India’s core industrial output up 11.6% in August
A strong demand rebound along with the diminishing impact of COVID accelerated the output of India’s eight major industries in August on a month-on-month as well as on a year-on-year basis.
The Index of Eight Core Industries (ICI) readings for the last month showed a growth of 11.6% as compared to the 6.9% decline in output during the same month last year. The growth during July stood at 9.9%.
The ICI index comprises of coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
Power Ministry redesigns renewable energy certificate mechanism
The Power Ministry announced the redesign of the renewable energy certificate (REC) mechanism which would remove the floor as well as forbearance price limits for these instruments.
The Ministry added that the intent behind the decision is to align the mechanism with the emerging changes in the power scenario and to promote new renewable technologies.
The proposed changes will provide some flexibility to the players, additional avenues, rationalization and also address the REC’s validity period uncertainty issues.