News on Indian Economy
The fastest growth in new orders and output in seven years was boosted by the increase in demand. Thus, as a result, job creation was sustained and business optimism maintained, as per the latest IHS Markit Services PMI report.
As per Central Electricity Authority’s National Electricity Plan, contribution of renewable energy sources is estimated to be around 21 per cent of the total electricity demand of the country in the year 2021-22 and 24 per cent by 2026-27.
India recorded 15 billion merchant payments against total online money transactions of 26 billion in 2019, of which 9 billion were mobile payments, according to a Paytm’s report. “Over the past few years, India has taken a leap to become a leading nation to drive payment adoption and technology to masses,” country’s e-commerce payment system said.
Mr Maier added, “India is one of the most promising markets in the world, but it is also one of the most competitive. We want to be hyperlocal here this time and get the right products at the right prices to win our share here”. The company launched two new SUVs in India.
The Kisan Rail will comprise refrigerated coaches in Express and Freight trains. The budget also proposed the launch of Krishi Udan by Civil Aviation Ministry on international and national routes to transport perishable goods to less accessible areas such as the north-east and tribal districts.
Today India is the world’s largest milk producing nation with production of 175 million litres of milk per year and it takes up 21 percent of this field in the world market.
Titan Aviation and Aerospace India Ltd has applied for 6,000 acres of land in Jhansi for setting up of a ‘maintenance repairs, overhaul and manufacturing industry’ in collaboration with an Ukranian company. The company has signed an MoU with the state government for this project.
As per World Steel Association data, India became the second largest steel producer of crude steel after China in 2018 and 2019, by replacing Japan.
The ever increasing size of container ships makes it imperative that a deep draft container port in West Coast of India is developed. Increasing containerization of cargo in the wake of value-added manufacturing sector makes it important to prepare our port infrastructure for handling value-added import and export to facilitate manufacturing activity.
Under the guidance of the Prime Minister Shri Narendra Modi and directions of the Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar, the Ministry is issuing the Soil Health Cards. This has enabled the farmers to understand the soil health parameters and improve its productivity by judicious application of soil nutrients.
