• Power generation from solar and wind projects will likely be cost-competitive relative to coal-based power in India in 2025-2030 period, according to Moody’s Investors Service.
  • October month for India’s renewable energy recorded 10,025 million units (MU) of power generation from renewable sources, a 31% jump compared to 7,634 MU in the same month last year, according to data from the Central Electricity Authority (CEA).
  • Goldman Sachs revised upwards its FY21 growth forecast for India to a 10.3% contraction, from -14.8% it had projected in September, according to a report released.
  • Indian economy is likely to contract 7.5 per cent in the current fiscal but will see a double-digit growth in 2021-22, former chief economic adviser Arvind Virmani said.
  • State-owned miner Coal India Limited (CIL) has issued 35 tenders for transportation of coal from its mine pitheads to despatch points. The estimated investment expected is Rs 12,500 crore, said the company in a statement. The handling capacity of these 35 projects will be 406 million tonnes per year (MTPA).
  • Finance Minister Nirmala Sitharaman increased the fund allocation for the Prime Minister Awaas Yojana-Urban (PMAY-U). The amount was increased by as much as Rs 18,000 crore, which is over and above the Rs 8,000 crore earmarked in the budget for the financial year 2020-21. According to the Minister, the higher allocation towards the PMAY-U scheme will help in starting construction work of 12 lakh houses and completing 18 lakh houses.