News on Indian Economy
India has become the 6th country in the world to join the club of countries producing high horsepower locomotives indigenously with these powerful e-locos being manufactured within the nation. Two ultramodern maintenance depots in Uttar Pradesh’s Saharanpur and Maharashtra’s Nagpur are also on the way.
Union Ministry of Power has promulgated rules laying down the rights of power consumers in the country. While issuing these rules here today via Press Conference, Mr. R.K.Singh, the Union Minister of State (Independent Charge) for Power and New & Renewable Energy, said, “These rules shall empower the consumers of electricity and added that these Rules emanate from the conviction that the power systems exist to serve the consumers and the consumers have rights to get the reliable services and quality electricity.”
Indians are the most positive about employment and pay increase prospects in 2021 in the Asia Pacific region, job site ‘Indeed’ said on Monday, citing its global report. In reference to their counterparts in Australia (20%) and Singapore, Indian employees (56%) are more than twice as optimistic about their chances of having a pay raise next year (23 per cent).
Year-on-year comparison shows that October, 2020 has registered a healthy 56% growth in terms of net payroll addition as compared to net subscriber growth of 7.39 lakh registered during the month of October 2019, indicating robust recovery to pre Covid-19 levels.
Ministry of Ports, Shipping and Waterways (MoPSW) has been working continuously for the promotion of Coastal Shipping under Sagarmala Programme. The Sagarmala programme is the flagship programme of the Ministry to promote port-led development in the country through harnessing India’s 7,500 Km long coastline and potentially navigable waterways.
The Anji Khad Bridge stands at a height of 331 metres above the river bed. The total length of the bridge is 473.25 metres. It has been designed to handle heavy storms of strong winds due to the high altutide. The geology of the region is extremely complex, making it impossible for an arch bridge to be constructed. Due to this, the bridge has a single pylon. The pylon had to be constructed on a vertical slope by using micropiles of 40 metres in depth.
Prime Minister Narendra Modi on Saturday said that sentiment has shifted from ‘Why India’ to ‘Why not India’. He also urged India Inc to invest more in research and development (R&D).
An official release said that Assam chief minister Sarbananda Sonowal, while presiding over a meeting of the BPDD, said that for the efficient management of inter-state boundary areas and making the border areas’ development programmes successful, roads leading to the BOPs need to be made motorable.
RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet ~15% of India’s gas demand by 2023. These projects will utilise the existing hub infrastructure in KG D6 block. RIL is the operator of KG D6 with a 66.67% participating interest and BP holds a 33.33% participating interest.
Shri Goyal specifically mentioned that with 3B objectives: Bigger trade basket – Better trade basket – Balanced trade relationship, we can see huge & exponential growth in our trade relationship.
