News on Indian Economy
Garden Reach Shipbuilders & Engineers Limited (GRSE) celebrated its 63rd Raising Day on April 19, 2022. On the eve of its 63rd Raising Day, the leading warship builder in the country has achieved another significant milestone by undertaking docking of 110 metre long Large Survey Vessel ‘Sandhayak’ at Dock No 2 of its Rajabagan Dockyard (RBD) Unit.
The IMF Managing Director Kristalina Georgieva lauded India’s well-targeted policy mix that has helped the Indian economy remain resilient in her meeting with Finance Minister Nirmala Sitharaman on Monday (local time) in Washington DC.
Prime Minister Narendra Modi on Tuesday said India produces milk worth Rs 8.5 lakh crore annually, more than the turnover of wheat and rice, with small farmers being the biggest beneficiaries of the dairy sector.
According to the latest data from the industry association Society of Indian Automobile Manufacturers (SIAM), passenger car exports from India surged by 43% in FY22, a total of 5,77,875 units. In FY22, Maruti Suzuki India (MSI) topped the vertical, with Hyundai Motor India and Kia India coming in second and third. Utility vehicle exports increased by 46% to 2,01,036 units. Van exports increased to 1,853 units in FY22, up from 1,648 units in FY21.
India’s Sugar Exports witnessed an astounding growth of 291% from USD 1,177 million in FY 2013-14 to USD 4600 million in FY 2021-22. As per DGCI&S data, India exported sugar to 121 countries across the globe.
The Ministry of Commerce and Industry announced that the road transport ministry had finished 1,41,190 kilometres of national highways as of March 31 this year, out of a target of 2 lakh kilometres for 2024-25
In March 2022, India’s exports increased 19.76% to US$ 42.22 billion, thanks to strong growth in sectors like petroleum products, engineering, and leather, while imports increased by 24.21% to US$ 60.74 billion, meaning the trade deficit during the month widened to US$ 18.51 billion. This was the first time that India’s monthly merchandise exports exceeded US$ 40 billion.
Country’s first-ever radio channel for the visually impaired, named ‘Radio Aksh’ has been launched in Nagpur, with the Blind Relief Association Nagpur and Samdrushti Kshamata Vikas Avam Anusandhan Mandal (Saksham) serving as the pioneers of the concept that will help the visually-impaired gain seamless access to education resources and audiobooks.
The Border Roads Organisation will construct the world’s highest tunnel at Shinku La Pass at 16,580 feet to connect Himachal Pradesh to Ladakh, BRO Director General Lieutenant General Rajeev Chaudhary said here on Saturday.
India is setting up a first-of-its-kind standalone renewable battery power bank envisaging an investment of Rs 2,000 crore to make green energy available on tap for discoms and grid operators during peak demand, but spike in prices of lithium — a key ingredient for making batteries — and supply chain disruptions due to the Russia-Ukraine conflict may weigh on industry response.
