• Domestic rating agency CARE Ratings said the country’s economy is likely to see a sharper contraction of 8-8.2% in the current financial year compared to a decline of 6.4% it had projected earlier.
  • Coal and Mines Minister Pralhad Joshi  reviewed the progress of the sector with officials and deliberated on a road map to make the mining industry more competitive. The mines ministry is proposing reforms to accelerate growth and employment generation in the sector and stimulate overall economic growth amid the COVID-19 pandemic.
  • State-owned Coal India Ltd (CIL) said it plans to restore production from its discontinued underground mines and has identified 12 such blocks with provisional mineable reserves of around 1,060 million tonnes. The move is seen as part of efforts by the PSU coal major to meet its overall production target of one billion tonnes in the next four years.
  • Union Environment Minister Prakash Javadekar said he was hopeful that India would achieve its goal of reducing carbon emissions by 35% in the next ten years and upscaling solar power capacity from 175 gigawatt to 220 gigawatt by 2022.
  • Western Coalfields Ltd (WCL) has prepared an ambitious road map to almost double its coal despatch capacity through the rail mode, according to a statement. WCL, an arm of Coal India, has set ‘Mission 100 Days’ agenda to streamline activities to reach peak despatch of 50 rakes per day from January next year with support from railways.
  • 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.