News on Indian Economy
The finance ministry believes India’s fiscal deficit for FY21 may not be as low as budgeted. 9.5% of GDP, with both revenue and expenditure is expected to be higher than anticipated. The central government’s fiscal position has improved in the second half of FY21 due to a revival in economic activities. T
Recognizing the need to address the challenge of marine plastic pollution, Geocycle the global waste management arm of LafargeHolcim is piloting in India a smart and non-invasive technology to remove plastics from canals before they reach the oceans.
Procurement of Wheat in ongoing RMS2021-22 is continuing smoothly in the procuring States of Uttar Pradesh, Madhya Pradesh, Bihar, Rajasthan,Delhi, Himachal Pradesh and Jammu & Kashmir at MSP, as was done in previous seasons and till now (upto17.05.2021) a quantity of over 373.51 LMT of Wheat has been procured against the last year corresponding purchase of 300.58 LMT. About38.22Lakh farmers have already been benefitted from the ongoing RMS procurement operations with MSP value of Rs. 73,768.74Crore.
Net foreign direct investment (FDI) into the country hit a fresh high of $43.366 billion in the year ended March 2021 as it crossed the previous high of $43.013 billion that it had reach last fisacl. In a Covid-hit year, the FDI witnessed a big thrust from stake sale by Reliance Industries (RIL) group companies, which raised around $35 billion during the fiscal year.
Since February, Polygon has seen its market cap jump 10x owing to increased adoption by players in gaming, non-fungible tokens, and decentralised finance
Jio, in conjunction with several key global partners and world-class submarine cable supplier SubCom, is currently deploying two next generation cables to support the extraordinary growth in data demand across the region.
Spice Money has extended ATM services to Chitkul, India’s last inhabited village in Himachal Pradesh for the first time.
Teams from Naval Dockyard Visakhapatnam achieved a major breakthrough in repairing two major Oxygen Plants at Nellore and Shri Kalahasthi bringing a major boost to the Oxygen Supply in the State of Andhra Pradesh during the ongoing Oxygen crisis. Based on a request from the State Administration, Eastern Naval Command airlifted the teams of specialists from Naval Dockyard by naval Dornier Aircraft from Visakhapatnam.
The tunneling work gets completed by Tunnel Boring Machine [TBM ] in East West Metro Corridor with the breakthrough of “Urvi“ at Bowbazar, Kolkata on 15.05.2021. With this breakthrough the entire TBM tunneling for the Kolkata East-West Metro Project is completed. The stretch was difficult for tunneling work as it had century old buildings. This challenging tunnel drive of 800m has been completed successfully amidst this pandemic situation following COVID-19 protocol.
Indian Railway is continuing to extend the Wi-Fi facility at far flanged stations to connect the passengers and the general public with digital systems.
