News on Indian Economy
Know-your-customer (KYC) approvals for 9.5 million new applications have already been received by the public sector oil marketing companies that are executing the system, according to oil ministry officials. Before commencing services, institutions must go through a KYC procedure to check the details of the intended recipient. A recipient’s KYC approval gets them one step closer to receiving the desired benefit.
First Advance Estimates of production of major Kharif crops for 2021-22 have been released by the Ministry of Agriculture and Farmers Welfare. The Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar said that the record foodgrain production of 150.50 million tonnes is estimated in kharif season. He said that, there has been bumper production due to hardwork of farmers, proficiency of scientists and farmer friendly policies of the Government in the leadership of Prime Minister Shri Narendra Modi.
The flying vehicle will be capable of vertical take-off and landing using its coaxial quad-rotor. It weighs a total of 1,100 kilograms and can handle a takeoff weight of 1,300 kilograms. The rotors would be powered using an electric battery. On the streets, the car would be powered using biofuel.
India might soon expand its market value by $400 billion, with Indian start-ups generating $10 billion through IPOs so far in 2021 and 150 private companies lining up to list on the country’s stock exchange, Goldman Sachs has predicted.
The portal as of today hosts approvals across 18 Central Departments & 9 States, another 14 Central depts & 5 states will be added by Dec’21
According to the Quick Estimates released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), the overall export of Agricultural and Processed Food Products Export Development Authority (APEDA) products has witnessed 21.8% growth in terms of US$ during April-August 2021 over the same period of the previous year.
Foundation for Environment Education in Denmark (FEE) which accords the globally recognized eco-label – Blue Flag certification, has also given re-certification for 8 nominated beaches Shivrajpur-Gujarat, Ghoghla-Diu, Kasarkod and Padubidri-Karnataka, Kappad-Kerala, Rushikonda- Andhra Pradesh, Golden-Odisha and Radhanagar- Andaman and Nicobar, which were awarded the Blue Flag certificate last year.
“Dynamatic has been associated closely with Boeing as a strategic tier-1 supplier partner for over a decade,” says Dynamatic’s chief executive Udayant Malhoutra. “The award for manufacturing aerostructures for the F-15EX Eagle II to Dynamatic is a testimony of our partnership with Boeing.”
Of the total 14.65 lakh net subscribers, around 9.02 lakh new members have come under the social security umbrella of EPFO for the first time. Around 5.63 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered by EPFO. This shows that majority of subscribers opted to continue their membership with EPFO, by transferring their past accumulations from previous job to the current PF account rather than applying for final withdrawal.
‘Dwarf’ containers provide a 67% increase in volume when double-stacked and can carry a weight of 71 tons, against 40 tons by an ISO container. In addition, Indian Railways has offered 17% discount on haulage cost compared to double stack ISO container trains, resulting in an overall 33% discount to shippers making Indian Railways competitive. Thus the rail movement of cargo through Dwarf containers has the potential to lower the EXIM logistics costs, making Indian exports globally competitive
