As per the Interim Budget 2024-25 document tabled in the Lok Sabha, the government is not expected to receive any money from monetisation of public assets in the current fiscal.
Reliance Industries Ltd on Thursday reported a 7.4 per cent rise in its December quarter net profit, as its retail business rebounded and telecom earnings rose. Its consolidated net profit of Rs 18,540 crore, or Rs 13.70 per share, in October-December - the third quarter of April 2024 to March 2025 fiscal (FY25) - compared to Rs 17,265 crore, or Rs 12.76 a share, in the same period a year back, according to a stock exchange filing by the company.
This deterioration in air quality led to prompting enforcement of Stage II of the Graded Response Action Plan (GRAP) in the national capital.
The proposed units comprise seven coking coal washeries and 13 non-coking coal washeries.
The blocks are Kunur mine in West Bengal, Morga South A, Morga South B, Meguli mines and Phutamera in Chhattisgarh, Dahegaon Dhapewada and Kalambi Kalmeshwar blocks in Maharashtra, Karanpura Mahuamilan mine in Jharkhand.
Amid reports of the ongoing coal shortage in the country, Finance Minister Nirmala Sitharaman stressed that there is no shortage and termed these as "absolutely baseless", saying India is a power surplus country. Sitharaman said that Power Minister R K Singh went on record just two days ago when he said absolutely baseless information is floating around that there is probably shortage of coal, shortage of other inventories which will lead to a sudden gap in the supply demand situation in the energy consumption. "Absolute baseless! There is no shortage of anything. In fact, if I recall the minister's statement, every power producing installation has the next four days' stock absolutely available within their own premises and the supply chain has not broken at all," Sitharaman said at Harvard Kennedy School on Tuesday.
PSUs will get direct allotment.
The body has been detected inside the 370-foot-deep coal mine in Meghalaya's East Jaintia Hills district,
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
Here's how mafia controls and trade in coal.
'An even bigger salute to all the rescue workers and all the agencies that worked tirelessly to rescue our 41 workers trapped in the Utarkashi Silkyara tunnel. Jai Hind!''
Under attack for several files pertaining to coal block allocations going missing, Coal Minister Sriprakash Jaiswal said that he had asked officials to locate the missing papers by Tuesday and hinted the Central Bureau of Investigation may be asked to look into the case after that.
The government on Tuesday said it has received Rs 4,353 crore as dividend tranches from seven public sector enterprises, including Coal India and PFC. Government has respectively received about Rs 575 crore and Rs 2038 crore from Nuclear Power Corporation of India Ltd and Coal India Ltd as dividend tranches," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted. Besides, about Rs 887 crore and Rs 653 crore have been received from Power Finance Corporation (PFC) and Hindustan Aeronautics Ltd as dividend tranches.
Retail sales of vehicles across categories in India grew by 11.21 per cent at 32,08,719 units in November, as compared to 28,85,317 units in the same month last year riding on two-wheeler demand, Federation of Automobile Dealers Associations said in Monday. Retail sales of two-wheelers were at 26,15,953 units last month, as compared to 22,58,970 units in November 2023, a growth of 15.8 per cent buoyed by the festive spillover.
The Supreme Court of India has ruled that a wife is entitled to maintenance from her husband even if she refuses to cohabit with him after a decree for restitution of conjugal rights, provided she has valid and sufficient reasons for refusing to live with him. The court stated that the circumstances of each case must be considered individually and a decree for restitution of conjugal rights does not automatically disqualify a wife from receiving maintenance. This landmark ruling clarifies the legal interpretation of Section 125(4) of the Criminal Procedure Code (CrPC) regarding maintenance and emphasizes the importance of considering individual circumstances when determining a wife's right to maintenance.
The scheme, which was earlier implemented by the coal companies, has been extended for the current fiscal also.
