• Coal India (CIL) launched a special category of e-auction for importers of coal. This is in line with the government’s declaration to bring down coal imports to zero.
  • Coal India has introduced a special spot e-auction scheme for importers to boost sales and reduce India’s dependence on imports. Buyers including traders who imported coal after March 2018 are eligible for bidding under the scheme.
  • The Coal Ministry is devising a single window clearance mechanism for faster online application processing for various approvals, including environmental clearance, required for operationalisation of coal blocks.
  • ICRA sharply revised its forecast on the contraction in the Indian economy to 9.5% for 2020-21 from its earlier assessment of 5%.
  • India registered a trade surplus after almost two decades with the balance in June turning in the country’s favour at $790 million, official data showed. India’s exports contracted for the fourth consecutive month and shrank 12.41% to $21.91 billion in June while overall imports plummeted a steep 47.59% to $21.11 billion.