Business, Economy & Banking Current Affairs - 2020

Business, Economy and Banking in Current Affairs 2019 with latest news and current affairs in Agriculture, Industry, Banking, Capital Markets, Import and Export and Government schemes in commercial sector.

Category Wise PDF Compilations available at This Link

BPCL’s LPG bottling plant inaugurated in Odisha

The Bharat Petroleum Corporation Limited (BPCL) has set up the new state-of-the-art LPG Bottling Plant at Village Barkani in Bolangir district of Odisha. The LPG bottling plant with an annual capacity of filling 42 lakh cylinders has been developed by state-run BPCL.

About BPCL’s LPG Bottling Plant

The LPG bottling plant has been established at an expenditure of Rs. 103 crore rupees and has capacity of manufacturing 42 lakh cylinders annually. It will benefit residents of 14 western Odisha districts.

LPG consumers in Odisha have grown up from 20 lakh 22 thousand in 2014 to 88 lakh 1 thousand in 2019, which is an increase of customer base by 335.71% during the five year period. BPCL which has 21 lakh, 59 thousand customers, in Odisha who consume about 78 lakh cylinders in a year, estimated that this consumption is expected to increase to 105 lakh cylinders by end of 2020.

About Bharat Petroleum Corporation Limited (BPCL)

It is a Maharatna oil and gas company, that function under the control of Government of India. The PSU (public sector undertaking) was founded in 1976 and is headquartered in Mumbai, Maharashtra. BPCL operates India’s two large refineries located in Kochi and Mumbai. It India’s 2nd largest downstream oil company and is ranked 275th on Fortune list of world’s biggest corporations as of 2019.

Way Ahead

Odisha will soon have seven LPG bottling plants with two more plants coming up at Bhubaneswar and Rayagada. While current bottling capacity of existing 4 plants is 2 crore 80 lakh cylinders annually, the bottling capacity will increase to 4 crore 6 lakh cylinders annually once all 7 plants start production.

Get these updates on Current Affairs Today Android App

Foundation laid for India’s first Transit-Oriented Development Project

Union Home Minister Amit Shah laid the foundation stone for country’s first transit-oriented development (TOD) project in New Delhi. Under the TOD project a state-of-the-art infrastructure zone, including national capital’s tallest tower, will be built in east Delhi.

About Transit-Oriented Development (TOD) Project

The project- ‘East Delhi Hub’ at Karkardooma (in New Delhi), spreading over 30 ha, will come up in next 3.5 years. The hub will be developed around existing two Delhi Metro stations at Karkardooma (on Blue and Pink Lines). Besides a 48-storey signature tower that will come up in first phase of project, the hub will also include a massive open landscaped green area.

This project will be country’s first TOD project. It is being implemented by Union Ministry of Housing an Urban Affairs (MHUA).

Project’s first phase will be implemented by National Buildings Construction Corporation (NBCC). NBCC has been chosen by DDA which owns the land. The project will have mixed-land use, 70% residential, 20% commercial and 10% for civic amenities, besides housing facilities for people belonging to economically weaker section (EWS). About 4,526 residential units would be built, and 1,108 in first phase, besides 2,088 units for EWS (522 in phase-I).

The East Delhi Hub project was approved by Delhi Development Authority (DDA) in December 2014, with an aim to promote use of public transport over private vehicles. This implies that the project is taking off after much delay.

Features: The hub has been designed with complete sustainability model. One of the most unique part of this TOD project is that- inside it there will be a central massive green lung of about 10 acres, and it will also have vertical gardens and water-harvesting facilities. This is significant as east Delhi does not have such a huge recreational space. There will be a huge plaza near metro stations and skywalks to take people directly to destinations without stepping onto streets. The 48-storey signature tower (about 161 m) will become Delhi’s tallest tower. There will also be schools, dispensaries, gymnasia, cultural centres as well as library inside the hub.

Get these updates on Current Affairs Today Android App