The Department of Industrial Policy and Promotion is working on e-commerce as well as new industrial policies, and both are expected to be released by the end of this fiscal, a top official said.
This proposed new industrial policy will be the third industrial policy after the first in 1956 and the second in 1991. It is aimed at promoting emerging sectors, reducing regulatory hurdles and making India a manufacturing hub.
India is expected to overtake Germany to become fourth-largest economy in 2026 and Japan to become third largest in 2034, according a recent report by the UK-based Centre for Economics and Business Research (CEBR). It further said India is also set to reach a gross domestic product (GDP) of USD 5 trillion by 2026, 2 years later than the government’s target.
The trend of divergence between grinding and clinker capacity utilisation will only broaden, as the industry plans to add ~ 68 mtpa grinding capacity by FY23e but is backing it only with ~30 mtpa new clinker capacity.
Even as railways’ receipts from transportation of goods appear to be falling short of the FY20 target by a steep 20% due to the economic slowdown and related decline in coal, cement and food grains loading, Railway Board chairman VK Yadav hinted at a plan to cut freight rates to woo customers and simultaneously hike passenger fares, which continue to be heavily subsidised.
The supply of coal by Coal India to the power sector registered a decline of 8.9% to 291.4 million tonnes in April-November this year against 320 million tonnes (MT) of coal in April-November period of the previous fiscal, according to latest government data.
The fuel supply by Coal India (CIL) during the month of November also registered a decline of 9.9% to 38.8 MT, against 43.1 MT in the corresponding month of previous fiscal, the data showed.