ECONOMY - 2019 July

July 31

E-commerce giant Flipkart launched Samarth, an initiative to bring Indian artisans, weavers, and makers of handicrafts to its platform. It was launched by Anurag Thakur, Minister of State, Finance and Corporate Affairs, along with Kalyan Krishnamurthy, CEO, Flipkart Group.

July 29

Purified Terephthalic Acid (PTA) from South Korea and Thailand, which is major starting material polyester production that has a diverse range of uses like PET bottles and clothing and containers. The Ministry of Finance has imposed definitive anti-dumping duty on all imports of Purified Terephthalic Acid (PTA). PTA is primary raw material in the manufacture of polyester chips, which in turn are used in a number of applications in textile, packaging, furnishings, consumer goods, resins and coatings. The latest action comes in less than a month after the Designated Authority came up with its final findings on the PTA.

The 7th Economic Census of India began from Tripura. The census is conducted by the Ministry of Statistics and Programme Implementation. Enumerators started visiting door to door and business establishments across Tripura to collect data on various economic variables. A dedicated Mobile App is being used for the first time by enumerators. The State Economics and Statistics Department said that data will be collected on various economic variables like nature of economic activities, size of workforce and type of establishments in agriculture and non-agriculture sectors.

July 26

Minister of Agriculture and Farmers Welfare, Narendra Singh Tomar told that, the average monthly income per agricultural household from all sources is 6,426. This is based on Situation Assessment Survey of Agricultural Households conducted by National Sample Survey Office (NSSO). NSSO is the nodal agency for conducting surveys and collecting data. During its 70th round (January 2013-December 2013) survey, average monthly income per agricultural household from all sources is estimated to be Rs. 6,426.

July 24

The Federal Trade Commission (FTC) imposed a record 5 billion US Dollar fine on Facebook for violation of users' privacy in the Cambridge Analytica data scandal involving 87 million users. US regulators initiated the investigation after a scandal involving former British consulting firm Cambridge Analytica, which was accused of illegally accessing data of more than 87 million Facebook users without their prior knowledge. The penalty was the largest ever imposed on any company for violating consumers' privacy and one of the largest penalties ever assessed by the US government for any violation.

July 2

Minister of State for Fisheries, Animal Husbandry and Dairying, Sanjeev Balyan declared that the National Action Plan for Dairy Development envisages milk production target of 254.55 million tonnes by 2022.

July 1

The First Ever India International Cooperatives Trade Fair (IICTF) is scheduled from 11th till 13th October, 2019 at Pragati Maidan in New Delhi. It is a unique initiative for taking farmers, artisans & other members of cooperatives directly to global trade arena. Trade Fair is aimed at promoting cooperative to cooperative trade within India and abroad leading to enhanced rural and farm prosperity.