News on Indian Economy
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’.
Bharat Petroleum Corporate Research & Development Centre (CRDC) has bagged a total of 62 patents since its inception 19 years ago and is awaiting 68 more.
India’s Vice President Venkaiah Naidu today launched the Elyments app – which claims to be India’s first official social media super app. The app has been built by over a thousand IT professionals who are also volunteers of the Art of Living, which is helmed by Sri Sri Ravi Shankar.
Union Agriculture & Farmers’ Welfare Minister, Shri Narendra Singh Tomar today said that a new dimension is going to be added to farmers’ groups with the creation of ten thousand new Farmers’ Producer Organizations (FPOs).
The Covid-19 outbreak has accelerated the transition in India’s energy sector with profound implications for the economy, including addition of $140 billion of new direct investments in gas over eight years, rise in the employment growth rate by up to 300 basis points and a lower current account deficit by an average $4-4.7 billion annually.
According to the report given by the Financial Express, the R 260 grades specification issued by the RDSO is more stringent compared to the European specification on various parameters. One such parameter is that in steel, the hydrogen content is 1.6ppm (maximum), while the hydrogen content is 2.5 ppm (maximum) that is specified in the European specification.
During April-June 2020 POS sale of fertilizers to farmers was 111.61 lakh MT which is 82.81 % higher than the last year sale of 61.05 lakh MT during the same period.
According to Reserve Bank of India(RBI), Bank credit and deposits witnessed a growth of 6.18 per cent and 11 per cent to Rs 102.45 lakh crore (US4 1.45 trillion) and Rs 138.67 lakh crore (US4 1.96 trillion), respectively, in the fortnight ended June 19, 2020. Whereas, in the fortnight ended June 21, 2019, bank credit had stood at Rs 96.48 lakh crore (US$ 1.36 trillion) and deposits at Rs 124.92 lakh crore (US4 1.77 trillion).
An amount of Rs 250 crore is being spent for the development of the bridge.The Indian Railways has commenced constructing the first pillar in the sea for India’s first vertical lift railway sea bridge, Pamban rail bridge.
As tensions run high along the border with China, the government is examining a proposal to impose trade and procurement curbs on companies from countries ‘illegally occupying Indian territory’, specifically those active in territories such as Pakistan-Occupied Kashmir (PoK).
