News on Indian Economy
It is a proud moment for Indian Railways as 100th 12000 HP WAG 12 B has been inducted in Indian Railways fleet. The loco is named WAG 12 B with number 60100. The locomotive is manufactured by Madhepura Electric Locomotive Pvt. Ltd. (MELPL).
In response to an increase in coronavirus cases, the RBI announced a Rs. 50,000 crore (US$ 6.77 billion) on-tap liquidity window for firms involved in healthcare infrastructure and services on Wednesday.
Downing Street announced that the Serum Institute of India would invest GBP 240 million (US$ 332.38 million) in the UK to expand its vaccine business and open a new sales office, creating thousands of jobs, as part of a GBP 1 billion (US$ 1.38 billion) India-UK Enhanced Trade Partnership that will create about 6,500 jobs in the UK.
An awareness session on Oxygen related technologies was organised through digital platform by MSME – Development Institute, Jaipur in association with CSIR – Central Mechanical Engineering Research Institute, Durgapur on 04.05.2021. Prof. (Dr.) Harish Hirani, Director, CSIR-CMERI delivered the Chief Speaker’s address in the programme. Mr. Sanjeev Saxena, Additional Director of Industries, Govt. of Rajasthan, Mr. V. K. Sharma, Director, MSME-DI, Jaipur, Dr. Rohit Jain, President, CIDA, and Mr. Mahendra Mishra, General Secretary, Laghu Udyog Bharti including100 number of MSEs, entrepreneurs and industrialists participated in the said awareness programme.
Procurement of Wheat in ongoing RMS 2021-22 is continuing smoothly in the procuring States of Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Uttarakhand, Chandigarh, Himachal Pradesh, Delhi, Gujarat Jammu & Kashmir and Bihar at MSP, as was done in previous seasons, and till now (upto 03.05.2021) a quantity of over 299.16 LMT of Wheat has been procured against the last year corresponding purchase of 181.37 LMT. About 29.46 Lakh farmers have already been benefitted from the ongoing RMS procurement operations with MSP value of Rs. 59,083.37 Crore.
The Department of Telecommunications (DoT), Government of India, approved today, permissions to Telecom Service Providers (TSPs) for conducting trials for use and applications of 5G technology. The applicant TSPs include Bharti Airtel Ltd., Reliance JioInfocomm Ltd., Vodafone Idea Ltd. and MTNL. These TSPs have tied up with original equipment manufacturers and technology providers which are Ericsson, Nokia, Samsung and C-DOT. In addition, Reliance JioInfocomm Ltd. will also be conducting trials using its own indigenous technology.
According to the IHS Markit India Manufacturing PMI report released on Monday, demand growth drove India’s manufacturing sector production higher in April 2021.
A total of 19 companies have filed their application under the Production Linked Incentive Scheme (PLI) for IT Hardware which was notified on 03.03.2021. The scheme was open for filing applications till 30.04.2021. Incentives are applicable under the scheme from 01.04.2021.
Mills have signed contracts for shipments of 5.4 to 5.5 million tonne of sugar so far. A total of 3.5 million tonne has been exported, with another 1 million tonne planned to be completed by the end of the month, according to the study.
The Index of Eight Core Industries’ reading for last month showed an expansion of 6.8 per cent from a decline of 8.6 per cent in output during the same month of last year.
