News on Indian Economy
Pradhan Mantri Matru Vandana Yojana (PMMVY) is a maternity benefit scheme. As on 9th March 2020, 1.36 crore of eligible beneficiaries have received maternity benefit of one or more than one instalment amounting to Rs.5657.10 crore (US$ 809.43 million) through Direct Benefit Transfer (DBT) directly in their bank accounts.
Post the abrogation of Article 370 from Jammu and Kashmir, the Modi-Government has begun a crackdown on encroachments trying to recover 1 lakh hectares of occupied land from the volatile region
According to Mr Gupte, “Currently our annual sourcing from India is around US$ 1 billion. Our goal is to double that over a number of years”. He added that this could possibly happen in the next 5-10 years.
India’s exports grew for the first time in seven months, while imports returned to positive territory after falling for eight months, although traders are bracing for a fresh bout of slowdown due to the coronavirus pandemic.
The Mineral Laws (Amendment) Bill, 2020, will open a new era in Indian coal & mining sector specially to promote Ease of Doing Business. Union Coal & Mines Minister Sh. Pralhad Joshi said that this Bill will transform the mining sector in the country boosting coal production and reducing dependence on imports.
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi had approved the proposal of Ministry of Shipping to replace the Major Port Trusts Act, 1963 by the Major Port Authorities Bill, 2020. This will empower the Major Ports to perform with greater efficiency on account of full autonomy in decision making and by modernizing the institutional framework of Major Ports.
The Minister of State (INDEPENDENT CHARGE) for Power, New& Renewable Energy Shri R.K. SINGH informed the Lok Sabha in a written reply today that as per the extant National Electricity Plan, the installed capacity of thermal power plants of the country, comprising of Coal based and Gas &diesel based plants, is likely to be 243,037 MW in 2021-22 out of a total projected Installed Capacity of 479,419 MW. The Plant Load Factor (PLF) of Coal based capacity in 2021-22 is likely to be 56.5 per cent.
Net services receipts too increased in Q3FY20 to $21.9 billion compared with $20.4 billion in Q2.
Now targeting another $6-$8 million of funding within the next six months, the company has now showcased its electric tractor as a prototype for the first time ever in India. Being electric, it is claimed to outshine its diesel-powered counterparts by a considerable margin.
In January this year, the Supreme Court of India lifted its moratorium on the construction of the airport after the expert appraisal committee of the ministry of environment and forests revised its earlier recommendations and imposed additional conditions on the construction of the project.
