India’s rupee weakened to the lowest level in more than a month and bonds fell as a jump in oil prices once again exposed the nation’s vulnerability to spikes in energy costs. The currency slid as much as 0.8 percent to 69.8775 per dollar at 9:35 a.m. in Mumbai
This comes after the union cabinet gave its nod to recognise hydropower as renewable source of energy. “We might find some kind of cheaper funding by multilateral lending institutions as the government has recognised hydropower as renewable source of energy,”
A rebound in oil prices poses a risk to India’s benign inflation expectations that last week allowed the central bank to deliver its second rate cut of 2019. With crude at a five-month high, many investors are turning less confident about the Reserve Bank of India’s pace
The government is considering ways to provide relief to the makers of railway components, according to a senior official, as such vendors have seen their costs rise after the goods and services tax was rolled out.
India is witnessing a listless growth in electricity demand, possibly signaling more slowdown in Asia’s third-largest economy. Electricity requirement from distribution utilities in February rose 1.3 percent
The Ministry of New and Renewable Energy in association with the World Bank and Asian Development Bank is developing a unified web portal, which will facilitate as a single-window clearance system for the consumers looking to install rooftop solar panels.
Cargo handled by Indian ports in the previous fiscal rose at its slowest pace in five years despite a sharp turnaround seen in oil & gas and container cargo in March.
Mithilesh Kumar, who runs a small electrical shop in Delhi’s Gujranwala area, has seen the sales of incandescent electric bulbs fall drastically over the past few years. “People prefer LED bulbs as the prices have declined significantly.
The Supreme Court’s order to quash Reserve Bank of India’s Feb. 12 circular on defaulting companies will offer immediate relief to commissioned thermal power plants with up to 15,000 megawatt capacity, according to an official from the Ministry of Power.
The government is expected to raise about Rs 480 crore by selling 12.12 percent stake in Rail Vikas Nigam Ltd. with both retail and institutional investors lapping up the shares reserved for them.