Indian Economy: News and Discussion

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
29,418
Likes
112,981
Country flag
Ya'll Nibbiars in a one way you can say Mahindra has completely lost the Analysis of the market. Despite being a SUV Leader now it's completely tarnished with the likes of KUV 100 which could been a great products but was weak in exucation. And the XUV 300 hardly had any marketing campagin. What a waste of a product's.
 

doreamon

Senior Member
Joined
Mar 24, 2019
Messages
3,007
Likes
15,162
Country flag
Worlds largest solar park in gujurat to produce 30 gw .


France offer for worlds most powerful nuclear plant in jaitapur . To produce 10gw



That gujurat solar park to produce 30 gw is huge if data is correct . For comparison worlds largest solar park in Bhadla rajastan in india produce 2.2 gw only 😲
 
Last edited:

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
India closer to building world's largest nuclear power plant: French EDF

French state-controlled energy group EDF has made a binding offer to build six third-generation EPR nuclear reactors at Jaitapur in Maharashtra.


EDF says it took a key step in contributing towards building the “world’s most powerful” nuclear plant in India.


On April 22 2021, EDF submitted to the Nuclear Power Corporation of India (NPCIL), the offer to supply engineering studies and equipment for the construction of six, third-generation EPR reactors at the Jaitapur in Maharashtra.

 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
Atal Pension Yojana crosses over 3 crore subscriber base by Mar; 79 lakh new additions in FY21

IBEF: April 23, 2021


On Thursday, the Pension Fund Regulatory and Development Authority (PFRDA) announced that the number of Atal Pension Yojana (APY) subscribers had surpassed three million by the end of March 2021, with > 79 lakh new subscribers joining the scheme in 2020-21.

In FY21, > 79 lakh new Atal Pension Yojana (APY) subscribers joined, bringing the overall enrolments to over 3.02 crore as of March 31, 2021, according to PFRDA.

Around 70% of the 3.02 crore accounts opened under APY were opened by public sector banks, while 19% were sourced by regional rural banks.

The rate of enrolment has been encouraging, particularly in the second half of FY21, when it required less than six months to enrol 50 lakh new APY subscribers, bringing the total number of APY subscribers to 3 crore from 2.5 crore, according to PFRDA.

SBI accounted for 28% of the 79.14 lakh new additions in FY21, or 22.07 lakh subscribers, led by Canara Bank and Indian Bank, which accounted for 5.89 lakh and 5.17 lakh subscribers, respectively.

Between 1 and 5 lakh new APY accounts were opened by Bank of Baroda, Airtel Payment Bank, Bank of India, Central Bank of India, Punjab National Bank, Union Bank of India, Indian Overseas Bank, Axis Bank, HDFC Bank, Aryavart Bank, and Baroda UP Bank in 2020-21.

SBI, Indian Bank, Bank of India, Vidarbh Konkan Gramin Bank, Jharkhand Rajya Gramin Bank, Karnataka Gramin Vikas Bank, and Tripura Gramin Vikas Bank all performed good.

The Uttarbanga Kshetriya Gramin Bank, Asaam Gramin Vikas Bank, Bangiya Gramin Vikas Bank, Aryavart Bank, and Tamilnad Mercantile Bank all performed well this year, exceeding the goals allocated by the Department of Financial Services, Ministry of Finance.

As of March 31, 2021, over 20 lakh APY subscribers had been enrolled in 5 states, according to the scheme's state-by-state rollout.

According to the PFRDA, Uttar Pradesh leads with 45.4 lakh APY enrolments, followed by Bihar with 28.22 lakh, West Bengal with 23.92 lakh, Maharashtra with 23.17 lakh, and Tamil Nadu with 22.57 lakh APY enrolments so far.

By the end of March 2021, Andhra Pradesh, Karnataka, Madhya Pradesh, Rajasthan, Gujarat, and Odisha had enrolled between 10 and 20 lakh people in the APY.

Furthermore, the regulator stated that over the last six years, the preference for a monthly pension of Rs. 1,000 (US$ 13.31) has increased.

As of March 31, 2021, about 77% of APY subscribers had chosen a Rs. 1,000 (US$ 13.31) monthly pension amount, compared to 38% who had chosen a Rs. 1,000 (US$ 13.31) monthly pension amount as of March 31, 2016, according to the statement.

According to the PFRDA, the gender gap in APY subscription has narrowed as female subscribers have increased.

Between 2016 and 2021, the percentage of female subscribers increased from 37% to 44%.

The age profile of APY subscribers also shows a pattern of younger enrolment, according to the regulator.

