Category: Business & Economics

Collaborative efforts between the Ministry of Steel and Ministry of Coal have yielded positive outcomes to enhance domestic Coking Coal availability and minimize import reliance. Domestic raw Coking Coal production is projected to reach 140 MT by 2030, yielding about 48 MT of usable Coking Coal after washing. Coking Coal, vital for steel production, has experienced increased availability, which is crucial for maintaining the momentum of industrial growth driven by steel production in the country. The Ministry of Coal launched “Mission Coking Coal” in FY’22 to address the growing domestic…

The Prime Minister, Shri Narendra Modi has taken decision of reducing LPG cylinder price by 200 rupees per cylinder for all LPG consumers i.e 33 crore connections. Shri Modi said that the festival of Raksha Bandhan is a day to enhance happiness in our family. PM Ujjwala Yojana consumers will continue to get the subsidy of ₹200/cylinder in their accounts. Government has also approved 75 lakh additional PM Ujjwala connections, which will take total PMUY beneficiaries to 10.35 crores. Responding to X threads of Union Minister for Petroleum and Natural…

In order to enhance financial literacy among school students, the Reserve Bank of India (RBI) organised third zonal level round of the All-India Quiz on Financial Literacy that saw the participation of state level winners of Delhi, Jammu & Kashmir, Ladakh, Uttarakhand and Uttar Pradesh, here today. The quiz was first organised at the block level and then district and state levels in which students of class VIII, IX and X of government schools were encouraged to participate to generate more interest in the area of financial literacy and awareness.…

In a major development in PM GatiShakti Rail Corridor Projects in Chhattisgarh, Rupee Term Loan documents were executed between the Central Bank of India under sole banking and the promoters, i.e., South Eastern Coalfields Ltd (SECL), Ircon International Limited (IRCON), CSIDC and CERL, here today, towards development of Phase-II of Chhattisgarh East Railway Limited (CERL). The total debt exposure in this financial contract will be of Rs. 1349.00 crore. This concludes the documentation process of achieving financial closure of the project, which is a major milestone. Chhattisgarh East Railway Limited…

RIL Board recommends the appointment of Isha Ambani, Akash Ambani, and Anant Ambani on the Board of Directors.  Isha Ambani, Akash Ambani, and Anant Ambani will act as Non-Executive Directors of the Company.  Reliance ushered in a new era of leadership   Nita Ambani stepping down from the board of directors and making way for her children   Mukesh Ambani is the chairman of Reliance Industries Limited (RIL).  Isha Ambani, Akash Ambani, and Anant Ambani are set to be appointed non-executive directors of the oil-to-retail conglomerate, pending approval by its…

National Institute of Electronics & Information Technology (NIELIT), an Autonomous Scientific Society under the Ministry of Electronics and Information Technology, Government of India, organised NIELIT Job Fair 2023 “Yuva Rojgar Manch”- Sashakt Yuva, Sashakt Rashtra in association with Directorate General of Employment (DGE), Ministry of Labour & Employment, Government of India for NIELIT students as well as for Persons with Disabilities (PwD) on 24th and 25th of August, 2023, at National Career Service Centre, Karkardooma, Vikas Marg, New Delhi. The Director General, NIELIT, Dr. Madan Mohan Tripathi inaugurated the event by lightning…

India is expected to ban mills from exporting sugar in the next season from October.  Due to low cane yields caused by a lack of rain, India is anticipated to forbid mills from exporting sugar.  Monsoon rains in the top cane-growing districts of the western state of Maharashtra and the southern state of Karnataka, have been as much as 50% below average so far this year.  India’s exclusion from the global market would probably push up benchmark prices in New York and London.  India’s sugar production could fall 3.3% to…

Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy, Government of India. The MoU, in alignment with guidelines issued by Department of Public Enterprises, Ministry of Finance, outlines strategic targets that IREDA aims to achieve during the fiscal years 2023-24 and 2024-25. As per the MoU, the Government of India has set a Revenue from Operations target…

India to export wheat from Russia to curtail inflation.  India’s wheat production had fallen to 107.74 million tonnes in the 2021-22 crop year (July-June) from 109.59 million tonnes in the previous year.  Wholesale wheat prices in India rose by about 10% to a seven-month high in August due to limited supplies.  India last purchased 5.3 million tonnes of wheat from Russia in 2017.  Last year, the government banned wheat exports to boost domestic availability and rising prices in the retail markets. India is reportedly in talks with Russia to import…

Footwear manufacturer Bata India is in talks with sportswear giant Adidas for a strategic partnership.  Through the collaboration, Adidas is likely to use Bata India’s retail network to boost its presence in India, the report added.  Bata India, the flagship of Netherlands-based Bata BN, has more than 2,050 stores across the country.  The corporation is one of the world’s leading shoemakers by volume with 150 million pairs of shoes sold annually.  The talks with Adidas are likely at an advanced stage with final deal contours in the works, a media…