News on Indian Economy
During the last 7.5 years, India has witnessed the fastest rate of growth in renewable energy capacity addition among all large economies, with renewable energy capacity (including large hydro) growing 1.97 times and solar energy expanding over 18 times.
Raksha Mantri Shri Rajnath Singh dedicated to the Nation 24 bridges and three roads, built by Border Roads Organisation (BRO) in four States and two Union Territories, through a virtual event from New Delhi on December 28, 2021. Of the 24 bridges, nine are in Jammu & Kashmir; five each in Ladakh & Himachal Pradesh; three in Uttarakhand and one each in Sikkim & Arunachal Pradesh.
IndusInd Bank said in a statement to Reuters on Monday that it has collaborated with the National Payments Corporation of India (NPCI) to deliver real-time cross-border remittances to India using UPI IDs for its Money Transfer Operator (MTO) partners.
Paras Defence and Space Technologies Limited has been chosen by the DRDO as one of the Companies for handing over the technology of Border Surveillance Systems as developed by Instruments Research & Development Establishment and Defence Research and Development Organization (DRDO).
The government’s paddy procurement at MSP reached 443.49 lakh tonnes so far in the ongoing marketing year that commenced from October 2021, with the maximum quantities being purchased from Punjab, Haryana and Telangana, the food ministry said on Monday.
PM Inaugurated and laid the foundation stone of hydropower projects worth over Rs 11,000 crore. Some of the hydropower projects are Luhri Stage 1 Hydro Power Project and Dhaulasidh Hydro Power Project. Governor Himachal Pradesh, Shri Rajendra Vishwanath Arlekar, Chief Minister of Himachal Pradesh Shri Jai Ram Thakur, Union Minister, Shri Anurag Singh Thakur were among those present on the occasion.
As per the provisional figures of Indian Bureau of Mines (IBM), the index of mineral production of mining and quarrying sector for the month of October, 2021 (Base: 2011-12=100) at 109.7, was 20.4% higher as compared to the level during the same month last year. The cumulative growth for the period April- October, 2020-21 over the corresponding period of previous year has increased 11.4 per cent.
The Centre for Economics and Business Research (CEBR) from UK has predicted that Indian economy will become the world’s third largest by the year 2031. In the year 2022, India is set to regain its sixth position in World Economic League Table (WELT) from France, as per CEBR.
Both countries had stated that they hoped to complete a full trade agreement by the end of 2022 and sign an early harvest agreement by December 25. The goal of the early harvest agreement is to cover regions of urgent importance to both countries.
With an increased demand for digitization in the wake of the Covid-19 outbreak, India’s startup ecosystem saw a record investment of roughly US$ 36 billion in privately-held enterprises this year. According to Preqin, a UK-based investment data platform, venture and private equity investments surged thrice throughout the year, from US$ 11 billion in 2020 to US$ 31 billion in 2021.