More than 43% of subscribers enrolled on March 31, 2021, were between the ages of 18 and 25, up from 29% on March 31, 2016.

PFRDA has announced new measures, including the addition of new functionality to the APY mobile app and their availability in the UMANG app, as well as the updating of APY FAQs, APY Subscriber Information Brochure, and APY Citizen Charter, all of which are available in 13 regional languages.

These are aimed at increasing APY scheme awareness and benefiting both APY customers and APY service providers.

The government's two flapship pension schemes, NPS and APY, are administered by the authority.

APY went into effect in June 2015 in order to establish a universal social security system for all, especially the poor, disadvantaged, and unorganised sector employees.



After reaching the age of 60, subscribers can receive a monthly pension ranging from Rs. 1,000 (US$ 13.31) to Rs. 2,000 (US$ 26.63), Rs. 3,000 (US$ 39.94), Rs. 4,000 (US$ 53.26), and Rs. 5,000 (US$ 66.57), depending on their contribution during the subscription period. APY is open to those between the ages of 18 and 40.

Except for the armed forces, the NPS was implemented in January 2004 as a fixed contribution based pension scheme for union and state government employees, replacing the existing system of defined benefit based pension scheme.

From May 2009, it was voluntarily expanded to all citizens of the country, including self-employed professionals and those in the unorganised market.
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
India's Gas Output To Jump 52% By 2024 Led By ONGC, Reliance-BP

IBEF: April 23, 2021


By 2024, India's natural gas production is expected to increase by 52% to 122 million standard cubic metres per day, as state-owned Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd-BP combine to expand production from the KG basin fields.

According to HDFC Securities, natural gas output in 2019-20 was 85 mmscmd, and it is expected at 80 mmscmd the following year.

As per the estimates. the output is projected to increase in FY22 to 93 mmscmd, 107 mmscmd in the following year and 122 mmscmd in FY24.

The expansion of the output aligns well with the government plans for increasing the share of natural gas in the country's energy sector to 15% by 2030 from the current 6.2% in order to reduce emissions.

ONGC's production is expected to grow to 67 mmscmd in FY22 from 62 mmscmd the previous year. In FY23, this will increase to 69 mmscmd, and 75 mmscmd in FY24.

Non-PSU gas output will rise as a result of the Reliance-BP partnership, which started producing newer fields in their eastern offshore KG-D6 block in December 2020.

Domestic gas demand is expected to rise from 153.8 mmscmd in FY21 (April 2020 to March 2021) to 215.5 mmscmd in 2024-25, according to the study.

India's domestic gas supply is unlikely to fulfil all of the country's needs, so the country imports liquefied natural gas to make up the difference (LNG).

The KGD6 consortium has requested bids from customers in order to sell an additional 5.5 mmscmd of gas from the Krishna Godavari (KG) Basin block off India's eastern coast, according to HDFC Securities.



The extra gas will be available for purchase at the Gadimoga distribution point near Kakinada starting in the last week of April or early May 2021.

NGC has also issued a tender for potential buyers to bid on gas supplies from its KG-DWN-98/2 field off the coast of the KG Basin. The company plans to start supplying 2 mmscmd of gas from the field to the Odalarevu onshore terminal in Andhra Pradesh in June 2021.

This increased gas supply from domestic sources could help Indian gas utilities expand their earnings and valuations.

Tenders for gas from the KG Basin show that domestic gas production is ramping up faster than investors anticipated.

The KG-D6 consortium's and ONGC's tenders to sell gas from the KG Basin support our thesis of increasing domestic gas output. These and previous tenders suggest a complete increase in gas supply from domestic sources of about 20 mmscmd (23% of FY20 domestic supply) between December 2020 and July 2021

The KG-D6 consortium formed a Gas Sales and Purchase Agreement (GSPA) with customers to sell 4.8 mmscmd of gas from the KGD6 Basin in November-19 and 7.5 mmscmd of gas in February-21, respectively.

In December 2020, the consortium started producing gas from R-cluster, an ultra-deep water gas field. The first of the three projects to go operational is R-cluster.

The Satellites Cluster and MJ fields are scheduled to begin development in mid-2021 and 2022, respectively. By 2023, peak gas production from the three fields is estimated to be 30 mmscmd.

ONGC started producing gas from KG-DWN-98/2 in March 2020. In FY22, it is anticipated to exceed 3 mmscmd, and by FY24, it is expected to increase to 15 mmscmd.
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
Forex reserves jump $1.193 billion to $582.406 billion - Times of India

MUMBAI: The country's foreign exchange reserves rose by $1.193 billion to reach $582.406 billion in the week ended April 16, RBI data showed on Friday.
In the previous week ended April 9, the forex kitty had surged by $4.344 billion to $581.213 billion. The reserves had touched a lifetime high of $590.185 billion in the week ended January 29, 2021.

