News on Indian Economy
India’s Prime Minister Mr Narendra Modi is set to release more than Rs 20,000 crore (US$ 2.68 billion) to nearly 100 million beneficiary farmer families on January 1, 2022, the first day of the new year under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). This will be the 10th instalment of financial benefits under this scheme.
Defence Minister Mr Rajnath Singh unveiled 27 roads and bridges projects implemented by the Border Roads Organisation (BRO), which included one built at an altitude of more than 19,000 feet on the Umling-La pass in southern Ladakh. Mr Rajnath Singh highlighted that the road has become the world’s highest motorable road. He acknowledged that the BRO accomplished the “historic accomplishment” of constructing the road in southern Ladakh despite various hurdles, including extreme altitude and sub-zero temperatures.
According to media reports, telecom operator Bharti Airtel and IT major Tata Consultancy Services (TCS) have teamed together to develop a 5G-based remote working system based on robotics. Airtel’s 5G facility in Manesar, Haryana, is now hosting both firms’ testing.
CESL is providing high quality 7-Watt and 12-Watt LED bulbs with 3 years guarantee at a cost of INR 10 per bulb in exchange of working incandescent bulbs. Every household can exchange a maximum of 5 bulbs. The distribution has resulted in energy savings of 71,99,68,373.28 units per year with cost savings of 250 crores per year in the rural areas of aforementioned states. The programme is active till March 31, 2022.
During the last 7.5 years, India has witnessed the fastest rate of growth in renewable energy capacity addition among all large economies, with renewable energy capacity (including large hydro) growing 1.97 times and solar energy expanding over 18 times.
Raksha Mantri Shri Rajnath Singh dedicated to the Nation 24 bridges and three roads, built by Border Roads Organisation (BRO) in four States and two Union Territories, through a virtual event from New Delhi on December 28, 2021. Of the 24 bridges, nine are in Jammu & Kashmir; five each in Ladakh & Himachal Pradesh; three in Uttarakhand and one each in Sikkim & Arunachal Pradesh.
IndusInd Bank said in a statement to Reuters on Monday that it has collaborated with the National Payments Corporation of India (NPCI) to deliver real-time cross-border remittances to India using UPI IDs for its Money Transfer Operator (MTO) partners.
Paras Defence and Space Technologies Limited has been chosen by the DRDO as one of the Companies for handing over the technology of Border Surveillance Systems as developed by Instruments Research & Development Establishment and Defence Research and Development Organization (DRDO).
The government’s paddy procurement at MSP reached 443.49 lakh tonnes so far in the ongoing marketing year that commenced from October 2021, with the maximum quantities being purchased from Punjab, Haryana and Telangana, the food ministry said on Monday.
PM Inaugurated and laid the foundation stone of hydropower projects worth over Rs 11,000 crore. Some of the hydropower projects are Luhri Stage 1 Hydro Power Project and Dhaulasidh Hydro Power Project. Governor Himachal Pradesh, Shri Rajendra Vishwanath Arlekar, Chief Minister of Himachal Pradesh Shri Jai Ram Thakur, Union Minister, Shri Anurag Singh Thakur were among those present on the occasion.
