News on Indian Economy
Continuing with its expansion drive of new products (mainly immunity boosting products and produce in the Forest Fresh and Organics range) in the recent weeks, Tribes India has taken up a new initiative to include more new products, this time those produced by the inmates of Central Jail of Jagdalpur among others .
The Indian economy is seen recovering faster than expected and the Reserve Bank is likely to have come to an end of the rate easing cycle, according to global forecasting firm Oxford Economics. It further said that inflation is expected to average significantly above 6 per cent in the fourth quarter of the current fiscal and the RBI may hold policy rates in December monetary policy review meeting.
Arunachal Pradesh health and family welfare minister Alo Libang on Thursday announced that the satellite survey for construction of the much-anticipated 150-km-long Yingkiong-Bishing national highway in Upper Siang district has been completed.
Oil India Ltd, the nation’s second-largest state oil producer, on Friday said it has made a natural gas discovery at a well drilled in Tinsukia, Assam.
The authority said that after examining the submissions, it provisionally concludes that the goods have been exported to India from the subject countries at dumped prices and the domestic industry has suffered material injury. It also said that material injury suffered by the domestic industry has been caused by the dumped imports.
NTPC has successfully developed Geo-polymer coarse aggregates as a replacement to natural aggregates. The technical parameters as per Indian standards for its suitability to use in concrete works were tested by NCCBM, Hyderabad and the results are in acceptable range.
A LinkedIn study revealed that 1 in 3 Indian professionals are now becoming increasingly positive about their financial affairs. Of the 2,022 Indian working professionals surveyed by LinkedIn as part of the Workforce Confidence Index’s 16th edition, 30% anticipate their earned income to increase, 35% expect their personal spending to increase and 35% expect their recurring debt payments to increase.
India will levy a 5% basic customs duty on imports of picture tubes used in making open cells – used in display screens of LED or LCD televisions – from November 12, 2020. The move will encourage foreign companies to set up display manufacturing units in India, industry insiders said.
The Ministry of Agriculture along with Central Institute of Horticulture, Nagaland organized today a virtual meeting on ‘Value Chain Creation for Kiwi fruit – Farm to Fork’ keeping in mind the popularity of the fruit due to its tremendous commercial potential.
In the first quarter of this fiscal year through June, customer spending on telecom services increased 16.6% year-on-year, quite apart from the Covid disruption and lack of access of offline recharges for a few weeks, with over three-fourths spent on data services, ICICI Securities said.
