News on Indian Economy
The Railways is considering using India Post services for last-mile connectivity for consignment across the country, Railway Board Chairman VK Yadav said Thursday, after a pilot project was carried out by the Central Railways in Maharashtra.
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) capacity additions, a report said. Thermal power includes diesel, gas and coal-based electricity generation which contributes 63 per cent of total electricity generation capacity in India as per the report.
At a time when the country’s economy took a severe jolt due to Covid-19 lockdown, the flagship Prime Minister Employment Generation Program (PMEGP) implemented by Khadi and Village Industries Commission (KVIC) progressed at a much rapid pace. Thanks to a major decision of the Ministry of MSME introducing a new&faster mechanism in approving the PMEGP projects, the approval of projects during the first five months of this financial year, i.e. from April 1, 2020 to August 18, 2020, increased by a whopping 44%.
The subscriber base growth is on account of increased number of new subscribers, lower exits and higher rejoining by exited members. The new subscriber joining has increased roughly by 64 % from 3.03 lakh in May to 4.98 lakh in June 2020. In addition, the exits from EPFO subscriber base declined by nearly 33% from 4.45 lakh in May to 2.96 lakh in June 2020.
Union Minister of Chemicals and Fertilizers Shri. D.V. Sadananda Gowda has said that his Department of Pharmaceuticals has taken several measures to create suitable environment for development of domestic capacity in the pharma sector .
The Department for Promotion of Industry and Internal Trade (DPIIT) held a meeting on Wednesday with major e-commerce firms including Flipkart, Amazon, Snapdeal, Pepperfry and Paytm Mall amongst others to discuss the scope of listing geographic indication (GI) products on their platforms.
Spanning across an area of 89,032m2, the Salt Golah site consists of some old salt godowns and administrative offices in a highly dilapidated condition
Start-ups are the initiative to bring innovation in mainstream. The action plan is to focus on simplification and handholding. Another important aspect of start-ups is industry-academia partnership and incubation.
India’s only international financial hub is seeking to seize a major part of the offshore rupee trading business within two years, a target that is both ambitious as well as crucial for its plan to be an alternative global financial gateway.
Self-reliant agriculture is critical for the goal of an Atmanirbhar Bharat. For this, agricultural export is extremely important as besides earning precious foreign exchange for the country, the exports help farmers/producers/exporters to take advantage of wider international market and increase their income. Exports have also resulted in increased production in agriculture sector by increasing area coverage and productivity.
