The Centre is expecting to invest $100 billion in the renewable energy sector in the next four years to solve the power crisis in the country. This move has been taken against the backdrop of looming power crisis that stands to be a major hurdle for Indian industrial growth in the wake of possible cancellation of coal block allotment by the Supreme Court. The government also expects $50-60 billion investment in power transmission and distribution in the next four years. GVK faces October deadline to pay $560 million for Australia coal assets GVK Group faces an October deadline to pay a final $560 million to billionaire Australian miner Gina Rinehart for coal assets it bought in 2011 and has yet to develop in Australia's outback.
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