News on Indian Economy
The Ministry of petroleum and Natural Gasvide Resolution dated 08.11.2019 has simplified the guidelines for grant of authorization for bulk and retail marketing of Motor Spirit (Petrol) and High Speed Diesel (Diesel).
This is a first-of-its-kind smart warehouse for onions developed with scientific backing and latest innovations and technology. The lack of scientific storage practices, non-standard designs and poor quality of material used for onion storage leads to over 40% loss of the produce inside the warehouse
The Group of Ministers (GOM) on COVID-19 has considered and agreed to the proposal of the Ministry of Health & Family Welfare allowing the export of made-in-India ventilators. This decision has been communicated to the Director General of Foreign Trade (DGFT) for further needed action to facilitate the export of indigenously manufactured ventilators.
KPTL holds 74% equity shares in Kohima-Mariani Transmission project and Electric & Engineering Company holds the rest
The government is working to reduce dependency on API imports and launched an Rs 10,000 crore scheme in July to ensure adequate domestic supply. Besides this, incentives of Rs 10 crore each was announced for Indian companies set ting up plants to produce 53 crucial APIs which we are currently heavily dependent for on China.
As per the programme, initially four Pilot Projects will be started, including one in North Eastern part of the country. Each targeted cluster of artisans will be supported with about 50 Automatic Agarbatti making machines and 10 Mixing machines.Accordingly, a total of 200 Automatic Agarbatti making machines and 40 Mixing machines will be provided to the artisans.
The Khadi and Village Industries Commission (KVIC) has taken another big step towards making India “Aatmanirbhar” by joining hands with ITBP to supply mustard oil. Today KVIC and ITBP signed a Memorandum of Understanding (MoU) to this effect. The MoU was signed by Shri VK Nagar, Director, KVIC and Shri Rama Kant Sharma, DIG, ITBP in presence of KVIC Chairman, Shri Vinai Kumar Saxena.
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.
