News on Indian Economy
The border town of Belagavi is set to host India’s first miniature airport on the lines of Miniatur Wunderland in Hamburg, Germany. The Rs 6-crore project under the Smart City programme is expected to make the district a major tourist attraction in the country.
India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere, officials and industry sources said.
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the signing of the Memorandum of Understanding (MoU) between Republic of India and Federative Republic of Brazil on cooperation in the field of oil and natural gas.
The objective is to achieve machine assisted automatic identification of defects in the Rolling Stock, well before any catastrophic failure. This will lead to a paradigm shift in maintenance practices of Rolling Stock of Indian Railways from “Time Based Maintenance” to “Condition Based Predictive Maintenance” with a view to enhance reliability and availability along with improved safety of Rolling Stock during run.
he H-2 fuel cell hybrid system is a mixture of hydrogen device and oxygen. This increases the efficiency of the generating set. This system is a hybrid of other petroleum based fuels, which gives it enough energy.
According to data released by the Agriculture Ministry, the total planted area in the current rabi season reached to 641 lakh hectares with the wheat witnessing a record area of 330 lakh hectares. This is 8.6 per cent more than that sown in the corresponding period last year.
The system has been commissioned through the Centre for Railway Information System, under the technical guidance of Space Applications Centre at ISRO. RTIS provides real-time positional information of locomotives to the Railways. It facilitates automatic acquisition of train movement data, including that of arrival, departure and run-through timings, at the stations en route.
The Indian startup ecosystem is the third-largest in terms of the number of tech startups following the US and China. The country has 8,900-9,300 tech startups out of which 43 per cent are business-to-business.
India attracted Tech investments worth US$ 9.36 billion last year, a 95 percent increase compared with the previous year, according to the data compiled by a global database company.
The annual oil purchase deal with Rosneft, Russia’s state-run oil giant, came after months of negotiations, people said. Two other state-run refiners, Hindustan Petroleum and Bharat Petroleum, too are in talks with Rosneft to close annual crude deals for relatively smaller quantities, they said.
