There was a sharp fall in power output on Thursday from a plant in Gujarat that left India more than 9,000 megawatts short of peak demand, according to two officials at the state grid operator.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
State behemoth Coal India, the world's largest coal miner, has failed to raise its output fast enough to meet demand, and millions of Indians still go without power.
India on Tuesday set a minimum export price for onions of $300 per tonne to discourage overseas shipments amid an inflation scare that threatens to stoke public anger over rising prices at local food markets.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
Jindal Steel and Power and JSW Steel, are in competing talks to buy parts of insolvent Italian steelmaker Lucchini.
Environment ministry has given its go-ahead to POSCO's planned steel plant in the country, but has asked it to spend on "social commitments", a company spokesman said, raising the project's cost by $600 million to $12.6 billion.
On Tuesday, the partially convertible rupee, the worst performing currency among the major global economies, dropped as much as 3.1 percent to 68.12 per dollar.
But the company should take extra steps to prevent pollution.
Jindal's house was raided by the CBI on Tuesday.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances