News on Indian Economy
Minister of Railways, and Commerce and Industry Piyush Goyal is in Bhutan, heading a business delegation in connection with the Bhutan – India Start-Up Summit 2020.
As per RBI’s data, the user interest in digital payments has been small but significant. The use of prepaid payment instruments (PPI) such as wallets and payment accounts has increased by 33% to 4.6 Bn transactions in financial year 2018-19 from 3.45 Bn transactions in FY 2017-18. In terms of value, PPIs grew by 50%, amounting to INR 2128.76 Bn from INR 1416.34 Bn in the financial year 2018.
PMEGP is a credit linked subsidy scheme which promotes self-employment through setting up of micro enterprises, where subsidy up to 35 percent is provided by the Government through Ministry of MSME for loans up to Rs 25 lakh (US$ 35,770.4) in manufacturing and Rs 10 lakh (US$ 14308.1) in service sector.
The main objective of this Scheme is creation of processing and preservation capacities and modernisation/ expansion of existing food processing units with a view to increasing the level of processing, value addition leading to reduction of wastage.
State-run Hindustan Aeronautics Ltd (HAL) supplied a rocket part (L-40 stage) to the Indian Space Research Organisation (ISRO) for launching satellites in the geo-stationary orbit onboard GSLV Mark-2, the aerospace major said on Friday.
CORS is a geopositioning infrastructure that provides seamless consistent and uniform framework of the country. It offers highly accurate DGPS service that also improves the speed, efficiency, and simplicity of in-house data-acquisition process. CORS network also act as a driver for reliable data collection by ‘authorized-crowd-sourcing’. CORS takes the overall productivity to the next level by overcoming the limitations of the current RTK technique.
The institute is an autonomous organisation under the Ministry of Earth Sciences. INCOIS prioritises requests for specific services from its diverse user community that ranges right from fishermen to offshore oil exploration industries.
The prepaid meters are expected to help to improve billing and collection, which are the most basic problems facing the country’s ailing distribution companies, known as discoms. These utilities, mostly controlled by their state governments, lose money because of poor billing and theft of power, which often leads to them delaying payments to generators and depriving their customers of reliable supplies.
State-owned Energy Efficient Services Ltd (EESL) has forayed into solar power generation and intends to set up 1,500 MW of decentralised solar power plants across the country by the end of 2020-21, its managing director, Mr Saurabh Kumar said.
New Zealand’s Minister for Trade and Export Growth, David Parker today congratulated India on the impressive strides it has made in Ease of Doing Business.
