Panel on manufacturing takes measures to boost the sector
A high-level panel on manufacturing has cleared the Rs.7,555-crore project to build 90-seater aircraft.
It also decided to increase steel production capacity to 300 million tones through Special Purpose Vehicles of Central Public Sector Enterprises with states. It was also decided to enhance export of textiles by 30% in 2013. In fiscal 2012-13, textiles exports stood at about $34 billion. The panel focused on giving a fillip to creating domestic manufacturing capabilities in advanced materials, alloys and composites.
India’s 90-seater aircraft project (Joint effort of: HAL + CSIR + DRDO):
The project to build indigenous 90-seater aircraft has been on anvil for years. The design and development of the aircraft is estimated to cost Rs.4,355 crore, and series production would entail a further Rs.3,200 crore. The aircraft is to be built through a collaborative venture of state-owned Hindustan Aeronautics Limited (HAL), National Aerospace Laboratories (NAL), the Council for Scientific and Industrial Research (CSIR) and DRDO.
Month: Current Affairs - July, 2013