News on Indian Economy
In a major boost to export of exotic fruit, a consignment of fibre and mineral rich ‘Dragon Fruit’, also referred as Kamalam, has been exported to Dubai.A consignment of Dragon Fruit for exports was sourced from the farmers of Tadasar village, Sangli district, Maharashtra and it was processed and packed at APEDA recognized exporter – M/s Kay Bee.
The Union government on Friday announced decision to extend the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric vehicle (FAME) scheme by two years to March 31, 2024. The scheme, started in 2019 for promoting sales of electric vehicles, was supposed to end by 2022.
Shri Ravi Shankar Prasad, Union Minister for Law & Justice, Communications and Electronics & IT, formally launched the e-filing portal of Income Tax Appellate Tribunal (ITAT), ‘itat e-dwar’, at 04.00 pm today, the 25 June 2021 in New Delhi.
An independent appraisal reportreleased by United Nations Development Programme (UNDP) has lauded the Aspirational Districts programme (ADP) ‘as a very successful model of local area development that should serve as a best practice for several countries where regional disparities in development status persist for many reasons.’
According to NASSCOM, the market share of the Indian engineering, research, development market to the global market is projected to grow at a compound annual growth rate (CAGR) of 12-13% to reach US$ 63 billion by 2025.
Measures taken by the Government on the fronts of Foreign Direct Investment (FDI) policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country.
Indian Railways, with its pan-India network, forms an integral part of the government plan to raise incomes in farm sector by encouraging transportation by rail. Introduction of Kisan Rails have given farmers wide access of Indian markets. Kisan Rail have so far carried 2.7 lakh tonnes of consignment. Till now, 60 routes have been operationalised.
Among 33 engineering goods categories, 30 in the global markets registered growth. In May 2021, the engineering goods share in total merchandise exports increased by 25.44%, as compared to an increase of 24.83% in April 2021 and 25.36% in March 2021. Between April and May, cumulative basis of growth stood at 25.23%.
The Kochi PDP complex marks the first major endeavour in the country, either in the public or private sector, to produce niche petrochemicals which are predominantly being imported now.
In a positive development, the Government has successfully electrified as many as 19 villages in Siachen, taking Ladakh closer to the milestone of achieving carbon neutrality, reports The Economic Times.
