The government said it has released over Rs 10,000 crore to developers amid COVID-19 to boost the ‘Atmanirbhar Bharat’ scheme and expedite highways construction. Another sum of Rs 2,475 crore is under process to be released, it said.
Solar energy could help augment the rural healthcare infrastructure in India and has a potential to substitute the traditional grid-based systems in rural areas, according to the Federation of Indian Chambers of Commerce and Industry (FICCI).
Goldman Sachs forecast a 14.8% contraction in India’s economy in FY21, possibly the deepest cut estimated thus far and steeper than the 10.5% fall estimated by Fitch Ratings. India Ratings said it expects an 11.8% contraction against shrinkage of 5.3% forecast earlier, following a deeper-than-expected 23.9% decline in June quarter GDP. Goldman Sachs had earlier forecast an 11.8% contraction, while Fitch had forecast a 5% fall in its June estimates.
To address the transition in energy sources, where renewable sector is seen to gradually have a larger share, an integrated energy policy with a balanced approach towards all forms of fuel is the need of the hour, Union coal secretary Anil Kumar Jain said. With new technology such as coal gasification coming in, coal can have a number of alternative uses in the future other than power generation, Jain added.
In comparison to last year, the Indian Railways’ freight revenue between April to August has declined by almost 22%. While freight loading in August was higher compared to August 2019, it declined as against July this year, after having registered a steady growth for two consecutive months, latest freight data reveals.
Tata Steel Ltd.’s production level has now recovered to 100% as the company sees a revival in domestic demand in the current quarter led by a good monsoon and rural economy, Chief Executive Officer and Managing Director TV Narendran has said.