The Union government is aiming to open up around 500 mineral blocks for auctions, stoking fears of usurping concessions like Reconnaissance Permits (RPs) and Prospecting Licenses (PLs) of existing leaseholders. These cases were saved under Section 10A 2(b) and 2(c) of the Mines and Minerals- Regulation & Development (MMDR) Act. To ensure seamlessness in the mining sector, Finance minister Nirmala Sitharaman recently announced the introduction of Composite Exploration-Cum-Mining-Cum-Production...

The demand for aluminium has condensed sharply following the outbreak of the Covid crisis. The smooth flow of exports has also been dampened due to major contraction in demand. Jindal Aluminium Ltd has abridged production to match this lower demand. Still, the company feels it is better placed than most of the competitors in extrusions and rolling space. Pragun Jindal Khaitan, Managing Director, Jindal Aluminium Limited tells Jayajit Dash how the company’s factories are well-positioned to...

Indian solar power continues to draw foreign capital as plunging tariffs offer ample opportunities to invest in clean, zero-emissions energy sources. A study jointly commissioned by US-based think tank Institute for Energy Economics & Financial Analysis (IEEFA) and JMK Research & Analytics shows that the current solar tariffs hovering at Rs 2.50-2.87 per unit is 20-30 per cent cheaper than the cost of power generated by existing thermal power stations. Also, the prevailing cost of solar power...

With the Covid-19 pandemic crippling collections of states, their GST (Goods & Services Tax) requirement is projected to swell to Rs 4.1 trillion in this fiscal, equivalent to 2.1 per cent of the country’s estimated GDP. The total GST compensation for FY20 was estimated at Rs 1.7 trillion or 0.8 per cent of the GDP in FY20. Of this, the Government of India (GoI) released Rs 1.2 trillion to the state governments in that year, leaving an unpaid balance of Rs 505 billion for FY20. “Moreover, we...

For Vehant Technologies, a start-up incubated by Indian Institute of Technology (IIT) Delhi in 2005, the Covid-19 pandemic has spurred innovation that prepares the governments and industries to face a ‘new normal’. Known to be a pioneer in Artificial Intelligence (AI) based solutions, the start-up has sensed an opportunity in the ‘colossal crisis’. “Over the last three months, we have developed solution for AI based automated temperature monitoring. It combines thermal camera and visual...