GOOD AFTERNOON INDIA

December 14, 2018, Friday

Your Afternoon News Updates From Across The Media Space 

MUST READ

Another global financial crisis coming or not? Morgan Stanley CEO calls George Soros warning ‘ridiculous’

Another global financial crisis coming or not? Morgan Stanley CEO calls George Soros warning ‘ridiculous’

Morgan Stanley Chief Executive Officer James Gorman said that investor George Soros’s contention another major global crisis may be in store is unrealistic, and that the Federal Reserve will probably hike interest rates three more times in 2018 despite recent volatility.

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Power plants around Delhi don't face coal shortage: Goyal

Power plants around Delhi don't face coal shortage: Goyal

Railway Minister Piyush Goyal on Wednesday said that the power plants around Delhi do not faces any coal shortage as the Railways and the Coal Ministry are working together with all the discoms to ensure sufficient adequate coal availability.

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Suzlon Energy posts consolidated net loss at Rs 469 cr in Mar quarter

Suzlon Energy posts consolidated net loss at Rs 469 cr in Mar quarter

Suzlon Energy today reported a consolidated net loss of Rs 469.85 crore in the quarter ended March 2018 mainly due to lower income.

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New offshore wind farm project will dwarf nation's 1st offshore project

New offshore wind farm project will dwarf nation's 1st offshore project

A Rhode Island company is going to build a wind farm that will be 10 times the size of the nation's first offshore wind farm.

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Bad News For Discoms: Narendra Modi Government Proposes To Penalise Them For Load-shedding

Bad News For Discoms: Narendra Modi Government Proposes To Penalise Them For Load-shedding

The draft amendment to the National Tariff Policy, 2016, released by the power ministry on Wednesday proposed to introduce a penalty mechanism for gratuitous load-shedding by electricity distribution companies (discoms),

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Sterlite plant closure may turn India into copper importer: Report

Sterlite plant closure may turn India into copper importer: Report

The closure of the Sterlite Copper plant in Thoothukudi (Tuticorin), Tamil Nadu, would increase domestic supply crunch and may turn India into a net importer of primary copper, according to a Cogencis report.

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After Solar Plant, ED attaches Nirav Modi's wind farm worth Rs 53 crore

After Solar Plant, ED attaches Nirav Modi's wind farm worth Rs 53 crore

After solar power plant in Ahmednagar district of Maharashtra, now Nirav Modi's wind farm in Jaisalmer district of Rajasthan has been provisionally attached under the Prevention of Money Laundering Act (PMLA) by the Enforcement Directorate (ED).

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'124,000 premature deaths can be avoided if coal-fired plants meet standards'

'124,000 premature deaths can be avoided if coal-fired plants meet standards'

The implementation of new emission standards for thermal power plants can avoid 124,000 premature deaths every year in India, says a new report suggesting 13 measures to drop pollution levels by 40 per cent.

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4 years of Modi govt: Power ministry's unwavering endeavour illuminated rural India

4 years of Modi govt: Power ministry's unwavering endeavour illuminated rural India

From electrification of villages to making India a power surplus country, the power ministry has been unwavering in its endeavour to light up the nation. As Modi government completes its four years, it would not be wrong to say that power ministry, which was under Piyush Goyal till recently, has been one of the top performing ministries.

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Zero Coal Stock Now At NTPC-Kaniha

Zero Coal Stock Now At NTPC-Kaniha

While the Government declares more thermal power plants in and outside of Odisha, it has miserably failed to feed the nation's most prestigious and reliable 3,000-MW NTPC-Kaniha thermal power plant, resulting in zero coal stock and subsequent reduction of 500-MW power production.

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India Seeks Gold, Diamond Mining Rights In Russia

India Seeks Gold, Diamond Mining Rights In Russia

India is seeking rights to mine for gold and diamonds in Russia’s resource-rich Far East, Trade Minister Suresh Prabhu told Reuters on Tuesday.

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Rural Electrification Corporation’s net NPAs spike as power firms face stress

Rural Electrification Corporation’s net NPAs spike as power firms face stress

Rural Electrification Corporation Ltd’s (REC) net non performing assets (NPAs) jumped 1,303.30% in the last four years from Rs 970 crore in the financial year (FY) ending March 2015 to Rs 13,612 crore in FY2018.

