Daily News - Tuesday, 15 October 2024
Green energy capacity tops 200 GW so far (Financial Express)
India’s renewable energy capacity has surpassed 200 GW as of October 2024, accounting for 46.3% of the country’s total electricity generation capacity, which stands at 452.69 GW. Solar power leads the renewable sector with 90.76 GW, followed by wind power at 47.36 GW, hydroelectric power at 46.92 GW, and smaller contributions from bioenergy. India aims to expand this further to 500 GW by 2030 as part of its drive to build a robust, diverse, and sustainable energy base.
Sept. wholesale food prices leapt 9.5% (The Hindu)
India’s wholesale inflation rose to 5.5% in September 2024, driven by a sharp 49% surge in vegetable prices, with potatoes, onions, and tomatoes witnessing the steepest increases. Food inflation hit a two-year high of 9.5%, while pulses and fruit inflation remained elevated at 13% and 12.2%, respectively. Despite rising food costs, the Wholesale Price Index (WPI) saw only a mild overall uptick, as fuel and power prices dipped over 4% and manufactured products inflation eased slightly; however, economists expect inflation to rise further in October due to increasing oil and commodity prices amid geopolitical tensions.
India Inc to spend $800 bn in 10 yrs (Financial Chronicle)
Indian conglomerates are set to nearly triple capital spending to $800 billion over the next decade, with 40% focused on new industries like green hydrogen, clean energy, semiconductors, and electric vehicles, according to S&P Global. Major business groups like Adani, Reliance, and Tata will invest around $350 billion in these sectors, aligning with India’s broader vision to reduce dependence on fossil fuels and aim for net zero by 2070. However, these investments come with risks, as companies will face execution challenges and rising debt, requiring them to strengthen core businesses to maintain financial stability.
Regulator ups ceiling price of 8 key drugs by 50% (mint)
The National Pharmaceutical Pricing Authority (NPPA) has approved a 50% increase in the ceiling prices of eight essential drugs used to treat conditions like asthma, tuberculosis, glaucoma, and mental health disorders. These drugs, crucial to public health programs, include formulations such as Benzyl Penicillin, Salbutamol, and Lithium tablets. The decision, taken on October 8, was in response to manufacturers’ requests, citing rising production costs, higher ingredient prices, and exchange rate fluctuations. The NPPA has previously allowed similar price hikes in 2019 and 2021, following the guidelines of the Drugs Prices Control Order (DPCO), 2013.
Govt working on nat’l scheme for power distribution (mint)
The Central Electricity Authority (CEA) is developing a national power distribution scheme, aiming to create 600 GW of renewable energy capacity by 2032 to meet India’s rising electricity demand. By 2047, peak power demand is expected to reach 708 GW, requiring 2,053 GW of installed capacity, about three times the current demand. The CEA’s national transmission plan, which targets 500 GW of non-fossil fuel energy capacity by 2030, presents an investment opportunity of ₹9 trillion, with ongoing government efforts to improve rural and urban electricity distribution through financial assistance and interest subsidies.
