News on Indian Economy
India is halfway through an ambitious plan to deliver safe drinking water to all 192 million homes in 600,000 villages by 2024. Hundreds of thousands of contractors and labourers are installing more than 2.5 million miles of the pipe as part of the US$ 50 billion projects, which about 18,000 government engineers are overseeing.
According to separate notifications of the Central Board of Indirect Taxes and Customs (CBIC), the duties have been imposed on certain flat rolled products of aluminium; sodium hydrosulphite (used on dye industry); silicone sealant (used in manufacturing of solar photovoltaic modules, and thermal power applications); hydrofluorocarbon (HFC) component R-32; and hydrofluorocarbon blends (both have uses in refrigeration industry).
The BRAHMOS Manufacturing Centre, announced by BrahMos Aerospace, is a modern, state-of-art facility in the Lucknow node of UP DIC. It will cover over 200 acres and produce the new BRAHMOS-NG (Next Generation) variant, which carries forward the lineage of the BRAHMOS weapons system. This new centre would be ready over the next two to three years and will commence production at a rate of 80-100 BRAHMOS-NG missiles per year.
The government continues to make efforts to move up in the global electronics supply chain and is expected to come up with new policies and incentive schemes for wearables and IT hardware
India can generate 813 billion dollar in revenue, with a $272 billion investment in agritech and allied segments by 2030, creating 152 million jobs, making it the country’s largest private sector industry.
India and the UAE have completed negotiations for a bilateral trade agreement, with an announcement to be made during PM Narendra Modi’s visit to the West Asian country in the first week of 2022, in a move that is expected to boost trade with countries in the Gulf as well as Africa.
150 million dollars were allocated for the reconstruction in housing sector, 100 million as grant and 50 million in the form of Line of Credit. It has helped in the construction of 50,000 houses in Gorkha and Nuwakot districts of Nepal. The GoI has appointed UNDP and UNOPS as socio technical facilitation consultants for Gorkha and Nuwakot district in 2018.
The Minister said that this revolutionary technology would achieve traffic efficiency by minimizing traffic problems, efficient infrastructure usage, enriching users with prior information about traffic, reducing travel time and enhancing the safety and comfort of commuters.
IT company Infosys became the fourth Indian firm to hit a market capitalisation of Rs 8 trillion (lakh crore) as its shares touched an all-time high of Rs 1913 on BSE in early morning.
According to a survey by Prime Database, the Indian IPO market is unstoppable, with 63 firms generating about Rs.1.2 lakh crore (US$ 15.4 billion) through initial share sales so far in 2021, powered by a host of new-age tech companies.
