News on Indian Economy
India is learnt to have aligned with China, Russia and Japan to oppose use of 26 Ghz spectrum band for 5G operations, but industry bodies have expressed their reservations about the decision. China and Russia have opposed 5G operation in 26 Ghz band to defend their military operations, while India has aligned with them as the Indian Space Research Organisation (ISRO) wants this spectrum band for satellite services.
“Geological studies have confirmed that there are reserves of around 2,400 million tonnes of potash deposits in Nagore-Ganganagar basin of Rajasthan covering parts of Sriganganagar, Hanumangarh and Bikaner districts, which is estimated to be around 5 times of the declared world reserves of potash,” said Rajasthan Chief Secretary D.B. Gupta.
Motorists in high-altitude sectors like Ladakh, Kargil, Kaza and Keylong face the problem of freezing of diesel in their vehicles when winter temperatures drop to as low as -30o Celsius. Indian Oil has come up with an innovative solution to this problem by introducing a special winter-grade diesel with a low pour-point of -33o Celsius, which does not lose its fluidity function even in extreme winter conditions.
Mahindra is India’s largest electric vehicle manufacturer but is yet to launch an electric two-wheeler in the country, at a time when Indian government is urging automakers to launch electric vehicles to reign in on increasing pollution and crude import.
Tomar said, “India ranks fourth in maize production. In view of the growing demand for maize across the globe, this institute will go a long way in enhancing its production.”
Indian Railways bets on 12,000 HP electric locomotives! As part of one of the biggest ‘Make in India’ FDI deals in the sector, Indian Railways is all set to get 10 new electric locomotives in the financial year 2019-2020.
Metals and Minerals Trading Corporation of India (MMTC) declared its financial results for the half year ended on 30th September 2019. The company has achieved revenue from operations of Rs 13176 crore (US$ 1.89 billion) as against the revenue from operations of Rs 12511 crore (US$ 1.79 billion) during the corresponding period last year registering a growth of 5 per cent over the same period last year.
“There should be a pan-India single wage day every month across various sectors to ensure that workers get timely payment of salaries. Prime Minister Narendra Modi is keen on this legislation to get passed soon. Similarly, we are also looking at uniform minimum wages across sectors which will safeguard better livelihood of workers,” said Gangwar addressing at ‘Security Leadership Summit 2019’ organised by the Central Association of Private Security Industry (CAPSI).
“Along with the development of other technologies, manufacturing of LED lights has been the major focus for ‘Make in India’ initiative. Various incentive schemes in the country have given a major boost to the domestic market, making ‘Made-in-India’ products globally competent. Today, about 35%-40% LED lights and technologies are manufactured in India,” added Marwaha.
This marks the first over-subscription of a renewable energy capsule in nearly two years during which auctions for solar and wind energy projects of over 10 GW had to be extended, postponed or retendered in the absence of response from investors.
