Jharkhand Chief Minister Mr Hemant Soren wrote to Union Coal and Mines Minister Mr Prahlad Joshi, demanding a moratorium of the auction process in the coal sector by six to nine months to ensure equitable sustainable mineral-based development in the state. Mr Soren’s letter said several national and international companies would not be able to take part in the auction amid Covid-19 pandemic and foreign travel restrictions.
The index of industrial production (IIP) crashed to 56.3 in April from 126.5 a year before, registering a massive 55.5% contraction, as most units remained shut due to a Covid-induced nation-wide lockdown. Industrial production had shrunk by 18.3% Y-o-Y in March, but it was only in April when the first full-month impact of it was experienced by industry.
According to a recent report on global investments in renewables, EURACTIV Germany reports, the share of renewable energies in global electricity generation increased again last year and capacity financed by investments even reached a record level in 2019.
As per the notification by the coal ministry, public and private sector coal consumers can now swap domestic or overseas fuel sources between themselves to reduce distances over which coal is transported. It will lower power generation costs as well as production costs for the non-regulated sector.
The Union Ministry of New and Renewable Energy (MNRE) has fixed a high capacity addition target of 14,380 MW for the renewable energy sector for this fiscal amid Covid-19-related uncertainties.