Electronic Components Manufacturing
- The Central Government has approved 17 new projects with an investment of Rs. 7.172 crore under the Electronic Components Manufacturing Scheme (ECMS), which was introduced with an aim to increase the production of electronic components in the country.
- Through these 17 projects. The total value of production of key components like camera module connector gun, multi-layer PCB (Ach Sub-Board) oscillators, power enclosures etc. is expected to be Rs. 65.111 crore.
- IPL Circuit India, Agus Consumer Products Uno Minda. Axs Safety Components India, Jetfab India, TE Connectivity India, Meena Electrotech are the major players involved in these projects to be implemented in the states.
- India is poised to become a major electronics manufacturing hub.
Import agreement
- India’s public sector oil companies have successfully concluded a one-year agreement to import liquefied petroleum gas (LPG) from the US Gulf Coast, the Minister for Petroleum and Natural Gas said.
- India will import about 2.2 million tonnes per annum from the US Gulf Coast for the contract year 2026. (MTBA) will get LPG, he said
- This marks the “first structured deal of US LPG for the Indian market”.
- The move comes against the backdrop of India facing 50% duties on exports to the US and several Indian ministers saying that India wants to import more energy from the US.
16th Finance Commission report submitted to the President
- The report of the 16th Finance Commission, which is responsible for formulating tax sharing policy between the Centre and states, has been submitted to the President.
- The report will define new criteria for how much funds and subsidies should be allocated to states from the total tax revenue of the Centre.
- The report will come into effect for the next 5 years from 2026-27.
- Chairman of the 16th Finance Commission, Ravind Panagariya and other members, met the President at his residence and submitted the report.
- Earlier, the N.K. Singh-led 15th Finance Commission. It had recommended sharing 41 percent of the total tax revenue of the Central Government to the states for the 5-year period from 2021-22 to 2025-26.
- 16th Finance Commission. It was constituted on December 31, 2023.
