News on Indian Economy
On the back of domestic fundamentals, overseas investors were net purchasers in Indian markets worth Rs. 1,210 crore (US$ 163.05 million) in the first five trading sessions of August. According to depositories data, they invested Rs. 975 crore (US$ 131.36 million) in shares between August 2 and 6.
Of the said quantity, the maximum 77.20 per cent was exported to Nepal, followed by 13.04 per cent to Bangladesh, according to the Coal Ministry’s Provisional Coal Statistics 2020-21.
The Kolkata-based shipbuilding company said that GRSE bagged the order for this vessel on competitive bidding, and the contract was signed with the Transport and Harbours Department of Govt. of Guyana. The 70 M long, 1700 tonnes vessel will be propelled by two caterpillar engines and will have a maximum speed of 15 knots.
Union Road and Transport Minister Nitin Gadkari on Saturday said that he believes that within three years, the entire country will be provided with national highways parallel to the standards of the American highways.
Initially, 2 DEMU rakes will be converted and later, 2 Hybrid locos will be converted based on Hydrogen Fuel cell power movement. There will be no change in the driving console. Also, the project will lead to saving of Rs.2.3 Cr. annually.
He added that target must be set to increase the export of handloom items from existing 2,500 crore rupees to 10,000 crore rupees in the next three years. Addressing an event on the occasion of 7th National Handloom Day here today, Shri Goyal said that nation is committed to ensure sustainable development of the handloom sector thereby empowering handloom weavers and workers financially and instilling pride in their exquisite craftsmanship.
Prime Minister Mr. Narendra Modi will launch a national campaign on Friday to meet a US$ 400 billion merchandise export target for the current fiscal year. In the first four months of 2021-22, India achieved roughly a third of its yearly objective.
India’s state refiners plan to invest Rs. 2 trillion (US$ 26.96 billion) by 2025 to increase oil refining capacity by 20% in Asia’s third-largest economy, according to Mr. Rameswar Teli, Minister of State Ministry of Petroleum and Natural Gas.
Indian Space Research Organisation (ISRO) has launched a study to explore whether quality assurance mechanisms used in space technology to reduce human errors can be replicated in Indian hospital settings to ensure zero defect and quality of service in the emergency and intensive care units.
Border Roads Organisation (BRO) has constructed and black-topped the highest motorable road in the world at 19,300 ft at Umlingla Pass in Eastern Ladakh, creating a record in high-altitude road construction. It has constructed a 52-km long tarmac road through Umlingla Pass, bettering the previous record of a road in Bolivia connecting to its volcano Uturuncu at 18,953 ft.
