Local airlines likely to induct 384 planes by March 2020

Domestic scheduled carriers are likely to induct as many as 384 aircraft in their fleet by March 2020, according to information available with the government, reported PTI. Out of the total, budget carrier IndiGo is expected to add 136 aircraft while full service airline Vistara is likely to induct at least 5 planes during the period, as per details given by civil aviation minister Ashok Gajapa

Strength in farm business powers DuPont`s results beat

 DuPont's quarterly profit and revenue beat estimates on Tuesday, driven by strength in its agriculture business, its biggest, sending its shares to a record high.

DuPont, which is merging with Dow Chemical, rose as much as 2.4 percent to $86.36 in morning trading. Dow, which will report quarterly earnings on Thursday, was up 1.7 percent.

Sales in DuPont's agric

GST mitigated cascading impact of taxes on civil aviation sector: Minister

The government on Tuesday said GST (Goods and Services Tax) has mitigated "ill-effects of cascading taxes on prices across all sectors including civil aviation".

According to Minister of State for Civil Aviation Jayant Sinha, GST was introduced with the intention to reduce the overall tax burden on the consumer.

"The GST regime amalgamates a large number of ce

Centre took steps to increase farmers income: Minister

Several steps like organic farming, crop insurance, and market reforms have been taken to enhance the income of Indian farmers, the government told the Lok Sabha on Tuesday.

Union Minister of State for Agriculture Parshottam Rupala said other schemes aimed at increasing the income of farmers included soil health cards, neem-coated urea, Paramparagat Krishi Vikas Yojana, and Pradhan Ma

Supreme Court asks Sahara to deposit Rs 1,500 cr to stall auction of Aamby valley

The Supreme Court on Tuesday asked Sahara chief Subrata Roy to deposit Rs 1,500 crore - a part payment of Rs 24,000 crore that two group companies had raised from the investors - with market regulator Sebi to stall the auction of its lands in Aamby valley.

Directing the sum be deposited by September 7, the bench of Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri permi

TDSAT hearing on Reliance Jio free-offer case on Aug 18

The telecom tribunal will hear on August 18 the petition of Bharti Airtel and Idea Cellular challenging the decision of Trai to allow free offers of Reliance Jio to continue beyond the stipulated 90 days, reported PTI. The two offers in reference are 'Jio Welcome Offer' and the 'Happy New Year offer'. The petition by Bharti Airtel and Idea Cellular against the Telecom Regulatory

Rs 7 lakh cr to be spent in building roads in next 5 years

The Indian Government has said that it will cost around Rs 7 lakh crore for development of national highways and other roads under various government schemes and proposed Phase-I of Bharatmala programme upto 2021-22. Commenting on the issue, Minister of State for Road Transport and Highways Mansukh Lal Mandaviya told the media, "The estimated fund requirement for development of national hi

Manage employee expectations, Kris to IT cos as growth slows

As growth rate slows down, Indian IT companies need to learn to manage expectations of their employees, says a senior industry figure as he pitched for retraining of staff, in the era of rapid technology transition, reported PTI. When growth rate slows down, one has to manage the expectations of the employees within the company, former CEO of Bengaluru-headquartered IT major, Infosys, Kris Gopa

Stalled hydro power projects leading to cost overrun: Minister

The Indian Government has said that around fourteen under construction hydro power projects of above 25 mw have been stalled due to various reasons, leading to cost overrun of Rs 25,593.78 crore. Commenting on the issue, Power Minister Piyush Goyal told the media, "As of July 1, 2017, there are 14 under construction hydro power projects (above 25 mw), totalling 5,055 mw, which are stalled

Sunil Mittal urges TRAI to reject `Bill and Keep` method

Bharti Airtel Chairman Sunil Mittal has urged the Indian telecom regulator to reject the 'Bill and Keep' (BAK) method and said it should continue with the interconnection usage charge (IUC) regime.

"The current IUC at 14 paisa is already well below cost and it will be in fitness of things that while taking a final decision, the Authority (Telecom Regulatory Authority

Rs 7 lakh cr needed for national highways development in 5 yrs

The Ministry of Road Transport & Highways has estimated a fund requirement of about Rs. 6.92 lakh crore for the development of National Highways in the country during the next five years. This requirement will be met from the Gross Budgetary Support of the Ministry, the Central Road Fund, Toll remittance, Monetization of National Highways through Toll-Operate-Transfer (TOT) model, external

FDI up 23% at $10 bn during April-May: Nirmala Sitharaman

Foreign direct investment (FDI) grew by 23 per cent to $10.02 billion during April-May this financial year, Parliament was informed. In 2016-17, the foreign fund inflows aggregated at $60.08 billion, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. She said that to promote FDI, the government has put in place an investor-friendly policy.


