Latest Indian Economy-one-liners

Latest Updated on:    21-02-2021

Swedish Home Furniture Company, IKEA: is all set to open its shopping mall in India, will invest 5500 Crores Rs.

                                                                                                                 

 

Highlights of Budget 2021-22:

                                                                                                             

 

Amazon Plant in India: Amazon is all set to build its 1st Manufactacting line in India making 'Fire TV sticks' at its Chennai Plant.

                                                                                                              

Thus, giving boost to India's spirit of "Make-In-India".

 

HAL & Rolls-Royace went in partner:  Hindustan Aeronautics Limited (HAL) and Rolls-Royce have agreed to expand their partnership in India for collaboration in two significant areas – expanding the supply chain for both civil and defence aerospace and establishing an authorised maintenance centre for Adour Mk871 engines to support Rolls-Royce’s global customers.

 

PayPal(an American Payment major): has decided to stop its working in India.

                                                                                                

 

Budget 2021-22 envisages of: setting up 7 Mega Textile Park.

 

FDI limit in Insurance Sector raised: from 49 % to 74 %.

 

Toyota of Japan is the largest selling vehicle company: Thus, replacing Volkswagen of Germany.

 

TCS is the 3rd most valued IT services brand globally:  Tata Consultancy Services NSE -0.96 % Ltd. (TCS) is now the world's third most-valued IT services brand, only behind industry heavyweights Accenture Plc and International Business Machines Corp. (IBM), according to a report released. Four Indian IT services companies—TCS(3), Infosys NSE -0.57 % Ltd. (4), HCL Technologies NSE -1.20 % Ltd. (7) and Wipro NSE -1.01 % Ltd. (9)—have secured spots in the Top-10 global rankings.

 

Reliance Jio: is the 5th strongest brand in the world, thus, beating dark horse brands  Apple, Disney, Pepsi! Becomes 5th Strongest Brand In The World. 

 

IMF released Economic Outlook Report 2021: saying, Global Growth is projected to rise from an estimated 2.9% in 2019 to 3.3% in 2020  & 3.4% in 2021

                                                                                             

 

►"Union Ministry of Road Transport": to levy a "Green Tax" on Old Vehicles. According to the proposal, transport vehicles older than eight years could be charged Green Tax at the time of renewal of fitness certificate, at the rate of 10 to 25 per cent of road tax, while personal vehicles will be charged Green Tax at the time of renewal of registration certification after 15 years.

 

►"New Indian currency notes & related pictures":

                                                                                              

 

Bangalore: became the fastest growing tech-hub of the world during 2016--2020.

Read more, at: https://trak.in/tags/business/2021/01/16/bengaluru-beats-london-becomes-worlds-fastest-growing-tech-hub-mumbai-at-6/

 

Kerala turned the 8th state to adopt: the reforms decided by the Union Ministry of Finance for "Ease of doing business".

 

India is the 4th Break out Economy:  Rapidly digitalising India was ranked highly among "Break Out Economies" in the third edition of the Digital Evolution Scorecard developed by Tufts University's Fletcher School in partnership with Mastercard. "Break Out Economies" are those that are digitalising very quickly and yet have a lot of room to grow before matching those in the developed economies, such as those in Europe and in more developed Asian countries like Singapore, South Korea, and Hong Kong.

 

Electric Vehicle Leader "Tesla": has decided to set up its Head-Quarter in Bangalore.

 

Union Budget 2021-22: is to be presented on 1 February 2021, will be Paperless( 1st Time in India).

 

Legal Entity Identifier: is a 20 digit number, Launched by RBI for this purpose.

 

The prevailing Indian currency Notes & related emblems: 

                                                                                                        

 

Bajaj Auto : has become the world's first two-wheeler company to cross a market capitalisation of Rs. 1 lakh crore. On January 1, 2021, the company's share price closed at Rs. 3,479 on the National Stock Exchange, making its market capitalisation Rs. 1,00,670.76 crore at that price.

