Government nod for amending law to allow construction near protected monuments

The Union Cabinet has approved amendments to a law for allowing the central government to carry out infrastructure projects within the limits of "prohibited area" around protected monuments The Ancient Monuments and Archaeological Sites and Remains Act 1958 will be amended to allow "public works of national importance" in the prohibited areas, said Union minister Piyush Goya

Government constitutes panel to suggest reforms for telecom sector

The Indian Government has said that it has constituted an inter-ministerial panel to suggest policy reforms for the telecom sector, which is reeling under severe financial stress. As per reports, the panel, comprising senior officials from the ministries of finance and telecom, will examine the systemic issues affecting viability and repayment capacity in the telecom sector and furnish recommen

CCEA approves laying of rail tracks in Maharashtra: Reports

The Cabinet Committee on Economic Affairs (CCEA) has said that it has approved the laying of rail tracks in Maharashtra, Uttar Pradesh and Andhra Pradesh to decongest busy routes. As per reports, the CCEA, chaired by Prime Minister Narendra Modi, cleared the construction of an electrified third line between Manmad and Jalgaon in Maharashtra. Commenting on the issue, a Government Official told t

Government to build 10 pressurised nuclear reactors: Reports

The Indian Government has said that to ramp up nuclear power generation in the country it has cleared a proposal to build ten indigenous Pressurised Heavy Water Reactors. As per media reports, each reactor will have the capacity to produce 700 MW of electricity.

Commenting on the issue, Union Power Minister Piyush Goyal told the media, "A total of 7000 MW capacity will be added.

Government approves program for development of bio-pharma: Reports

The Indian Government has said that it has approved a programme for development of bio pharmaceuticals through industry-academia collaboration. The program will need an investment of Rs 1,500 crore over a period of five years.

Commenting on the issue, a Government Official told the media, “The programme will focus on development of specific products such as vaccines, biotherapeu

Apple begins production of iPhone SE model in India

In a bid to gain foothold in the fast-growing Indian smartphone market, Apple on Wednesday announced commencement of initial production of its popular iPhone SE model at its Bengaluru facility.

"We are beginning initial production of a small number of iPhone SE in Bengaluru. iPhone SE is the most popular and powerful phone with a four-inch display in the world and we'll

Cabinet approves new coal linkage policy

NEW DELHI  India approved on Wednesday a new coal linkage policy to ensure all power projects get adequate supply through a bid process or power purchase agreements, to help debt-laden generators which have had to import coal despite adequate domestic stockpiles.

Under the policy, state- and central government-owned power generating companies will be granted

Cabinet clears new coal linkage policy for power sector

The Union cabinet on Wednesday approved the introduction of a new coal linkage policy -- Shakti -- for the power sector.

According to the Union cabinet, Shakti -- Scheme for Harnessing and Allocating of Koyala (coal) Transparently in India -- has been envisaged to make optimal allocation of the natural resource across power units.

"Allocation of linkages for p

Cabinet approves agriculture research institute in Assam

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the setting up of an agriculture research institute in Assam, to help spur growth in north eastern states.

Briefing media on the Cabinet decisions, Union Minister Piyush Goyal said the government had plans to bring a green revolution in the north-east region and the new Indian Agricultural Research In

CCEA gives nod to new coal linkage policy

A new coal linkage policy to ensure adequate supply of the fuel to power plants through reverse auction received approval of the Cabinet Committee on Economic Affairs, reported PTI. "The CCEA approved a policy for providing linkages to power plants," official sources said.

The new coal linkage policy for power plants will help producers ensure fuel supplies in an organised m

India poised to lead IoT industry: IT Secretary

 India understands the potential of technology and should aspire for nothing less than a leadership role when it comes to adopting Internet of Things (IoT) to improve efficiencies across different sectors, a senior bureaucrat said here on Wednesday.

Launching the second edition of the 'IoT India Congress 2017', Information Technology Secretary Aruna Sundararajan said

Weak April MHCV sales reflective of possible MHCV ind downturn: Ind-Ra

The Medium and Heavy Commercial Vehicle (MHCV) segment posted a 55 per cent yoy and 73 per cent mom decline in domestic sales volumes in April 2017, which is disconcerting and reflective of the possible MHCV industry downturn, says India Ratings and Research (Ind-Ra). MHCV sales volumes traditionally have displayed a sharp month on month decline in the month of April, due to highest annual sale

IT sector `robust`, layoffs part of appraisal process: Government

The government today sought to allay fears of large scale layoffs by tech firms in India saying the IT sector remains "robust" and is, in fact, moving beyond plain-vanilla back office services to highly skilled jobs. IT Secretary Aruna Sundararajan said the IT companies have assured that there is "nothing unusual" this year and decision to not renew some contracts were part

RBI slaps Rs 1 lakh fine on Yeshwant Nagari Sahakari Bank

The Reserve Bank of India has imposed a monetary penalty of Rs 1 lakh on Yeshwant Nagari Sahakari Bank Ltd, Latur, for violation of the Know Your Customer and RBI instructions.

