Learning from global experience: Creating carbon markets for India
Carbon markets are increasingly the instrument of choice when it comes to market-based solutions for reducing emissions.
Carbon markets are increasingly the instrument of choice when it comes to market-based solutions for reducing emissions.
In 2021-22, total sales of Maruti Suzuki India Ltd (MSIL) increased by 13.4 per cent to 16.52 lakh units. It had lost out on sales in the first quarter of the fiscal due to the pandemic and production being affected by the shortage of semiconductors, mainly for domestic models, Bhargava wrote.
A standalone net loss of INR 10,196.94 crore during April-June compares with a net profit of INR 1,795 crore in the same period a year back, according to a company's filing with the stock exchanges.
The country's foreign exchange reserves rose by $2.315 billion to $573.875 billion during the week ending June 29, according to the Reserve Bank of India's (RBI) weekly supplementary statistical data.
As per a government official who attended the meeting, the minister asked industry to become competitive and not depend on subsidies.
In a written reply to a question in the Rajya Sabha, Minister of State for Heavy Industries Krishan Pal Gurjar informed that the highest number of electric vehicles in India is three-wheeler. The total number of three-wheeler stands at 7,93,370. Total number of two-wheeler stands at 5,44,643. The number of four-wheeler and above stands at 54,252 as on 3rd August 2022.
If the current pace of around $6 billion weekly decline does not stop, India's foreign reserves could drop by $100 billion in just four months
The partially convertible rupee closed up 0.3% to 79.23 per U.S. dollar, having jumped to 78.94 in the session. A rebound in the greenback late in the day weighed, with the rupee ending a volatile week little changed.
The repo rate is now back to the pre-pandemic levels, highest since August 2019, RBI Governor Shaktikanta Das said.
The updated NDC proposes about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, dropping the 500 GW absolute target committed at COP26.
This is a first such initiative by a state, under the World Economic Forum-Moving India network, on 'Shaping the Future of Mobility', according to AP Industries and Investment Minister Gudivada Amarnath.
Russian barrels were cheaper than Saudi crude during April through June, with the discount widening to almost $19 a barrel in May, according to Bloomberg calculations based on Indian government data. Russia surpassed the kingdom as the second-biggest supplier to India in June, ranked just behind Iraq.
While the hike in policy interest rates is almost certain, analysts and economists have different opinions on the extent of the rate hike. It varies between 25 basis points to 50 basis points.
The partially convertible rupee was trading at 79.44 per dollar by 0504 GMT, having weakened up to 79.54 during the session, and hovered near levels it hit last week. The unit closed at 79.16 on Wednesday.
Fiscal deficit for Q1 FY23 has reached 21.2% of the annual target compared to 18.2% in Q1 FY22. Tax revenue has been robust with record high GST revenues which have been possible because of increased compliance and higher economic activity.
India, Thailand and Korea have seen their reserves drop by a combined $115 billion this year as they sold dollars to curb currency declines. While most central banks in Asia are also raising rates, economists see this aimed more at tamping down inflation than narrowing the rate differential with the Federal Reserve.
Vinkesh Gulati, President, FADA said, “July is generally considered as a lean month before festival season hits in August. When compared with July’19, a pre-covid month, total vehicle retails fell by 20%. PV and Trac continued to outperform by growing 19% and 7%. All the other categories were in red with 2W, 3W and CV falling by -28%, -15% and -4% respectively.”
Trade deficit in Asia's third largest economy, India, widened to an all-time high of $31 billion, data on Tuesday showed, prompting concerns about the country's ability to fund its current account deficit and hurting the outlook for the rupee.
Thirteen of 27 economists surveyed by Bloomberg as of Wednesday see the Reserve Bank of India’s six-member monetary policy committee increasing the repurchase rate by 50 basis points to 5.40%, a level last seen in August 2019.
According to experts, the RBI may go for a 25-35 basis points rate increase for the third consecutive time and likely change its ‘accommodative’ stance. Earlier, the RBI had signaled its decision to withdraw its accommodative stance and shift towards a neutral stance while prioritising controlling inflation over growth.
Name | DIN | Designation | Date of joining | |
---|---|---|---|---|
Sakshi Vij | Unlock to View | Unlock to View | Director | 28 Jun,2019 |
Jaishree Vij | Unlock to View | Unlock to View | Director | 04 Apr,2005 |
Rajiv Kumar Vij | Unlock to View | Unlock to View | Managing Director | 18 Sep,2000 |
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