The government has taken initiatives under the Atmanirbhar Abhiyan to spur domestic production of steel.
The average growth rate of industrial production of eight core industries started showing signs of recovery after a steep decline in April 2020 but still clocked a decline of 1.3 per cent in December, compared with a contraction of 1.4 per cent in November. Only the coal and electricity sectors clocked positive growth in December 2020, government data shows. The eight core Industries includes coal, crude oil, natural gas, petroleum refinery, fertilisers, steel, cement and electricity.
The Covid-19 pandemic adversely impacted some of the major economies of the world such as the US, European Union, the UK and Japan. Similarly in India, several sectors were affected due to the nation-wide lockdown to help curb the spread of Covid-19. However, after the pandemic-imposed lockdown was relaxed, improvement has been seen in several sectors of the economy.
Centralised investment clearance cell by April 15
December 21, 2020
Investors will get all information in one digital platform - istock.com/MarcoMarchi×
The Centralised ‘Investment Clearance Cell’, under the proposed single window system, aimed at facilitating businesses through a one-stop digital platform, is planned to be launched with relevant Ministries and Departments and select States by April 15, 2021, a senior government official has said.
“Care is being taken to ensure that the national portal will integrate the existing clearance systems of the various Central Ministries/Departments and State governments without disruption to their existing IT portals,” the official told
BusinessLine.
The Investment Clearance Cell, which is an integral part of the single window system being worked out by the Commerce and Industry Ministry, was announced by Finance Minister in this year’s Union Budget.