A new ordinance will stop a majority of promoters from bidding for their own stressed assets, but may result in lower revenue for lenders.
While India’s coal imports have dropped 12% over the last three years, as the Modi government pursues a domestic strategy, they have picked up in recent times and are likely to continue to rise.
Developed countries want to include new issues like e-commerce, investment facilitation and government procurement in the discussion.
Coal and railway minister Piyush Goyal has remained curiously silent, even though the current crisis has been sparked by the railways’ failure to transport adequate amounts of coal.
While investors have given a thumbs-down to the deals as they would add to the PSUs’ loan burden, they will likely help the heavily-indebted Adani group secure bank loans and make future investments.
In its quest to reduce electricity tariffs, the state appears to be getting support from UP’s electricity watchdog whose behaviour is not in line with its duty to act as an unbiased adjudicator in disputes between discoms and generators.
While Tata Trust officials had raised concerns over the acquisition, Welspun Renewables’s robust earnings are now starting to partially offset the losses being racked up by the imported coal-based Mundra power plant.
Although the state-run power sector lender doesn’t follow RBI guidelines on loan restructuring norms yet, the CAG has in the past pointed to gaps in its due diligence process.
While digital transactions have started ebbing, with cash remaining king in the real estate sector, what has been hit are new investment proposals and the informal economy in general.
Hitting Rs 2.22 lakh crore at the end of March 2016, the debt has risen due to the rising costs of Gujarat’s infrastructure projects and ill-advised investments in state-owned companies and statutory corporations.
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While Gujarat’s IMR reduction has been better than the national average, it stacks up unfavourably when compared to other affluent states like Maharashtra and Punjab or even ‘special category’ states like Himachal Pradesh and Jammu and Kashmir.
While ministries and Central government institutions have enthusiastically pushed khadi and khadi products, the actual sales figures haven’t quite touched the numbers touted by the prime minister in his latest Mann Ki Baat address.
Modi, while inaugurating a RoRo ferry service in Gujarat, said it was the first of its kind. But RoRo vessels have been used by companies to move cars, coal and fertiliser across the country for some time now.
Amid an emerging crisis triggered by a fall in hydel and nuclear power generation, the coal ministry is continuing to discourage imports in an effort to defend its narrative of surplus coal availability.
At a recent top-level meeting, it was mooted that a change in the ‘power surplus’ narrative would help in tackling India’s abnormally low capacity utilisation levels.
Growth in bad loans raises questions about due diligence measures followed by renewable energy, power PSUs over last five years.
Changes to GST rates may open a Pandora’s box, while the jewelry-PAN decision sees the government walking away from its fight against black money.
Over the last decade, Bangladesh and Vietnam have eaten India’s lunch when it comes to everything, from apparels to furniture.
Thanks to the uneven utilisation of funds, actual spending on amenities like foot overbridges has seen negative growth in recent years.
Free electricity connections for the poor have been part of the Centre’s electrification programme since the UPA regime, though the prime minister has tried to sell it as new.
Nearly 50% of the $44 billion that came in as foreign direct investment inflows in 2016 went towards brownfield projects.
From ruling out competitive bidding to fighting against low-cost airlines, there are many economic factors that will determine the success of the project.
In the last year, the Centre has moved to swiftly clamp down on Chinese steel imports to help NPA-laden Indian firms. However, China’s own capacity cutbacks have rendered this move meaningless.
Taxes currently constitute 45%-52% of the retail price of auto fuels, far higher than what would it be if petrol and diesel was brought under the Goods and Services Tax regime.
Exports from labour-intensive industries have either showed outright declines or reported anaemic growth. This is an ominous sign for job creation in India.
Falling capacity utilisation of power plants is a clear indicator that electricity demand has sagged under the NDA regime, raising a question mark over the efficacy of UDAY and other power sector reform measures.
While firms in the FMCG and auto sectors have done well, certain power, steel and telecom companies – where access to natural resources and political connections are crucial to success – have performed horribly.