News on Indian Economy
For the year 2020-21, in the first phase, 112 startups in the area of agro processing, food technology and value addition will be funded for a sum of Rs. 1185.90 lakhs which will contribute to enhancing the income of farmers. This fund will be released in instalments.
Industry has reposed its faith in India’s stellar progress as a world class manufacturing destination and this resonates strongly with Prime Minister’s clarion call of AtmaNirbhar Bharat – a selfreliant India. Minister further said that “we are optimistic and looking forward to building a strong ecosystem across the value chain and integrating with the global value chains, thereby strengthening electronics manufacturing ecosystem in the country”.
India on Thursday imposed restrictions on imports of colour television sets, intending to encourage local manufacturing and check imports from China.
After a year of lull in FMCG sales in Bharat, rural India has finally begun to outpace urban India in terms of consumption.
The gross GST revenue collected in the month of July, 2020 is ₹ 87,422 crore of which CGST is ₹ 16,147crore, SGST is ₹ 21,418 crore, IGST is ₹ 42,592 crore (including ₹ 20,324 crore collected on import of goods) and Cess is ₹7,265 crore (including ₹ 807crore collected on import of goods).
As the popularity of the Khadi Face Masks grows across the country due to its fine quality and affordable price, the Khadi and Village Industries Commission (KVIC) has received a prestigious purchase order from Indian Red Cross Society (IRCS) to supply 1.80 lakh face masks.
The Fertilizers & Chemicals Travancore Limited (FACT), a PSU under the Ministry of Chemicals & Fertilizers has started using Coastal Shipping as a new mode of transport for the movement of fertilizers to East and the West Coast of the country.
Shri Raj Kumar Singh, Honourable Minister of State (Independent Charge) for Power and New & Renewable Energy (MNRE), Government of India, today in a virtual ceremony, dedicated Sembcorp’s state of the art SECI 1, 2 and 3 projects to the nation. Shri Bhanu Pratap Yadav, Joint Secretary, MNRE, along with several other dignitaries joined Wong Kim Yin, Group President and CEO, Sembcorp Industries from Singapore and Vipul Tuli, Managing Director, Sembcorp Energy India Limited virtually, to commemorate this milestone.
After successful implementation of Prime Minister Garib Kalyan Ann Yojana (PMGKAY) from April to June 2020, the Government of India extended this scheme for another 5 months from July to November 2020. About 81 crore beneficiaries covered under National Food Security Act (NFSA) and Antyodaya Ann Yojana (AAY) are being provided 5 Kgs of Rice/wheat free of cost under this scheme.
WEE Foundation is India’s First of its kind social, national initiative by IIT Delhi and supported by DST to strengthen women entrepreneurship in the country and promote an ecosystem that enables creation and sustenance of such enterprises by women.
