Licence fee payment collection in telecom sector falls in 3rd quarter: Minister

The Indian Government has said that accruals from licence fee payments in the telecom sector have fallen from Rs 3,975.6 crore in the first quarter to Rs 3,450 crore in the third quarter of the current fiscal. Commenting on the issue, Telecom Minister Manoj Sinha told the media, “Licence fee collections stood at Rs 3,975.67 crore during the first quarter, Rs 3,584.04 crore in the second q

Two SAIL units incurring losses for last few years: Reports

The Indian Government has said that the two units of state-run SAIL, VISP and SSP, are running in losses for the last few years in spite of an investment of around Rs 2,600 crore. Commenting on the issue, Minister of State for Steel Vishnu Deo Sai told the media, "Despite an investment of around Rs 400 crore, VISP (Visveswaraya Iron and Steel Plant) is making losses for last 10 years."

Railways to remove non-performing officials to improve performance

The Indian Railways has said that it has decided to get rid of non-performing employees from service by compulsorily retiring employees on the basis of performance review. Commenting on the issue, a senior Railway Ministry official told the media, "It has already been done in two-three cases in railways where concerned employees found to be non-performer were asked to go as they were consi

Railways to acquire high speed locomotives: Reports

The Indian Railways has said that it will go for global shopping to acquire high speed locomotives with a Rs 500 crore project to run trains at 200 km per hour on Delhi-Mumbai and Delhi-Kolkata routes. As per reports, speed is the latest matra for railways as it is going ahead with the action plan to upgrade Delhi-Kolkata and Delhi-Mumbai rail corridors enabling the track fit for 200 kmph train

Railways incurring losses on passenger operations: Reports

The Indian Railways has said that it is incurring losses on passenger operations every year. Commenting on the issue, Minister of State for Railways Rajen Gohain told the media, “Railways incurred losses of Rs 33,491 cr on passenger operations in 2014-15 while in 2015-16 the figure was Rs 35,918 cr.”

“The losses incurred on account of passenger fare are not separatel

'Supreme Court ban on selling BS-III models a penalty on entire industry'

The country's largest automaker Tata Motors said that the Supreme Court's ban on selling BS-III models was "unexpected and unprecedented penalty" on the entire industry, reported PTI. "The Supreme Court order banning sale of all BS-III vehicles from April 1 is an unexpected and unprecedented move that will have a material impact on the entire automotive industry, OEMs'

Debt refinancing may lower discom losses to Rs 37.5K cr: ICRA

ICRA said it is expecting debt refinancing by state governments under UDAY scheme will lower the losses of discoms from Rs 67,000 crore in FY2015 to Rs 37,500 crore in FY2017, reported PTI. The progress in implementation of the Ujwal DISCOM Assurance Yojana (UDAY) has been satisfactory with 22 states/ union territories (UT) joining the scheme and 13 of these states issuing bonds worth Rs 2.32 l

India became net exporter of power this fiscal

India has become a net exporter of electricity for the first time during the eleven months (April-February) of the current fiscal, the government said on Wednesday.

"As per Central Electricity Authority (CEA), the designated authority of government of India for cross border trade of electricity, first time India has turned around from a net importer of electricity to net exporter

India takes US to WTO over visa fee hike

India has taken the issue of hike in visa fees by the US to the dispute settlement agency of the World Trade Organization (WTO), Parliament was informed on Wednesday.

Commerce Minister Nirmala Sitharaman told the Rajya Sabha in a written reply that the government has taken up with the new American administration the visa issues being faced by Indian services companies. 

Government sensitive towards farmers` issues: Minister

The central government is "sensitive" towards the problems and challenges faced by the farmers and all possible help is being provided to them, the Rajya Sabha was informed on Wednesday.

"Agriculture Minister Radha Mohan Singh and Finance Minister Arun Jaitley have met various farmers' delegations (here)," Commerce Minister Nirmala Sitharaman told the House whi

AAI, DRDO, Jharkhand govt ink MoU for Deoghar Airport dev

The Airports Authority of India (AAI), Defense Research and Development Organization (DRDO) and Jharkhand government has signed a tripartite MoU for the development of Deoghar Airport, as per the governmrnt release.

The Ministry of Civil Aviation said in a release that, “Airports Authority of India, Defense Research and Development Organization (DRDO) and Govt. of Jharkhand sign

Government to auction T-Bills worth Rs 182,000 cr during Q2 FY18

The Government of India, in consultation with Reserve Bank of India, has decided to auction Rs 182,000 crore Treasury Bills during the quarter ending June 2017. During April-June quarter, the government will auction 91 Days Treasury Bills for Rs 104,000 crore, 182 Days Treasury Bills for Rs 42,000 crore, and 364 Days Treasury Bills for Rs 36,000 crore, according to statement released by the min

Foreign stock investors race to India ahead of tax changes but inflows seen slowing

By Abhirup Roy and Suvashree Choudhury

MUMBAI  - Foreign investors are set for their biggest monthly purchases of Indian equities in four years in March, but analysts expect inflows to moderate after a major overhaul of tax rules kicks in on April 1.

