News on Indian Economy
Domestic steel demand grew by around 9% year-on-year in May 2026, showing that consumption remains firm across core sectors. The current fiscal year has also opened with healthy demand growth, supported by continued investment in roads, railways, ports, airports, industrial corridors, housing, energy projects and urban infrastructure.
Root servers form a critical component of the global Domain Name System (DNS), translating website names into numerical IP addresses and enabling users to access online services. Establishing additional root server infrastructure in India would help ensure faster processing of internet traffic and strengthen the nation’s digital ecosystem.
UPI’s presence at symbolic locations such as the Eiffel Tower already gave India’s digital payment system high visibility in Europe. A wider rollout will move the platform from symbolic acceptance to deeper practical use. This can help Indian visitors pay more easily at tourist locations, transport points, retail outlets and service centres as acceptance expands.
India is the world’s second-largest producer and consumer of coal, with Coal India Limited being the largest coal-producing company globally. India is endowed with the world’s fifth-largest coal reserves of over 400 billion tonnes. Leveraging these resources through coal gasification can significantly transform the country’s industrial landscape while reducing import dependence on critical feedstocks and chemicals.
With this latest approval, the total number of houses sanctioned under PMAY-Urban 2.0 has crossed 16.13 lakh. The newly approved houses cover 16 states, with around 1.89 lakh houses under the Beneficiary-Led Construction vertical and more than 23,000 houses under the Affordable Housing in Partnership vertical.
Union Minister for New and Renewable Energy Pralhad Joshi said India has carried out one of the world’s fastest and largest green energy transformations over the past 12 years. The statement was made in New Delhi during a workshop focused on strengthening the National Green Hydrogen Mission through state policies, industrial hubs and infrastructure planning.
Battery energy storage systems, or BESS, solve one of the biggest challenges in renewable energy. Solar power is strongest during the day, wind power varies with weather, and electricity demand often peaks in the evening. Storage bridges this gap by saving surplus power when generation is high and releasing it when the grid needs support. For a country adding renewable capacity at record pace, storage is becoming essential for reliability, flexibility and round-the-clock clean electricity.
The agreement, signed on 18 June 2026 in New Delhi, strengthens the partnership between GeM and CSC that began in 2022. While the earlier collaboration focused mainly on seller registration and profile creation, the new arrangement provides end-to-end support for sellers, from onboarding to catalogue listing.
The proposed corridor will feature modern railway infrastructure, including two crossing stations at Ghuman and Butala, 11 major bridges, 121 minor bridges, 54 Road Under Bridges (RUBs), advanced signalling and telecommunication systems, and the deployment of Kavach, India’s indigenous train collision avoidance system.
The target was reviewed during a high-level meeting chaired by Shri Rohit Kansal, Secretary, Department of Rural Development, to assess state-wise progress under PMGSY and the Road Connectivity Project for Left Wing Extremism Affected Areas (RCPLWEA).
