In response to the ongoing heavy rains and associated natural disasters across the country, the Ministry of Finance’s Department of Expenditure has promptly released an amount of Rs. 7,532 crore to 22 State Governments for their respective State Disaster Response Funds (SDRF). This swift allocation comes as a measure to provide immediate assistance to the affected…
In response to the significant surge in tomato prices over the past month, the Department of Consumer Affairs has issued a directive to the National Agricultural Cooperative Marketing Federation (NAFED) and the National Cooperative Consumers Federation (NCCF). They have been instructed to promptly procure tomatoes from Mandis in Andhra Pradesh, Karnataka, and Maharashtra. The acquired…
REC Limited has approved a loan of ₹4,785 crore for the development of a greenfield refinery cum petrochemical complex in Barmer district, Rajasthan. The loan is part of a consortium arrangement amounting to ₹48,625 crore, with REC Limited’s contribution set at ₹4,785 crores. The proposed project aims to establish a state-of-the-art refinery cum complex with…
Wave City, the pioneering Hi-tech City in North India, has announced a substantial investment of approximately Rs 10 crore in AI technology. The objective is to enhance the amenities and security features provided to its residents. This investment is expected to establish a new standard in the real estate industry, offering homebuyers futuristic amenities and…
Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) enterprise under the administrative control of the Ministry of New and Renewable Energy, Government of India, has established a state-of-the-art Paperless Business Centre at the NBCC Office Complex in East Kidwai Nagar, New Delhi. Equipped with futuristic technology, the new office eliminates paper…
NHPC Limited, the largest hydropower development organization in India, has entered into a Memorandum of Understanding (MoU) with GRIDCO Odisha, the Government of Odisha’s utility company, for the development of renewable energy and pumped storage projects in the state of Odisha. The MoU aims to establish self-identified pumped storage projects with a minimum capacity of…
REC Limited has decided to provide financial assistance of ₹3,045 crores to the Bangalore Metro Rail Corporation Limited (BMRCL). A Maharatna Central Public Sector Enterprise under the Union Ministry of Power, REC Limited is all set to grant this fund for the establishment as well as the development of Metro Lines under Phase-II of the…
The Ministry of Finance under its department of expenditure, has for the current financial year approved capital investment proposals to the tune of Rs. 56,415 crore. To be invested in 16 states, this amount has been approved under the ‘Special Assistance to States for Capital Investment 2023-24’ scheme. The scheme aims to provide a timely…
India’s overall exports in May 2023 have surged to US$ 60.29 billion, indicating a positive growth trend. Electronic goods exports witnessed a significant increase of 73.96% in May 2023 and a cumulative growth of 48.06% during April-May 2023 compared to the corresponding period last year. Agricultural exports also registered robust growth. Among these particularly the…
India’s trade deficit for April-May 2023 has improved considerably, estimated at US$ 13.28 billion compared to US$ 20.56 billion during the same period in 2022. This represents a decline of 35.41%. The merchandise trade deficit for April-May 2023 stands at US$ 37.26 billion, down by 7.95% from April-May 2022. In May 2023, India’s overall exports…
