News on Indian Economy
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.
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 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.
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.
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.
The primary objective of implementing the sewage treatment plant in Imphal is to control pollution in Nambul River which flows into Loktak, the largest freshwater lake in northeast India, Ibohal said.
The plant will be connected to our state-of-the-art Energy Network Operation Centre (“ENOC”) that continuously monitors and analyses performance of 80+ solar and wind plants across diverse locations in India.
Ola on Wednesday announced that it has joined hands with Siemens to build India’s most advanced electric vehicle manufacturing facility in Tamil Nadu. Last month, the popular ride-hailing platform signed a 2,400-crore-deal with the Tamil Nadu government to set up its first factory in the state. Upon completion, the factory will create almost 10,000 jobs, the company claimed.
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has given its approval for the investment of Rs.5281.94 crore for 850 MW Ratle Hydro Electric (HE) Project located on river Chenab, in Kishtwar district of Union Territory of Jammu and Kashmir, by a new Joint Venture Company (JVC) to be incorporated between National Hydroelectric Power Corporation (NHPC) and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51% and 49% respectively.
The 700-megawatt pressurized heavy water reactor of the Kakrapar Atomic Power Station, located in the western state of Gujarat, is the first of 16 planned units that will help balance the grid against growing intermittent renewable generation, according to K.N. Vyas, India’s atomic energy secretary.