                                                                                                                      

 

India at Luring the Global investors:

                                                                                                                

RBI to start publishing half yearly 'Digital Payment Index': At a base of 100 for March 2018, the RBI has measured that the index rose to 153.47 and 207.84 in March 2019 and 2020, respectively. Going forward, the index shall be published on RBI's website on a semi-annual basis from March 2021 with a lag of four months,

 

SEBI imposes a Fine on: 'Reliance Industries' , amount of 40 Crores Rs. (25 Crore on the 'Reliance Industries' & 15 crores on it's chairman Mukesh Ambani) for alleged rigging of share Trading.

 
India is well ready to export Meringue Powder: Its production for Export is startedMade mostly of dried egg whites, meringue powder a baking substitute that you can use instead of raw fresh egg whites.
 

Latest Updated on: Tuesday, 29-12-2020  Here, it is all about year 2020 Economy.

British Center for Economy & business Research: predicts that Indian Economy will be 5th largest Economy by 2025 & 3rd by 2030.

 

FDI in D2H: The Union Cabinet approved revised guidelines for Direct-to-Home (DTH) broadcasting services, allowing 100 per cent foreign direct investment (FDI) as well as increasing the licence period    to 20 years.

 

"Ru-Pay Select" is the name of 'Contact-less' credit card launched by SBI.

 

"Infinite India": is the name of Online Platform launched by ICICI.

 

RBI to set up an Automated Banknote Processing Center: at Jaipur.

 

RBI to start its RTGS: transfer of funds through Real-Time Gross Settlement (RTGS) will be made available round-the-clock. 

 

  Read more at https://www.livemint.com/money/personal-finance/fund-transfer-rtgs-system-to-be-made-24x7-in-next-few-days-says-rbi-governor-11607058594329.html

Fortune 500 India list 2020: Reliance Industries Limited (RIL) has been ranked Number One in the 2020 Fortune India 500 list of Indias largest companies.

 

Indian Rupay Card Phase-II: started in Bhutan.  RBI: got 1 million follower on Twitter,  Read more at https://yourstory.com/2020/11/rbi-twitter-handle-world-record-one-million-followers

 

Hero Motocorps Joins Harley Davidson:  US bike maker Harley Davidson (HD) formalised its tie-up with Hero Motocorp under which the latter will sell and service the former's motorcycles in India. Hero Motocorp will also set up a brand exclusive chain of dealerships across the country that will also sell HD's spare parts, accessories, general merchandise as well as apparel.             

Base year for CPI for Industrial Worker Changed:  The government plans to change the base year for the Consumer Price Index for Industrial Workers (CPI-IW) to 2016 from 2001. This could mean further increase in Dearness Allowance (DA)/Dearness Relief (DR), when revised from next year. Yearly inflation as represented by All India CPI-IW is key for calculating DA and DR.

The policy of Domestically Manufactured Iron & Steel Products: led to the reduction of  20,000 crore Rs.  in  Steel Import.

Vodafone & Idea renamed their joint venture as “VI”.

 

EASE 2.0 reforms:  are related to the banking sector.

 

Apple Inc.: Apple tops Saudi Aramco as the most valuable publicly listed co, 

Future Brand Index 2020:   Apple tops the list while Indian Company Reliance Industries secured the 2nd place. 

Indian Economy turned 3rd largest Economy in 2017 after China(16.4%%) & the USA(16.3%) with 6.7% with respect to Purchasing Power Parity(PPP).  

Indian forex reserve touch highest point:

The Forex Reserves of India: are increasing and are to hit 500 billion USD soon. In May 2020, the Indian Forex Reserves touched an all-time high of 493 billion dollars.

Foreign Exchange Reserve: The Foreign Exchange Reserves are the reserve assets that are held by the central bank in foreign currencies. It is used to back the liabilities faced by a currency due to the influence of monetary policy.

Why are the Forex Reserves rising: The Forex Reserves of India are increasing mainly due to a fall in crude oil prices. Also, the rise is because of the increase in investment in Foreign Direct Investments (FDI) and Foreign Portfolio Investors (FPI).

Significance The Forex Reserves are held by the GoI : to maintain liquidity in the country. It also helps to absorb shocks where access to borrowing is curtailed. The Forex Reserves are an important component of the Balance of Payment and also an essential element to analyse the external position of the economy.

Components of Foreign Reserves of India: The Foreign Exchange Reserve of India comprises of the following SDR (Special Drawing Rights) in International Monetary Fund. The SDR is the reserve Currency with the IMF.