Coal India Limited (CIL) has successfully secured its first domestic critical mineral asset, emerging as the preferred bidder for the Khattali Chotti graphite block in Alirajpur district, Madhya Pradesh. This milestone was achieved during the tranche two forward auction held on July 9 by the Ministry of Mines. This venture marks CIL’s initial foray into…
India’s coal production in June 2024 recorded a significant year-on-year increase of 14.5%, reaching 84.63 million tonnes (MT), up from 73.92 MT in June 2023. During the same period, Coal India Limited (CIL) achieved a coal production of 63.10 MT, marking an 8.87% growth from 57.96 MT in the previous year. Coal production from captive…
The gross non-performing assets (NPAs) of commercial banks have decreased to twelve-year low of 2.8 percent in March 2024 and may decrease further to 2.5 percent by the end of the current fiscal year, according to the Reserve Bank of India’s (RBI) Financial Stability Report (FSR). The gross non-performing assets (GNPA) ratio of Scheduled Commercial…
The provisional figures for Direct Tax collections in the Financial Year (FY) 2023-24 reveal that net collections have reached Rs. 19.58 lakh crore, marking a significant increase from the Rs. 16.64 lakh crore collected in FY 2022-23, which represents a growth of 17.70%. The Budget Estimates (BE) for Direct Tax revenue in the Union Budget…
Fossil fuel consumption in India increased by 8% in 2023, accounting for nearly all the demand growth and maintaining a dominant share of 89% in the country’s overall energy consumption, according to a report by the Energy Institute (EI). The EI report, produced in collaboration with KPMG and Kearney, highlights that for the first time,…
India will remain the fastest-growing major economy, recording a steady growth rate of 6.7 percent over the next three years, including the current financial year, according to a recent World Bank report. The report estimates India’s growth for the fiscal year 2023/24 (April 2023 to March 2024) at 8.2 percent, which is 1.9 percentage points…
India’s GDP growth remains robust, driven by solid investment demand and supported by the healthy balance sheets of banks and corporations, according to the Reserve Bank of India (RBI). The central bank’s Annual Report for 2023-24, released on Thursday, also attributes this growth to the government’s focus on capital expenditure and prudent monetary, regulatory, and…
Oil and Natural Gas Corporation (ONGC) Limited is poised to throttle back on its deleveraging efforts over the next 12-24 months, diminishing the wiggle room for the state-owned entity’s standalone credit profile of ‘bbb+’, according to S&P Global Ratings’ announcement. The heightened investment trajectory at ONGC is anticipated to decelerate its deleveraging momentum over the…
NTPC Ltd declared its financial results for the fiscal year 2023-24, reporting a significant increase in electricity generation and profitability. The company, India’s largest integrated power utility with an installed group capacity of 76,015 MW, achieved its highest-ever annual electricity generation of 422 Billion Units in FY24, up by approximately 6% from 399 Billion Units…
The Reserve Bank of India (RBI) will pay a record dividend of Rs 2.1 lakh crore to the government for the fiscal year ended March 31, surpassing budgeted expectations and providing a significant boost to revenue as a new government prepares to take office. At its meeting on Wednesday, the RBI board approved the transfer…
