Economy

News on Indian Economy

INR. 49,965 crore transferred directly into farmers’ Account Across India (DBT)

The Secretary, Department of Food & Public Distribution Shri Shudhanshu Pandey today briefed the media persons about PMGKAY-3 and One Nation One Ration Card scheme through a virtual press conference. Speaking about the “Pradhan Mantri Garib Kalyan Anna Yojana” (PM-GKAY III), the Secretary said that the department started implementation of “Pradhan Mantri Garib Kalyan Anna Yojana” (PM-GKAY III) for two months period i.e. May and June 2021 in same pattern as earlier by providing an additional quota of free-of-cost foodgrains (Rice/Wheat) at a scale of 5 Kg per person per month, over and above their regular monthly NFSA entitlements to about 80 Crore beneficiaries covered under both categories of NFSA, namely Antyodaya Anna Yojana (AAY) and Priority Householders (PHH). The Government of India will bear all expenditure of over Rs 26,000 Crore on account of food subsidy and Central assistance to states/UTs on account of intrastate transportation etc.

49% Increase in Wheat Procurement for Ongoing RMS 2021-22 in Comparison to Corresponding Period of Last Year

Procurement of Wheat in ongoing RMS2021-22 is continuing smoothly in the procuring States of Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan,Uttarakhand, Chandigarh, Himachal Pradesh, Delhi, Gujarat, Jammu & Kashmir and Bihar at MSP, as was done in previous seasons, and till now (upto 06.05.2021) a quantity of over 323.67 LMT of Wheat has been procured against the last year corresponding purchase of 216.01 LMT. About32.21Lakh farmers have already been benefitted from the ongoing RMS procurement operations with MSP value of Rs. 63,924.56Crore.

Incap Invests in a Third Factory In India

Incap’s Tumkur factories are located near Bangalore in India and they specialise in the manufacturing of electronics and box-build products. The focus is on industrial customers such as automation, power generation and telecom companies. The factories serve customers all over the world and employ approximately 1,400 people.

India Predicts Another Agricultural Expansion

India has forecast an expansion of agriculture despite a massive surge in Covid-19 numbers, as farmers are projected to raise output to record levels in the oncoming kharif or summer-sown season, following a pandemic-defying performance in 2020.