The United States has temporarily suspended foreign assistance to Pakistan for re-evaluation following an executive order issued by President Donald Trump, according to a media report on Tuesday.
Whether the ambitious targets are achievable is a moot question as India's earlier target was 20,000 MW of nuclear power by 2020.
State-owned CIL on Monday said coal supply to the power sector rose 15.6 per cent to 49.7 million tonne last month in the wake of high demand of the dry fuel from electricity generating plants and stressed that it is planning to augment its dispatches further, especially to power plants in the coming months. The statement comes at a time when several parts of the country are grappling with power crisis. "With the intense demand for coal continuing unabated driven by an upward spiral in the electricity generation, CIL (Coal India) pushed up its supplies to power plants of the country to 49.7 million tonnes (MT) in April'22.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
'A government whose policies are focused around making the life of ordinary citizens, specially the most deprived sections, richer; a government that prioritises education, health and transport, that doesn't treat its citizens as subjects who must come to it for everything, is rare in our country.' 'When such a government is thrown out, one is left stunned,' notes Jyoti Punwani.
States are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources. Government officials said the lower-than-projected borrowings by states were a sign of prudent fiscal management by them. States announce their borrowing plans every quarter.
Among major economies, India in FY23 recorded the steepest increase in greenhouse gas (GHG) emission, climbing 6.1 per cent, with China trailing close behind at 5.2 per cent, according to the United Nations Environment Programme (UNEP) Emissions Gap Report 2024. In contrast, GHG emission decreased in both the European Union (EU) and the United States (US) by 7.5 per cent and 1.4 per cent, respectively. Despite India's rise, its 2023 GHG emission remains relatively low at 4,140 million metric tons of carbon dioxide equivalent (MtCOe) against China's 16,000 and the US's 5,970.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
'It has remained around 38 per cent over the past four to five quarters.'
The market seemed enamoured with power sector stocks on Thursday as the Union Cabinet approved a bill that will lead to far-reaching reforms in the crucial sector.
Extension of tax break is part of the efforts to scale up the power generation capacity.
GAIL India's second quarter (Q2FY25) performance met expectations.
Schemes like the Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items.
'With the deployment of a higher degree of mechanisation, awarding contractual mining to MDOs and operational efficiency, we feel confident of achieving the desired target.'
The Plan allocation for the power sector has been doubled from Rs 2,230 crore in 2009-10 to Rs 5,130 crore in 2010-11. The allocation does not include allocations for Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY). This was announced by the Finance Minister, Pranab Mukherjee in his Budget speech in Parliament on Friday.
Power Minister Jyotiraditya Scindia on Monday made a high pitch for American investments in India's power sector.
State-owned CIL on Thursday said that it has floated its maiden tender to import 2.416 million tonnes of coal to ensure adequate supply of the fuel to power plants in the country. The development assumes significance in the wake of the government making all efforts to build up stock of coal to avoid the reoccurrence of power outages which happened in April on account of shortage of the fossil fuel. "In a first ever, Coal India Limited (CIL) on Wednesday floated an international competitive bidding e-tender, seeking bids for import of 2.416 million tonnes (MTs) of coal," the company said in a statement.
The Central Electricity Authority and industry body CII will present a white paper on power sector reforms to the government by the end of this month, a senior government official said.
Union Budget 2009-10 has been mildly positive for the power sector.
An exercise to rationalise coal linkages which will optimize transport of coal and reduce cost of power is underway.
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
However, the budget lacked very specific measures detailing how this will be achieved," the statement said.
Japanese power companies, including Tokyo Electric Power Company and J-Power, seek to make their presence felt in India.
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.
Though power reforms are the most important item on the government's agenda, it often leads to face-offs between the Centre and states.
Finance Minister Nirmala Sitharaman on Wednesday said the Union Budget strikes a fine balance between growth, employment, and fiscal consolidation, and promotes cooperative federalism. Replying to the discussion on the Union Budget 2024-25 and Union Territory of Jammu and Kashmir Budget in Rajya Sabha, the minister said the government is on track to achieve the pre-announced fiscal deficit target of 4.5 per cent by 2025-26. Sitharaman, also a former defence minister, said the Agniveer Scheme to recruit people in the age group of 17.5 to 21 years, is aimed at keeping the armed forces fit, young and battle-ready.
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
Coal India (CIL) produced 89 million tonnes (MT) in March-24, up 6 per cent year on year (Y-o-Y) and offtake was 69 MT, up 7 per cent Y-o-Y. FY24 production was 774 MT, up 10 per cent Y-o-Y. Offtake was 754 MT, up 9 per cent Y-o-Y. CIL targets production of 838 MT in FY25, up 8 per cent Y-o-Y over FY24.
Coal India's (CIL's) revenue for the first quarter of 2024-25 (Q1FY25) came in at Rs 36,500 crore, up 1 per cent year-on-year (Y-o-Y) and down 3 per cent sequentially, which was in line with consensus. The blended average selling price was Rs 1,687/tonne, down 5 per cent Y-o-Y and down 1 per cent Q-o-Q, which was below estimates. The adjusted operating profit (excluding overburden removal or OBR costs) stood at Rs 11,500 crore up 3 per cent Y-o-Y and up 17 per cent Q-o-Q, which beat the street. This was due to lower operating expenses.
In the short term for next five years till 2020, the sector is likely to attract nearly $250 billion.
The ministry of petroleum and natural gas would be issuing instructions for fresh gas allocation from D6 this week.
Showcasing India's power sector as a major FDI destination, the government on Friday said the country offers opportunity for $160 billion investment for doubling generation capacity to 200,000 MW in 10 years.
Report said the proposed 10,000-Mw Jaitapur and 6,000-Mw Bhavnagar plants were seeing increased opposition.
The report suggested that the tariffs can be made simple and transparent.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
With the country's peak power demand (as on Jan 2011) being 122.470 GW well below the country's current generation capacity.
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