The Centre goals to finish awarding of initiatives envisaged below Bharatmala, its flagship highways improvement programme, by 2023. The first part of the Bharatmala scheme accredited in 2017 contains development of 24,800 km of nationwide highways, along with 10,000 km of steadiness highway works below the National Highways Development Programme (NHDP).
Coal supply by state-run CIL to the power sector declined by 5.3% to 318.04 million tonnes (MT) in the April-December period of the ongoing fiscal. The state-owned company had supplied 335.92 MT of coal to the power sector in the corresponding period of the previous fiscal, according to official data.
The country’s real gross domestic product (GDP) is likely to expand by 11% in the next financial year due to a faster economic recovery and on a low base, says a report. The report by domestic rating agency Brickwork Ratings said economic activities are slowly reaching pre-COVID levels following the relaxation of the lockdown, except in sectors that remain affected by social distancing norms.
Consumer Price Index (CPI)-based inflation eased to 4.59% in December 2020 compared to 6.93% in November, according to government data. Meanwhile, the Index of Industrial Production (IIP) contracted by 1.9% in November as against 3.6% growth in October, according to data from the Ministry of Statistics and Programme Implementation.
With number of active COVID-10 cases falling sharply, India’s economy is expected to clock the fastest growth among Asian peers with higher than 11.5% growth in FY’22, according to a report by UBS global research.
India’s economy is expected to see double digit growth at 10.1% in the FY22 according to ICRA, however the rating agency cautioned that in absolute terms the country’s gross domestic product (GDP) would only “mildly” surpass the levels of FY20.