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New Delhi [India], March 13 (ANI): Indian stock indices extended their gains from the previous to marginally rise at the opening bell Wednesday, tracking its US peers and a relative decline in retail inflation back home. At 9.30 am, Sensex was at 73,802.44 points, up 134.48 points or 0.18 per cent, and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> was at 22,343.70 points, up 8.00 points or 0.036 per cent. Among the widely-tracked Nifty 50 stocks, 18 advanced with ITC leading the most with over 5 per cent gains, and the rest 32 declined with <keyword id="19950209" type="General" weightage="20" keywordseo="power-grid" source="keywords">Power Grid</keyword> dipping the most, NSE data showed. The broader market indices continue to hover near the all-time highs they touched late last week. The indices had been firm tracking firmness in most sectoral indices coupled with overall stable macroeconomic parameters. Sensex last Wednesday crossed the 74,000 mark for the first time. Foreign portfolio investors who had aggressively sold Indian stocks and turned net sellers in the Indian equity market in January 2024 became net buyers in February and March. This has also likely buoyed the stocks of late. So far in March, they bought stocks in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> worth Rs 26,358 crore, the latest data from the <keyword id="20070086" type="General" weightage="20" keywordseo="national-securities-depository-limited" source="keywords">National Securities Depository Limited</keyword> (NSDL) showed. Retail inflation in India eased a tad in February to 5.09 per cent from 5.10 per cent the prior month, due to the deceleration of prices in all categories except food. Within food inflation, protein items (meat, egg) inflation increased exorbitantly (in the range of 400-500 basis points) in February month as compared to January. The retail inflation in India though is in <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s 2-6 per cent comfort level but is above the ideal 4 per cent scenario. According to an <keyword id="20112035" type="General" weightage="20" keywordseo="sbi-research" source="keywords">SBI Research</keyword> report, a spatial heatmap showed that the largest weighted contribution to the current reading of retail inflation came from Maharashtra and <keyword id="19894922" type="General" weightage="20" keywordseo="uttar-pradesh" source="keywords">Uttar Pradesh</keyword>. "Based on all the scenarios, the current repo rate at 6.5 per cent, looks ideal. We can expect the first rate cut only in Q2FY25," SBI Research added. Barring the recent pauses, the RBI has raised the repo rate by 250 basis points cumulatively to 6.5 per cent since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline. (ANI)

