News on Indian Economy
The plan involves building 10GW of large green energy capacity in the region, comprising solar and wind projects, and using these large battery units to store the electricity generated to supply to the rest of the country through a transmission link, power, and new and renewable energy minister Raj Kumar Singh said in an interview.
Addressing the gathering, the Prime Minister talked of the sowing season and expressed the hope that the amount received today will help the farmers. He also mentioned that the scheme of Kisan Infrastructure Fund with 1 lakh crore rupees corpus also completes one year today. The Prime Minister touched upon initiatives like Mission Honey-Bee and making saffron from Jammu & Kashmir in the NAFED shops. Honey mission has led to 700 crore export of honey resulting in extra income for farmers.
Giving more details as per weekly statistical supplement of Reserve Bank of India (RBI), the Minister stated that the Notes in Circulation (NIC) were Rs 17,74,187 crore as on 4th November, 2016 and Rs 27,80,045 crore as on 29th January, 2021.
On the back of domestic fundamentals, overseas investors were net purchasers in Indian markets worth Rs. 1,210 crore (US$ 163.05 million) in the first five trading sessions of August. According to depositories data, they invested Rs. 975 crore (US$ 131.36 million) in shares between August 2 and 6.
Of the said quantity, the maximum 77.20 per cent was exported to Nepal, followed by 13.04 per cent to Bangladesh, according to the Coal Ministry’s Provisional Coal Statistics 2020-21.
The Kolkata-based shipbuilding company said that GRSE bagged the order for this vessel on competitive bidding, and the contract was signed with the Transport and Harbours Department of Govt. of Guyana. The 70 M long, 1700 tonnes vessel will be propelled by two caterpillar engines and will have a maximum speed of 15 knots.
Union Road and Transport Minister Nitin Gadkari on Saturday said that he believes that within three years, the entire country will be provided with national highways parallel to the standards of the American highways.
Initially, 2 DEMU rakes will be converted and later, 2 Hybrid locos will be converted based on Hydrogen Fuel cell power movement. There will be no change in the driving console. Also, the project will lead to saving of Rs.2.3 Cr. annually.
He added that target must be set to increase the export of handloom items from existing 2,500 crore rupees to 10,000 crore rupees in the next three years. Addressing an event on the occasion of 7th National Handloom Day here today, Shri Goyal said that nation is committed to ensure sustainable development of the handloom sector thereby empowering handloom weavers and workers financially and instilling pride in their exquisite craftsmanship.
Prime Minister Mr. Narendra Modi will launch a national campaign on Friday to meet a US$ 400 billion merchandise export target for the current fiscal year. In the first four months of 2021-22, India achieved roughly a third of its yearly objective.
