(BS) Mukesh Ambani-promoted Reliance Industries (RIL) on Wednesday postponed bidding for gas it plans to produce from its R-cluster field in the Krishna-Godavari (KG) basin, said sources. This is the second time RIL has changed the bidding date; the new date is now November 15. Sources in the company said bidders want more time to adapt to the new bidding system. Some added RIL may be facing lack of interest from potential bidders. “There is a lack of interest from bidders; they are not keen, given the current set of terms and conditions for the bidding,” said a source.An RIL spokesperson…
Author: Aruna Sharma
(BS) Prime Minister Narendra Modi reviewed nine mega projects in 16 states worth over Rs. 61,000 crore through video conferencing on Wednesday. “Slow pace and outdated vision adversely impacted our growth trajectory for decades. Such attitudes will not be tolerated now,” PM Modi tweeted after reviewing the projects, including in Jammu and Kashmir, the country’s newest Union Territory. “Today’s Pragati session was a fruitful one,” PM Modi tweeted, referring to the event that aims to ensure all the mega projects meet their deadlines. “As far as aspirational districts are concerned, I saw in detail the dashboard based on 49 key indicators. The…
(ET) As Delhi grapples with worsening air pollution, the Chhattisgarh government has offered the Centre a solution to the problem of stubble burning in fields—set up ethanol or biofuel units using paddy husk and rice straw, it says. On its part, the Chhattisgarh government has decided to set up at least six biofuel plants to produce ethanol in the state. It will be the first state in India to use rice and paddy husk to produce the biofuel. Chhattisgarh chief minister Bhupesh Baghel told , “Chhattisgarh is known as the rice bowl of India. We have surplus production of rice. So…
(BS) The Reserve Bank of India’s (RBI’s) working group set up to review the extant regulations on core investment companies (CICs) has favoured restricting the number of layers of such entities within a group to two by 2021. “Any CIC within a group shall not make investment through more than a total of two layers of CICs, including itself,” said the panel in its report. If the recommendation is implemented, it will cut down the room for leverage by companies. The RBI’s recent Financial Stability Reports had pointed to the central bank’s discomfort over the high level of pledged shares by…
(BS) State-owned NTPC on Wednesday said it is working on electric vehicle charging infrastructure as it believes that ultimately mobility through EVs will help. NTPC Executive Director Mohit Bhargava said electric vehicle is a good concept but the larger issue is related to the battery. “NTPC is working very strongly on the electric vehicle (EV) side. On the charging network side,” Bhargava said addressing India Energy Summit here. “There is a larger issue on the battery side…the life of the battery and how do you reuse the battery,” he added. NTPC had earlier said it has signed pacts with cab aggregators Ola, Lithium, Shuttl, Bikxie, Bounce, Electrie and Zoom Car for creation of…
(FE) Union coal minister Prahlad Joshi on Wednesday said that his ministry was not keen to acquire any coal assets abroad and aims to produce the required quantity in India instead to protect foreign exchange outflow. The country imported 235 million tonne last year and forked out 27.1 lakh crore. ” We want to cut on our import bill,” Joshi said. While Coal India ( CIL) is in looking for assets in Russia, Canada and Australia, the minister’s statement has blown up a controversy whether it was against the decision of the ministry that CIL was in pursuit for assets…
(PTI) The Ministry of Statistics and Programme Implementation will decide on a new base year for the GDP series in a few months, a senior official said on Tuesday.The ministry is working to bring in a new series of national accounts which would result in change in the existing base year of 2011-12. Though the ministry is considering 2017-18 as the new base year, no decision has been taken as the committees of experts are awaiting some more data before finalising their opinion.”The decision to change the base year (of GDP) would be taken in next few months. We are waiting for…
(ET) India needs a good dose of private investment to make power distribution viable, and a strong regulatory framework to attract foreign investment, Niti Aayog CEO Amitabh Kant said.Foreign direct investment (FDI) in India has grown by 66% at a time when investment across the globe has fallen by 30%, but FDI in the power sector can come in only if the regulatory regime is predictable and consistent, Kant said at the FSR Global Hub launch event conducted by the Florence School of Regulation and European University Institute. In September, total overdue amount on power distribution companies, which was not…
(DJ) महाराष्ट्र में भाजपा अपनी सहयोगी शिवसेना को किसी भी सूरत में मुख्यमंत्री का पद नहीं देगी। पार्टी शिवसेना को अधिक से अधिक डिप्टी सीएम और मंत्रिमंडल में 40 फीसदी हिस्सेदारी देने पर ही सहमत होगी। अगर शिवसेना सीएम बनाने की शर्त और 50-50 फार्मूले पर अड़ी रही तो राज्य में नई सरकार के गठन में देरी होना तय है। दोनों दलों के बीच आज यानी बुधवार को नई सरकार के गठन पर बातचीत हो सकती है। हालांकि यह तय नहीं है कि इस दौरान शिवसेना प्रमुख उद्धव ठाकरे के सामने भाजपा अध्यक्ष अमित शाह होंगे या कार्यकारी अध्यक्ष जेपी…
(FE) Finance minister Nirmala Sitharaman said the government was talking to “companies of stature and size” who had left China to woo them to set up base or relocate here and was in possession of “very reliable intelligence that they will indeed choose India”. Considering that Vietnam has emerged as an attractive investment destination for multinational firms, she said the east Asian country, too, had certain limitations like the saturation in its labour market. “I am keeping in mind (Vietnam’s) limitations to (hardsell) ourselves (as) attractive destination for investors. So, we are factoring in many things, based on fairly reliable…