Indian stocks extend gains, marginally up at Wednesday opening bell

In the heart of India's southern landscape, a monumental shift unfolded on June 2, marking a pivotal moment in <keyword id="19896313" type="General" weightage="20" keywordseo="Andhra-Pradesh" source="keywords">Andhra Pradesh</keyword>'s history. Hyderabad bid adieu to its role as the administrative nucleus of Andhra as a tangible consequence of the Andhra Pradesh Reorganisation Act of 2014. Presently, the southern state has no capital, a fate that will likely change after the verdict of the <keyword id="21626076" type="General" weightage="20" keywordseo="Vidhan-Sabha-elections" source="keywords">Vidhan Sabha elections</keyword> is delivered. Now, trends as confirmed by the Election Commission of India suggest that the TDP-BJP-Jana Sena Party (JSP) coalition is poised to deliver a significant blow to the incumbent <keyword id="19973324" type="General" weightage="20" keywordseo="YSR-Congress-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="YSR Congress Party" meta.hostid="261" meta.entityid="YSR Congress Party">YSR Congress Party</keyword> (YSRCP) in both Vidhan Sabha and Lok Sabha elections. At the time of writing this article, The <keyword id="19910623" type="General" weightage="20" keywordseo="TDP" source="keywords" meta.keywordsubtype="org" meta.entityname="TDP" meta.hostid="261" meta.entityid="TDP">TDP</keyword>-JSP-BJP alliance has either won or leading in a whopping 158 out of the 175 seats, as per the ECI. And TDP leader <keyword id="20138505" type="General" weightage="20" keywordseo="N-Chandrababu-Naidu" source="keywords">N Chandrababu Naidu</keyword> is all set to take oath in Amaravathi as the Chief Minister on June 9. Similarly, in the Lok Sabha election, the NDA triparty alliance has won (or leads) in 21 out of 25 seats. Compared to their impressive vote share of nearly 50% in the 2019 assembly elections, YSRCP is facing a substantial setback, largely attributed to the compelling appeal of the alliance's promise of effective and progressive governance. In 2013, as a product of decades of political fervour and regional aspirations, <keyword id="19909031" type="General" weightage="20" keywordseo="Telangana" source="keywords">Telangana</keyword> became India's newest state. It necessitated the redefinition of Andhra Pradesh's administrative centre. And former Chief Minister Chandrababu Naidu had set his sights on <keyword id="19926152" type="General" weightage="20" keywordseo="Amaravati" source="keywords">Amaravati</keyword> as the new capital, envisioning a modern hub of governance. Amaravati, with its promise of modernity and progress, symbolised Naidu's vision for a dynamic Andhra Pradesh. Yet, with the changing of the political guard came a divergence in vision. The unexpected rise of <keyword id="19936253" type="General" weightage="20" keywordseo="Jagan-Mohan-Reddy" source="keywords">Jagan Mohan Reddy</keyword> in 2019 ushered in a completely new and audacious vision of <keyword id="21938308" type="General" weightage="20" keywordseo="three-capitals" source="keywords">three capitals</keyword>! The current CM of Andhra affiliated with the YSR Congress Party revealed his vision of establishing a three-city plan with Visakhapatnam, Amaravati, and Kurnool sharing governance roles. With Visakhapatnam for executive functions, Amaravati for legislative affairs, and Kurnool for judicial matters, this plan reflected a departure from the conventional wisdom of centralised governance. Reddy's vision, born from a desire to uplift all corners of the state, challenged the conventional wisdom that a single capital must bear the burden of governance. It was a bold experiment — one that seeked to rewrite the script of regional development. Yet, amidst the cacophony of political rhetoric and legal battles, the fate of Andhra Pradesh's administrative apparatus hung in a limbo. The High Court's intervention, compelling the state to honour the commitments made by its predecessor, added another layer of complexity to an already convoluted saga. In April 2024, Naidu asserted that should he come to power in Andhra, Amaravati would remain the enduring capital of the state, adding that the city embodied the pride of Telugu people. Speaking at a gathering in Tadikonda, Guntur district, during his Praja Galam public meetings, Naidu stated firmly, "This isn't just Tadikonda; this is Amaravati. I assure you all from this platform that no force can disrupt Amaravati's future. Prime Minister Narendra Modi, JSP president Pawan Kalyan, and I are committed to its development." Naidu also accused YSRC president and Chief Minister YS Jagan Mohan Reddy of commencing his tenure by demolishing the 'Praja Vedika' (Grievance Hall). The 74-year-old legislator pledged to rebuild the Praja Vedika promptly upon regaining power. Meanwhile, the new CM of Andhra already has his work cut out for him. With Hyderabad's departure, a logistical domino effect has ensued — offices, assets, and infrastructure must find new homes. The bureaucratic machinery, once anchored in Hyderabad, now faces the challenge of redefining its locus. The fate of over 55 buildings, prime symbols of administrative authority, lies in the hands of policymakers. The intricate process of bifurcating government corporations, training institutions, and assets demands meticulous planning and foresight. The transition from Hyderabad to a new capital is not just about changing addresses; it's about reimagining governance itself. In the corridors of power, negotiations simmer as Andhra Pradesh and Telangana navigate the delicate dance of asset allocation. The fate of institutions like the Film Development Corporation and the Women's Finance Corporation hangs in the balance, awaiting resolution in the crucible of political negotiation.