Against the Reserve Bank of India's (RBI's) projection of 7.1 per cent, India's first quarter (Q1) 2024-25 (FY25) gross domestic product (GDP) growth came in at 6.7 per cent. This is in line with market expectations and significantly lower than the 7.8 per cent recorded in the fourth quarter (Q4) 2023-24 (FY24) and 8.2 per cent in Q1FY24. The quarter witnessed decreased government consumption and investment spending due to the parliamentary election.
From Jammu and Kashmir to Andhra Pradesh, consumers are facing power cuts ranging from 2 hours to 8 hours.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
Three experts from Western Coal Fields, a subsidiary of Coal India Limited, camped at the Silkyara tunnel site from November 20.
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.
Many were so disillusioned with AAP that they left it in droves. A 10% drop in AAP's vote share is a pointer to that. To assume that if AAP had teamed up with the Congress, the Congress' 6.3% vote share would have helped AAP retain control of Delhi is erroneous, argues Sudhir Bisht.
The government on Friday said the auction of explored coal blocks may take place either by December or the beginning of the next year.
Though Zanjeer is credited as Amitabh's breakthrough film, it didn't immediately enthrone him. Rajesh Khanna countered with a huge hit in Daag that year. But Deewar upended audience's cinematic taste and filmland hierarchies at the very start of 1975. Bachchan emerged as a one man industry, the angry young man who could regulate the thermostat of the entire film industry, recalls Dinesh Raheja.
The government on Monday said the coal supply at the thermal power stations is not adequate and the countrywide fuel stock has come down to half of the requirement norm of 22 million tonnes.
While the SECR has cancelled 22 mail or express trains and 12 passenger trains, the Northern Railways has cancelled four mail or express trains, and as many passenger services.
According to coal ministry officials, the Bill is likely to be introduced in the Lok Sabha on Wednesday. The Coal Mines (Special Provisions) Ordinance, 2014 was brought in October this year in the wake of the Supreme Court's decision cancelling 214 coal blocks.
Forest and tribal rights activist Alok Shukla will on Friday receive the prestigious Goldman Environmental Prize -- 2024 for successfully leading a community campaign that saved 4.45 lakh acres of biodiversity-rich forests from 21 planned coal mines in Chhattisgarh.
Gautam Adani, promoter of Adani Power Ltd, has a reason to relax, even as the power arm of his group of companies continues to make losses for an eighth straight quarter.
Of these 36 coal blocks, one mine will be given to the steel sector while the rest will be given to the power sector.
The Trinamool Congress MP, considered number 2 in the party, also advised Shah to teach nationalism to his son and make sure that the law and order situation improves in Delhi.
Almost all major metal and mining firms would be affected by the Supreme Court ruling canceling 214 coal blocks, but Naveen Jindal's JSPL and Aditya Birla Group's Hindalco would be among the worst hit, analysts said.
Exports of 19 major commodities, including petroleum products, coal and marine items, saw growth in terms of volume during April 2023-February 2024, even as they witnessed contraction in value terms during the same period. Government officials said the rise in export volume despite a decline in value implies that these commodities show a stronger market demand.
The Adani group struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal. The project had faced protests from a section of population with several banks even refusing to fund it. The group, however, went ahead with the project which included construction of a brand new railway line connecting an Australian port to the mine -- situated 300 kilometers away in Queensland.
The government's move to set up a regulator for the coal sector would help bring in transparency, encourage exploration and enhance quality of the dry fuel, India Inc said on Friday.
The Supreme Court is expected to deliver its final verdict on coal mine allocations later this week.
The proposed auction has business-friendly terms and conditions, including reduced upfront amount, adjustment of upfront amount against royalty and liberal efficiency parameters to encourage flexibility to operationalise the coal mines. Besides, 100 per cent FDI through automatic route has been allowed.
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.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
India is looking at buying coal mines in Australia through two state-owned entities in a bid to bridge the domestic coal supply-demand shortfall, a top government official said on Monday.
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