News on Indian Economy
With the emphasis on zero emission, Union Finance Minister Nirmala Sitharaman on Saturday stressed on setting up a large solar power capacity along railway tracks, which the Indian Railways said will be able to generate 1,000 MW by 2021-22 and it will achieve the capacity of 5 gigawatt (GW)by 2030.
n the case of Chabahar, the allocation has gone up by Rs 55 crore from Rs 45 crore in the 2019-20 budget. This comes more than two months after the US gave India a written assurance that it would help facilitate global banks to fund the purchase of equipment at Chabahar port — during the Indo-US “2+2″ meeting of foreign and defence ministers in Washington in December
Under PMKVY (2016-20), as on 17.01.2020, 73.47 lakh (appx.) (40.27 lakh STT + 33.20 lakh RPL) candidates have been trained/oriented throughout the country. The State/UT-wise number of candidates trained / oriented under PMKVY (2016-20) is given at Annexure.
The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF managing director Kristalina Georgieva has said.
The strategy, which has already yielded results in assembly of cars as well as mobile phones, is seen as the panacea for employment generation, especially in the manufacturing sector, at a time when job creation has become a major concern.
The National Logistics Policy formulated by the Commerce and Industry Ministry will improve India’s trade competitiveness, create more jobs, improve India’s performance in global rankings and pave the way for India to become a logistics hub.
Quantum technologies are rapidly developing globally with a huge disruptive potential. The next generation transformative technologies that will receive a push under this mission include quantum computers and computing, quantum communication, quantum key distribution, encryption, crypt analysis, quantum devices, quantum sensing, quantum materials, quantum clock and so on.
The Union Finance Minister, also proposed an allocation of Rs. 22000 crore for Power and Renewable Energy sector in 2020-21. Finance minister urged all States and Union Territories to replace conventional meters by prepaid “Smart Meters” in the next 3 years and measures to reform DISCOMs.
In order to give a boost to the start-up ecosystem, the Union Budget has proposed to ease the burden of taxation on the employees by deferring the tax payment on ESOPs by five years or till they leave the company or when they sell their shares, whichever is earlier.
The Solar Energy Corporation of India (SECI) has successfully concluded world’s largest renewable energy-cum-storage tender. The agency allocated 1.2 gigawatts of renewable energy capacity among two of India’s leading developers.
