US Largest Trading Partner of India During Apr-Oct: Govt
Similarly, the bilateral trade with UAE has grown to USD 49.06 billion in 2021, from USD 29.48 billion in 2020 for the same period.
Economy
News on Indian Economy
India Achieves Ambitious Target of 40% of Installed Electricity Capacity from Non-Fossil Fuel Sources Way Ahead of Target Year
India has achieved the ambitious target of 40 per cent of installed electricity capacity from non-fossil fuel sources. The Ministry of New and Renewable Energy has said that total installed non-fossil fuel-based capacity stands at 156.83 Giga Watts in the country. It said, the country has achieved this target last month, way ahead of the target year set at Conference of the Parties-21 held in France.
Central Vista Avenue Work 60% Complete
The Union government on Thursday told the Parliament that the physical progress of the redevelopment of Central Vista Avenue and the new Parliament building, part of the Central vista redevelopment project, stands at 60% and 35% complete respectively.
India will have Nine Nuclear Reactors by 2024: Govt
The nation will have nine nuclear reactors by 2024 and a new nuclear project, the first in northern India, will come up 150 kms away from Delhi in Gorakhpur of Haryana, the government informed the Rajya Sabha.
Minister of state for personnel, public grievances and pensions Jitendra Singh said, “By 2024 you will have nine nuclear reactors plus 12 new additional ones which were approved during the Covid times with a capacity of 9000 MW. Five new sites are also being identified in different parts of the country.”
India, Sri Lanka Finalise Four-Point Package for Economic Cooperation
India and Sri Lanka have framed a four-point package, including a line of credit to cover the import of food and medicines and a currency swap arrangement, to deepen economic cooperation and to help the island nation cope with economic problems.
Hiring Activity in India Grows by 26% Annually in Nov’21: Naukri JobSpeak
According to the Naukri JobSpeak index, hiring activities witnessed a surge of 26% YoY, driven by a growth in retail sector, festive enthusiasm, and the opening of educational institutes. The index was at 2173 level in November 2021 as against 1727 in November 2020. However, a marginal drop from 2523 level recorded this year in October could be seen.
Apartment Registrations Attain 79% YoY Growth for 11-Month Period Ending November
Knight Frank India, the leading real estate consultancy in India in its report stated that the West Bengal government has agreed to levy stamp duty at a reduced rate till the end of the year (2021), resulting in a 79% increase in residential property registrations in greater Kolkata between January-November 2021. The 2% stamp duty exemption performed wonders for Kolkata’s residential real estate sector in the second half of 2021, boosting sales by more than half (51%) between July-November 2021.
Six Greenfield Airports have Become Operational in Last 3 Years, 5 are Under Construction
During the last 3 years, following six Greenfield airports have become operational: Kannur Airport in Kerala (2018), Pakyong Airport in Sikkim (2018), Kalaburagi Airport in Karnataka (2019), Kurnool Airport in Andhra Pradesh (2021), Sindhudurg Airport in Maliarashtra (2021) and Kushinagar Airport in Uttar Pradesh (2021). In addition, during the last 3 years, construction of Greenfield airports at Navi Mumbai in Maharashtra, Mopa in Goa, ,Hirasar in Rajkot, Jewar(Noida) in Uttar Pradesh and Hollongi in Itanagar, Arunachal Pradesh are being undertaken.
Tata Power Bags India’s Largest Solar and Battery Project Worth INR 945 Crore
Tata Power has been presented with a project by Solar Energy Corporation of India (SECI) to build a 100 MW EPC solar project and a 120 MWh utility-scale Battery Energy Storage System (BESS). The Tata Sons subsidiary mentioned in a statement on Wednesday that the project is aimed to complete within 18 months and has an approximate value of Rs 945 Crore (US$ 126 million)
GDP Likely to Grow More than 9.5% in FY22: Report
India’s Gross Domestic Product (GDP) is likely to grow more than 9.5% in fiscal 2021-22, as per an SBI research report. Second quarter current fiscal year GDP by National Statistical Office (NSO) released on Tuesday reported that country’s economy witnessed a growth of 8.4%. The growth in the April-June quarter this fiscal stood at 20.1%.