 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
Get LPG cylinder without any address proof, read details of Indian Oil’s offering - Energy News India- Power News India, Energy, Oil and Gas News

Getting an LPG Cylinder has become more hassle free now. This piece of news will be a big relief for those people who might have recently changed their city or are planning to move to a different place, and hence obtaining a new address proof might require some more time.


Indian Oil’s Chhotu, 5 kg FTL (Free trade LPG) cylinder does not require customer’s address proof. Customers can avail Indian Oil’s Chhotu cylinders through Indane distributorships, and other point of sales like IndianOil Retail Outlets, Kirana stores, and local supermarkets.

 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
P&G India sets up solar plant at its manufacturing site in Hyderabad

FMCG major Procter & Gamble (P&G) has commissioned a solar plant at its manufacturing site in Hyderabad, India.


This is P&G’s only the fifth manufacturing site globally to commission in-house solar plant. Spread over 16,000 square meters and comprising nearly 3,000 panels, the in-house solar plant has a capacity of one Megawatt clean energy production and will reduce the company’s carbon footprint by an estimated 1,030 tons annually.


“Increasing our use of renewable electricity and improving energy efficiencies is a critical part of our sustainability journey. We are taking a more deliberate approach to develop and adopt more efficient ways to operate. By commissioning new in-house solar plant, we are making strides to advance progress against these goals,” Sachin Sharma, Plant Head, Hyderabad manufacturing site, P&G India, said.

 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
29,418
Likes
112,981
Country flag
Y'll Nibbiars after seeing the JLR Accounts and statements have to say the conditions are extreme delicate the inflows and outflows are just.
 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
Senior Member
Joined
Aug 10, 2020
Messages
29,418
Likes
112,981
Country flag
That looks pathetic photo shop is Jawa planning to gift him a motorcycle ? or did someone created this fake photoshop pic on Jawa photo frame ?
Ya'll Nibbiars jawa did. Mahindra is acting like a retired president. Sangyong ko be lost. Well its another thing that the sangyong was using the Mahindra as the cash sources but later they under pressure shared many R & D.
 

warriorextreme

Senior Member
Joined
Sep 29, 2010
Messages
1,866
Likes
3,033
Country flag

Premji-backed Gold Plus Glass Industry plans biggest capacity expansion

• Plans to put two float glass lines and one solar glass line with combined installed capacity of approx. 700,000 metric tonnes

• The total project outlay is said to be in tune of INR 2,200 - 2,300 Crores

• In discussion with Government authorities of atleast two Southern states for land allotment and capital/ revenue subsidies

• Targeting revenue of over INR 3,000 crores with this capacity expansion

The company is also setting up a solar glass manufacturing line as part of its planned expansion. Solar glass is used in photovoltaic (PV) panels used to generate electricity. Currently, only 30% of solar glass requirement is produced in India, and with an expansive solar energy target laid out by the Government, this move by Gold Plus should be welcomed by PV panel manufacturers which are also in process of expanding their own capacities. Solar energy is on Government’s top agenda and recently the cabinet approved production linked incentives for PV penal manufacturing to promote domestic manufacturing of panels. Currently, Borosil Renewables Ltd. is the only solar glass manufacturer in the country.
 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
NTPC makes 85 Mw Bilhaur solar project commercially operational - ET EnergyWorld


New Delhi: State-owned NTPC on Monday said the 85 MW solar power project in Bilhaur in Uttar Pradesh is now fully commercially operational. The last leg of 15 MW capacity of the project was commissioned earlier this month.

 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
Old news since 2012


Yamaha to Export 150cc Motorcycles (R15 and FZ-S) from India to Japan

 

sorcerer

Senior Member
Joined
Apr 13, 2013
Messages
26,920
Likes
98,472
Country flag
India in talks with Guyana for long-term crude supply
GEORGETOWN/NEW DELHI : India, the world's third-largest crude consumer and importer, has approached Guyana's government about a possible long-term deal to buy the South American country's oil, a Guyanese official said.


India has expressed interest in buying one of the 1 million-barrel cargoes Guyana's government is entitled to in order to test the crude in its refineries, according to Guyana's Natural Resources Minister Vickram Bharrat. If the crude is compatible, the parties could begin talks on a long-term arrangement.


 

Latest Replies

Global Defence

New threads

Articles

Top