BUSINESS
India saw production worth Rs 67,275 cr under PLI for large-scale electronics: Eco Survey
The PLI for large-scale electronics manufacturing was notified on April 1, 2020 which provides an incentive of 4 to 6 percent on incremental sales (over base year) to eligible companies involved in mobile phone manufacturing and manufacturing of specified electronic components, including assembly, testing, marking and packaging (ATMP) units.
Satellite images used to track economic activity
The Survey looks at the use of a new kind of data – geo-spatial data and cartographic techniques – to track, compare and represent longer term developments. Geospatial maps not only lets users visualise the data, but also helps users to better understand trends, relationships and patterns. The use of maps is not entirely new and previous Economic Surveys have used them for years, but there is now a plethora of information from satellites, drones, mobile phones and other sources.
Tata Motors reports Q3FY22 net losses at Rs 1,451 cr
In the same quarter last fiscal, the net profits were at Rs 2,941 crore, the company said in its earnings report. "India operations showed significant revenue improvement as compared to Q3 a year ago, however, commodity inflation impacted the margins," it said in the filing. The passenger vehicles segment continued its turnaround journey and strengthened its double-digit market share with highest sales in any calendar year since inception.
Seasonal, shock components contributing to spikes tomato, onion prices: Economic Survey
"Strategies to incentivise production during lean season should be designed. Investments in processing of surplus production of tomato, and processing and storage infrastructure of onion must be promoted. Cutting wastage of the production, better supply chain management will also help in meeting the demand," said the Survey, tabled in Parliament by Union Finance Minister Nirmala Sitharaman on Monday,
Even during Covid waves housing prices increased in some cities
Further, decline in housing transactions have also been much less during second COVID-19 wave than the decline during first COVID-19 wave. During first COVID-19 wave housing transactions declined in almost all selected cities. However, during second wave of COVID-19, the housing transactions in many cities such as Mumbai, Thane, Pune, Noida, Hyderabad, and Bengaluru increased relative to the pre-pandemic levels.
Telecom reforms to infuse liquidity, boost 4G proliferation: Eco Survey
As per the Survey, tabled in Parliament on Monday by Union Finance Minister Nirmala Sitharaman, these reforms will also create an enabling environment for investment in 5G networks. Recently, the Centre had undertaken structural and procedure reforms in the sector, it said.
India needs to be wary of 'imported inflation' from high energy prices: Eco Survey
As per the Survey, which was tabled in Parliament on Monday by Union Finance Minister Nirmala Sitharaman, the average headline Consumer Price Index-Combined (CPI-C) inflation in India moderated to 5.2 per cent in 2021-22 (April-December) from 6.6 per cent in the corresponding period of 2020-21 and was recorded at 5.6 per cent in December 2021.
India climbs 35 ranks in Global Innovation Index but lags in patents: Eco Survey
Most of India's startups are in the IT/knowledge-based sector and intellectual property, specifically patents, are key to this knowledge-based economy. India's ranking in Global Innovation Index has climbed 35 ranks which is a "remarkable progress, but the number of patents granted in India is still a fraction compared to patents granted in China, the US, Japan and Korea", according to the Survey, tabled in the Parliament on Monday.
India's capital markets did 'exceptionally well': EcoSurvey FY22
Among major emerging market economies, the Indian markets outperformed its peers in April-December 2021 period, the Survey said. The Sensex and Nifty touched their peak, at 61,766 points and 18,477 points on October 18, 2021. "The year 2021-22 so far has been an exceptional year for the primary markets with a boom in fundraising through IPOs by many new age companies/tech start-ups/unicorns," the Survey said.
Delhi pips Bengaluru as startup capital of India: Eco Survey
Over 5,000 recognised startups were added in Delhi while 4,514 startups were added in Bengaluru between April 2019 and December 2021, according to the survey document. Maharashtra has the highest number of recognised startups at 11,308. India now has more than 61,400 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). At least 14,000 recognised startups have been added in 2021-22 fiscal, according to the Survey.
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