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Coal loading in India up 19% in April-May: Coal Minister Piyush Goyal

Coal loading in India up 19% in April-May: Coal Minister Piyush Goyal

Loading of coal increased by 18.7 per cent during April-May to 431.5 rakes, Railway and Coal Minister Piyush Goyal said here on Wednesday. Addressing a conference, he said: “Currently, April-May coal loading has increased by 18.7 per cent. Loading has increased from 363 rakes earlier to about 431.5 rakes in April-May 2018.”

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Kejriwal trying to hide own ‘failures’ by claiming low coal supply: Piyush Goyal

Kejriwal trying to hide own ‘failures’ by claiming low coal supply: Piyush Goyal

Railway Minister Piyush Goyal on Wednesday slammed Arvind Kejriwal for alleging that the national capital was facing an “alarming level” of coal shortage, saying the Delhi Chief Minister was trying to hide his own “failures” by making such “baseless” claims.

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Allow power tariff hike to pass-through environment norms cost: Govt

Allow power tariff hike to pass-through environment norms cost: Govt

Coal-based thermal power plants' tariff will rise in coming days because the government has decided to allow pass-through of cost incurred by them for meeting environment norms notified by the environment ministry in December 2015.

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ReNew to retire debt, build M&A warchest with proceeds from planned IPO

ReNew to retire debt, build M&A warchest with proceeds from planned IPO

India’s largest renewable power company, ReNew Power, aims to deploy the funds through a planned initial public offering (IPO) of its equity on acquisition and to diversify into allied sectors.

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India won’t levy duty on solar gear imports

India won’t levy duty on solar gear imports

The government has decided not to impose safeguards duty on solar equipment from China and Malaysia, overruling the directorate general of safeguards’ recommendation of a 70% levy that had delighted local manufacturers but alarmed developers who felt that the steep rise in input costs would make projects unviable.

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PSB-funded power projects may have to procure local equipment

PSB-funded power projects may have to procure local equipment

The government is considering making it mandatory for all power projects funded by state-run banks to procure local equipment. A public procurement mechanism with purchase preference to domestic equipment manufacturers for future electricity generation, transmission and distribution projects is in the works, a senior government official said.

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Closure of Vedanta copper plant in India must be followed by a cleanup

Closure of Vedanta copper plant in India must be followed by a cleanup

The achievement of the people of Tuticorin, Tamil Nadu, southern India, in securing the closure of the dangerous Vedanta copper smelting plant deserves congratulation, although it is sad that it was achieved at the cost of 13 lives through police action (Report, 29 May).

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Analysis: Copper prices to rise for Indian manufacturers after Vedanta smelter closure

Analysis: Copper prices to rise for Indian manufacturers after Vedanta smelter closure

Indian electrical goods manufacturers will have to rely more on imported copper and are bracing for a rise in costs, after the government in Tamil Nadu this week ordered the permanent closure of Vedanta’s copper smelter there.

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SBI Alerts Branches Of Iran Russia Pitfalls

SBI Alerts Branches Of Iran Russia Pitfalls

The country’s largest lender State Bank of India (SBI) has alerted all its offices on the pitfalls of dealing with companies carrying out trade with Russia and Iran which are battling US sanctions.

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Major Russian, Indian Energy Firms Reported Moving To Pull Out Of Iran

Major Russian, Indian Energy Firms Reported Moving To Pull Out Of Iran

The threat of U.S. sanctions has prompted Russian oil giant Lukoil to put its plans to develop projects in Iran on hold while the Indian company that owns the world's largest oil refining complex plans to stop buying oil from Iran, Reuters is reporting.

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Fuel price cut: Dharmendra Pradhan thanks Kerala for shouldering responsibility

Fuel price cut: Dharmendra Pradhan thanks Kerala for shouldering responsibility

Petroleum Minister Dharmendra Pradhan on Wednesday welcomed Kerala governments move to cut the prices of petrol and diesel in Kerala by Re 1 and pointed out that the state's tax collection was one of the highest while urging other governments to follow suit.

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Reliance Industries to halt oil imports from Iran from Oct-Nov

Reliance Industries to halt oil imports from Iran from Oct-Nov

India's Reliance Industries Ltd, owner of the world's biggest refining complex, plans to halt oil imports from Iran, two sources familiar with the matter said, in a sign that new U.S. sanctions are forcing buyers to shun oil purchases from Tehran.