Andhra Assembly Election Results 2024: As TDP sweeps AP, dream of Amaravati as the ideal capital gains momentum

Four out of five elections in the bag ⁠— the first incumbent party in <keyword id="6357713" type="General" weightage="20" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword> to win the state in 37 years ⁠— is enough for a delirious party (celebration). The Bharatiya Janata Party (<keyword id="14666" type="General" weightage="20" keywordseo="bjp" source="Orion">BJP</keyword>) is not a new party, but it’s the only one that seems to have the strongest organisation among all political parties. But money and power may just be two of the ingredients that make it so effective. The result of the latest election in Uttar Pradesh (UP) has reinforced one fact about the state’s changing politics: identity politics, as we’ve come to know it, is passe. <div type="image" title="UP election results" msid="90135835" hostid="261"></div> The wave of anti-establishment leaders, who emerged in North India in the 1980s, saw India as a mishmash of several identities, based on religion, caste, language and so on, saw an opportunity in becoming individual power centres by representing one or more of these factions promising them clout along with affirmative action. Their fiefdoms seemed to have broken by the Narendra Modi wave in 2014 and haven't recovered since then. It’s not because those identities have suddenly dissolved into a larger national, or even a state level, group. Both caste-based oppression and religious discrimination is alive and well. The <keyword id="6354265" type="General" weightage="20" keywordseo="samajwadi-party" source="Orion">Samajwadi Party</keyword> gained a lot by tapping into the fear of persecution among Muslims this time and won the best ever-vote share in the party’s history. <div type="image" title="SP won back the vote share in Muslim dominated constituencies" msid="90135994" hostid="261"></div> However, on a larger scale, the issue hasn’t won them the election. It just seems like people don’t expect politicians to resolve these issues. After decades of broken promises, people don’t seem to be looking for anti-dynasty messiahs who, eventually, initiate their own dynasty. People want to hear something new from the challengers. So, parties fell back on the tried and tested issues like unemployment and inflation. But that hasn’t worked in UP either. <div type="image" title="Assembly Elections 2022" msid="90135864" hostid="261"></div> It’s not like there were no chinks in the BJP armour. Even what the government could do on its own, it hasn’t. Over 10 million young people who applied for a Railways recruitment exam have not received the results in over 2 years. A teacher eligibility test to be held by the government became a controversy after it <a href="https://www.hindustantimes.com/india-news/till-when-varun-gandhi-raises-unemployment-issue-in-latest-criticism-aimed-at-centre-up-govt-101638421572885.html">got cancelled just before the elections</a>. But these things have happened in UP even when the BJP was not in power. The fact is even in the Modi or <keyword id="43254" type="General" weightage="20" keywordseo="yogi-adityanath" source="Orion">Yogi Adityanath</keyword> era, UP has seen massive job losses, partly due to the pandemic. But they were able to offer some tangible solutions too: additional work for the unskilled, under the rural employment guarantee scheme (<a href="https://www.business-standard.com/article/economy-policy/71-mgnrega-wages-not-paid-on-time-14-delayed-beyond-30-days-study-shows-121102901592_1.html">as flawed as it may be</a>), and free food for the poor. The free ration, in the wake of the pandemic, provided by the government has been particularly popular in states like Uttar Pradesh that rank very poorly by level of poverty and contribute a large proportion of India’s migrant workers. <div type="twitter" handle="SVishnuReddy" handlename="Vishnu Vardhan Reddy" image="http://pbs.twimg.com/profile_images/1451805156316647433/FRMMeG5I_normal.jpg" favoritecount="3947" retweetcount="1334" status="So @ndtv deleted this video tweet as they didn't want to show the ground reality of Uttar Pradesh to the people of… https://t.co/7OLeqlT3OK" createdat="1645603213000" id="1496394449781665796"></div> Issues like the <a href="https://www.thenewsminute.com/article/67-journalists-arrested-detained-questioned-india-2020-their-work-140963">arrest of journalists</a>, <a href="https://timesofindia.indiatimes.com/india/lakhimpur-kheri-case-ashish-mishra-released-on-bail/articleshow/89594633.cms">killing of farmers in Lakhimpur</a>, <a href="https://timesofindia.indiatimes.com/india/hathras-gangrape-murder-case-top-developments/articleshow/78474943.cms">the rape in Hathras</a>, have not enraged the collective conscience in a way that the <keyword id="6360456" type="General" weightage="20" keywordseo="OPPOSITION" source="Orion">opposition</keyword> would have wanted. Essentially, BJP leaders and supporters can say <a href="https://twitter.com/nytimes/status/1474456355163488268?t=Y7LhxIvK7syYZNglPJEdcQ&amp;s=19">any abhorrent thing</a> against religious minorities ⁠— Modi and other icons can continue to condone or ignore it ⁠— as long as the policies themselves aren’t discriminatory. Simply put, for example, as long as no one is denied free ration because of their religion or caste, the people are able to ignore the rhetoric. Does that mean that the BJP will remain in power forever? No. But the alternative has to be a new face, a new outfit that captures the imagination of the Indian youth in a way that existing leaders don’t. The Aam Aadmi Party’s (AAP) sweeping win in Punjab is proof of exactly that. AAP is a 7-year old political upstart that has become a credible political alternative in Delhi and Punjab, and broken ground in <keyword id="826" type="General" weightage="20" keywordseo="goa" source="Orion">Goa</keyword>. What works for it is Kejriwal’s crafty cocktail of welfare politics, anti-establishment posturing with a healthy dose of religious flattery. <div type="image" title="Punjab Election Results" msid="90136060" hostid="261"></div> In fact, it may even seem like what the voter wants isn’t exactly a new idea, but s/he surely doesn’t want to hear it from the same old flock of career/dynastic politicians. Even now, BJP has serious challengers in many states but none of them have any traction beyond their home states. Mamata Banerjee’s attempt to seek votes for Akhilesh Yadav in Uttar Pradesh hasn’t yielded much. Even the idea of a coalition of regional parties ⁠— from Arvind Kejriwal to MK Stalin, from Mamata Banerjee to Pinarayi Vijayan, from Jagan Reddy to Ashok Gehlot ⁠— taking on Modi seems jaded, if not flimsy. The way people vote for a state election is different from how they vote for the Parliament. This was the best chance for opposition to show some might and they’ve lost it. The opposition needs a new face to change the face of the government.

