News on Indian Economy
The Ministry of Micro, Small and Medium Enterprises said that the number of units and jobs produced under the Prime Minister Employment Generation Programme (PMEGP) increased by 39% each as compared to the previous year, while the margin money distribution (subsidy) increased by 36% in FY 2021-22.
According to the DGCIS data, India had exported non-basmati rice worth USD 2015 million in 2019-20, which rose to USD 4799 million in 2020-21 and USD 6115 million in 2021-22.
For the first time, fresh figs from Purandar taluka of Maharashtra’s Pune district with GI tags have been exported to Europe. The Purandar Highlands Farmers Producers Company (PHFPC) has managed to successfully export a consignment to Germany. The export was facilitated by the Maharashtra State Agriculture Marketing Board (MSAMB). Fresh figs from Purandar is highly perishable, has never been exported before this.
Garden Reach Shipbuilders & Engineers Limited (GRSE) celebrated its 63rd Raising Day on April 19, 2022. On the eve of its 63rd Raising Day, the leading warship builder in the country has achieved another significant milestone by undertaking docking of 110 metre long Large Survey Vessel ‘Sandhayak’ at Dock No 2 of its Rajabagan Dockyard (RBD) Unit.
The IMF Managing Director Kristalina Georgieva lauded India’s well-targeted policy mix that has helped the Indian economy remain resilient in her meeting with Finance Minister Nirmala Sitharaman on Monday (local time) in Washington DC.
Prime Minister Narendra Modi on Tuesday said India produces milk worth Rs 8.5 lakh crore annually, more than the turnover of wheat and rice, with small farmers being the biggest beneficiaries of the dairy sector.
According to the latest data from the industry association Society of Indian Automobile Manufacturers (SIAM), passenger car exports from India surged by 43% in FY22, a total of 5,77,875 units. In FY22, Maruti Suzuki India (MSI) topped the vertical, with Hyundai Motor India and Kia India coming in second and third. Utility vehicle exports increased by 46% to 2,01,036 units. Van exports increased to 1,853 units in FY22, up from 1,648 units in FY21.
India’s Sugar Exports witnessed an astounding growth of 291% from USD 1,177 million in FY 2013-14 to USD 4600 million in FY 2021-22. As per DGCI&S data, India exported sugar to 121 countries across the globe.
The Ministry of Commerce and Industry announced that the road transport ministry had finished 1,41,190 kilometres of national highways as of March 31 this year, out of a target of 2 lakh kilometres for 2024-25
In March 2022, India’s exports increased 19.76% to US$ 42.22 billion, thanks to strong growth in sectors like petroleum products, engineering, and leather, while imports increased by 24.21% to US$ 60.74 billion, meaning the trade deficit during the month widened to US$ 18.51 billion. This was the first time that India’s monthly merchandise exports exceeded US$ 40 billion.
