It may also be the case that the reciprocal tariff may come down to the level, which we were earlier anticipating, somewhere between 10-15 percent, he said.
The government will commission 3000 MW of pumped storage projects this year, according to Chairperson, Central Electricity Authority (CEA) Ghanshyam Prasad.
Going ahead, all bids for solar and wind power projects will include a clause for the installation of automatic weather station on the site, the Central Electricity Authority stated in its guidelines.
CEA Nageswaran said manufacturing continues to face global challenges but pointed to domestic policy support aimed at reversing the trend.
The government plans to update its model Bilateral Investment Treaty framework to attract foreign investments while safeguarding regulatory interests
V Anantha Nageswaran has said it is vital for India to sustain growth over the next few years as the world economy faces pressure
He further said that India remained the fastest growing major economy during October-December and the real GDP growth has rebounded in Q3FY25.
Coal-fired power is going to continue to do the heavy lifting by meeting 70-74% of the peak demand this summer. Like last year, the government plans to use state-run gas-based plants too, for which it has issued a tender to procure 1,800 MW of gas-based power. Besides, coal stocks at thermal power plants are at 51 million tons that would last for more than 21 days.
Though, Nageswaran said that the private sector has not been on the sidelines when it comes to investment, he acknowledged that the rate of growth has been somewhat slower than desired levels.
His comments come at a time when there are concerns around a more pronounced slowdown in India’s urban consumption evident from lower sales of passenger vehicles and other key macroeconomic data points.
India’s current growth rate is reflective of these external conditions rather than a domestic economic slowdown.
'Global real economic activity has been declining. There is a slowdown. However, India remains the fastest-growing among large economies of the world, Nageswaran stated
It also pointed out that restrictive trade policies such as European Union's Carbon Border Adjustment Mechanism (CBAM) have the potential to restrict India’s exports and widen the current account deficit at a time when the net foreign direct investment into the South Asian nation is declining.
The Chief Economic Adviser V Anantha Nageswaran's warning around limiting subsidies for EVs comes close on the heels of US President Donald Trump revoking the electric vehicle mandate of his predecessor Joe Biden that aimed to ensure that half of all new vehicles sold in the country by 2030 were electric.
The Economic Survey can be considered as a report card of the financial health of the nation, and offers insights on aspects ranging from growth to trade to external finances.
Nageswaran will on January 31 present his third Economic Survey, a review of the country’s economic performance over the past fiscal
States should monetize their transmission assets by transferring ownership to businesses for a period of time, and re-invest the proceeds into new projects, according to a report by the Central Electricity Authority.
PRICE Household Surveys show that post Covid, the recovery has been more egalitarian, says CEA
“We are at this stage not necessarily ruling out that it could be very temporary or mundane or something more serious. These developments may have longer-term implications for urban household income, consumption, and savings patterns compared to pre-COVID times."
Private sector is also starting to deploy its capital, and that will continue. Capital formation as a share of GDP is likely to be 35 percent in five years from 30.8 percent, says Anantha Nageswaran
"The global developments have shown up, export orders have moderated. There is a spillover of global factors on domestic manufacturing. We should be realistic about growth in a global context."
Speaking at the eighth annual day of the IBBI, Nageswaran said, "The next step for IBC reform is to improve operational efficiencies, to speed up the resolution process..."
The GDP growth fell to a five quarter low of 6.7 percent in the first quarter of FY25 compared with 7.8 percent in the previous quarter.
Weighing in on falling FDI flows into the country, the chief economic adviser said that this decline is not a sign of decreasing interests among investors.
The CEA has also been vocal on global issues such as climate finance and the assessment methodologies used by global ratings agencies for emerging markets like India.