Indian economy grew at 7% in the first quarter of FY16, well below 7.5% growth recorded in the previous quarter and consensus estimate of 7.4%. The data shows growth was pulled down by agriculture, moderate rise in electricity generation, and lower government spending.
Marking first major FDI offer in the railways, three global companies have submitted financial bids for setting up of a modern electrical locomotive factory in Madhepura in Bihar at the cost of nearly Rs 13bn.
The Punjab government said it has received bids from as many as 18 companies for setting up solar projects in the state which will attract investment of Rs 35bn.
The government is in the process of framing regulations for exploration and mining in offshore blocks, which contain minerals such as zirconium, titanium, thorium, tungsten and rare earth elements.
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