News on Indian Economy
In what appears to be a good news for the Electric Vehicle (EV) sector, reserves of lithium have been discovered in Mandya, 100 km from Bengaluru in Karnataka. This find could boost the local manufacturing of EV batteries.
A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.
In a letter to all solar and wind developers, the new and renewable energy ministry said land would be made available for setting up solar, wind and wind hybrid plants and that the proposed parks have necessary clearances from state governments and the defence ministry, sources said. The ministry has identified Khavada in Gujarat and Jaisalmer in Rajasthan for renewable energy parks of 25,000 megawatt each, they said.
The Companies Act which came into effect from 1 April 2014 stipulates that firms with a net worth of Rs 500 crore or more, or a turnover of Rs 100 crore or more, or a net profit of Rs 5 crore or more during the immediately preceding financial year are required to spend 2 percent of their profits on corporate social responsibility (CSR) programmes.
Mandaviya said, “Almost half of the Indian population lives around Ganga River belt in which about 1/5th of all India’s freight originates and 1/3rd terminates in the states around Ganga Belt.”
The Ministry of Commerce & Industry announced on Friday, (14/Feb/2020) that the first consignment of Nagpur oranges was flagged off to Dubai on 13 February from Vashi, Navi Mumbai. A total of 1,500 crates were loaded in the refrigerated container from Vanguard Health Care (VHT) facility.
Indian Oil Corporation (IOC), a public sector oil marketing major, plans to invest Rs 500 crore (US$ 71.54 million) at Chitradurga in Karnataka.
Moreover, NASSCOM also estimates that in FY20, the IT industry will add 205K jobs, taking the overall workforce of the IT industry to stand at 4.36 Mn. In FY19, the IT industry had added 185,000, NASSCOM noted. These projections were revealed by NASSCOM Chairman Keshav Murugesh at the annual Nasscom leadership forum on Wednesday (February 12).
The 43-seater capacity luxury electric bus, manufactured by Mitra Mobility Solution, has a range of 300 kilometre on a single charge and would be operated twice daily between the two cities, the operator Prasanna Purple Mobility Solutions said.
Kashi Mahakal Express will be inaugurated on 16th February, 2020 followed by routine commercial run from 20th February 2020 onwards. The inaugural run of the train will be flagged off from Varanasi by Prime Minister Shri Narendra Modi through video link.
