News on Indian Economy
Presenting the first ever digital Union Budget, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman stated that India’s fight against COVID-19 continues into 2021 and that this moment in history, when the political, economic, and strategic relations in the post-COVID world are changing, is the dawn of a new era – one in which India is well-poised to truly be the land of promise and hope.
Mr. Ram Nath Kovind, President, stated that over Rs. 4 lakh crore (US$ 54.82 billion) worth of digitalized exchanges were encouraged by UPI in December 2020 and in excess of 200 banks are connected to the UPI framework”.
The government has settled ₹ 24,531 crore to CGST and ₹ 19,371 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of January 2021 is ₹ 46,454 crore for CGST and ₹ 48,385 crore for the SGST.
The plant, built by state-run IndianOil, is Ladakh’s only source of cooking gas and a lifeline once snow snaps road connectivity with the rest of the country. About 40% of the refills produced at the plant go to the defence establishment. It is also the country’s only LPG unit to be operated by women.
The solar project spread across 700 acre also includes 33/132 kV switchyard. The expected energy yield of this project in Uttar Pradesh is 319 million units and is likely to power 1,45,662 houses per year.
India plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government.
The Economic Survey has observed that in-spite of an unprecedented COVID-19 pandemic and consequential challenges, the industrial and infrastructure sector of Indian economy are on a fast V-shaped recovery path. This strong V-shaped recovery of economic activity is further confirmed in the IIP data. The Economic Survey was tabled in the Parliament today by Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman.
Calling for India to play a major role in global vaccination campaign, United Nations Secretary-General Antonio Guterres on Thursday termed the vaccine production capacity of India as the “best asset” that the world has today.
One of the oldest Khadi institutions in Assam, which remained in a vandalized state bearing the scars of Bodo insurgency for over 30 years, has been brought back to life by Khadi and Village Industries Commission (KVIC). The Khadi workshed at village Kawali in Baksa district of Assam, which was burnt down by Bodo insurgents in 1989, has been revived as a Silk reeling center by KVIC. Spinning and weaving activities will restart at the workshed with 15 women artisans and 5 other staffs in the second week of February.
As of January 27, 2020, the Government eMarketplace (GeM), listed 10,13,448 sellers and service providers across over 13,000 product and 178 service categories, as per the data sourced from the marketplace.