Uttarakhand ropes in AAI to develop civil aviation infra in state

The Uttarakhand government has roped in Airports Authority of India (AAI) to develop civil aviation infrastructure in the state. The two entities have signed an initial pact in this regard, under which the national airports operator will also assist state's civil aviation authorities in obtaining necessary clearances for airport operations besides assessing commercial potential of various a

Strong tech-enabled business models key for MSMEs today: SAP India

In their quest to become digital, Small and Medium Enterprises (MSMEs) need to adopt strong tech-enabled business models and processes to make them more efficient and achieve global competitiveness, says a top SAP India executive.

At a time when large corporates as well as MSMEs are seeking to accelerate their digital growth journeys, these firms have to excel in three areas: acc

Government panel for sops to ease financial stress in telecom sector

The inter-ministerial group (IMG) set up to address the financial stress in the telecom sector has prepared a draft report recommending steps to benefit the industry, according to sources. It is learnt that Finance Minister Arun Jaitley reviewed the report last week, says a Business Standard report. Extending the deferred payment schedule to 16 years, cut in interest rates and converting the PL

Moody`s affirms ratings of 9 banks, downgrades IOB, CBI

Global rating agency Moody's affirmed ratings of nine banks, including Bank of India, Punjab National Bank and Axis Bank, at Baa3/Prime-3, and downgraded the ratings of Indian Overseas Bank and Central Bank of India to Ba3 from Ba1, reported PTI. Other banks whose rating was affirmed are Bank of Baroda, Canara Bank, Oriental Bank of Commerce, Syndicate Bank Union Bank of India and ICICI Ban

Yatra acquires Air Travel Bureau

Leading online travel company Yatra Online on Monday said it has acquired corporate travel services provider Air Travel Bureau.

The company did not divulge any financial details of the acquisition. 

"This acquisition significantly strengthens our position in the large and growing corporate travel market in India," said Dhruv Shringi, Co-Founder and C

Government working on clean fuel-based public transport: Nitin Gadkari

The government is working on reducing the number of cars on the roads by boosting the public transport system in the cities as well as between key cities, Union Road Transport and Highways Minister Nitin Gadkari said on Monday.

He added his ministry was also working on moving the public transport from oil-based fuel to alternative fuel including electricity, ethanol, methanol, bi

Rs 62.99 crore spent since 2012 on plastics use in highways construction

The government has spent only Rs 62.99 crore since 2012 out of the allocated Rs 159.6 crore on research, development, training and quality assurance through use of waste plastics and jute in the construction of highways, Parliament was told on Monday.

In the financial year 2015-16, the ministry spent highest amount of Rs 40.90 crore against allocated amount of Rs 68.2 crore, while the

In two years solar energy for residential sector would be cheaper than electricity grid: Solar players

 In the next two years, solar power will be cheaper than the electricity grid in the residential sector, says solar energy provider SunSource Energy which on Monday successfully implemented the first two phases of a 100 MW solar project in South East Asia.

Stating that while the solar energy in India has already reached 'grid parity' in commercial, industrial and utility

Tiles industry expected to grow 6-9% in current fiscal

With the rolling-out of Goods and Services Tax (GST) and anticipated boost in the housing sector, the tiles industry is expected to grow by 6-9 per cent in the current fiscal, a top industry player said here on Monday.

"The tiles industry size is about Rs 26,500 crore and in other words, it is at 865 million square metres. The industry is expected to grow by 6-9 per cent in this

29 mineral blocks put on the block till date: Piyush Goyal

A total of 29 mineral blocks with a combined estimated resources of Rs 1.56 lakh crore have been auctioned so far, the government said as per the PTI report. "As on date, 29 mineral blocks with an estimated total value of resources of Rs 1,56,746 crore have been auctioned in Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha and Rajasthan,"

Reliance Capital`s shareholders approve demerger scheme

Financial services major Reliance Capital on Monday said its shareholders have approved the demerger scheme for Reliance Home Finance.

According to the company, the demerger scheme -- which will facilitate in the independent listing of Reliance Home Finance -- was approved by 99.59 per cent votes in favour of the "Scheme of Arrangement" at the Tribunal-convened General

Railways didnt take adequate steps to improve parcel services: CAG

The Indian Railways did not take adequate steps to put in place infrastructural and other arrangements for improvement in parcel services, which was estimated to grow from Rs 1,644 crore in 2011-12 to Rs 8,000 crore in 2019-2020, the CAG said in a report as per the PTI.

"During 2013-2014 to 2015-2016 though the parcel earnings increased by 11.4 per cent, the tonnage carried in pa

India, Bangladesh sign MoU for new waterways: Minister

According to a Government Official, Bangladesh and India have signed a Memorandum of Understanding (MoU) to connect the north-east and West Bengal with Bangladesh through new waterways. Commenting on the issue, Union minister Mansukh Mandaviyatold the media, "The new waterways would enable transportation of people and goods by ships.

They would be set up by using the major rivers