SIMPLY PUT: Uttar Pradesh is bored of the opposition

Several states in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> are likely to see a power shortage in the coming weeks as power plants struggle to find optimum amounts of thermal coal amid rising summer demand, higher import costs and the resultant supply tightness, sources told S&amp;P Global Commodity Insights. Global thermal coal prices have remained elevated as a fallout of the Russia-Ukraine conflict, which disrupted trade flows and crippled supply amid additional demand from <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>, which has now sanctioned Russian coal. As a result, imported coal has largely remained out of bounds for price-sensitive markets like India, S&amp;P Global Commodity Insights said. The shortage level was even higher at 80.08 million units on April 7, which raised concerns among several market participants, who said the crunch was near to mid-October 2021 levels when India faced an acute power crisis as the stockpile at 115 power plants slipped to critical levels. According to a notice issued by the Maharashtra State Electricity Distribution Company Ltd. on March 31, reviewed by S&amp;P Global, the state has decided to temporarily curtail electricity supply to segments of agricultural power consumers in the state. Other provinces where high supply shortages were recorded on April 10 include <keyword id="6355554" type="General" weightage="50" keywordseo="madhya-pradesh" source="Orion">Madhya Pradesh</keyword> (9.67 MU), the union territories of Jammu and <keyword id="6354495" type="General" weightage="50" keywordseo="kashmir" source="Orion">Kashmir</keyword> and Ladakh (cumulatively 4.65 MU), <keyword id="6354953" type="General" weightage="50" keywordseo="punjab" source="Orion">Punjab</keyword> (4.5 MU), Haryana (4.39 MU) and Jharkhand (2.29 MU). S&amp;P Global reported April 1 that India needs to increase thermal coal imports to meet rising power demand during the peak summers, even as import prices remain elevated due to supply tightness created by the Russia-Ukraine conflict. India's state-run Coal India said March 28 that its pithead stock is expected to rise above 60 million mt by April 1, 39.39% lower than the corresponding period in the previous year. Coal stocks at Indian power plants stood at 25.5 million mt March 28, 12.96% lower on the year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">Xiaomi’s Manu Kumar Jain has been reportedly summoned by the Enforcement Directorate</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/travel-tourism-and-hospitality-sector-is-witnessing-a-surge-in-manpower-demand-by-20-percent/slidelist/90799907.cms">Travel, tourism and hospitality sector is witnessing a surge in manpower demand by 20 percent</a>

