News on Indian Economy
Govt. have put in place a system of Approved List of Models and Manufacturers, and only equipment manufactured by manufacturers in the approved list is allowed to be used for Wind Energy Projects. More than 70 percent of the equipment is manufactured in India.
Three Indian businesses are among the winners of a United Nations-sponsored global competition for the “Best Small Businesses” that provide creative, varied, and impactful solutions for increasing access to healthy and sustainable food.
Roads will be constructed in forests along the Indo-Nepal border in Uttar Pradesh to connect all Sashastra Seema Bal (SSB) outposts parallel to ”No Man”s Land” as per a Union home ministry order, a senior forest official said on Wednesday.
These digital initiatives have been launched to fill the gap areas where no action has yet been taken either by private players or any of the line ministries. The Launch Event was attended by more than 75 participants from the Central Ministries, Banks, IT companies, international organizations, logistics sector stakeholders and industry bodies.
The Railways has set the target to upgrade the indigenous train collision avoidance system (TCAS) as a product for exports. The TCAS will be branded as “Kavach”.
Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said that Government has planned to commission more nuclear power plants for power generation.
During FSP 2016-17 to FSP 2020-21, GSI carried out 14 projects on Lithium and associated elements in Bihar, Chhattisgarh, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Madhya Pradesh, Meghalaya, Karnataka and Rajasthan. During the present FSP 2021-22, GSI has taken up 7 projects on Lithium in Arunachal Pradesh, Andhra Pradesh, Chhattisgarh, Jharkhand, Jammu & Kashmir and Rajasthan. However, resource of lithium has not yet been augmented by GSI.
The Government has taken a number of steps, including strengthening of domestic manufacturing and promoting trade ties, with a number of trading partners, so as to ensure reliable and adequate supply chains. This is an ongoing process, based on the changing requirements in a dynamic world.
The Minister stated that the net direct tax collection in the 1st quarter of FY 2021-2022 is Rs. 2,46,519.82 crore as against Rs. 1,17,783.87 crore during the same period of previous FY 2020-21.
Weather the reserve funds are adequate to meet the international payment obligations, the Minister said that the ratio of forex reserves to total external debt stood at 101.2 per cent and short-term external debt to forex reserves stood at 17.5 per cent as at end-March 2021.
