As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
Plans 'complete' agricultural solution in mining areas
This will help Coal India become globally competitive, says Minister of State for Coal Dasari Narayana Rao.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
Reliance Industries has regained the top slot among Indian energy companies on the Platts global list
"We expect the government to exempt our employees from paying tax on housing perquisites. On an average, every year our non-executive workers pay about Rs 144 crore to the government on account of such tax. Exemption will motivate our employees, working and living in difficult conditions," said Coal India Ltd Chairman P S Bhattacharyya.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
Court says no evidence of cartel in low bids for coal blocks.
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
The growth of eight key infrastructure sectors rose to 5.2 per cent year-on-year in March due to improvement in the output of crude oil, cement and electricity, according to official data released on Tuesday. In 2023-24, the growth rate in the output of these eight sectors was 7.5 per cent, marginally down from 7.8 per cent recorded in the year-ago period.
The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 40,000 crore, as stated in the budget.
Coal India Ltd, the world's largest coal producer, may buy up to a 15 per cent stake in US-based Peabody Energy Corp's Australian assets early next fiscal for an estimated USD 100 million (about Rs 450 crore).
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said. Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added. "The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
Can relax penalty payable in case of a shortfall on 80% committed quantity
The court noted that Gupta made 'dishonest misrepresentation' before the then prime minister.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
Top sources in the government told Business Standard that Railway Minister and Trinamool Congress chief Mamata Banerjee's opposition to divestment plans of profit-making public sector entities prompted the cabinet not to take it up for discussion today.
The Navy wanted to ascertain the water level as their divers can operate up to 100 feet in a closed container-type situation, a district official said.
The court said accused cannot leave India without getting its permission.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
After extricating five bodies from an abandoned coal mine in Jharkhand's Dhanbad district, government authorities and the Eastern Coalfields limited Wednesday called off the rescue operation, while locals and leaders of political parties claimed more people were still trapped under the debris.
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In 2010, R Power acquired 100 per cent economic interest in three coal mining concessions in Indonesia
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Coal India would be second company to hit the markets under the government's disinvestment programme.
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 15-member team, equipped with specialised diving equipment including a re-compression chamber and remotely operated vehicles capable of searching underwater, went straightway to the mine site in the remote Lumthari village in East Jaintia Hills district.
The Prime Minister's Office on Tuesday reviewed the coal supply and power generation scenario as the government looks at ways to defuse the energy crisis being faced by several states.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Power stations with captive mines might look at this as an opportunity to sell merchant power at higher rates.
