Coal India Ltd (CIL) said it has clocked a 17% growth in composite opencast production in July over the same month a year ago. Further, the company is expecting the production to rise post monsoon in view of the positive growth trend in the Over Burden Removal (OBR), which implies removing top soil to expose the coal seams and make them mining ready.
The index of eight core industries dropped 15% in June compared to a 22% decline in May. It had declined 37% in April. This is the fourth consecutive month of contraction in the core sector. Its cumulative growth during April to June, 2020-21 was -24.6% commerce and industry ministry said in a release.
The government’s tax revenue fell 32.6% in the April-June quarter, underscoring the damage done to the economy by the Covid-19 pandemic and the lockdown that followed. The revenue shortfall widened the fiscal deficit at the end of June to Rs 6.62 lakh crore, or 83.2% of the full-year budget estimate of Rs 7.96 lakh crore. This is the highest fiscal deficit in percentage terms for the first quarter going back to available data since FY1999.
Vital infrastructure projects of the Indian railways including high speed corridors, the dedicated freight corridors, signalling projects or projects for launching new trains will not be impacted by the Railway Board order to keep all new work sanctioned for 2020-21 fiscal in abeyance in a bid to rationalize cost in the wake of COVID-19 pandemic.