News on Indian Economy
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.
The government has amended certain Indian Accounting Standards (Ind-AS), including the standard relating to leases amid the coronavirus pandemic.
Ind-AS 103, 116 and some other standards have been amended by the Corporate Affairs Ministry.
Kashmir Valley’s Saffron has got the much-awaited geographical indication (GI) certification from the central government in a fillip to the homegrown spice, which is likely to fetch higher prices in the international markets.
Indian Railways is on a mission to RFID Tag all wagons by December 2022.
The Indian Railways will complete this process of fitting radio-frequency identification tags (RFID) in all the wagons by December 2022. These tags will be used for tracking all wagons.
So far 23000 wagons have been covered under RFID project. The Project is still in progress and continuing, although this work has been slowed for some time due to pandemic Covid 19. Government has fixed the deadline for fitting of RFID in all the wagons of Indian Railway till December 2022.
Currently, Indian Railway is maintained such data manually, which leaves scope for errors. Using RFID devices will be easier for the railways to know the exact position of all the wagons, locomotives and coaches.
While the RFID tag will be fitted in the rolling stock, trackside readers will be installed at stations and key points along the tracks to read the tag from a distance of about two meters and transmit the wagon identity over a network to a central computer. In this way, each moving wagon can be identified and its movement tracked.
So far 23000 wagons have been covered under RFID project. The Project is still in progress and continuing, although this work has been slowed for some time due to pandemic Covid 19. Government has fixed the deadline for fitting of RFID in all the wagons of Indian Railway till December 2022.
