ICRA Revises Up FY22 GDP Growth Forecast to 9%
A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement.
Economy
News on Indian Economy
Bharat Petroleum to Invest INR 1 Trillion to Become Future-Ready
India’s second-largest fuel retailer is looking to create a 1,000 MW portfolio of renewable power generation capacity
India Emerges as Dubai’s Second Biggest Trade Partner
Trade with India grew 74.5% year-on-year to 67.1 billion dirham from 38.5 billion dirham in H1 2020.
Centre Places Srinagar on International Aviation Map
“This is a historic step both for J&K and its people. Foreign travellers will soon be able to arrive directly in Srinagar,” civil aviation minister Jyotiraditya Scindia said at a joint press conference with J&K lieutenant governor Manoj Sinha. The media interaction followed a detailed review of all aviation matters related to the J&K, by Sinha and Scindia.
Gross Direct Tax Collections for the Financial Year (FY) 2021-22 Register A Growth of 47%
The figures of Direct Tax collections for the Financial Year 2021-22, as on 22.09.2021 show that net collections are at Rs. 5,70,568 crore, compared to Rs. 3,27,174 crore in the corresponding period of the preceding Financial Year i.e., FY 2020-21, representing an increase of 74.4%. The net collection (as on 22.09.2021) in FY 2021-22 has registered a growth of 27% over FY 2019-20 when the net collection was Rs. 4,48,976 crore.
Government Notifies PLI Scheme for Automobile & Auto components
The Government has issued Notification regarding Production Linked Incentive (PLI) Scheme for Automobile & Auto components. The PLI Scheme for Automobile & Auto components and its Guidelines have been notified in the Gazette of India on 23.09.2021. Earlier government approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry on 15.09.2021.
Anurag Thakur Launches India’s Highest Altitude Transmitters in Ladakh
The ministry informed that the 10KW transmitters are the highest altitude TV and Radio transmitters in the country, located at the height of 4,054 metres (about 13,300 ft) above the mean sea level. The range of the transmitter is over 50km in radius. And the transmitters at Leh are at an altitude of 3,501 metres (about 11,450 ft).
First India-Australia Joint Working Group (JWG) on “Coal and Mines” Held Virtually
This was co-chaired by Shri Vinod Kumar Tiwari, Additional Secretary, Ministry of Coal, from the Indian side and by Mr. Paul Trotman, Head of Resources Division from the Australian side. In his opening remarks Shri Tiwari provided overview of the coal sector in India and presented emerging scenario for future. He highlighted the priority areas to be included for possible collaborations in coal and mining sectors in both the countries.
Government e-Marketplace Bags Prestigious CIPS Award
The CIPS Awards are one of the leading recognitions around procurement globally, which is conducted under the aegis of The Chartered Institute of Procurement & Supply (CIPS), London. CIPS is a global not-for-profit organisation and professional body dedicated to promotinggood practices in procurement and supply management, with a community across 150 countries.
India’s Palm Oil Imports to Drop 9% as Farmers Expand Oilseeds Area
According to a renowned industry analyst, India’s palm oil imports in 2021/22 are projected to decline 9% from the previous year due to increased domestic supply, as farmers expand the area planted with oilseeds in response to record high prices.