• The Indian economy is likely to see positive growth in the October-December quarter based on buoyant high frequency indicators so far, according to consultancy firm Ernst and Young (EY).
  • The GDP contraction will improve to “higher single digits” in the September quarter, and the economy will be back to positive growth by the March quarter, Nilesh Shah said.
  • Care Ratings said it expects GDP to contract 9.9% in the second quarter, and for the full year to March by 8.2%. From a gross value added point of view, degrowth will be 9.4% in the September quarter, it added.
  • Coal India (CIL) said it would set up 14 rooftop and ground-mounted solar power projects of 3,000 megawatt (MW) capacity by financial year 2023-24 at an investment of about Rs 5,650 crores.
  • India’s macroeconomic situation is improving fast and the country’s GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said.
  • Prime Minister Narendra Modi said that the country was moving briskly forward in its efforts to “reduce its carbon footprint by 30-35%” and exuded confidence that the target of renewable energy production would be achieved “before time”.