India’s fiscal deficit touched 128.5% of the whole-year Budget target in January-end, the Controller General of Accounts (CGA) said. The deficit during the same period during 2018-19 was 121.5% of that year’s Revised Budget Estimate (RE). The government had targeted to restrict the fiscal deficit at ₹7,66,846 crore during the year ending March 31, 2020.
Container Corporation of India Ltd (Concor) will be directed to buy land leased from Indian Railways to build close to half of its 86 inland container depots (ICDs) as the government looks to resolve a key issue that threatens to derail its plans to privatise the rail hauler of boxes. According to rough estimates, Concor will have to pay as much as ₹8,000 crore to buy the railway land.
The implementation of decentralised solar network across India involving solarisation of all substations feeding the agriculture power demand will require setting up of 400 Gigawatt of solar capacity, according to Mr Saurabh Kumar, MD, Energy Efficiency Services Limited (EESL). The Company will invest Rs 25,000 crore on the smart meter programme, and Rs 30,000 crore on the decentralised solar project over the next five years, said Kumar
Eastern Coalfields Ltd said the company aims to ramp up production over the next five years to be in a position to export the dry fuel. The Coal India subsidiary will also look at new mines, keeping environmental concerns in mind, ECL CMD, Mr Prem Sagar Mishra said.
Coal India Ltd is likely to register a 13% year-on-year rise in production in February to 66 million tonnes. The world’s largest miner had produced 58.05 million tonnes in the corresponding month a year ago. Cumulative production for the April-February period is expected to be 517.5 million tonnes.
The output of eight core industries grew 2.2% in January compared with the same month last year. The higher output came on the back of more coal, refinery output and electricity production during the period under review, according to data released by the Ministry of Commerce.
According to CARE Ratings, electricity production witnessed a trend reversal and grew by 2.8% against the sustained contraction seen in the previous five months. It was also higher than the 0.8% growth in January 2019.