• The Organisation for Economic Co-operation and Development (OECD) marginally cut India’s economic growth forecast for 2019 to 5.8%, but said it would pick up to 6.2% in 2020 and further to 6.4% in 2021.
  • The global economy is growing at the slowest pace since the financial crisis as governments leave it to central banks to revive investment, the OECD said.
  • The world economy is projected to grow by a decade-low 2.9% this year and next, the Organisation for Economic Cooperation and Development (OECD) said.
  • Kumarmangalam Birla said his group has been going slow on capital investments this year, instead is diverting funds to drive sustainability initiatives, where he feels the government needs to become more realistic in setting the green mandates.
  • What is needed, he said, “the mandate given to the industry needs to be more realistic and the expectations on timelines are unrealistic now which needs to be looked into”.
  • The Supreme Court have paved the way for ArcelorMittal’s takeover of debt-ridden Essar Steel. While reacting to the entry of ArcelorMittal in India, domestic steel players said that the presence of more companies in the market will lead to more innovation, quality and R&D activities.
  • Ninety per cent of all awarded hybrid annuity model (HAM) projects worth over Rs 1 lakh crore have achieved debt funding.
  • And this puts to rest apprehensions of bidding intensity in hybrid annuity model projects offered by the National Highways Authority of India (NHAI) and consequent fear that many of these projects will not achieve debt tie-up, according to Crisil.
  • Crisil believes HAM will remain a good mode for highway contracts and will be preferred by the NHAI, EPC players and lenders. The key to this will be timely construction, completion of projects and receipt of payment from the NHAI.
  • Twice the toll amount will be charged from December 1 for passing through FASTag lanes without the tags at toll plazas on national highways, Union Minister Nitin Gadkari said.
  • He said 537 toll plazas have become 100% electronic toll collection compliant including 17 where FASTags will be read through hand-held devices.
  • FASTag is a prepaid tag, affixed on the vehicle’s windscreen, that enables automatic deduction of toll charges and lets the vehicle pass through the toll plaza without stopping for the cash transaction.
    The program is being implemented pan-India to remove bottlenecks and ensure seamless movement of traffic.