Indian Economy News

October 07, 2022

Centre releases Rs. 7,183 crore (US$ 873.83 million) as revenue deficit grant to 14 states

The Finance Ministry has released the seventh monthly instalment of the post-devolution revenue deficit (PDRD) assistance to 14 states, totalling Rs. 7,183.42 crore (US$ 873.83 million).

Mr. Goyal asks industry to follow quality standards to help build 'Brand India'

Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Mr. Piyush Goyal, urged companies to make sure their goods match international quality standards and contribute to the creation of a "Brand India".

ISRO to launch 36 OneWeb satellites onboard LVM3 later this month

The Indian Space Research Organization (ISRO) said that it will launch 36 satellites for the UK’s worldwide communications network OneWeb later this month onboard its heaviest launcher, the Launch Vehicle Mark III.

Expenditure under Centrally Sponsored Schemes up by 72.1% till FY22

The budgetary allocation for Centrally Sponsored Schemes (CSS) has grown by 90.9% during the previous six fiscal years, from Rs. 2.31 lakh crore (US$ 28.29 billion) in FY17 to Rs. 4.4 lakh crore (US$ 53.89 billion) in FY23.

ONGC Videsh to invest US$ 1 billion in offshore block held by Petrobras

ONGC Videsh is expected to invest US$ 1 billion in a Brazilian offshore block held by Petrobras.

Agritech start-up Falca raises US$ 3 million in funding for expanding business

Agritech startup Falca has secured funding totaling more than US$ 3 million from Inflection Point Ventures (IPV) for expanding business.