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Industry > Industry monitor > Logistics CWC told to double storage capacity, achieve Rs10,000-cr turnover 07 April 2021 The government proposes a modernisation-cum-expansion programme of the Central Warehousing Corporation (CWC) to double its current storage capacity by the end of 2023 and achieve a turnover of Rs10,000 crore by FY 2024-25. CWC should build modern silos so that 100 per cent stock of food grains could be stored for longer period, union minister of food and public distribution and consumer affairs, railways and commerce and industry Piyush Goyal has said. CWC has been asked to ...

Finance > Banks & institutions > Banks general 07 April 2021 India on Tuesday hosted a virtual meeting of BRICS finance ministers and central bank governors. The meeting was jointly chaired by union minister for finance and corporate affairs, Nirmala Sitharaman and governor of the Reserve Bank of India, Shaktikanta Das.  Participants included Finance Ministers and Central Bank Governors of the BRICS countries. As 2021 BRICS Chair, India’s approach is focused on strengthening intra-BRICS cooperation based on continuity, consolidation and consensus. This was the first meeting of the BRICS fi...

Firms/companies > M > Microsoft Microsoft signs $22 billion deal to supply high-tech headsets to US Army 05 April 2021 Microsoft Corp on Wednesday said it has won a nearly $22 billion deal to supply the US Army augmented reality headsets based on its HoloLens product. Under the contract, worth $21.88 billion over a 10-year period, Microsoft will supply the US Army tens of thousands of hi-tech goggles or augmented reality headsets, which is backed by Azure cloud computing services.  In a separate email to Janes, the Army confirmed the contract award value and said the deal has a base period o...

05 April 2021 Indian Railways recorded the highest ever route electrification in a year with 6,015 route kilometres electrified in the 2020-21 financial year, also showing a 37 per cent jump year-on-year. With cumulative electrification of 45,881 RKM, the Railways has achieved 71 per cent overall electrification by 31 March 2021. Nearly 34 per cent of total rail electrification has been completed in the last three years alone. Despite the restrictions related to Covid pandemic, Railways has surpassed the previous record of 5,276 RKM achieved in 2018-19. With this, Indian Railways is also beco...

Economy > Government policies 08 April 2021 Union ministry of AYUSH and the Department of Animal Husbandry on Wednesday signed a memorandum of understanding (MoU) for research on new formulations in quality drugs for veterinary applications. The National Medicinal Plants Board (NMPB), under the ministry of AYUSH signed the MoU with the Department of Animal Husbandry and Dairying for research on new herbs-based formulations in quality drugs for veterinary applications.  The initiative involves capacity building in related areas through training, exploring marketing possibilities for herbal ve...