News on Indian Economy
The volumes of the PCB&W and FMCG & Healthcare (F&H) categories increased by 95% and 46% YoY respectively from October to December 2020, according to the Q4-2020 -E-commerce Trend Report, jointly released by Unicommerce and Kearney.
The output has increased to 240 lakh tonnes from 140 lakh tonnes in the last six years because of the efforts made by farmers and scientists as well as the government’s initiative, he said. Stating that pulses demand is estimated to reach 320 lakh tonnes by 2050, Tomar said there is a need to shift focus on increasing the production to meet rising demand.
Upto 09.02.2021, the Government through its Nodal Agencies has procured 3,08,989.79 MT of Moong, Urad, Tur, Groundnut Pods and Soyabean having MSP value of Rs.1,663.92 Crores benefitting 1,67,523 farmers in Tamil Nadu, Karnataka, Maharashtra, Gujarat, Haryana and Rajasthan.
Parliament on Wednesday passed the Major Port Authorities Bill, 2020. Shri Mansukh Mandaviya, Minister of State (I/C) for Ports, Shipping &Waterways moved the bill in Rajya Sabha today and it was passed. Now the Bill will go to the President of India for his assent.
Government of India is organizing ‘The India Toy Fair, 2021’ from 27th February 2021 to 2nd March 2021 on a virtual platform. This initiative is in line with the Prime Minister’s vision of making India a global hub for the Toy Industry.
West Bengal gets included in ONGC’s oil and gas map with its eighth field at Ashoknagar in West Bengal starting commercial production on Sunday. ONGC first extracted 20 kilolitres of crude oil from the Ashoknagar oilfields early November this year and had sent it to Indian Oil’s Haldia refinery for processing.
Indian Railways’ freight loading for the last few months have crossed last year’s loading and earnings for the same period. It is expected that cumulative freight loading will surpass last year’s freight loading figures.
India will overtake the European Union as the world’s third-largest energy consumer by 2030, the International Energy Agency said on Tuesday as it forecast India accounting for the biggest share of energy demand growth over the next two decades.
The Indian government might soon allow companies to go ahead with a four-day work week. The Union Ministry of Labour and Employment is working on new labour codes which will make way for a three-day weekend, but will keep the working hours at 48 hours a week, which means employees might be subject to long days.
The New Jersey-based electric car maker Triton has roped in India’s state-owned Bharat Electronics Limited (BEL) to make batteries. The much-awaited memorandum of understanding (MoU) has been signed where Triton will provide the know-how and BEL will make them.
