India’s Core Industries Output At 11 Month High, Rises By 5.5 % In February
The output pace of India’s eight major industries accelerated in February 2020 by 5.5 per cent from a rise of 1.4 per cent reported in January 2020.
Economy
News on Indian Economy
JNPT Handles 5 Million TEUs for Second Year in A Row
State-owned Jawaharlal Nehru Port Trust (JNPT), India’s busiest container port, handled five million twenty-foot equivalent units (TEUs) in FY20, despite of the tough fiscal year due to sluggish economic growth for most of the months and worsened lately by the outbreak of the coronavirus. JNPT, located near Mumbai, has crossed the 5 million TEU handling mark for the second year in a row.
Govt Introduces ‘Companies Fresh Start’ Scheme
Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Settlement Scheme, 2020” which is already in vogue to provide a first of its kind opportunity to both companies and LLPs to make good any filing related defaults, irrespective of duration of default, and make a fresh start as a fully compliant entity.
2.2 Gigawatt Solar Park In India’s Rajasthan State Now Fully Operational
One of India’s leading private renewable energy companies, Hero Future Energies, recently commissioned a 300 megawatt solar power project at Bhadla solar power park in Rajasthan. With this project, the solar park is now complete with installed capacity of 2,245 megawatts.
CSIR-NCL to Soon Submit R&D of Making Raw Material for Drugs
The CSIR-National Chemical Laboratory will help in making raw material (Key Starting Material) to make active pharmaceutical ingredients used to make many bulk drugs in the time of Covid-19.
JICA Signs ₹ 15,295 Crore Agreement with Modi Govt for Major Rail Infra Projects
For phase 1 of the DFC, Rs 8,553 crore loan comes with the objective to cope up with the increase in India’s freight transport demand by building a new dedicated freight railway system between Mumbai and Delhi.
Tata Power’s Joint Venture Clean Energy Project in Georgia Starts Commercial Production
Adjaristsqali Georgia LLC (AGL), a joint venture between Tata Power, Norway’s Clean Energy Invest (CEI) and International Finance Corporation (IFC), commenced the commercial operation of the 178 MW Shuakhevi Hydro Power Project located in southwest Georgia. The company holds 40 per cent stake in the joint venture.
ADB to Invest $100 Million in Indian Infrastructure Sector via NIIF
Multilateral institution Asian Development Bank (ADB) on Monday announced a USD 100 million funding for the Indian infrastructure sector through the government-promoted NIIF.
Border Roads Organsation Brave COVID-19 Threat to Make Bridge
New Delhi: Braving the threat of COVID-19, the Border Roads Organsation (BRO) personnel are working relentlessly to completely replace Daporijo bridge (430 feet Multi Span Bailey Brigde), the only lifeline of Upper Subansiri district, Arunachal Pradesh to restore Lines of Communication for all 451 villages and Security Forces located along the China border
Indian Railways to Give Full Refund for All Tickets for Period from 21st March – 14th April 2020
In view of cancellation of all passenger trains and all passenger ticketing upto 14th April 2020, it has been decided by Indian Railways to give full refund for all tickets for journey period from 21st March – 14th April 2020.