News on Indian Economy
The scheme — which will be rolled out by the IT ministry and has been prepared in consultation with the ministries of finance and commerce as well as the Niti Aayog — is aimed at making India a hub for manufacturing of electronics and components, standing parallel to other manufacturing powerhouses such as China and Vietnam, highly-placed sources told TOI.
The Government of India launched “National Apprenticeship Promotion Scheme” (NAPS) in August 2016 with stipend support and sharing of the cost of basic training with a cumulative target of training 50 lakh youth during Financial Year 2016-17 to 2019-20. Following are the details of financial support components under NAPS:
The officers of Anti Evasion wing of Central Tax, Delhi West Commissionerate have busted a major racket of fake invoicing of Rs.7896 crore involving fraudulent Input Tax Credit (ITC) of Rs.1709 crore, using a network of 23 shell companies, which procured and generated invoices without actual supply of goods and availed as well as passed on ITC. Two persons have been arrested on 29.02.2020, in this matter.
Ambassador of the European Union to India Shri. Ugo Astuto, alongwith Chief Minister Dr. ramod Sawant launched the strategy for ‘Fostering Resource Efficiency and Circular Economy in Goa’, making Goa a pioneering state to prepare such strategy.
In January 2020, the growth recorded by eight core industries was 2.2 per cent on the back of increase in the production of coal, refinery products and electricity, as per the official data.
The gross GST revenue collected in the month of February, 2020 is Rs 1,05,366 crore (US$ 15.08 billion) of which CGST is Rs 20,569 crore (US$ 2.94 billion), SGST is Rs 27,348 crore (US$ 3.91 billion), IGST is Rs 48,503 crore (US$ 6.94 billion) (including Rs 20,745 crore [US$ 2.97 billion] collected on imports) and Cess is Rs 8,947 crore (US$ 1.28 billion) (including Rs 1,040 crore [US$ 148.81 billion] collected on imports).
The plastic bottles left behind by tourists prompted the local community to introduce the ban. The bamboo water bottles have been ordered from Assam through Sikkim Rajya Sabha MP Hishey Lachungpa.
The ‘Restaurant on Wheels’ at Asansol station circulating area was developed by refurbishing two, over-aged Mainline Electric Multiple Unit (MEMU) coaches. T
Indian Railways’ manufacturing unit for Chittaranjan Locomotive Works (CLW) received the unique distinction of manufacturing most locomotives in a year. CLW got the recognition from the Limca Book of Records and it was published by the same at their Delhi office.
From textiles fabrics, refrigerators and suitcases to antibiotics such as amoxicillin, erythromycin & metronidazole, vitamins and insecticides, the government has begun a hunt for 1,050 items from across the world as supplies from China, which accounts for over 50% of India’s imports, are hit due to coronavirus.
