Retail inflation scaled a 40-month peak of 5.54% in November and industrial production contracted by as much as 3.8% in October, stoking the fear that the country may be in for an extended period of intense economic slowdown.
Official data showed the output of both consumer durables and capital goods contracted by 18% and 21.9%, respectively, in October, the sharpest plunge in the current IIP series (since April 2012), amply reflecting a collapse in both consumption as well as investments.
Companies spent Rs 11,867.2 crore on CSR activities in fiscal year 2018-19. This is the highest since such spends became mandatory in FY15.
The Companies Act made it necessary for firms to spend at least two per cent of their average net profit over the preceding three years on CSR projects. The spends could be under heads ranging from education and healthcare, to sports or for ensuring gender equality.
Fuel linkage rationalisation implemented by Coal India Ltd (CIL) has translated into an annual cost saving to the tune of ₹3,770 crore in coal transportation for around 58 thermal power plants.
Linkage rationalisation is transfer of coal supply linkage of a power plant from a far end source to the nearer source. A total of 63 million tonnes of coal movement is currently involved under the rationalisation policy, CIL said.
India, for the first time, ranks among the top 10 in this year’s Climate Change Performance Index (CCPI) presented at the COP25 climate summit.
The current levels of per capita emissions and energy use in India, ranked 9th in the “high category”, are still comparatively low and, along with ambitious 2030 targets, result in high ratings for the green house gas (GHG) emissions and energy use categories, as per the report.
However, despite an overall high rating for its Climate Policy performance, experts point out that the Indian government has yet to develop a roadmap for the phase-out of fossil fuel subsidies that would consequently reduce the country’s high dependence on coal.
Steel demand in the first two months of this quarter had declined 1.8% to 15.4 million tonnes against 15.7 million tonnes in same period last year, with no hope in demand recovery expected in December.
Domestic steel producers have announced moderate price hikes in November and December, in line with rising international steel prices, said ICRA.
Iron prices are set to increase from March 2020 as the Odisha government annuls three rounds of bids called in to auction 20 iron mines whose leases are expiring in March.
The fresh bid documents were released on December 6 with original timelines maintained. In an attempt to stop cornering of mines by one single bidder, the Government has banned multiple bids from the same company, including its affiliates.