After three successive quarters of above-target inflation, there are indicators that inflation could have lastly peaked, Barclays India stated in a report. In its estimation, inflation will stay elevated at 7.2% in November, the tenth above-target studying this 12 months, although decrease than October’s 77-month excessive.
India’s coal import saw a drop of 18.6% to 116.81 million tonnes (MT) during April-October this fiscal as against the same period a year ago. India had imported 143.63 MT of coal during the corresponding period of FY 2019-20, according to a provisional compilation by mjunction services.
The contraction in India’s real GDP can narrow down to just 1-2%, said a report by Motilal Oswal Financial Services. Accordingly, the in-house Economic Activity Index (EAI) for India’s real GVA (EAI-GVA) grew by 4.8% YoY in October 2020, marking the second consecutive month of growth.
The despatch of coal by CIL to the power sector declined 6.6% to 236.97 million tonne (MT) in April-October period of the ongoing fiscal. The company had supplied 253.76 meric tonnes of coal to the power sector in the corresponding period of the previous fiscal, according to government data.The fuel supply by Singareni Collieries Company Ltd (SCCL) to the power sector in the seven-month period dropped to 18.47 meric tonnes from 29.82 meric tonnes a year ago, it said.
The RBI has revised its forecast of economic growth for the current fiscal year (2020-21) to (-)7.5% compared to its earlier forecast of (-)9.5%. The second half of the fiscal year is expected to show positive growth, Shaktikanta Das said.
Aditya Birla Group firm UltraTech Cement Ltd announced Rs 5,477 crore investment towards 12.8 mtpa capacity expansion with a mix of brown field and green field expansion. Upon completion of the latest round of expansion, company’s capacity will grow to 136.25 mtpa.