India to face more power cuts amid coal shortage and rising demand

The <keyword id="6357713" type="General" weightage="100" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword> government will soon recruit 40,000 additional <keyword id="6356350" type="General" weightage="20" keywordseo="constables" source="Orion">constables</keyword> in its various wings. The recruitment process will begin soon. As per the plan, 34,000 constables will be absorbed in civil police and 6,000 in other units, including PAC, radio and as computer operators. A senior police officer said that the recruitment process coincides with the Prime Minister's direction to officials of central departments and ministries to recruit 10 lakh people in the next 1.5 years. Uttar Pradesh Police had recently completed recruitment of 9,534 sub inspectors in various wings. <keyword id="5971751" type="General" weightage="20" keywordseo="Uttar-Pradesh-Police-Recruitment" source="Orion">Uttar Pradesh Police Recruitment</keyword> and <keyword id="14207923" type="General" weightage="20" keywordseo="Promotion-Board-DG" source="Orion">Promotion Board DG</keyword>, <keyword id="6284138" type="General" weightage="50" keywordseo="raj-kumar-vishwakarma" source="Orion">Raj Kumar Vishwakarma</keyword>, said that pending recruitment issues in courts from 2011 and 2013 were resolved after the Yogi government came to power in UP and fresh recruitments had also started. In the last five years, the state police have recruited 1.53 lakh personnel. "Now, we plan to recruit 40,000 more constables, following which the total would go further up to 1.93 lakhs, which is a record," said Vishwakarma. The DG said that the recruitment exam will be conducted in winter and results will be out by next summer, and subsequently, the induction will be done by December 2023. Nearly 1,003 candidates were recruited as SI and on equivalent ranks after the order of court pending since 2011, while 5,498 were recruited as constables and on equivalent ranks after court order on a recruitment in 2013. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/cashe-is-now-offering-instant-loans-on-whatsapp-in-30-seconds/articleshow/92230354.cms">A company is now offering instant loans on WhatsApp in 30 seconds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/careers/news/gig-economy-is-dominated-by-millennials-but-women-make-up-for-less-than-a-third-of-the-workforce/articleshow/92230115.cms">Gig economy is dominated by millennials but women make up for less than a third of the workforce</a>

