India To Recover Faster Than Other BRICS Nations, Says Economic Bulletin
Both South Africa and India also implemented sizeable expansionary fiscal responses, BRICS Economic Bulletin 2021 said
Economy
News on Indian Economy
72 Handloom Products and 06 Product Logos Registered Under GI Act to Promote Traditional Handloom
The schemes aim at increasing productivity by providing improved looms & accessories to the handloom weavers at 90% subsidized rates, skill upgradation through training programmes, design innovation & product diversification by engaging designers, production of varieties of handloom products, including traditional & contemporary for domestic as well as overseas markets. This Ministry promotes export of handloom products through organisation/participation in international fairs/exhibitions, Buyer-Seller Meet, Reverse Buyer-Seller Meet etc.
Increase in Export of Non-Basmati Rice
Two national institutes of rice namely ICAR-National Rice Research Institute (NRRI), Cuttack and ICAR-Indian Institute of Rice Research (IIRR), Hyderabad are engaged in the development of high yielding climate resilient new varieties/hybrids ofrice, including red rice, which are tolerant to various biotic and abiotic stresses with enhanced quality.
Restricting FDI Inflows From China in The Strategic Sector
In order to curb opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic, the Government, vide Press Note 3 (2020) dated 17.04.2020 read with Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2020 dated 22.04.2020, amended the FDI policy according to which an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route.
15.41 Lakh Net Subscribers Added During September 2021 in EPFO
LFPR (Labour Force Participation Rate), WPR (Worker Population Ratio) and UR (Unemployment Rate) are the indicators reveal that the employment scenario has improved significantly over the years (as per PLFS data).
All Equipment, Systems to Power 5G Rollout Being Procured from Trusted Sources: Govt
Mr. Ashwini Vaishnaw, Union Minister for Communications, told Lok Sabha that all equipment, components, and systems to aid India’s 5G rollout had been procured from “trusted sources. This was ins response to a question raised by Mr. Manish Tewari, Minister of Congress, who wanted to know whether the government refused to allow the Chinese company Huawei to participate in 5G trials because it was “deemed to be a security risk.”
FM Nirmala Sitharaman Features on Forbes’ 100 Most Powerful Women List
Ms. Nirmala Sitharaman, Union Finance Minister of India, features in the Forbes’ annual list of 100 most powerful women. The finance minister ranked 37 on the list and was featured for the third consecutive time. In 2020, Ms Sitharaman occupied the 41st spot and 34th spot in 2019.
Lockheed Nod for F-16 Wings in India – Make in India
The US firm today formally recognised TLMAL as a potential co-producer of F-16 wings. The facility has the capacity to make 50 pairs of wings a year, Lockheed Martin officials said. A ceremonial event marking the first fighter wing prototype built at the TLMAL facility here was attended by KT Rama Rao, Minister for Industries and Commerce, Telangana.
Cabinet Approves Ken-Betwa Interlinking of Rivers Project
The total cost of Ken-Betwa link project has been assessed at Rs.44,605 crore at 2020-21 price levels. The Union Cabinet has approved central support of Rs.39,317 crore for the project, covering grant of Rs.36,290 crore and loan of Rs.3,027 crore.
India Unseats Brazil to Become Top Food Supplier to Arab Nations After 15 Years
India surpassed Brazil in food exports to the League of Arab States for the first time in 15 years as the Covid-19 pandemic disrupted trade flows in 2020, according to data provided by the Arab-Brazil Chamber of Commerce to Reuters on Tuesday.