There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
Against a widening 142 MT demand-supply gap and a huge over 12,000 MW power capacity addition plans, warring ministries, specially Coal and MoEF, remaining at loggerheads throughout the year over contentious issue of 'go' and 'no go' mining zones gave much fodder to media.
Coal, refinery products, electricity and cement production registered a growth of 14.5 per cent, 8.1 per cent, 10.2 per cent and 11.3 per cent, respectively in November, as per the data released by the Commerce and Industry Ministry.
Rao is now just the Minister of State for Coal.
It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
Import segments which recorded negative growth include gold, silver, transport equipment, coal, fertiliser, machinery and machine tools. However, exports of oil seeds, coffee, rice, tobacco, spices, pharma, and chemicals reported positive growth in June.
Imports too tumbled by 58.65 per cent to $17.12 billion in April from $41.4 billion in the same month last year, according to the data by the commerce and industry ministry.
The first firing which killed six civilians, occurred when army personnel mistook coal mine workers returning home in a pick-up van singing songs on Saturday evening, to be insurgents belonging to the Yung Aung faction of the banned outfit National Socialist Council of Nagaland-Khaplang (NSCN-K), about whose movements they had been tipped-off.
Last month, Prime Minister Narendra Modi had said that the economy is showing "green shoots" as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
Power Minster R K Singh said, "The power supply ramp down and ramp up -- they (officials) handled very smoothly, and I along with my senior officials -- power secretary, POSCO CMD -- were personally monitoring the situation from National Monitoring Centre in the ministry. I congratulate all the engineers of NLDC, RLDC and SLDCs for handling the situation very efficiently especially in huge response to the Prime Minister's call".
The Reserve Bank of India is expected to hold interest rate at 8 per cent in its fifth bi-monthly monetary policy review on Tuesday.
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
A ministry official said just like an internal financial audit, a green audit would protect stakeholders.
The two signed an agreement on Monday to study and clean the Ganga.
The investment bank also says no ministries were merged even as some ministers were given more than one portfolio.
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
Reliance Power Limited, the flagship company of the Reliance Anil Dhirubhai Ambani Group (ADAG), plans to invest about Rs 2,500-3,000 crore (Rs 25-30 billion) over a period of three years, to develop three coal mines to fuel its Sasan Ultra Mega Power Project in Madhya Pradesh. Reliance Power currently has access to coal reserves of about one billion tonnes in India and abroad, including a coal mine in Indonesia, which it acquired recently.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
The government had in July 2010 imposed a cess on coal at an effective rate of Rs 50 a tonne.
The Narendra Modi-led government has issued around 50 fresh guidelines easing conditions for industry in about six months, beside launching an online system for applying environment clearances.
In the new policy, which is likely to be called the Gas Linkage Policy, the government is mulling the option of giving preference in allotment to greenfield (new) power projects over brownfield (expansion).
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Dharmendra Pradhan, Mukhtar Abbas Naqvi, Nirmala Sitharaman and Piyush Goyal have been elevated to Cabinet ministers.
Jaitley is now a minister without portfolio in the Narendra Modi government.
The output has seen a decline due to the ban in Karnataka and Goa.
Union Health Minister Harsh Vardhan on Monday said 28,252 cases of mucormycosis have so far been reported from 28 states/UTs in the country, of which 86 per cent cases have a history of COVID-19 and 62.3 per cent with a history of diabetes.
Natural gas and fertiliser output recorded a negative growth of 1.7 per cent and 1 per cent, according to the data of the Commerce and Industry Ministry.
Officials say a fall in global oil prices will reduce the government's subsidy burden, giving it a greater chance of hitting its ambitious fiscal deficit target of 4.1 percent of gross domestic product in the fiscal year to March.
The government is likely to take a call on the much-talked about divestment in Hindustan Copper next week.
The miners are now feared dead as water from a nearby river has been gushing into the 370-feet-deep pit.
These issues range from resolving the conflicts between power sector borrowers and banks.
During April-August, the eight sectors grew by 4.4 per cent, against 4.2 per cent in the year-ago period.
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
Budget session will begin on February 23 and conclude on May 8
Finance Minister Arun Jaitley to present Union Budget on February 28.
The advisory body had not met for the past three years.
He underwent a renal transplant on May 14 and on the same day, his ministerial charges were given to Piyush Goyal on an interim basis.
The growth rate was much higher a year ago at 8.7%.
'Our thrust would be on basic facilities first like sanitation'.
Amid strong opposition from CIL workers union to the proposed stake sale in the company, Finance Minister P Chidambaram has said the disinvestment proceeds of about Rs 20,000 crore (Rs 200 billion) from the coal behemoth will be invested in public sector banks.