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Government has no role in fuel price fixation: Oil Minister

Government has no role in fuel price fixation: Oil Minister

With opposition parties mocking the one paisa cut in the prices of petroleum products, Petroleum MinisterDharmendra Pradhan on Wednesday said the prices are decided by the oil companies and the government has no role in it.

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Oil edges towards $76, supported by tight supplies

Oil edges towards $76, supported by tight supplies

Oil climbed towards $76 a barrel on Wednesday, supported by tight supplies despite expectations Opec and its allies will pump more in the second half of 2018 and helped by forecasts US inventories fell.

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LPG connections for 130 million families by 2019, says Dharmendra Pradhan

LPG connections for 130 million families by 2019, says Dharmendra Pradhan

The Narendra Modi government will match the 67-year record of previous governments by providing liquified petroleum gas (LPG) connections to 130 million families in five years of its tenure, petroleum and natural gas minister Dharmendra Pradhan said on Wednesday.

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Why Cancelling The LPG Subsidy Is A Poor Option

Why Cancelling The LPG Subsidy Is A Poor Option

Air pollution kills more than 16 lakh people in India every year — more than smoking, malnutrition or even a lack of water and sanitation.

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Govt May Soon Cut Fuel Prices By Rs 4-5

Govt May Soon Cut Fuel Prices By Rs 4-5

Fuel prices may soon be cut by Rs 4-5 in most parts of the country, if the central government goes ahead with a plan that involves a marginal cut in the excise duty on the fuel, and provided it is successful in its efforts to convince states to cut the Value Added Tax on fuel and oil marketing companies to take a cut in their commission on sales.

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Petrol Price Cut By 7 Paise, Diesel By 5 Paise Per Litre

Petrol Price Cut By 7 Paise, Diesel By 5 Paise Per Litre

Petrol price was on Thursday cut by 7 paise a litre and diesel by 5 paise - the second reduction in as many days on the back of softening international oil rates.

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Petrol, Diesel Price: Oil Marketing Companies Follow Norms, But Enjoy Commercial Freedom

Petrol, Diesel Price: Oil Marketing Companies Follow Norms, But Enjoy Commercial Freedom

While high fuel prices are a burden on the consumers and inflate costs across the board, the oil marketing companies haven’t been fully passing on the increase in landed costs — which get reflected in the ‘trade parity price’ (TPP) they follow — to the consumers in recent weeks.

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Railways organizes One Day Workshop ‘Mission Raftar’ aimed at raising the average speed of Freight & Coaching Trains

Railways organizes One Day Workshop ‘Mission Raftar’ aimed at raising the average speed of Freight & Coaching Trains

Ministry of Railways conducted a one day workshop “Mission Raftaar” aimed at raising the average speed of freight trains and coaching trains in New Delhi. The workshop was inaugurated by Shri Rajen Gohain, Minister of State for Railways & Shri Ashwani Lohani, Chairman,Railway Board.

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Railways to add Electrification to increase speed of train travel and reduce environmental issues

Railways to add Electrification to increase speed of train travel and reduce environmental issues

Railway Minister Piyush Goyal on Wednesday said that the Indian Railways are working on a mission to add electrification to increase the speed of rail travel and reduce the impact on the environment.

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4 years of Modi Sarkar: Focus on safety has paid off for Railways

4 years of Modi Sarkar: Focus on safety has paid off for Railways

Safety and hassle free travel became the top priorities of the Indian Railways since Piyush Goyal took charge of the ministry last year from Suresh Prabhu. The railway ministry has seen three different ministers in the past four years but with Goyal taking charge in last September, the number of accidents dipped drastically.

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IRCTC website updated: A look at what’s new

IRCTC website updated: A look at what’s new

Indian Railway Catering and Tourism Corp., or IRCTC, Indian Railways’s most popular platform to book train tickets has relaunched its website. However, to ensure there is no inconvenience to the public, IRCTC is offering train bookings on both old and new website. Mint takes you to an experiential walk through the IRCTC new website.

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Station Redevelopment Programme: Railways Seeks Cabinet Nod For Revamped Policy

Station Redevelopment Programme: Railways Seeks Cabinet Nod For Revamped Policy

After a lot of deliberations with the ministry of finance and Niti Aayog, the ministry of railways has finally sent a note to the Cabinet on the ambitious station redevelopment programme, revamping the process approved earlier.

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