News on Indian Economy
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.
The ministry informed that the 10KW transmitters are the highest altitude TV and Radio transmitters in the country, located at the height of 4,054 metres (about 13,300 ft) above the mean sea level. The range of the transmitter is over 50km in radius. And the transmitters at Leh are at an altitude of 3,501 metres (about 11,450 ft).
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.
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.
According to a renowned industry analyst, India’s palm oil imports in 2021/22 are projected to decline 9% from the previous year due to increased domestic supply, as farmers expand the area planted with oilseeds in response to record high prices.
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
