BUSINESS
PLI scheme may generate 60 lakh jobs in next 5 years: FM
Presenting the Union Budget 2022-23, her fourth budget to date, she said that the PLI schemes have received tremendous response. The PLI scheme has the potential for additional production of Rs 30 lakh crore worth products during the next five years, she added. The PLI scheme covers key sectors like pharmaceuticals, medical devices, large-scale electronics manufacturing, food products, solar EV modules, automobiles/auto components, ACC battery, textile products etc.
Over 2 cr houses sanctioned, 1.69 cr completed under PMAY-G till Jan
Under the scheme, landless beneficiaries are accorded highest priority in allotment of houses. Under the Pradhan Mantri Gram Sadak Yojana (PMGSY), a total of 1,82,506 roads measuring 7,82,844 km and 9,456 long span bridges (LSBs) have been sanctioned and 1,66,798 roads measuring 6,84,994 km and 6,404 LSBs have been completed till January 18, 2022, the SUrvey noted.
MGNREGS employment peaked during lockdown in 2020: Economic Survey
The demand for work under MGNREGS is an indicator of rural labour markets. An analysis of the latest data on demand for work under MGNREGS suggests that the employment peaked during the nationwide lockdown in 2020. However, the demand for MGNREGS work stabilised after the second COVID wave as per the Economic Survey. The survey said that the aggregate MGNREGS employment is still higher than the pre-pandemic level. The aggregate demand for MGNREGS work peaked in June 2020, and has thereafter stabilised, it said.
Sony acquires gaming legend Bungie for $3.6 bn
The news came shortly after Microsoft's announcement to acquire Call of Duty developer Activision Blizzard for $68.7 billion. Bungie will "continue to independently publish and creatively develop our games," its CEO Pete Parsons said in a statement late on Monday. Halo was one of Microsoft Xbox's flagship franchises, but after a few sequels, Bungie was spun out into an independent company.
Adani Wilmar's IPO issue subscribed over 17 times on final day
The company is known for its wide range of offerings comprising soya bean oil, sunflower oil, mustard oil, rice bran oil, wheat flour, rice, pulses, sugar among others. The company has 22 plants in India, which are strategically located across 10 states, comprising 10 crushing units and 19 refineries. The issue size was Rs 3,600 crore with a price band of Rs 218-230 per share.
India's Dec core sector growth rises sequentially, YoY
The growth rate of the eight major industries in December 2021, on a sequential basis, rose to 3.8 per cent from 3.4 per cent in November 2021. Similarly, the Index of Eight Core Industries' (ICI) index reading rose on a year-on-year basis. The ICI reading during December 2020 stood at 0.4 per cent. The ICI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP) and comprises coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
Air India divestment to boost privatisation drive: Economic Survey
Center on Thursday handed over the management control of national carrier Air India to a subsidiary of Tata Sons. The recently-introduced New Public Sector Enterprise Policy and Asset Monetisation Strategy by the Centre reaffirm its commitment towards privatization and strategic disinvestment of public sector enterprises, the Survey document said.
FDI under 7 years of Modi govt nearly 58 per cent of last 21 years
The Survey has pointed out that over the last seven financial years (2014-21), India received FDI inflows worth $440.27 billion, which is nearly 58 per cent of the FDI received by the country in the 21 years prior to that ($763.83 billion). The Modi government assumed office in 2014. The Survey said that the measures taken by the government to put in place an enabling investor-friendly FDI policy has resulted in increased FDI inflows, setting new records.
January 2022: GST collection rises 15% YoY to over Rs 1.38 lakh crore
"The revenues for the month of January 2022 are 15 per cent higher than the GST revenues in the same month last year and 25 per cent higher than the GST revenues in January 2020," a Finance Ministry statement said. "During the month, revenues from import of goods was 26 per cent higher and the revenues from domestic transaction (including import of services) are 12 per cent higher than the revenues from these sources during the same month last year."
India records $63.1 bn balance of payments surplus in H1FY22: Economic Survey
According to the Survey tabled in the Parliament on Monday, the robust capital flows were sufficient to finance the modest current account deficit. It said that inflows augmented foreign exchange reserves crossing the milestone of $600 billion. India's forex reserve as of December 31, 2021 stood at $633.6 billion. "As of end November 2021, India was the fourth largest forex reserves holder in the world after China, Japan, and Switzerland.
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