• Amid headwinds faced by the renewable energy sector in FY20, Gujarat and Rajasthan managed to add more capacities than others, while Karnataka retained its Number One position in total installed capacity.
  • Gujarat’s total renewable capacity crossed the 10,000 MW mark in FY20, making it the third State after Karnataka and Tamil Nadu to have more than 10 GW of installed capacity, according to a Crisil Research report. It added the highest new capacity, of 1,934 MW, followed by Rajasthan, which added 1,911 MW, the report said.
  • Global rating agency Fitch sharply cut India’s GDP growth rate to 0.8% during current fiscal, which is the lowest growth projection so far. But it expects growth to rebound to 6.7% in 2021-22,
  • The power ministry extended the deadline for submission of stakeholders’ comments on the draft Electricity Amendment Bill by four weeks till June 5. The ministry had circulated the draft bill on April 17, 2020 with a deadline to submit comments in three weeks till May 8.
  • India Ratings & Research (Ind-Ra), a Fitch group company, has further slashed its estimate for India’s Gross Domestic Product (GDP) growth rate to 1.9% for 2020-21. This will be the lowest after India recorded growth rate at 1.1% in 1991-92.
  • Direct subsidies for fossil fuels will fall from $447 billion in 2017 to $139 billion in 2050, a drop of 69% on the back of increasing push towards renewable energy and energy efficiency, according to International Renewable Energy Agency (IRENA).
  • The Centre has recommended to states that upfront payment and stamp duty for auctioned mines be annualised in view of the coronavirus pandemic.