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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (101908) | |
23441. Sea trials of Indian Navy's indigenously built stealth destroyer Mormugao begins in Arabian Sea
- Indian Navy's second indigenous stealth destroyer of the P15B class Mormugao, planned to be commissioned in mid 2022, proceeded on her maiden sea sortie
- he maiden sea sortie on December 19 is perhaps the most befitting date for the ship to be put to sea as the nation celebrates 60 years of Goa's liberation from Portuguese rule.
- Mormugao is being built at Mazagon Dock Shipbuilders Ltd (MDSL) as part of the Project 15B destroyers. The ship incorporates several niche indigenous technologies and is a shining example of Atmanirbhar Bharat (Self Reliant India). She has provided thrust and impetus to the 'Make in India' initiative.
23442. Indian economy on path to swift recovery: Finance Ministry report
- "India is well-placed on the path to swift recovery with growth impulses visibly transmitted to all sectors of the economy. The external sector continues to offer bright prospects to India's growth revival as the country's merchandise exports crossed the USD 30-billion mark for the sixth consecutive month in fiscal year 2021-22, it said.
- the external debt-to-GDP ratio continues to remain comfortable, declining to 20.2 per cent at the end-June 2021, from 21.1 per cent at the end-March 2021. the rate of growth of bank credit stood at 6.7 per cent YoY in the fortnight ending September 10, 2021 compared to 5.3 per cent in the corresponding period of the previous year.
- Comfortable levels of systemic liquidity and softening of inflationary pressure have also lent stability to G-Sec yields in September 2021 rail freight activity, e-way bills, robust GST collections, highway toll collections posting a 21-month high, sequential uptick in air freight and passenger traffic, and quantum leap in digital transactions.
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23443. Finance Ministry releases Rs 9,871 crore grant to 17 states
- The Finance Ministry on Monday said it has released Rs 9,871 crore of revenue deficit grant to 17 states The states which will receive money from the grant as recommended by the 15th Finance Commission are Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
- Grant of Rs. 9,871.00 crore to the States here today. With the release of this instalment, a total amount of Rs 69,097.00 crore has been released to eligible states as (PDRD) in the current financial year,"
- "The 15th Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs 1,18,452 crore to 17 States in the financial year 2021-22. Out of this, an amount of Rs 69,097.00 crore (58.33 per cent) has been released so far," the statement added.
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23444. Industry must begin using coal through gasification technology: JSPL MD
- The domestic industry must begin using coal through gasification technology. The gasification technology will also help India overcome the shortage of oil, gas, methanol, ammonia, urea and other products, making the country Atmanirbhar, he told PTI.
- Coal can be converted into syngas which can be used for producing power, petrol, diesel and other petroleum products, which can reduce dependence on crude oil imports, he explained. The government has set a target of gasifying 100 million tonne empty coal. This should be increased to 500 MT, Sharma said.
- India has coal reserves of 350 billion tonne and is the largest producer and supplier of coal India Ltd (Cil) does not produce even one billion tonne. It is India's first and the only plant producing steel from swadeshi coal using the coal gasification technology.
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23445. Indian economy to grow at 9.5% in 2021, 8.5% in 2022: IMF
- India's growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections.
- According to the latest WEO update, released ahead of the annual meeting of the IMF and the World Bank, the world is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022.
- India's economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is projected to be the fastest growing economy in the world in 2022.
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23446. From Markets to Maharaja: Indian Economy Finally Takes Off After Pandemic Turbulenc
- The Indian economy is showing signs of bouncing back ahead of the festive season, the revival reflecting in upbeat projections by global financial institutions,
- increased factory output, a bullish stock market, blockbuster IPOs, decline in unemployment rate and the Air India fillip to privatisation push.
- As per global projections, India will retain the tag of the fastest-growing economy in 2022. Here’s a closer look at factors that are key in keeping India north of the projections
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23447. ISRO Chief Says India Will Allow Private Companies To Invest In Space Sector
- According to Dr K Sivan, Chairman of the Indian Space Research Organisation and Secretary Department of Space, Government of India, who revealed this at the Indian Pavilion of Expo 2020 Dubai.
- Recent changes in the Indian space sector has highlighted how the role of the private sector has transitioned from being just suppliers to actual partners in the overall journey.
- Sivan revealed in a statement that the Indian government is now open to invite private players in the space sector. Moreover, ISRO is also collaborating with start-ups and industries for this.
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23448. Rs 814 cr received in dividend tranches from 5 CPSEs: DIPAM Secy
- Secretary of Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey has said that dividend tranches of about 296 crore rupees have been received from Power Finance Corporation Limited (PFC) and 233 crore rupees from Housing and Urban Development Corporation (HUDCO).
- Oil India Limited OIL has paid about 92 crore rupees, KIOCL 99 crore rupees and Satluj Jal Vidyut Nigam SJVN 94 crore rupees as dividend tranches to Government of India.
- Oil India Limited OIL has paid about 92 crore rupees, KIOCL 99 crore rupees and Satluj Jal Vidyut Nigam SJVN 94 crore rupees as dividend tranches to Government of India.
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23449. Trifecta Capital invests Rs 400 crore in four Indian tech companies
- Trifecta Capital said it has invested Rs 400 crore (about $53 million) across four companies from its maiden equity fund, Trifecta Leaders Fund - I.
- The fund has invested in ixigo, Good Glamm Group (MyGlamm), API Holdings (PharmEasy), and Meesho, in line with its strategy to back growth to late-stage category-leading tech companies.
- Ixigo is a multi-modal travel platform, while Good Glamm Group is a D2C (Direct-to-Consumer) beauty and personal care company and Meesho is a social-commerce company
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23450. Dhani Services to raise Rs 1,200 crore from General Catalysts, others
- General Catalysts will invest Rs 375 crore in the fintech enterprise of Indiabulls founder Sameer Gehlaut, who also pitched in an equal amount. Ribbit Capital has also come on board, as have Think Investments and First Royalty Ventures.
- Dhani is a primary healthcare and transactional finance platform.
- The company claims that it has over 30 lakh paid monthly subscriptions and more than 90 lakh monthly active users.
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