The government's high-level panel looking into the controversial coal block allocations for captive mining has decided against cancelling three blocks, given to Nagpur-based Shree Veerangana Steels.
While three operational mines in Chhattisgarh had a capacity of 12 million tonnes (mt), six were yet to start production.
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Crony capitalism will of course generate investment and ensure profit for private capital, but it won't give employment or income to the people. If you can make money by selling coal or speculating in land, why produce electricity, why invest in research and development, why even set up factories, asks Praful Bidwai.
Power and Coal Minister Piyush Goyal warned that it would take years to alleviate coal supply shortages, which have reduced stocks at thermal power stations to their lowest since a huge blackout in 2012 cut off 620 million people.
The state needs great numbers of new-generation entrepreneurs.
Within a month of the Comptroller and Auditor General of India (CAG) tabling the coal block allocation report in Parliament in August last year, the Central Bureau of Investigation (CBI) filed a First Information Report (FIR) against Hyderabad-based Navabharat Power Private Ltd for the coal block allotted to it in Odisha in January 2008.
The much-delayed insurance bill and the goods and services tax bill are among the 39 bills that are expected to come up during the month-long Winter Session of Parliament beginning next week.
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
Despite facing tough times for a while now, a May 2014 press release of Prakash Industries said it had added capacities in its steel melting and ferro alloys divisions.
Duty cut on raw material imports are not likely.
Company looking for acquisition of coal properties abroad.
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the sector.
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
It's been months since Jindal returned the private land to the state government, free of cost, but not a cottah has been distributed
The government has a two-pronged strategy for e-auction of cancelled coal blocks.
E-auction or e-tendering moves the process of bidding for government contracts completely online, removing most manual procedures and, therefore, creating an accountability trail.
'The Budget will be positive, continuing on the path of growth taken so far.'
Markets could slide again owing to conditions in Europe and the US.
Many top corporate groups hit hard, in penalties and sunk investments, beside loss of future revenue
Govt keen to revive business sentiment in india.
Coal ministry says Sasan coal cannot be used for other plant.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
The government has threatened to cancel the coal block alloted jointly to ArcelorMittal and GVK Power in Jharkhand for the inordinate delay in developing the property.
The sector shines on strong demand growth, spurred by strong growth in investment in infrastructure, partially impacted by hike in excise duties and increase in cost of coal
Hearing the petition by Tata Power against a decision of the Empowered Group of Ministers to allow use of coal from the captive mines for Sasan Ultra Mega Power Project to other projects, the Court did not give a stay and fixed the next date for hearing on February 24.
The country imported 9.31 million tonnes (mt) of steel in FY15.
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
Tata Power was one of the bidders for the 4,000-Mw Sasan UMPP in Madhya Pradesh, finally bagged by Reliance Power. Tata Power says the permission granted for diversion of coal from the Sasan project's captive mines was a substantial deviation from the bid conditions and affected the economics of the project. It approached the Delhi High Court challenging this diversion and sought re-tendering for the UMPP so that the bidders could factor in the benefits of this diversion.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Tata Power Company has moved the Delhi high court challenging the government's decision to allow Anil Ambani-led Reliance Power to divert coal from the captive mines of Sasan Ultra Mega Power Project for use in other projects.
Union Budget 2014-15 is positive for metals and mining companies.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
The Centre on Wednesday told the Supreme Court it would examine the current status of development in 61 coal blocks allocated to companies, on a case-by-case basis, and take a decision within six weeks.
'We will have a well-designed product, and not a compromise.' 'We will make a completely contemporary vehicle, in keeping with consumers' aspirations, not like the Nano, which disappointed them,' Sajjan Jindal tells Shreekant Sambrani.
Dr Manmohan Singh's role in the sordid saga of the Coal Allocation Scam was always Delhi's worst-kept secret; calls for his interrogation will mushroom after he was named by P C Parakh, says T V R Shenoy.
Is it inconsistency in policy, or the lack of robust support?
