News on Indian Economy
Exports of gems and jewellery this FY in the first 7 months upto October’ 21 was $ 23.62 bn, as compared to $ 11.69 bn (+102.09%) for the same period previous year.
Kushinagar is an international Buddhist pilgrimage centre. Here Lord Gautam Buddha attained Mahaparinirvana. This region is also the centre point of the Buddhist circuit, which consists of pilgrimage sites at Lumbini, Sarnathand Gaya. The operationalization of the Kushinagar airport will connect this region directly with national and global visitors and pilgrims.
Union Minister for MSME Shri Narayana Rane on Friday launched the unique anti-bacterial fabric developed by Kumarappa National Handmade Paper Institute, Jaipur, under KVIC.The fabric is treated with anti-bacterial agent extracted from cow dung which prevents bacterial growth in the fabric. Shri Rane said, this innovative fabric could be great use in hospitals and other medical facilities.
Nagaland has emerged as another example of tribal entrepreneurship that has showcased to the entire country how cluster development and value addition can help members earn significantly higher income.These clusters are one of the many developed under Van DhanYojana(PMVDY) introduced by TRIFED, Ministry of Tribal Affairs, in association with State departments. The scheme aims at empowering tribals by providing them support in terms of financial capital, training, mentoring, etc. in order to expand their business and enhance earnings.
According to the company’s press statement, HCL Technologies (HCL) had entered Sri Lanka in 2020 with the objective to make it a global technology and IT services delivery hub for some of the largest corporations in the world. Presently, HCL intends to occupy 80% of Cinnamon Life, a project by John Keels, with proposals of taking up 10 floors now and 10 floors at a later stage.
Post the conclusion of the India-US Trade Policy Forum meeting, the two countries agreed on a “transitional approach” to digital service tax levied by the government, offering it relief from the planned American retaliatory action, while comforting tech giants such as Amazon, Google and Facebook that are laible for this tax.
Driverless Train Operations (DTO) has been launched on the 59 kilometre long Pink Line (Majlis Park to Shiv Vihar) of Delhi Metro. With this, the Delhi Metro’s fully automated network will grow to about 97 kilometres, which is 4th largest in the world and the only DTO network in India. The DTO facility was launched on the Magenta Line in 2020 with which the Delhi Metro had entered the elite league of world’s 7% Metros in the world which operate fully automated metro networks.
In just over a year since they completed fabrication of a prototype engine, Skyroot Aerospace, a firm founded and led by former Isro scientists, has successfully tested India’s first privately developed fully Cryogenic rocket engine — ‘Dhawan-I’ — running on two high-performance rocket propellants, Liquid Natural Gas (LNG) & Liquid Oxygen (LoX).
The arguments come as authorities race to finalise a bill Prime Minister Mr. Narendra Modi’s government intends to introduce to parliament in the session beginning November 29, 2021. The bill may stipulate a minimum amount for investments in digital currencies, while prohibiting their use as legal tender, according to people who were aware of the development.
The Food Corporation of India (FCI) has played a pivotal role in ensuring food security during the Covid pandemic. During the Rabi Marketing Season 2021-22, the Corporation has recorded an all time high wheat procurement of 433.44 lakh MT, recording 11% increase over last year’s procurement.