Uttar Pradesh to recruit 40,000 additional constables across various wings

<ul><li>About 22 power plants have shut down due to shortage of coal.</li><li>Despite this, the union power ministry says the fear of <keyword id="44721" type="General" weightage="20" keywordseo="power-crisis" source="Orion">power crisis</keyword> in India is overblown.</li><li>Maharashtra claims that electricity is being sold as high as ₹20 per unit on power exchange, even though it was priced at ₹3.7 in May.</li><li>Punjab, Tamil Nadu, Karnataka and three other states are facing power crisis.</li></ul>At least six states of India are currently facing power cuts, while Maharashtra, Delhi and Kerala are closely staring at it. Even though the government of India has time and again assured that it won’t let it come to that, the fact of the matter is that about 22 power plants have shut down due to shortage of coal. Even the coal that is available is being sold at exceedingly high costs. If the situation doesn’t improve India is starting at a grave situation. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power plants shut </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maharashtra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Punjab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.thehindu.com/news/national/andhra-pradesh/power-crisis-triggered-by-coal-shortage-not-limited-to-ap/article36954397.ece">Andhra Pradesh</a> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><a href="https://www.livemint.com/industry/energy/blackout-crisis-in-india-list-of-states-which-may-face-power-cut-as-coal-demand-rise-11633846435899.html">Kerala</a> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports According to data shared by the Central Electricity Authority of India on October 5, nearly 80% of the country’s coal-fired plants were in critical or “supercritical” stages. This meant that these coal reserves had coal reserves to only last less than five days. The electricity authority has not shared any updated information since then. Government says there is no <keyword id="487736" type="General" weightage="20" keywordseo="coal-shortage" source="Orion">coal shortage</keyword> The union power ministry has called the fear of power crisis in India overblown, while the ministry of coal has emphasised that "ample coal is available in the country to meet the demand". However, the government and the ministries have taken cognizance of the matter and the sensitive situation in several states. The Indian government has <a href="https://economictimes.indiatimes.com/industry/energy/power/govt-asks-power-plants-to-blend-10-imported-coal-to-step-up-supply/articleshow/86981558.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst" data-type="tilCustomLink">reportedly</a> asked thermal power units to restart the discontinued practice of blending 10% imported coal over concerns of depleting stock. On October 12, the ministry of power issued a statement directing state governments to inform the central government in case of power surplus, so that this power could be transferred to other “needy states.” They also prohibited states from selling power to states at a higher cost. Power ministry jumps in to cut the cost Kerala and Maharashtra are two such states that have come forward to confirm that they have been purchasing electricity at higher prices. “We have a thermal generation of around 14,000 megawatts and due to the shortfall, we have to purchase electricity from the power exchange at exorbitant costs which is as high as ₹20 per unit,” Maharashtra State Electricity Distribution Company Limited (MSEDCL) Managing Director Vijay Singhal said. The average spot power price stood at<a href="https://www.newindianexpress.com/business/2021/may/06/average-spot-power-price-up-nearly-53-pc-to-rs-370unit-in-april-at-iex-2299174.html"> ₹3.70 per unit</a> in May 2021. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">States </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issues </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Punjab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Scheduled power cuts, lasting up to six hours </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maharashtra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buying electricity at ₹20 per unit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tamil Nadu </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power cut in parts of Chennai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Karnataka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power cut in parts of Bengaluru on October 12, 13 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Andhra Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Getting 40,000 tone of supply, against 70,000 tonnes </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rajasthan, Jharkhand and Bihar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power cuts up to 14 hours </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports Several regions, including Delhi and Maharashtra, have advised consumers to use electricity judiciously as power supply is at a critical level. The problem doesn’t end with coal According to Rupesh Sankhe, vice president at Elara Capital, fuel supply agreements (FSA) — which fixes the cost of coal charged by <keyword id="45383" type="General" weightage="20" keywordseo="coal-india" source="Orion">Coal India</keyword> while selling to power producers — price is ₹1,500 per tonne while e-auction price ₹2,200 per tonne, imported coal ₹6000, adjusted for calorific value, Sankhe added. e-Auction for sale of coal to other buyers, including traders. Tata Power is one of those power producers that import coal. The company reduced its production capacity to<a href="https://economictimes.indiatimes.com/markets/stocks/news/why-rising-coal-prices-is-not-a-worry-for-tata-power/articleshow/86815179.cms"> 20% in June quarter</a> in its coal-based power plant at Mundra — which supplied electricity to Gujarat, Punjab, Rajasthan, Maharashtra and Haryana. This was done to avoid large losses. India is staring at a grave situation if things don’t get better soon. Especially because coal isn’t the only thing that one needs to worry about. The prices of other power sources like crude oil, and natural gas have been spiking too, which has the<a href="https://www.businessinsider.in/india/news/heres-why-indias-coal-shortage-may-not-immediately-push-up-electricity-bills-but-household-expenses-will-still-rise/articleshow/86806149.cms"> potential to depreciate the value of rupee</a>. SEE ALSO <a href="https://www.businessinsider.in/business/auto/news/tata-motors-gets-a-billion-dollar-investment-from-tpg-group/articleshow/86966522.cms" data-type="tilCustomLink">TPG makes a billion dollar bet on Tata Motors’ EV dreams</a> <a href="https://www.businessinsider.in/india/news/india-allows-domestic-flights-to-operate-at-full-capacity-from-monday/articleshow/86965330.cms">India allows domestic flights to operate at full capacity from Monday</a> <a href="https://www.businessinsider.in/business/startups/news/former-sbi-chair-rajnish-kumar-joins-bharatpe-to-guide-its-transformation-to-a-small-finance-bank/articleshow/86963500.cms">Former SBI chair Rajnish Kumar joins BharatPe to guide its transformation to a small finance bank</a>

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