The supply of fuel by state-owned CIL to the power sector registered an increase of 6.2% to 42.58 million tonnes in February against 40.10 million tonnes in February 2019, according to the recent government data.
However, the despatch of coal by CIL to the power sector in the April-February period of 2019-20 registered a decline of 5.8% to 419.70 MT, against 445.71 MT in the year-ago period, the data said.
Fitch Solutions cut India’s economic growth forecast for the financial year 2020-21 to 1.8% saying private consumption is likely to contract due to large-scale loss of income in the face of worsening domestic outbreak of COVID-19.
Amid growing sentiment among companies to shift their manufacturing base from China in the wake of coronavirus epidemic, India is preparing to introduce policy changes to facilitate manufacturing in the country and attract investment.
The Ministry of New and Renewable Energy (MNRE) has set up Renewable Industry Facilitation & Promotion Board to facilitate investment in the sector, the ministry said in a release.