News on Indian Economy
India’s Gross Domestic Product (GDP) in the immediate term can witness an increase of 2.5 per cent with a substantial rise in Artificial Intelligence (AI) by Indian firms, a study has found.
In yet another initiative towards pursuance of the vision of Hon’ble Prime Minister of ‘Aatma Nirbhar Bharat’, ‘Digital India’ and ‘Make In India’ and towards fulfillment of the mission of Hon’ble Minister of Railways and Commerce & Industry, Shri Piyush Goyal in achieving greater self reliance for ‘Aatma Nirbhar Bharat’ and engaging with the world from a position of strength, IRCTC and SBI Card together launched their new Co-branded Contactless Credit Card on RuPay Platform. The new credit card was dedicated to the service of the nation today by Shri Piyush Goyal, Hon’ble Minister of Railways and Commerce & Industry.
In 2019, the country’s first semi-high-speed Vande Bharat Express train was flagged off between New Delhi and Varanasi.Work has commenced on detailed project report (DPR) for the proposed Delhi-Varanasi high-speed rail (HSR) corridor following instructions of the Central government.
As firms look to move production lines out of China, the Centre has asked all states and Union territories (UTs) to identify one city each out of a national list of 60 cities, whose entire electricity needs would be met through rooftop solar power, said two people aware of the development.
To achieve the objective of “Housing for all by the year 2022”, Prime Minister Shri Narendra Modi launched the restructured rural housing scheme, namely Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) on 20th November, 2016 with the target of construction of 2.95 crore houses with all basic amenities by the year 2022.
Pushing for the lifting of restrictions on international travel, tourism, theatres, live events and schools, Indian industry has come out with a detailed set of sector-wise operating guidelines to coincide with phase three of the unlock, beginning from August 1.
Central Government has recently released GST Compensation of Rs. 13,806 crore to States for March’2020. Taking this amount into account, entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is Rs. 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was Rs. 95,444 crore.
The Government is soon going to set up a single window system for clearances and approvals of industry in the country.Talking to the sovereign wealth funds, the foreign pension funds and others on ease of doing business and investments in infrastructure sector in India, Commerce and Industry Minister Shri PiyushGoyal said that this would be a genuine single window and all the concerned State Governments and Central Ministries are being taken on board for the system.
Union Minister for Consumer Affairs, Food & Public Distribution Shri Ram Vilas Paswan today launched the Bureau of Indian Standard’s Mobile App ‘BIS-Care’ and three portals – the Standardization, Conformity Assessment and Training Portals of e-BIS on www.manakonline.in for consumers.
AatmaNirbhar Bharat App Innovation Challenge, launched by the Prime Minister Narendra Modi on 4th of July has seen a very enthusiastic response from tech entrepreneurs and Startups from across the country. The last date of receipt of entries was 26th July, and a total of 6940 entries have been received across the 8 categories identified.
