News on Indian Economy
Myanmar has decided to expedite India-backed infrastructure projects and widen security ties with India as it seeks to balance China’s expanding presence in the country in the backdrop of Beijing’s active cross-border support for rebel groups and push for early completion of BRI projects.
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the capital infusion for an overall value of Rs.12,450 crore; (including Rs. 2,500 crore infused in FY 2019-20) in the three Public Sector General Insurance Companies (PSGICs) namely Oriental Insurance Company Limited (OlCL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL)
Global aviation software specialist Ramco Systems announced that it will implement its Aviation M&E MRO Suite V5.8 at Tactical Air Support, a leading American defense contractor and aviation training and Adversary Air Support provider based in Reno, Nevada. With this landmark partnership for digital transformation, Ramco now counts 3 of the top 4 defense adversary air operators in the United States as its customers.
Spread over 1,590 acres of land, Rewa Ultra Mega Solar Power Plant is one of the largest single-site solar power plants in Asia .
The Atal tunnel, being built under the Rohtang pass at 13050 feet connecting Manali – Lahaul – Spiti and Leh , would be inaugurated by Prime Minister Narender Modi in September this year after its completion.
The Ministry of Commerce is considering to replace the Multi-modal Transportation of Goods Act with a full-fledged national logistics law with a view to promote growth of the sector.
Altitude Angel, an unmanned traffic management (UTM) technology provider, is partnering with Mumbai-based Sagar Defence Engineering Ltd. in BVLOS trials supported by India’s Directorate General of Civil Aviation (DGCA).
The Border Roads Organisation (BRO) has made three new bridges in Ladakh’s Nimu region operational from Monday. The strategically located bridges are helping Indian Army move tanks and other heavy artillery to the Eastern Ladakh sector along the Line of Actual Control (LAC).
As per a communiqué, the Union Ministry of Road Transport and Highways has asked for preparation of estimates for the proposed works in the approved annual plan incorporating the technical parameters and designs as per IRC codal provisions/latest circulars of the Ministry and submission to the Ministry for consideration.
A new dawn ushers on Indian Railways as it endeavors to be self-reliant for its energy needs as directed by the Prime Minister and solarise railway stations by utilizing its vacant lands for Renewable Energy (RE) projects. Railway is committed to utilize solar energy for meeting its traction power requirements and become a complete ‘Green mode of transportation’.
