News on Indian Economy
Start-ups and incubators can apply online for support under the ₹1,000-crore Startup India Seed Fund Scheme (SISFS) which would become operational from April 1, according to Anil Agrawal, Joint Secretary at the Department of Promotion of Industry and Internal Trade (DPIIT) under the Commerce Ministry.
The commerce and industry ministry will formally launch the production-linked incentive (PLI) scheme for air conditioners and LED lights worth ₹6,238 crore on 1 April, with the finance ministry approving the proposal.
In a big win for the government’s Make in India programme and Prime Minister (PM) Narendra Modi’s clarion call for the building of an Atmanirbhar Bharat, Japenese companies Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation plan to turn their under construction joint Lithium (Li)-ion battery manufacturing unit in Gujarat into a global export hub, reports Livemint.
Opportunities are up for grabs in India’s space sector, especially since June last year when it was opened for private participation, and Indian startups are not hesitating.
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.
