News on Indian Economy
According to Mr Gupte, “Currently our annual sourcing from India is around US$ 1 billion. Our goal is to double that over a number of years”. He added that this could possibly happen in the next 5-10 years.
India’s exports grew for the first time in seven months, while imports returned to positive territory after falling for eight months, although traders are bracing for a fresh bout of slowdown due to the coronavirus pandemic.
The Mineral Laws (Amendment) Bill, 2020, will open a new era in Indian coal & mining sector specially to promote Ease of Doing Business. Union Coal & Mines Minister Sh. Pralhad Joshi said that this Bill will transform the mining sector in the country boosting coal production and reducing dependence on imports.
The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi had approved the proposal of Ministry of Shipping to replace the Major Port Trusts Act, 1963 by the Major Port Authorities Bill, 2020. This will empower the Major Ports to perform with greater efficiency on account of full autonomy in decision making and by modernizing the institutional framework of Major Ports.
The Minister of State (INDEPENDENT CHARGE) for Power, New& Renewable Energy Shri R.K. SINGH informed the Lok Sabha in a written reply today that as per the extant National Electricity Plan, the installed capacity of thermal power plants of the country, comprising of Coal based and Gas &diesel based plants, is likely to be 243,037 MW in 2021-22 out of a total projected Installed Capacity of 479,419 MW. The Plant Load Factor (PLF) of Coal based capacity in 2021-22 is likely to be 56.5 per cent.
Net services receipts too increased in Q3FY20 to $21.9 billion compared with $20.4 billion in Q2.
Now targeting another $6-$8 million of funding within the next six months, the company has now showcased its electric tractor as a prototype for the first time ever in India. Being electric, it is claimed to outshine its diesel-powered counterparts by a considerable margin.
In January this year, the Supreme Court of India lifted its moratorium on the construction of the airport after the expert appraisal committee of the ministry of environment and forests revised its earlier recommendations and imposed additional conditions on the construction of the project.
The recommended emission-reduction targets are the first targets specific to the ICT industry to be approved by the Science Based Targets initiative (SBTi).
The Integrated Project for Source Sustainability and Climate Resilient Rain-Fed Agriculture in Himachal Pradesh will be implemented in 428 Gram Panchayats in 10 districts benefiting over 400,000 smallholder farmers, women, and pastoral communities.
