News on Indian Economy
Manufacturing activity enhanced to an 8-month high in October due to festival demand, but it failed to arrest employment cut off by firms as existing manpower were adequate to meet the rising demand, revealed IHS Markit Purchasing Managers Index (PMI) survey.
People’s massive turnout to purchase local products this festival, in response to Hon’ble Prime Minister’s appeal, has done wonders for Khadi. On 30th October, the single-day sale of Khadi at its flagship outlet at Connaught Place, New Delhi, stood at a whopping Rs 1,29,05,000 (Rs 1.29 crore), surpassing all previous records. Earlier, the highest ever single-day sale of Khadi was recorded at Rs 1,28,33,000(Rs 1.28 crore) on 2nd October 2019.
Power Grid Corporation of India Limited (POWERGRID), successfully inaugurated Remote operation of 250th Sub-station of POWERGRID (765/400 kV Khetri Sub-station, Rajasthan) from it’s National Transmission Asset Management Centre (NTAMC) at Manesar, Haryana.
The Leh administration has expanded oxygen supply in the forward areas by adding new plants as villagers and troops along the LAC (line of actual control) with China prepare for a harsh winter amid an uneasy border calm.
Shri C V Raju, a grassroots innovator from Etikoppaka village, Visakhapatnam, Andhra Pradesh, is preserving the traditional method of making Etikoppaka toys, a proud heritage rooted in his village, by making vegetative dyes and developing technologies for increasing the shelf life of the dyes.
The Minister inaugurated the launching function of three Floating Border Out-Posts (FBOP) for the Border Security Force and two Fully Electric Autonomous Ferries for ASKO Maritime AS, Norway, which are amongst the world’s first Autonomous Ferries.
Home to the world’s largest semiconductor and microprocessor manufacturing sector, Taiwan is also a hub for electronics and precision tools. India wants a steady supply of these key items and would like more Taiwanese companies to shift operations to India.
According to textiles ministry, India’s handicraft exports in the first six months of the FY22 stood at Rs. 15,995.73 crore (US$ 2.13 billion), a growth of over 60.34% over the same period last year.
The Department of Agriculture and Farmers Welfare has released 2020-21 (Third Advance Estimates) of Area and Production of various Horticultural Crops, compiled on the basis of information received from States/ UTs and other Governmental source agencies. Union Minister of Agriculture and Farmers Welfare, Mr. Narendra Singh Tomar informed that under the able leadership of Prime Minister Mr. Narendra Modi, due to the farmer-friendly policies of the government, tireless hard work of farmers and research of scientists, horticulture production in the year 2020-21 is estimated to be a record 331.05 million tonnes. This shows an increase of 10.6 million tonnes (3.3%) over 2019-20.
The gross GST revenue collected in the month of October 2021 is ₹ 1,30,127 crore of which CGST is ₹ 23,861 crore, SGST is ₹ 30,421 crore, IGST is ₹ 67,361 crore (including ₹ 32,998 crore collected on import of goods) and Cess is ₹ 8,484 crore (including ₹ 699 crore collected on import of goods).
