News on Indian Economy
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.
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.
