News on Indian Economy
According to the Central Government 42 firms out of 52 have been selected under the Production-Linked Incentive (PLI) Scheme for white goods. 26 firms would invest Rs. 3,898 crore (US$ 522.97 million) for air conditioner components and 16 firms would invest Rs. 716 crore (US$ 96.06 million) for LED component manufacturing.
Lt. Governor Ladakh R.K. Mathur today met Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh and thanked the Council of Scientific and Industrial Research (CSIR) under the aegis of Union Ministry of Science & Technology for promoting “Leh Berry” which is an exclusive food product of the cold desert and also a means of wide-ranging entrepreneurship as well as self-livelihood.
NNTPC Ltd has informed to the exchanges regarding completion of trial operation by 660 MW capacity unit of Barh Super Thermal Power Project.
Under the National Supercomputing Mission, India has increased its capability by adding a 650-teraflops system at the National Agri-Food Biotechnology Institute (NABI) in Mohali. The system was inaugurated by the minister of state for science and technology Jitendra Singh on Tuesday. The facility has been established at the cost of ₹20 crores.
The Indian delegation was led by Shri B.V.R. Subrahmanyam, Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India and the Bhutanese delegation was led by H.E. Dasho Karma Tshering, Secretary, Ministry of Economic Affairs, Royal Government of Bhutan.
In a historical achievement, CRS authorization has been received for introduction of AC electric traction to & from Guwahati railway station. Guwahati is the biggest and busiest railway station of Northeast being located in the capital of Assam. So the biggest city of Northeast is now literally connected with all metros and other big cities through 25KV AC traction.
In order to further reduce carbon footprint, Coal India Ltd (CIL), Ministry of Coal has recently initiated the process of retrofitting Liquefied Natural Gas (LNG) kits in its dumpers – the big trucks engaged in transportation of coal in mines. CIL, the world’s largest coal miner uses over 4 lakh kilolitres of diesel per annum with an expense of over Rs. 3,500 crore.
According to data from the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) crossed US$ 100 billion in a month for the first time in October, further cementing its position as India’s most popular digital payments system. A mammoth 4.2 billion UPI transactions amounting to Rs. 7.71 lakh crore (US$ 103 billion) were recorded in the month, indicating all-time highs on both counts for the five-year-old payments channel.
Pakal Dul HE Project (1000 MW) is being constructed by Chenab Valley Power Projects [P] Ltd. a joint venture company of NHPC Ltd (Govt of India Enterprise) and JKSPDC (Govt of J&K Enterprise). CVPPPL has been entrusted 3094 MW Hydro Power Projects for construction in J&K. Marusudar River is a major tributary of Chenab River. Diversion of River will pave the way for acceleration in construction activities of the Project.
According to provisional data released by the government, India’s merchandise exports in October rose 42.33% to US$ 35.47 billion.
