Daily News - Thursday, 30 January 2025
CCEA approves hike in ethanol procurement price (The Hindu)
The Cabinet Committee on Economic Affairs (CCEA) has revised the ethanol procurement price for public sector oil marketing companies (OMCs) from ₹56.58 per litre to ₹57.97 per litre for the Ethanol Supply Year 2024-25 (November 1, 2024 – October 31, 2025) under the ethanol-blended petrol programme. The government aims to promote ethanol production from C Heavy Molasses (CHM), benefiting farmers and the environment while ensuring price stability and reducing dependence on crude oil imports. With a 3% price increase for CHM ethanol, the move is expected to secure sufficient ethanol supply to meet the country’s rising blending targets, supporting energy security and foreign exchange savings.
₹100-cr credit guarantee scheme for MSMEs (Financial Express)
The government has approved the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME), offering up to ₹100 crore in guaranteed loans for plant, machinery, and equipment purchases, with 60% guarantee coverage by the National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions. The scheme, applicable for four years or until ₹7 lakh crore in guarantees are issued, features up to 8-year repayment terms, a 2-year moratorium for loans up to ₹50 crore, and a gradually increasing annual guarantee fee after the first year. With the manufacturing sector currently contributing 17% to GDP and employing 27.3 million workers, the government aims to raise its share to 25%, reinforcing its commitment to industrial growth and economic expansion.
Odisha govt inks investment pacts worth ₹13 lakh cr (Financial Express)
Odisha secured investment commitments worth ₹12.89 lakh crore at the Utkarsh Odisha - Make in Odisha Conclave 2025, surpassing its initial estimate of ₹5 lakh crore, with 145 MoUs signed across key sectors like chemicals, textiles, mining, and renewable energy. These investments are projected to generate 0.89 million jobs, alongside 448 additional investment intentions valued at ₹3.84 lakh crore, potentially creating 0.39 million jobs, and reinforcing Odisha’s industrial and socio-economic growth. With delegates from 16 countries, including partner nations Singapore, Malaysia, and Australia, Odisha is positioning itself as a key player in India’s Purvodaya vision, aiming for a globally competitive industrial base and aligning with Viksit Bharat 2047.
NHPC, Andhra govt partner for 6-8 Gw pumped storage projects (Business Standard)
India’s largest state-owned hydropower producer, NHPC Limited, has partnered with the Andhra Pradesh government to develop pumped storage projects (PSPs) with a potential capacity of 6-8 GW, starting with two projects totalling 2 GW under the joint venture ANGEL (APGENCO NHPC Green Energy Company). These PSPs will integrate solar power for energy-efficient water pumping, and NHPC is also negotiating with states like Maharashtra, Gujarat, and Madhya Pradesh to expand its PSP portfolio to 15-16 GW, including projects in Indirasagar, Omkareshwar, and Sardar Sarovar dams. With PSPs receiving a policy push in the Union Budget and ₹12,461 crore allocated for hydropower infrastructure, these projects are set to play a key role in India’s energy transition by offering a cost-effective alternative to large-scale batteries for grid stability.
‘India needs monetary, fiscal policy changes’ (mint)
Moody’s Analytics projects India’s GDP growth to slow to 6.4% in 2025 from 6.8% in 2024 amid a weakening rupee, declining foreign investment, and volatile inflation, necessitating fiscal and monetary policy adjustments in the first half of the year. The 2025-26 Union Budget is expected to focus on boosting domestic investment while targeting a fiscal deficit below 4.5% of GDP, down from 5.6% in 2023-24 and an estimated 4.9% in 2024-25. With the rupee hitting a record low of ₹86.6 per dollar in mid-January due to Federal Reserve policy shifts and investor sell-offs, external challenges like potential U.S. tariffs on Indian exports could further weigh on economic growth.
