News on Indian Economy
Real GVA has grown by 6.8% in Q1 of FY 2024-25 over the growth rate of 8.3% in Q1 of the previous financial year. This GVA growth in the Q1 of FY 2024-25 has been driven by significant growth in the Secondary Sector (8.4%), comprising of Construction (10.5%), Electricity, Gas, Water Supply & Other Utility Services (10.4%) and Manufacturing (7.0%) sectors.
Solar Energy Corporation of India Ltd (SECI), a Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy has been granted the Navratna status on 30th August 2024 by the Ministry of Finance.
The Prime Minister also laid the foundation stone for important fishery infrastructure projects including development, upgradation and modernization of fishing harbours, fish landing centers and construction of fish markets. He handed out transponder sets and Kisan Credit Cards to fishermen beneficiaries
Malaysia is one of the important inbound tourist source markets for India. In the year 2022, over 2.5 lacs Malaysian tourists visited India. It is hoped that the Memorandum of Understanding will give further fillip to tourist arrivals from Malaysia.
The ICI measures the combined and individual performance of production of eight core industries viz. Cement, Coal, Crude Oil, Electricity, Fertilizers, Natural Gas, Refinery Products and Steel. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
The Meerut City – Lucknow Vande Bharat will help passengers save around 1 hour in comparison to the current fastest train between the two cities. Likewise, the Chennai Egmore – Nagercoil Vande Bharat and Madurai – Bengaluru Vande Bharat trains will cover the journey saving more than 2 hours and around 1 hour 30 mins respectively.
In his radio programme, PM Modi said small online payments are helping build a big digital economy and many new fintech start-ups are coming up. He also urged all to try out an unique ‘Cashless Day Out’ experiment by going cashless and opting for digital transactions.
The export growth of Ceramic tiles has been achieved because of a surge in shipments of Ceramic Tiles and Sanitary wares products. Today Indian Tile Industry has become global player and earns foreign exchange for the nation with “Make In India” approach and today India’s is World’s second largest manufacturer of tiles.
“Any request for closure of a credit card shall be honoured within seven working days by the credit card-issuer, subject to payment of all dues by the cardholder. Subsequent to the closure of credit card, the cardholder shall be immediately notified about the closure through email, SMS, etc,” the banking regulator says.
The availability of high speed internet access will help in establishment of software parks & high speed Data centers for business purposes in North Eastern States. It will benefit the citizens in accessing various e-services such as e-governance, e-education, e-health, e-commerce, e-banking, etc. It will also result in increase of employment & tourism in these states.
