News on Indian Economy
Solar power in India has just had a major boost. The country’s government has announced funding that will enable 2 million farmers to invest in irrigation pumps powered by solar photovoltaic arrays.
In a bid to strengthen the industry-academia partnership and to bring qualitative improvements in Technical Education, the Administrative Council (AC) has given sanction for establishing two Centres for Invention, Innovation, Incubation, and Training (CIIIT) in Jammu and Kashmir.
Madhuban Gajar, a biofortified carrot variety with high β-carotene and iron content developed by Shri Vallabhhai Vasrambhai Marvaniya, a farmer scientist from Junagadh district, Gujarat is benefitting more than 150 local farmers in the area.
Tata Power Solar will build the 300 MW CPSU-II for NTPC at an all-inclusive price of Rs 1,730.16 crore (US$ 247.55 million).
As the world runs out of space to store the flood of oil, petroleum minister Dharmendra Pradhan on Tuesday held a virtual meeting with his UAE counterpart Sultan Al Jaber to discuss the possibility of tanking up India’s strategic petroleum storage capacity with crude from ADNOC (Abu Dhabi National Oil Company) to take advantage of the price crash.
One of the FTAs in question is the planned Regional Comprehensive Economic Partnership (RCEP), an initiative which was supposed to cover 16 countries and some 40% of the global economy – so definitely a very significant trade discussion.
The annual exercise is larger than the Berlin airlift in terms of tonnage hauled till date. For the next 3-4 months, 1,000 tankers will each make 10-12 trips on an average to Kargil and Leh from the company’s Jammu, Jalandhar and Sangrur terminals to create stockpiles of petrol, diesel, jet fuel, kerosene and LPG. Hindustan Petroleum will move some 20,000 kl from its Bhatinda refinery.
NHAI has accomplished construction of 3,979 km of national highways in the financial Year 2019-20. This is the highest ever highway construction achieved in a financial year by NHAI.
Export of essential commodities including fruits and vegetables, which takes place by sea routes, bounced back to near-normal levels with the monago consignment to the Middle East.
Iran’s Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) announced on Sunday that the first India-Iran-Afghanistan intermodal transport, using Transports Internationaux Routiers (TIR) has been completed.
