According to CII president Sanjiv Bajaj, India’s GDP may expand 7.4-8.2% in FY23
According to Sanjiv Bajaj, the incoming president of the Confederation of Indian Industries and chairman of Bajaj Finserv, India’s FY23 gross domestic product is predicted to expand between 7.4 and 8.2% under three scenarios of world crude oil prices. Bajaj also stated during a press conference that the government needs to significantly expand its spending […]
To address the fuel crisis, environmental permissions for coal mine expansions were eased
In response to fuel shortages that have resulted in hours-long blackouts, India has eased environmental licences for coal mine expansions. According to a government notice, certain existing facilities will be able to increase production by 10% without requiring fresh impact assessments, while requirements on contacting local communities have been relaxed. The revisions follow the coal […]
For nearly a year, Indian Railways failed to meet Coal India train provisioning targets
Coal is supplied by Indian Railways. According to government data, India has been falling short of its monthly coal transportation targets for more than a year, underscoring the reasons behind India’s greatest power crisis in over six years. To meet record-high power demand, Indian utilities are rushing for coal supplies, but the failure of Indian […]
PM Modi chairs a meeting to examine the state of wheat supplies, inventories, and exports
Prime Minister Narendra Modi chaired a meeting on Thursday to review various aspects of wheat supply, stock, and exports, and directed officials to take all necessary steps to ensure quality norms and standards so that India can evolve into a reliable source of food grain and other agricultural products. The critical meeting took place just […]
Petrol crosses Rs 100 in Delhi after 80 paise hike, diesel up 70 paise
Petrol price on Tuesday crossed Rs 100 a litre mark after rates were hiked by 80 paise a litre and 70 paise in case of diesel, taking the total increase in rates in one week to Rs 4.80 per litre. Petrol in Delhi will now cost Rs 100.21 per litre as against Rs 99.41 previously […]
‘Steel prices will continue to move up as Ukraine-Russia conflict hits supply chain’
The price of steel will continue to move upwards on ”good demand” as the supply chain remains affected amid the Ukraine-Russia conflict, according to industry consultancy SteelMint. The prices in the international market have moved up by around USD 135 a tonne and are moving up since the conflict started in the last week of […]
India asks Indonesia to raise palm oil supply as prices spike: Report
India has asked Indonesia to increase palm oil shipments to the country to compensate for a loss of sunflower oil supplies from the Black Sea region due to the Ukraine crisis, several governments and industry sources in India told Reuters. India, the world’s biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports but […]
Power consumption grows 2.2% to 105.54 billion units in February
India’s power consumption growth remained subdued at 2.2 percent year-on-year in February to 105.54 billion units (BU), showing the impact of local restrictions imposed by the states due to the third wave of COVID-19. Power consumption in February 2021 was 103.25 BU, a tad lower than 103.81 BU in the same month of 2020, as per the power […]
India-UAE trade deal| First major trade pact under Modi govt set to boost jewellery, apparel exports
In what will be the first major trade deal implemented by the Modi government, India and the United Arab Emirates (UAE) will officially sign a Comprehensive Economic Partnership Agreement (CEPA) on February 18. Negotiations on the deal have been completed in record time, having been officially launched in September 2021. On Friday, Prime Minister Narendra […]
Long-awaited 5G spectrum auction expected in April-May 2022: Official
The long-awaited 5G spectrum auction is expected to be held in May this year if the Telecom Regulatory Authority of India (Trai) submits by March its recommendations on the rules regarding the sale process, according to a senior official of the telecom department. Telecom Minister Ashwini Vaishnaw earlier this month said the Trai has informed that it will submit […]