Govt inks $1-bn loan pact with NDB to boost rural employment, infrastructure
Economic activity slowed down post lockdowns to contain the spread of virus, resulting in loss of employment and income of workers especially those employed in the informal sector, including rural areas. Updated: December 17, 2020 8:18:44 am
The loan has a tenor of 30 years, including a 5-year grace period.
The government and the New Development Bank (NDB) on Wednesday signed a loan agreement worth $1 billion to help India’s economic recovery from Covid-19 by supporting spending on rural infrastructure related to natural resource management (NRM) and rural employment generation under MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme). The loan has a tenor of 30 years, including a 5-year grace period.
S&P raises FY21 growth forecast to 7.7% contraction
For FY22, S&P projected growth to rebound to 10 per cent. Its revision in growth forecast for the current fiscal reflects a faster-than-expected recovery in the September quarter. December 16, 2020 3:32:04 am
India’s gross domestic product (GDP) fell 7.5 per cent in the July-September quarter, against a contraction of 23.9 per cent in the April-June quarter.
S&P Global Ratings on Tuesday raised India’s growth projection for the current financial year to (-)7.7 per cent from (-)9 per cent estimated earlier on rising demand and falling Covid cases.
For FY22, S&P projected growth to rebound to 10 per cent. Its revision in growth forecast for the current fiscal reflects a faster-than-expected recovery in the September quarter.
Exports slip for second straight month in November
Exports last month were at $23.52 billion, as against $25.77 billion in the same month in 2019, data from the Commerce and Industry Ministry showed. December 16, 2020 3:36:10 am
The drop was mainly on the back of decline in shipments of products like petroleum (-59.73 per cent), leather goods (-29.80 per cent), man made fabrics (-11.06 per cent), engineering goods (-8.12 per cent) and organic and inorganic chemicals (8.06 per cent).
Merchandise exports fell 8.74 per cent in November, continuing a trend of negative growth after a short positive growth spurt in September. Exports last month were at $23.52 billion, as against $25.77 billion in the same month in 2019, data from the Commerce and Industry Ministry showed.
Health data management policy gets nod
The health data management policy under the scheme is expected to act as a “guidance document” across the National Digital Health Ecosystem (NDHE), setting out the minimum standard for data privacy protection. December 15, 2020 3:00:59 am
Bansal said, The district administration didn t do enough to augment the facilities despite seeing the second Covid wave coming. Our agitation is to highlight both administrative apathy and patients suffering.
The health Ministry Monday approved a policy under the National Digital Health Mission (NDHM) to protect and manage personal data of patients using the digital services of the scheme.
The health data management policy under the scheme is expected to act as a “guidance document” across the National Digital Health Ecosystem (NDHE), setting out the minimum standard for data privacy protection.
Ola to invest Rs 2,400 crore to set up e-scooter factory in Tamil Nadu
Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility, with an initial annual capacity of 2 million units, it said in a statement. December 15, 2020 3:21:16 am
Ola said the plant will help cut import dependence in a key sector like electric vehicles, boost manufacturing, create jobs and improve technical expertise in India.
Ride-hailing platform Ola said Monday it has inked an agreement with the Tamil Nadu government to invest Rs 2,400 crore for setting up its first electric scooter factory at Hosur in the state. Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility, with an initial annual capacity of 2 million units, it said in a statement.