Moody’s Investors Service said it has revised its outlook for the global steel sector to stable on the back of a recovery in demand worldwide. The agency had earlier cut the outlook for the global industry to negative. Moody’s said it is changing the “steel outlook” for all regions which include the US, Europe, Russia, Brazil and Asia to stable.
The combined fiscal deficit of states and the centre during the current year may go up to 14% against the mandated level of 6%, former Reserve Bank Governor C Rangarajan said.
India’s total wind-solar hybrid capacity is expected to reach 11.7 gigawatt (GW) by 2023, according to a recent report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research.
Continued focus on reform measures ushered in by the government will trigger a faster recovery of the economy with the industry confident of a bounce back sooner than expected, provided there is no second wave of pandemic, CII president Uday Kotak said.
Highways and infrastructure can spur the country’s economic growth, Union Minister VK Singh said, adding good quality road network leads to ease of doing business, goods transportation and economic growth.
India is planning to replace retiring coal-fired power plants with renewable generating capacity in a bid to cut the nation’s carbon footprint, power minister R. K. Singh said.