News on Indian Economy
An NHAI contractor has created a World Record for the laying of Pavement Quality Concrete (PQC) for a four-lane highway of 2,580 meters length within 24 hours. Starting at 8 am on 1st February, 2021, they finished the job, totalling 2,580 meters X 4 lanes i.e. approximately 10.32 lane kilometres by 8 am next morning.
The Government on Wednesday said that preliminary surveys on surface and limited subsurface by Atomic Minerals Directorate for Exploration and Research (AMD), a constituent unit of Department of Atomic Energy have shown presence of Lithium resources of 1,600 tonnes (inferred category) in the pegmatites of Marlagalla – Allapatna area, Mandya district, Karnataka.
CSIR-CMERI-Centre of Excellence for Farm Machinery has developed Off-gridSolar Biodiesel Hybrid Minigrid of 50kW peak capacity system for providing 24X7 power to Center for Excellence in Farm Machinery (CoEFM) Residential Colony at Gill Road, Ludhiana (Punjab). Prof. (Dr.) Harish Hirani, Director, CSIR – CMERI inaugurated the system on 1st February 2021.
In a slew of steps to support the Agriculture Sector, Union Minister for Finance & Corporate Affairs Ms. Nirmala Sitharaman announced 9 measures for Agriculture Sector as part of inclusive development for aspirational India while presenting the Union Budget 2021-22 in Parliament .
“Prior to the deployment of the Aireon system, aircraft were compelled to fly at uneconomical levels due to the high-traffic and many conflict points at crossing paths, burning extra fuel and resulting in extra expenses for airlines. Now, with more accurate position reporting available throughout the entire region, aircraft are more likely to get preferred flight levels and route changes, alleviating the prior issues,” AAI said in a statement.
While presenting the Union Budget 2021-22 in Parliament today the Union Minister for Finance & Corporate Affairs, Ms. Nirmala Sitharaman announced that the Government will amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to 74% and allow foreign ownership and control with safeguards.
The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis.
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.
