News on Indian Economy
The Government of India has planned a 760km new Bullet Train corridor to connect Varanasi with Howrah through a high speed bullet train service. A private agency appointed by Indian Railways has commenced route survey of the proposed high speed rail corridor in Giridih district of Jharkhand state to identify routes and villages that the project will affect.
The country has almost reached the halfway mark (49.5 per cent) by the end of September 30, said Srikar K. Reddy, Joint Secretary, Union Ministry of Commerce and Industry.
According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $641.008 billion from $639.516 billion reported for the week ended 8 October.
India on Friday handed over the 34.9km-long cross-border rail link connecting Jaynagar in Bihar to Kurtha in Nepal to the Nepal government, a move that is expected to enhance trade and commerce activities as well as people to people linkages between the two countries.
It’s an engineering marvel under way at an altitude of over 13,000-feet in icy cold weather to bolster all-weather connectivity and swifter military deployments to the critical Tawang and Kameng regions of Arunachal Pradesh along the China frontier.
Union Commerce and Industry Minister Mr. Piyush Goyal stated that all indicators, including GDP, foreign direct investment (FDI) inflows and exports growth, are indicating towards a strong and sharp economic recovery in the country.
State-owned GAIL (India) Ltd will build India’s largest green hydrogen-making plant as it looks to supplement its natural gas business with carbon-free fuel.
Hon’ble Prime Minister launched PM GatiShakti NMP for multi-modal connectivity on 13th October, 2021. Implementation framework includes Empowered Group of Secretaries (EGOS), Network Planning Group (NPG) and Technical Support Unit (TSU) with required technical competencies.
India Inc salaries are anticipated to see a median salary rise of 9.3% in 2022 – rendering to an average salary rise of 8.8% — as compared to the actual median salary rise of 8% (average salary rise of 7.4%) in 2021, according to the latest Salary Budget Planning Report by Willis Towers Watson.
As reported in the same news item this could be the conspiracy to malign the image of India as a reliable suppliers of quality rice to the world. The experts in India both from Genetic Engineering Appraisal Committee (GEAC) and Agricultural experts from IARI and other rice experts in India are however, investigating the matter but re-confirming that commercial GM variety of rice is not grown in India.
