News on Indian Economy
Tightening import norms, India will check all power equipment bought from China for malware and Trojan horses that can be potentially used to trigger electricity grid failures to cripple economic activity in the country, Power Minister R K Singh said.
Raksha Mantri Shri Rajnath Singh in the presence of Raksha Rajya Mantri Shri Shripad Y Naik today launched a new web portal for issue of No Objection Certificate (NOC) for power projects and Research Survey Exploration Exploitation (RSEE) activities in the Indian Territorial Waters (TW) and Exclusive Economic Zone (EEZ).
The Indian Institute of Technology (IIT) Alumni Council has resolved to give a push to Prime Minister (PM) Narendra Modi’s call for the building of an Aatmanirbhar Bharat by the creation of a Rs 21,000 crore-strong largest social initiative fund of India to improve social infrastructure in the nation by the deployment of innovative technology, reports Hindu Businessline.
The Federation of Indian Chambers of Commerce and Industry (FICCI) on Friday suggested a five-point ‘PEACE’ action plan for the industrial development of the country at a time when border tensions with China are at its peak and demand for boycotting Chinese goods are escalating.
A crucial bridge on the Munsyari-Milam road near the India-China border in Uttarakhand that collapsed on June 22 when an earthmover was being taken across it has been rebuilt by the Border Roads Organisation (BRO) within a record time of five days. Traffic was restored on the stretch on Saturday
In a major move towards GST taxpayers’ facilitation, the Government has decided to provide the facility of SMS filing of NIL statement of FORM GSTR-1 from 1st week of July 2020.
India is likely to export a record 55 lakh tonnes of sugar for the season of 2019-20, according to top industry officials. Sugar millers have signed contracts for 52 lakh tonnes and 48 lakh tonnes has already moved out, Prakash Naiknavare, MD, National Federation of Cooperative Sugar Factoriess (NFCSF) stated. Exports could hit a high of 55 lakh tonnes, given the fact that millers have time till September 2020 to export sugar, he said.
To boost gas usage, India is expanding infrastructure including building new liquefied natural gas (LNG) import plants and connecting households with an expanding gas pipe network. New Delhi said recently that no authorisation was needed to set up LNG dispensing facilities for vehicles.
Apple’s global contract manufacturers, Foxconn and Wistron, have applied for Modi government’s production-linked incentive (PLI) scheme to make India its next hub for production and exports of iPhones.
The Centre’s move to increase its policy focus on domestic manufacturing through “Atmanirbhar Bharat Abhiyan” as well as “Make in India” initiatives augurs well for the domestic solar manufacturing players.
