News on Indian Economy
Ms. Nirmala Sitharaman, Union Finance Minister of India, features in the Forbes’ annual list of 100 most powerful women. The finance minister ranked 37 on the list and was featured for the third consecutive time. In 2020, Ms Sitharaman occupied the 41st spot and 34th spot in 2019.
The US firm today formally recognised TLMAL as a potential co-producer of F-16 wings. The facility has the capacity to make 50 pairs of wings a year, Lockheed Martin officials said. A ceremonial event marking the first fighter wing prototype built at the TLMAL facility here was attended by KT Rama Rao, Minister for Industries and Commerce, Telangana.
The total cost of Ken-Betwa link project has been assessed at Rs.44,605 crore at 2020-21 price levels. The Union Cabinet has approved central support of Rs.39,317 crore for the project, covering grant of Rs.36,290 crore and loan of Rs.3,027 crore.
India surpassed Brazil in food exports to the League of Arab States for the first time in 15 years as the Covid-19 pandemic disrupted trade flows in 2020, according to data provided by the Arab-Brazil Chamber of Commerce to Reuters on Tuesday.
To certify the needed prevention of the Omicron variant of the COVID-19 virus, the Exemption from Air Suvidha has been dropped, and mandatory filings for all passengers have been implemented. All international passengers arriving in India are instructed to announce their current health status before boarding on the Air Suvidha Portal along with the required documents: Copy of Passport, PCR Negative Certificate from a Test conducted within 72 hours of departure, and the Vaccination Certificate. For Immigration, the APHO counter has to verify the copy on the email.
As stated by the Russian oil producer, the nation’s largest oil firm, Indian Oil Corporation (IOC), renewed their deal to buy up to 2 million tonnes of crude oil in 2022 from Russia’s Rosneft. IOC signed a deal with Rosneft Oil Company in February 2020 to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, IOC bought just one parcel or shipload when a supply of up to 1.7 million tonnes of crude oil was envisaged, as the cost of transporting the oil made it uneconomical when compared to alternatives.
Central government has disbursed Rs. 2,071 crore (US$ 275 million) loan for 4,003 projects as a part of Agriculture Infrastructure fund, Agriculture minister Mr. Narendra Singh Tomar mentioned in a written reply to the parliament.
Mills have contracted to export 33 lakh tonnes of sugar without the government subsidy so far in the 2021-22 marketing year, it added.
India and Russia can collaborate in the fields of civilian shipbuilding and inland waterways, Union minister Sarbananda Sonowal said on Monday.
As per India’s third BUR submitted to the UNFCCC in February 2021, total GHG emissions, excluding Land Use Land-Use Change and Forestry (LULUCF) in 2016 were 2,838.89 million tonne CO2e and 2,531.07 million tonne CO2e with the inclusion of LULUCF.
