Energy Sector:
The Indian government has extended its directive for imported coal-based power plants to operate at full capacity until February 28, 2025. This decision impacts major companies like Tata Power, Adani Power, and Vedanta, which collectively contribute nearly 16 gigawatts of annual capacity. The extension aims to address a recent decline in coal-fired power output and a significant reduction in thermal coal imports.
Economic Growth:
The Reserve Bank of India (RBI) anticipates an acceleration in the country's economic growth during the October 2024 to March 2025 period. This optimism is driven by robust domestic private consumption and a sustained revival in rural demand. The RBI notes that strong festival sales and increased rural demand have contributed to a recovery from the previous slowdown. However, the central bank cautions that unchecked inflation could pose risks to the real economy, particularly in industry and exports.
Space Industry:
In a move to reduce dependence on foreign data for critical applications, India's space regulator has received proposals from 30 companies to build and operate Earth observation satellite constellations. This initiative represents a significant public-private partnership aimed at enhancing the country's capabilities in areas such as defense and infrastructure management. Participants include startups like Pixxel and SatSure, as well as established firms such as Tata Advanced Systems.
Cricket:
The Indian cricket team is currently engaged in the Boxing Day Test against Australia, with the series tied at 1-1. Notably, 21-year-old batsman Nitish Kumar Reddy scored his maiden Test century, stabilizing India's position after early setbacks. Additionally, there are retirement speculations surrounding veteran players, with attention focused on senior members like Rohit Sharma, Virat Kohli, and Ravindra Jadeja. Sharma, in particular, is under scrutiny due to recent performance issues and potential injury concerns.
These developments highlight the dynamic nature of India's progress in energy, economy, space technology, and sports as the year concludes.