Market participants estimate about one-third of the inflows of $3.6 billion seen this month - the bigges

India's crackdown on abattoirs spreads, causing Muslim unease

By Rajendra Jadhav and Mayank Bhardwaj

MUMBAI/NEW DELHI - A crackdown on unlicensed abattoirs in India's most populous state has spread to other states ruled by Prime Minister Narendra Modi's party, as Hindu hardliners press a political agenda that risks alienating the country's Muslim minority.

The latest crackdown started after Modi appointed Y

Auto makers may export unsold non-BS IV compliant vehicles

As the apex court on Wednesday banned the sale and registration of non-BS IV compliant vehicles, auto manufacturers are now said to be toying with the idea of exporting their unsold warehouse stocks -- about nine lakh.

Vinod K. Dasari, Ashok Leyland CEO and Society of Indian Automobile Manufactures (SIAM) President, reacted to the Supreme Court's decision saying that the inventory

Call drop instances have declined: Manoj Sinha

The instances of call drops have declined over a period of time and various steps have been taken to address the issue, Telecom Minister Manoj Sinha said as per the PTI report. The telecom service providers have also been asked to improve the coverage of signal by installing more Base Transceiver Stations (BTS), he told the Lok Sabha.

During Question Hour, Sinha said the instances of

Government links 361 mandis of 11 states on e-NAM portal

The government has integrated 361 mandis of 11 states with National Agriculture Market (e-NAM) portal, said Parshottam Rupala, Minister of State for Agriculture & Farmers Welfare in reply to a question in Lok Sabha.

The Minister said that, the government has received proposals from 16 states for linking their 676 mandis with National Agriculture Market (e-NAM) portal. He further a

India's February rubber imports halve, output jumps 54 percent - Board

MUMBAI  - India's natural rubber imports in February halved from a year ago to 15,609 tonnes, the state-run Rubber Board said on Wednesday, as a rally in overseas prices prompted tyre makers to increase purchases from the local market.

The country's production jumped 54 percent last month to 57,000 tonnes, the Board said in a statement.


Irdai hikes third-party motor premia by up to 41%

Insurance regulator Irdai notified a massive 41 per cent increase in new third-party motor premium rates for private vehicles between 1 litre and 1.5 litre engine capacities to Rs 3,132 from Rs 2,237 now, reported PTI. The new rates will be effective from April 1, the regulator said in a notification.

The Irdai, however, left the third-party motor premium for private cars with 1 litre

India becomes net exporter of power for the first time - government

NEW DELHI  - India has become a net exporter of electricity for the first time, the power ministry said on Wednesday, adding that upcoming cross-border transmission lines with neighbouring countries such as Nepal, Bangladesh and Myanmar will only increase sales.

April-February power exports of around 5,798 million units were 4 percent higher than what India bough

Insufficient infra to evacuate electricity from power plants: Reports

A senior official has said that around 46,000 MW power generation capacity is stranded as states have not built sufficient infrastructure to evacuate electricity from these plants. Commenting on the issue, industry body PHDCCI Member (Planning), Pankaj Batra told the media, "The Central Electricity Authority (CEA) on Tuesday said that 46,000 MW of power capacity is stranded as of now on ac

Railways to make changes in flexi-fare system: Reports

The Indian Railways has said that it is mulling to reserve about 50 per cent berths in premier trains including Rajdhani for normal fare by making changes in the prevailing flexi-fare system. As per reports, currently flexi-fare system is applicable in Rajdhani, Shatabdi and Duronto trains since September 9 last year which allows only 10 per cent of the seats to be sold in the normal fare and t

No plans to privatise Air India: Government

The Indian Government has said that Air India is projected to post an operating profit of Rs 300 crore in the current fiscal and there is no plan to privatise the airline. Commenting on the issue, Minister of State for Civil Aviation Jayant Sinha told the media, "The operating losses of the company have been steadily coming down over the past few years and the same have converted into oper

Amfi sees equity Mutual Funds touching Rs 10 trillion in 2-yrs

The equity-linked assets portfolio of mutual funds is likely to jump to Rs 10 trillion in the next couple of years from the present Rs 6.4 trillion, a top Amfi official said according to the PTI report. The overall folio number of the industry is likely to increase to 10 crore in next two years' time, said the official of the Amfi or the Association of Mutual Funds of India that represents

India's economic data not politically influenced, Arvind Subramanian says

HONG KONG  - India's chief economic adviser rejected the notion that official data was politically influenced as "utter nonsense", after surprisingly strong growth in the wake of a government ban on high denomination bank notes caused raised eyebrows among independent analysts.

Speaking to an investment forum in Hong Kong on Wednesday, Arvind Subram