Economy

News on Indian Economy

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.

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.

PMUY 2.0 Nears 10 Million LPG Connections Target, 9.5 Million KYCs Already in Place

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.

Record Foodgrain Production of 150.50 Million Tonnes Estimated in Kharif Season

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.