News on Indian Economy
The India Meteorological Department (IMD) is all set to establish the country’s first thunderstorm research testbed at Balasore.Expected to be fully operational in next five years, the facility will aim to reduce fatalities and loss of property due to lightning strikes in Odisha and the eastern states.
The trade deficit with China was reduced from $63,047 million in 2017-18 to $53,567 million in 2018-19, and further to $48,647 million in 2019-20. This level of deficit will be reduced to around $33,000 million by the end of the current financial year, according to senior officials of the commerce & industry ministry.
The share of term loan in the total GLC has increased from 24.95 per cent in 2013–14 to 40.5% in 2019-20. A continuous increase in the share of term loan would lead to the much-needed increase in capital formation in agriculture, and the consequent increase in agricultural productivity.
In a landmark move, the Reserve Bank of India today said that retail investors in India will be given online access to invest in government securities. Right now, there is a way for small investors to buy government bonds via the goBID platform on the National Stock Exchange.
MoHUA launched the Mobile Application for PMSVANidhi se Samriddhi- Socio-economic profiling of PM SVANidhi beneficiaries and their families to link them to various Central Government Schemes
Recent evaluation studies of the scheme indicate that the coverage of Micro Irrigation is relevant in achieving national priorities such as substantially improving on-farm water use efficiency, enhancing crop productivity, ensuring better returns to farmers, generating employment opportunities etc. Further, the scheme has been effective in terms of ensuring benefits for farmers e.g. higher productivity; reduction in labour cost, water consumption, power utilization, fertilizer use etc.
National Agriculture Market popularly known as e-NAM was an innovative initiative in agricultural marketing to enhance farmer’s accessibility digitally to multiple numbers of markets & buyers and to bring transparency in trade transactions with the intent to improve price discovery mechanism, quality commensurate price realization and also to develop the concept of “One Nation One Market” for agriculture produce.
India now has the potential to create its own secured internet by setting up a root server locally for less than Rs 10 crore, according to state-run ITI and industry platform IPv6 Forum.
The top executive said that there are likely to be close to 600 suppliers of all shapes and sizes for the LCA Mk 1A program by the end of this year as production in ramped up to meet the requirements of the air force. With the Rs 48,000 crore deal signed at the air show, HAL now has three years to deliver the first aircraft.
Indian Strategic Petroleum Reserve Limited (ISPRL), a government-owned special purpose vehicle, has established Strategic Petroleum Reserves (SPR) facilities with the total capacity of 5.33 Million Metric Tonnes (MMT) at these three locations, according to the Ministry of Petroleum & Natural Gas.
