News on Indian Economy
Startups and industries will soon have access to equipment and S&T infrastructure in different institutions, universities, and colleges spread all over the country to carry out experiments and tests they require for their R&D, technology, and product development.
Union Minister Shri Nitin Gadkari has said that Maharashtra’s ‘Buldhana Pattern’ of water conservation’ has won national recognition and the NITI Aayog is in the process of formulating National Policy on water conversation based on it.
Isro’s high-speed satellite Internet cover for Galwan Valley panchayats soonAs India-China border situation at the Line of Actual Control (LAC) remains tense, the Bharat Broadband Nigam (BBNL) and Telecommunications Consultants India (TCIL) have prepared a blueprint to rollout high-speed satellite Internet connectivity in strategically important border terrains.
The Pension Fund Regulatory and Development Authority (PFRDA) today announced crossing Rs 5 lakh crore Assets Under Management (AUM) mark. The subscriber’s contributions under the National Pension System (NPS) and Atal Pension Yojana (APY) have jointly contributed to this landmark figure, over a period of 12 years.
Now onwards you can only buy air conditioners (AC) that are manufactured in India as the Centre has banned AC imports in its latest bid to boost domestic production of the item. The government wants to restrict import of “non-essential” goods in order to give a boost to domestic manufacturing and reduce dependence on imports.
As a further support and incentive for the farmers using the services of Kisan Rail, Ministry of Railways and Ministry of Food Processing Industries have decided that the 50% subsidy on transportation of notified fruits and vegetables (under ‘Operation Greens – TOP to Total’ scheme of MoFPI) shall be granted directly to Kisan Rail – for which MoFPI will provide necessary funds to Ministry of Railways.
For the first time since the pandemic, the domestic pharma retail industry bounced back, recording a rise of over 4% in September, helped by improved sales of chronic drugs and anti-virals used to treat coronavirus. This stems from the optimistic developments in macro-economic indicators, boosting expectations that the economy will pick up.
The Railway Ministry has approved Alstom-built 12,000-horsepower (HP) electric locomotives to run freight trains at a maximum speed of 120 kmph, a statement from the French company said on October 14. Earlier in the year, the railways had inducted WAG 12B electric locomotives, the most powerful ones to run on Indian tracks, according to the company.
India is expected to have 60,000 start-ups and 100 companies with valuation of over USD 1 billion by 2025, a TiE Delhi-NCR report, in association with Zinnov, released on Wednesday said.
The tunnel will provide all-weather connectivity between Srinagar valley and Leh (Ladakh plateau) on NH-1, and will bring about an all-round economic and socio–cultural integration of Jammu & Kashmir (Now UTs of J&K and Ladakh). It involves construction of a 14.15 Km long tunnel at an altitude of about 3000 m under Zojila pass (presently motorable only for 6 months in a year) on NH-1 connecting Srinagar and Leh through Dras & Kargil. It is one of the most dangerous stretch in the world to drive a vehicle & this project is also geo-strategically sensitive.
