News on Indian Economy
The Union Cabinet chaired by the Prime Minister Narendra Modi was apprised of the Joint Declaration of Intent (JDI) between India and Germany regarding cooperation on strategic projects in the field of Railways. The Joint Declaration of Intent was signed last month.
In 2016, the government launched eNAM, an online platform for farmers with agricultural markets online, helping farmers to view all agriculture-related information, commodity pricing, and buying and selling of goods. Additionally, the government also launched a crop insurance scheme, Pradhan Mantri Fasal Bima Yojana, assisting farmers with insurance services.
The Union Minister for Petroleum and Natural Gas, Dharmendra Pradhan, said in Parliament yesterday that the target of 8 crore under Pradhan Mantri Ujjwala Yojana (PMUY) to provide deposit free LPG connections to adult women of poor households has been achieved on 7 September 2019.
Taiwan’s state-run oil supplier CPC Corp opened an office in New Delhi this week as part of its plans to set up a plant in India and forge ties with the nation’s petrochemical industry. At the opening ceremony, CPC president Lee Shun-chin said the step symbolises efforts for a presence in India to back Prime Minister Narendra Modi’s Make in India initiative.
“India’s foreign exchange reserves were at $451.7 billion on December 3, 2019 — an increase of $38.8 billion over end-March 2019,” RBI Governor Shaktikanta Das said at the post monetary policy press conference.
The Indian arm, GKN Fokker Elmo India, will manufacture electrical wiring interconnection systems at the new plant in Chakan.
“It will be the first corporate ETF, which will provide additional money for PSUs (public sector undertakings) as well as other government organisations,” Sitharaman told reporters after the proposal was approved by the cabinet chaired by Prime Minister Narendra Modi.
India’s total trade with the world in 2017 was $587.36 billion, and, significantly, intra-BRICS trade accounted for 19.32% of that.
Bids for 15,100 MW of wind power projects have been issued, out of which projects of 12,162.50 MW capacity have been awarded.
Under the Namami Gange Program, a diverse set of interventions like pollution abatement activities, including sewage and industrial effluent treatment, solid waste management, river front management, aviral dhara, rural Sanitation, afforestation, biodiversity conservation, public participation, and other initiatives have been taken up for the cleaning and rejuvenation of the Ganga river.
