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Industry > Industry monitor > Healthcare PM reviews situation as country sees record on-day spike of 1.03 lakh Covid-19 cases 05 April 2021 Prime Minister Narendra Modi on Monday held a high-level meeting to review the Covid-19 pandemic situation and vaccination programme in the country, as the number of new coronavirus cases reported in the past 24 hours rose to 1,03,558.  This is the biggest one-day spike in Covid-10 cases in the country ever since the pandemic began. This takes the tally of reported coronavirus cases in the country to 1,25,89,067. The death toll has increased by 478 to 1,...

Economy > Government 01 April 2021 The government will auction Rs7,24,000 crore ($99 billion) of bonds in the six months to September, or about 60 per cent of the full-year target for fiscal 2021-22, economic affairs secretary Tarun Bajaj said. That compares with 60 per cent to 65 per cent of total bonds the government usually issues for the period. While the announcement of the fiscal first-half borrowing plan is largely in line with expectations, the bond market, which is facing near-record debt sales, will have to contend with a large supply of bonds in the fiscal year starting April, whic...

Finance > Financial services Carlyle in talks to acquire Occidental's Ghana oilfields: report 05 April 2021 Boru Energy, an acquisition vehicle set up by private equity giant Carlyle Group in association with with Aidan Heavey and Tom Hickey, is reported to be in discussions with Occidental Petroleum to acquire its oil and gas assets in Ghana for over $500 million. The acquisition of Occidental’s stakes in the offshore Jubilee and Tweneboa Enyenra Ntomme (TEN) fields, is the first investment by Boru Energy since its launch in October 2019.  Occidental holds 24 per cent stake in Jubilee and...

Industry > Industry monitor > Power 05 April 2021 National Thermal Power Corporation (NTPC) is setting up a 100 MW floating solar power project at its Ramagundam thermal power plant reservoir, in Telangana, so far the biggest floating solar power plant in India. The project, which is estimated to cost around Rs423 crore, will have 4.5 lakh photovoltaic panels, covering 450 acre area of the reservoir. The plant area can be expanded in the future. The floating solar power project is aimed at reducing NTPC’s carbon footprints and accelerate its green energy production to 30 per cent of its tot...

Economy > Economy - general 05 April 2021 In a year marred by the economic despair caused by the Covid-19 pandemic, Khadi and Village Industries Commission (KVIC) has recorded its best ever performance in job creation under the Prime Minister’s Employment Generation Programme (PMEGP).  In financial year ending 31 March 2021, an year of despair arising from the pandemic and the nationwide lockdown, KVIC disbursed Rs2,188.78 crore to create a whopping 5,95,320 jobs under PMEGP, the highest ever since its launch in 2008. In 2020-21, KVIC also established 74,415 projects across the country. MS...