India’s economy is likely to have returned to growth in the December quarter due to the easing of restrictions on movement after the first wave of the coronavirus epidemic peaked, a Reuters poll predicted.
India’s GDP may turn positive at 1.3% in the third quarter of 2020-21, having witnessed contraction in the previous two quarters due to the coronavirus pandemic, as the number of cases is falling and public spending has started rising, according to a report.
According to the Railway Ministry, doubling of rail track from Gubbi to Nittur is a part of a larger vision to double the Arsikere-Tumukuru railway line on the Bengaluru-Hubballi line. Work on the larger project between Londa-Miraj 186 km long project will be completed in the next two years. Besides, various other railway projects were inaugurated by Railway Minister Piyush Goyal to improve the facilities and ensure a good experience for all railway passengers.
The government proposes to allow Coal India Ltd to export surplus coal for the first time since its inception while clubbing all spot auctions held by the state-owned miner for various consumers for trading on one exchange.
Prime Minister Narendra Modi said the government aims to produce 40 gigawatt (GW) of solar power in the next one-and-a-half years through rooftop solar projects.
He added that renewable energy capacity enhanced two-and-a-half times in the past six years, while solar energy capacity increased by 15 times.
Global forecasting firm Oxford Economics revised India’s economic growth projection for 2021 to 10.2% from the earlier 8.8%, citing receding COVID-19 risks and the shift in the monetary policy outlook. It further said the Budget 2021-22 will create positive externalities for the private sector, and forecast slower fiscal consolidation in FY22 than the government projections.