Economy

News on Indian Economy

IOC Developing Batteries from Indigenous Metals

Similarly, if he goes to a station and we replace the metal plates, he is not bothered because the whole thing happens within three minutes,” Singh said. The metal-air batteries have other advantages. “These batteries have high energy density. So,if a normal lithium-ion battery can travel the vehicle up to 300 km, these can take it to 500 km,” said Singh.

Another BIG DECISION from Modi Government Set to Arrive? PUSH to Commercial Mining

As part of this, highly placed sources said the government would discontinue the practice of offering mining rights for mineral resources, including coal, to companies for captive use, as per a report in IANS. Instead, a new hybrid mining lease agreement would be framed under which companies would be free to use extracted mineral both for captive use of end use plants (power, steel, cement etc) and commercial sale in the open market.

Govt Saves US$ 1.54 Billion in First Year of Fertiliser DBT Implementation

Through real-time tracking of the movement, requirement and availability of stocks, fertiliser DBT has enhanced the transparency and has improved the supply by easing the record-keeping and paperwork. Under the fertiliser DBT, which introduced in October 2017, government remits the subsidy to fertiliser companies only after retailers have sold the fertiliser to farmers through Aadhaar-based authentication.

Indian Aircraft Maintenance Industry Takes off

Government initiatives such as exempting MRO service providers from customs duties on aircraft parts and toolkits and extension of storage period for aircraft spares to up to three years have helped companies such as Airworks, Max Aerospace Group and other MROs run by Air India and GMR post a boost in their business in about 18 months, industry executives said