News on Indian Economy
In order to give a boost to the start-up ecosystem, the Union Budget has proposed to ease the burden of taxation on the employees by deferring the tax payment on ESOPs by five years or till they leave the company or when they sell their shares, whichever is earlier.
The Solar Energy Corporation of India (SECI) has successfully concluded world’s largest renewable energy-cum-storage tender. The agency allocated 1.2 gigawatts of renewable energy capacity among two of India’s leading developers.
With the commissioning of the refrigerated rail containers, DFV is now cutting down the transit times to Mumbai port significantly and improving quality, thereby supporting the long-term viability of exports from Andhra Pradesh.
Kleos Space, a space-powered Radio Frequency Reconnaissance data-as-a-service company has confirmed that it would be shipping its four Kleos’ Scouting Mission (KSM) satellites to India for launch by its rocket Polar Satellite Launch Vehicle-C 49 (PSLV C49).
Designed by Titan, a non-horological material like Khadi has been used on the dial and strap of the watches for the first time ever. Since Khadi is handwoven, every single watch in this collection is unique because of the distinctive weave and texture.
In the next five years, the Government of India is targeting at US$ 80 billion of jewellery exports from the present level of US$ 40 billion, as per the statement by a senior official.
For April-December 2019-20, highest growth in traffic was recorded by Directorate of Ports at Odisha at 64.2 per cent followed by Ports of Tamil Nadu Maritime Board (34.1 per cent), Directorate of Ports, Puducherry, 27.7 per cent) and Ports Management Board, Andaman & Nicobar Islands (25.4 per cent) against the corresponding period of the previous fiscal, as per the report.
The foreign inflows into India grew 15 per cent to USD 26 billion during the first half of the current financial year.
This capability will give Isro a big commercial boost as it will be able to cater to micro, mini and medium segments of the market, Haridas TV, Deputy Director, Vikram Sarabhai Space Centre said, taking part in the panel discussions at ‘EDGE 2020, The Space Conclave’, in Thiruvananthapuram on Friday.
BattRE Electric Mobility, a Jaipur-based startup, has announced the launch of an e-scooter, priced at Rs 79,999 (US$ 1,144.64). The company claimed it to be the second internet-connected scooter launched in India. BattRE is also offering cloud storage subscription for 1-year duration bundled with and inclusive in the price of the e-scooter.
