Coal India Ltd (CIL) said it has registered a 77% growth in e-auction sales, under five windows, at 68.3 million tonnes (MT) during the April-November period of the ongoing fiscal. The upsurge in the booked or allocated quantity of coal was close to 30 MT, in absolute terms, compared to 38.6 MT booked during the same period a year ago, CIL said in a statement.
The Maha Vikas Aghadi (MVA) government has come out with a renewable energy policy that has set a target of adding 17,385MW renewable energy capacity by 2025. It was cleared by the cabinet. An investment of Rs 75,000 crore is expected in this sector in the coming five years.
Coal India Ltd will likely undergo a reform in marketing and sales next year, a top government official said. The exercise, among other improvements, will aim at doing away with multiple types of auctions of the dry fuel.
The foreign research and brokerage house expects the Indian economy, as measured by gross domestic product (GDP), to grow at 9.9% in 2021, eclipsing China (2021 GDP growth pegged at 9%) and Singapore (at 7.5%) during this period.
Indian economy is gradually returning to pre-covid levels and economic recovery momentum has continued in the December quarter (Q3FY21) said Tanvee Gupta Jain of UBS Securities. High-frequency indicators suggest economic activity appears to be gradually returning to pre-covid level although the service sector continues to lag.
Fitch Ratings raised India’s GDP forecast to -9.4% in the current fiscal year to March 2021 from a previously projected contraction of 10.5% after the economy staged a sharper rebound in the second quarter.