The Union coal ministry has added 11 new blocks to the list of mines planned to be offered for the second tranche of the commercial coal auctions. With the new additions, as many as 75 mines with reserves of about 38,000 million tonnes (MT) of the fuel, will tentatively be offered for commercial mining without any end-use restrictions.
India’s merchandise exports rose for the second consecutive month in January and at a faster pace than seen in preliminary estimates released earlier this month, official data showed. In an indicator of the recovery in domestic demand, imports increased and the country’s trade deficit narrowed to $14.54 billion.
Economic activity is on the “verge of normality” after getting severely hit by COVID-19 and Indian GDP will grow at 13.5% in FY22, a Japanese brokerage said. The brokerage said it expects the real GDP to contract by 6.7% in FY21.
Expectations that the country’s GDP would record growth in the third and fourth quarters of 2020-21 are getting stronger on account of various reforms undertaken by the government in the last ten months, PHDCCI said. It said out of the 10 indicators of QET (Quick Economic Trends) of economic and business activity tracked by PHDCCI, nine have performed positive.
Industrial production grew by 1% in December, entering the positive territory after a month gap, mainly due to better performance of the manufacturing sector, official data showed. The manufacturing sector, which constitutes 77.63% of the index of industrial production (IIP), recorded a growth of 1.6% in December 2020, as per the data released by the National Statistical Office (NSO).
Coal is projected to remain the largest single source of electricity in India in 2040, according to Michelle Manook, Chief Executive, World Coal Association. She said that coal will continue to play a vital role in supporting intermittent renewable energy sources to underpin infrastructure development and industrialization.