News on Indian Economy
The JV aims to set up a factory in India to manufacture Al-Air batteries for Electric Vehicles and stationary applications and facilitate development of eco-system for Al-Air technology, Indian Oil said.
“Now Bioagri wants to expand its vision to India. It has chosen to start operations in the eastern part of India as it sees great potential in promoting natural farming, given the deep sense of sustainable traditional agriculture practices existing among the communities,” an official of Siang Tea and Industries said.
Coal stocks at power plants peaked to 34.25 million tonnes on January 26, equivalent to 19 days’ consumption, and up by 77% as against 19.36 million tonnes, equivalent to 12 days’ consumption at the same time last year.
The GST revenues during the month of January 2020 from domestic transactions has shown an impressive growth of 12 per cent over the revenue during the month of January 2019.
The Finance Minister proposed setting up of an Investment Clearance Cell that will provide “end to end” facilitation and support to create more opportunities to youth and remove roadblocks.
Following a sharp improvement in demand, January saw growth of new business, output, exports, input buying and employment. At the same time, business sentiment strengthened and there were softer rises in both input costs and output charges.
Ministry of Culture has developed three Virtual Experiential Museums: – Man Mahal at Varanasi, Ajanta Caves at National Musuem, Delhi and Humayun Tomb in Delhi (last two are under development). Ministry of Culture also proposes to set up a National Virtual Experiential Site Museum at Vadnagar, Gujarat.
With an eye on domestic and global markets, LTMMSL has set up the assembly, inert integration (without explosives) and testing facility for Missile Sub-systems and Missile Weapon Launch Systems spread across an area of 16,000 sq. meter in a Special Economic Zone at Coimbatore.
On Friday, finance minister Nirmala Sitharaman said that a policy will be worked out for the private sector to set up data centers in India to take advantage of how “analytics, fintech and Internet of Things (IOT) are changing the way we deal with our lives.”
Looking to expedite clean energy as some coal-fired power plants face closure, Asia’s third-largest economy has set a target to raise renewable energy capacity to 175 gigawatts by 2022. Its renewable capacity rose 16% to 85.9 GW in 2019, while coal-fired capacity rose 3.9% to 198.5 GW.