“The Reserve Bank of India has imposed a monetary penalty of ? 1.00 lakh (Rupees one lakh only) on Yeshwant Nagari Sahakari Bank Ltd., Latur, in exercise of powers vested in it under the provisions of Sec

India smartphone mkt recovers from note ban, grows 4.7% in Q1

India's smartphone market seems to have recovered from the impact of demonetisation with sales growing by 4.7 per cent to 27 million units in January-March 2017 compared to the previous quarter, says a report. The first quarter of the year saw smartphone shipments growing at "healthy" 14.8 per cent over the year-ago period, the report by research firm IDC said.

The gover

Foxconn asks for 13 acre land in JLN Port Trust's SEZ: Minister

The Indian Government has said that Taiwan-based IT major Foxconn has asked for 13 acre land at Jawaharlal Nehru Port Trust's special economic zone (SEZ). As per reports, the contract manufacturer makes products for global device brands like Apple, BlackBerry, Amazon, Motorola, Xiaomi and Sony and has bulk of its factories in China.

Commenting on the issue, Union Minister Nitin Ga

Railways unveils projects for smoother travel in Mumbai local

The Indian Railways has said that it has inaugurated several projects, including foot overbridges and escalators, to make travel more pleasurable for the over 75 lakh daily commuters on Mumbai's local trains.

Commenting on the issue, Rail Minister Suresh Prabhu told the media, "Our focus is on improving passenger experience. Through these measures, we have fulfilled the long-

Government wants Air India to survive: Civil Aviation Minister

Civil Aviation Minister Ashok Gajapathi Raju has said that Air India's books are bad and business as usual is not going to help it, but the Government wants the airline to survive. Commenting on the issue, Civil Aviation Minister Ashok Gajapathi Raju told the media, "Air India is a lovely airline.

It has all legacy issues. Its finances are very bad...The books are so bad that

India Grid Trust garners Rs 1,012 cr from anchor investors

India Grid Trust, an infrastructure investment trust (InvIT), raised over Rs 1,012 crore from anchor investors ahead of its initial share- sale offer opening today.

The InvIT, sponsored by Sterlite Power Grid Ventures Ltd, has allotted 10.12 crore units on an average price of Rs 100 to 19 anchor investors for a sum of Rs 1,012.44 crore, it said in a statement.

Among the anch

New guidelines for labelling of packaged food soon: FSSAI

Food regulator FSSAI said it will soon come out with new regulations relating to labelling of packaged food products and incorporate the expert panel's suggestions for reducing consumption of fat, sugar and salt, reported PTI.

The Food Standards Authority of India Safety and (FSSAI) will also frame a definition of junk food, its CEO Pawan Kumar Agarwal said. Asked whether the

Railways to monetise available data

The Indian Railways will monetise the huge amount of data available with it but will ensure that no privacy law is compromised while doing so, Rail minister Suresh Prabhu said. The public transporter has been using information technology extensively for the past three decades.

As a result, a large amount of data is available for aspects like passenger ticketing and freight operations

India ranked 2nd in EY renewable energy attractiveness index

India has moved up to the second spot from third position in this year's 'Renewable energy country attractiveness index' released by EY. This is primarily due to a combination of strong government support and increasingly attractive economics, EY said in a statement.

According to the statement, India continued its upward trend in the index to second position with the gover

Not correct to assume IT industry going for big job cuts: Government

The government said IT industry has assured it that there will be no large scale job losses in the technology sector which continues to demonstrate 8-9 per cent growth, reported PTI. IT Secretary Aruna Sundararajan said there could be some cases were contracts are not renewed as part of the regular annual appraisal cycle. Besides, she said, the industry is also undergoing a shift in the job pro

Government gold schemes fail to attract people: IGPC IIMA study

Various gold investment and savings schemes such as the Gold Monetisation Scheme floated by Central government has met with little success due to lack of awareness among the masses, according to a recent study. The study was conducted by researchers of Institute for Financial Management and Research (IFMR) and funded by India Gold Policy Centre (IGPC) of the Indian Institute of Management Ahmed

RBI to sell four dated government securities for Rs 15,000 cr on May 19

The Reserve Bank of India on Monday said that it will auction four dated government securities for Rs 15,000 cr on May 19, 2017. “The auction will be conducted using multiple price method,” said the RBI in a notification.

The RBI said that both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Ba