News on Indian Economy
Australia granted market access to Indian pomegranates in 2020, paving the way for Indian farmers to tap into a new and lucrative market. A work plan and Standard Operating Procedures (SOP) for the export of pomegranates to Australia were signed in February 2024, further streamlining the export process.
Union Minister of Commerce and Industry, Shri Piyush Goyal during his address at the 5th edition of ISA Steel Conclave on 5th August 2024 in New Delhi set a target of 500 mn tonnes of steel production by 2034.He urged the industry leaders to focus their energy on economies of scale through decarbonisation as green steel will be in more demand.
Bharat Tex 2025 is a global textiles event being organised by a consortium of Textile Export Promotion Councils (EPCs) and supported by the Ministry of Textiles. Scheduled to be held from February 14-17, 2025 BHARAT TEX 2025 is positioned as a global scale textile trade fair and knowledge platform.
MeitY, with the vision to create trusted digital platforms, initiated National Blockchain Framework (NBF) for promoting research and application development; facilitating state of the art, transparent, secure and trusted digital service delivery to citizens.
AgriSURE – Agri Fund for Start-ups & Rural Enterprises is an innovative fund which is a pioneering step toward revolutionizing the agricultural landscape in India. With a focus on technology-driven, high-risk, high-impact ventures, AgriSURE is designed to fuel growth and foster innovation in the agricultural and rural start-up ecosystem. A Blended capital fund of ₹750 crore with SEBI Registered Category II, Alternative Investment Fund (AIF), contributions from the Government of India is ₹250 crore, NABARD is ₹250 crore, and ₹250 crore is being mobilized from banks, insurance companies, and private investors.
Apart from providing the name and location of the toll plaza, the software will share details related to the live status of queue length in meters, total waiting time and vehicle speed at Toll Plaza. It will also provide congestion alert and lane distribution recommendation, if the queue of vehicles at a toll plaza is more than the prescribed limit.
The rules provide for powers and functions of administrator, who will be responsible for overseeing the implementation and administration of the Digital Bharat Nidhi. The rules also provide for criteria for undertaking schemes and projects under Digital Bharat Nidhi and selection process for implementers.
The proposed unit will be setup with an investment of Rs 3,300 crore. The capacity of this unit will be 60 Lakh chips per day.
The conferring of Navratna status brings forth key advantages to NHPC. It will enable faster decision-making, increase efficiency and empower employees. It will support major CAPEX and investment plans, drive growth, expand market reach and achieve long-term gains.
Real GVA has grown by 6.8% in Q1 of FY 2024-25 over the growth rate of 8.3% in Q1 of the previous financial year. This GVA growth in the Q1 of FY 2024-25 has been driven by significant growth in the Secondary Sector (8.4%), comprising of Construction (10.5%), Electricity, Gas, Water Supply & Other Utility Services (10.4%) and Manufacturing (7.0%) sectors.
