High frequency data in September showed that the recovery was gaining pace. The Nomura India Business Resumption Index (NIBRI) came in at 82.3 for the week ending September 20 from 81.2 a week earlier, recording the second consecutive week of a fresh post-lockdown high.
Hit by coronavirus-related disruptions, both thermal and coking coal imports at India’s 12 major ports dipped 27.93% to 45.77 million tonnes (MT) in April-August 2020 over the same period a year ago, according to IPA. Thermal coal imports dropped 25.42% to 28.93 MT and coking coal shipments fell 31.87% to 16.84 MT during this period.
Railways has decided to ensure green mode of transportation and maintain zero carbon emission by switching over to solar energy at its all vital establishments and offices under the ‘save energy’ mission. Railways has also taken various initiatives to ensure uninterrupted power supply with the help of solar energy plants in all its five divisions.
Coal India Ltd may witness de-growth in production during the current fiscal as its output is likely to fall below 600 million tonnes amid subdued demand, analysts said. The miner could end the current year with the production of around 580 million tonnes of coal as against its revised target of 650-660 million tonnes, they said.
South Eastern Coalfields Ltd, the coal-producing subsidiary unit of the Coal India Ltd (CIL) has surged ahead with its massive mining technology up-gradation plans as it equipped itself for enhanced produced ahead of the anticipated increase in demand.
Economists and global institutions like the Asian Development Bank have recently cut India’s growth projections from already historic lows as the virus continues to spread. Goldman Sachs Group Inc. now estimates a 14.8% contraction in gross domestic product for the year through March 2021, while the ADB is forecasting -9%. The Organisation for Economic Co-operation and Development sees the economy shrinking by 10.2%.