VIVA “The Pinnacle” Economy Government plans funding for thermal and hydro power plants worth over Rs 6 lakh crore •The government is working on big-ticket financial package for about 1,30,000-mw thermal and hydro power plants worth over Rs 6,00,000 crore that are hit by severe funds crunch while continuing to face cost and time overruns. Competition Commission of India recovers just Rs 1,000 crore of Rs 12,000 crore penalties so far •Competition Commission might have slapped penalties close to Rs 12,000 crore on entities violating fair trade norms but the regulator has so far managed to recover less than one-tenth of the total amount. OECD ups India’s growth forecast for FY16 to 6.6 per cent •The Organisation for Economic Cooperation and Development has increased its growth forecast for India in 2015-16 to 6.6 per cent, a five-year high, but said the country will need sweeping structural reforms — including some proposed by Prime Minister Narendra Modi — to achieve high growth levels of the past decade. Capital Market Tata Power awaits APTEL & SC order to implement CERC tariff •The Supreme Court in August 2014 had stayed an order by the APTEL allowing Tata Power Co. Ltd and Adani Power Ltd to charge higher prices for electricity produced from their plants in Mundra, Gujarat. TRAI recommends online registration system for platform services •To create a regulatory framework for platform services offered by Distribution Platform Operators (DPOs), broadcasting sector regulator TRAI has recommended that I&B ministry should establish a simple online registration system for such services. International China Nov flash PMI falls;output shrinks 1st time in 6 mths •Growth in Chinas immense factory sector stalled in November, with output contracting for the first time in six months, a private survey showed on Thursday, adding to signs that the worlds second-largest economy may still be losing traction. Currency Rupee tumbles to nine-month low, tracking broad dollar strength •The rupee slumped to its lowest level in nine months on Thursday, tracking the dollars strength against major currencies and other Asian peers, while state-owned banks dollar demand for Iran oil payments also weighed. Commodity Six traders account for 40% of Indias total gold imports •Just six gold traders accounted for as high as 40 percent of total gold imports to India during April-September, according to a government analysis. Of the six top gold importers, three are based out of Mumbai and the others have head offices in Bangalore, Haryana and Delhi.
Posted on: Thu, 20 Nov 2014 05:37:48 +0000
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