In a bid to relieve power sector stress, the central government plans to auction power supply contracts with attached coal suppliers, permitting coal usage for short-term power contracts and tweaking the payment mechanism to help power projects
Steel Secretary Aruna Sharma stated that government’s National Steel Policy has saved foreign exchange of Rs 5,000 crores since last year and has added around 24 million tonnes of crude steel capacity during the last four years.
India has announced specific solar energy projects in parts of Africa in consultation with local governments and is seeking to ensure effective implementation of its Line of Credit of $1billion offered at a time when China is striving to emerge as a partner for much of the developing world.
Oil prices are closely aligned with the Narendra Modi government’s fiscal fortunes. When PM Modi was sworn in late May 2014, the price of the Indian basket of crude oilBSE 0.52 % was around $108 per barrel.
The last three years under the Modi government have seen the transformation of the environment from being a field of relative stability and inactivity, to functioning as an active instrument of capital accumulation.
Affordable housing is not just about providing homes to the lower-income strata of society, though that is what the Modi government’s avowed intention behind the ‘Housing for All by 2022’ doubtlessly is.