Space Dept, Defence Ministry in Agree to Vacate Spectrum Worth INR. 60,000 Crore for 5G Services
‘ISRO has agreed to leave 25 Mhz spectrum in 3300-3600 Mhz band but they have sought protection for satellite services from 5G.’
Economy
News on Indian Economy
India’s New Agri Laws have Potential to Raise Farm Income: IMF’s Gita Gopinath
Gopinath, in response to a question on the new farm laws, said: “These particular farm laws were in the area of marketing. It was widening the market for farmers. Being able to sell to multiple outlets besides the Mandis without having to pay a tax. And this had the potential to raise, in our view, farmers’ incomes”.
Half of Border Area Development Funds to Go to Villages Along China border: Centre
The Centre has allocated almost Rs 20 crore to Uttarakhand – nearly half of the total provided to the state under a core centrally sponsored scheme — for taking up work projects in sensitive areas along the China border, in view of continued tensions between both countries.
Indian Startups Attract $10.14 Billion in Funding in 2020: Report
Indian startups are estimated to have received $10.14 billion in funding across more than 1,200 deals in 2020 despite the COVID crisis, a report by consulting firm HexGn said. Even though the total investment received in 2020 is lower than that of 2019 ($14.5 billion), the number of deals were higher by 20%, the report said.
IMF Projects Impressive 11.5% Growth Rate for India in 2021
The International Monetary Fund (IMF) on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.
Defence Services, Organisations Purchase from MSMEs on GeM up 72%
Ease of Doing Business for MSMEs: Importantly, the biggest jump in defence procurement from MSMEs was recorded between FY18 and FY19 with order value witnessing a massive increase of 210 per cent from Rs 555 crore worth goods purchased on the GeM platform to Rs 1,725 crore during the said period.
SAIL Plans India’s 1st Gas-to-Ethanol Plant in Maharashtra’s Chandrapur
Mukesh Kumar, the Director of Steel Research & Technology Mission of India (SRTMI) told PTI that the plan is in line with the government’s aim to reduce the country’s dependence on import for crude oil besides addressing the issue of carbon emissions.
India Sees 19 IPOs Worth US$ 1.84 Billion in 2020 December Quarter: Report
India witnessed 19 Initial Public Offering (IPOs) worth US$ 1.84 billion in Q4 2020 and market sentiment remains positive, according to leading consultancy EY’s India IPO Trends Report.
India to Overtake China as World’s Fastest-Growing Major Economy in 2021
The London-based consultancy firm expects the Indian economy to recover sharply this year from its current technical recession, expanding 9.7 percent, quicker than other major economies across the globe. China is expected to see growth of 8.6 percent.
IFFCO Ranks First Among top 300 Cooperatives of the World
Indian Farmers Fertiliser Cooperative Limited (IFFCO) ranked 65th in the overall turnover ranking from 125th in the last financial year and is in the leading position among the world’s 300 leading cooperatives, according to an official release.