Somewhere in September last year, about 80% of our country’s coal-fired plants had a scary moment. They were left with less than a week worth of coal stock, against the recommended reserve of 15 to 30 days. It led to the Prime Minister’s intervention, and an impending crisis was averted. But, according to a Business Standard report, we are again staring at a somewhat similar situation. Coal not just gives us electricity, it produces billionaires too. According to some reports, coal mining tycoon Gautam Adani became Asia’s richest man for a short while, surpassing Mukesh Ambani -- the chairman of Reliance Industries Ltd. So what is behind Adani’s success, what explains his meteoric rise? Fortune is indeed favouring him.
Shares of Adani Wilmar -- the flagship consumer goods entity in Gautam Adani’s stable -- hit another 20% upper circuit on Wednesday. Meanwhile, as economic recovery gains ground, global central banks, including the Reserve Bank of India, have their task cut-- to gradually withdraw the liquidity support. However, 10-year bond yields have been rising since the December policy meeting, picking pace after the Budget announcement. On the other hand, tightness in liquidity has led to some short-term market rates rising above the Repo Rate. This nervousness in the bond markets could make Shaktikanta Das’s task even more challenging. After the markets, let us see how technology is making our lives better. Very soon, you may be able to make digital payments up to a certain amount without an active internet connection. Let us find out how and more in this episode of the podcast.
Watch video
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU