Wednesday, October 21
Adani Energy Solutions Ltd, India's largest electricity transmission and distribution company, has won two new transmission projects, helping swell its order book to Rs 54,700 crore -- more than three times of the work order it had at the start of current fiscal in April 2024. In October-December 2024 -- the third quarter of the fiscal year April 2024 to March 2025 (FY25), won two new transmission projects worth Rs 28,455 crore in Rajasthan, related to the renewable energy park, Jefferies said in a report. The orders include the 25,000-crore Bhadla-Fatehpur HVDC project, which is AESL's largest order win till date. These order wins have pushed up the company's market share in TBCB (tariff-based competitive bidding) orders to 24 per cent, from 17 per cent in the second quarter. AESL's c
India’s fiscal deficit had shot up to a record high of 9.2% of gross domestic product (GDP) in fiscal 2021 in the aftermath of the Covid-19 pandemic. Bringing it down from that highpoint to 5.6% last fiscal was no mean feat.The Centre aims to yank it down further to 4.9% this fiscal and to ~4.5% by next.Given the sluggish economic conditions, continuing to aggressively lower the number won’t come easy. But fiscal consolidation must continue in order to reduce the government’s debt burden.The central government’s debt-to-GDP ratio as per this fiscal’s budget is 56.9%. Add sub-national government debt and the figure balloons to 80% — way higher than the Fiscal Responsibility and Budgetary Management target of 60% (the target is 40% for the centre).The pandemic bumped up the Centr
With Donald Trump set to take over as the US President, all eyes will be on the defence relationship with India. Some high-value Indo-US deals have reached a critical point and major acquisitions are in the pipeline.During his last term as the US President, India and the US had pledged to deepen defence and security cooperation by collaborating on co-development and production of advanced military systems. While some success has been made on this front, no major co-production project has yet taken off.One of the first challenges will be to ensure that a deal for technology transfer and production of fighter jet engines in India takes off despite some last-minute speed bumps. India and the US have agreed on the production of GE414 engines locally, with 80% technology transfer.However, in re
In a major relief to over 65 million subscribers of the Employees’ Provident Fund Organisation, the retirement fund body has streamlined and fast-tracked the process for transfer of provident fund dues from one organisation to another and simplified the joint declaration process for correction in personal information of its subscribers. “The above two reform measures at EPFO are aimed at significantly improving the ease of living for EPFO subscribers while enhancing the ease of doing business for employers,” labour and employment minister Mansukh Mandaviya said on Saturday. Under the simplified process for transfer of PF, members with fully compliant e-KYC can file their online transfer claims with Aadhaar OTP directly with EPFO without any need for intervention by the employer. At p
