News on Indian Economy
Bharat Heavy Electricals Limited has invited foreign companies to use its facilities to set up manufacturing bases in the country. The government-owned company has floated an expression of interest in this regard.
A total area of 461,589 hectares has been identified across the country for the purpose, the people said, asking not to be identified because they aren’t authorized to speak to the media. That includes 115,131 hectares of existing industrial land in states such as Gujarat, Maharashtra, Tamil Nadu and Andhra Pradesh, they said. Luxembourg is spread across 243,000 hectares, according to the World Bank.
The commissioning of the plant will augment generation capacity by up to 127 MW
At present, companies from Japan, the United States, Korea and other European nations with huge investment in China are mulling to move out after the coronavirus pandemic.
In spite of problems in procurement & logistics due to COVID-19 lockdown, Pradhan Mantri Bhartiya Janaushadhi Kendras –PMBJAK, achieved a record sales turnover of Rs 52 crore (US$ 7.38 million) in the month of April 2020 compared to Rs 42 crore (US$ 5.96 million) in March 2020. It was Rs 17 crore (US$ 2.41 million) in April 2019
Pulwama, Budgam, Kishtwar and Srinagar districts of Kashmir Region is always in headlines due to extremist’s activities but this time the news is for Kashmiri Saffron that got GI Tag. Kashmir saffron is renowned globally as a spice. It rejuvenates health and is used in cosmetics and for medicinal purposes.
Railways have fruitfully utilised the enforced lockdown by successfully executing long-pending maintenance works like yard remodelling, renewal of scissors crossover, repair of bridges that have often confronted Indian Railways as bottlenecks.
In this regard, the minister referred to the amendment in the 100 year old Indian Forest Act in 2017, which resulted home grown bamboo being exempted as forest products in order to enhance livelihood opportunities for people through bamboo.
The India Cellular And Electronics Association (ICEA) on Friday welcomed the governments decision to let the IT manufacturing units including mobile phones resume operations from May 4. In a statement, the ICEA said the new MHA notification has clearly defined the hotspots, red, orange and green zones and explicitly clarified the permitted economic activities in Red Zones.
Direct tax collection recorded a healthy growth in April despite the nationwide lockdown and grew by 36.6%.
