Cabinet clears IWAI raising Rs 660 cr via bonds in FY18

The Union Cabinet on Wednesday approved the revalidation of permission to raise Extra Budgetary Resource (EBRs) of Rs 660 crore as Government of India Bonds by Inland Waterways Authority of India (IWAI) in 2017-18. “The proceeds from the bonds will be utilized by IWAI for development and maintenance of National Waterways (NWs) under National Waterways Act, 2016 (effective from 12.4.2016).

Cabinet clears IRDAI signing pact for information exchange

The Cabinet gave ex-post facto approval for regulator Irdai's admission as a signatory to IAIS Multilateral Memorandum of Understanding amid increasing integration of financial markets, a release said as per the PTI report. International Association of Insurance Supervisors (IAIS) is a global framework of cooperation and information exchange between insurance supervisors.

"Th

BJP MP demands special Parliament session on farmer issues

 Claiming that loan waivers was not a permanent solution to problems faced by peasants, BJP's Lok Sabha member Virendra Singh 'Mast' on Wednesday sought a special session of Parliament to discuss various issues concerning Indian farmers.

"The Constituent Assembly drafted the Constitution of India. The same way, we should call a special Kisan Sabha to address

June`s domestic air passenger traffic up 20%

Domestic air passenger traffic rose by 19.98 per cent in June to 95.68 lakh from 79.75 lakh reported for the corresponding month of last year, official data showed on Wednesday.

On a sequential basis, total domestic air passenger traffic had risen by 17.36 per cent to 1.01 crore in May.

According to the data furnished by the civil aviation regulator Directorate Gen

Scientists working on indigenous technology for biofuels: Dharmendra Pradhan

Indian scientists are working to develop a new model of biofuels' use through application of indigenous technology and the government hopes to unveil some results of this research in the coming days, Petroleum Minister Dharmendra Pradhan told te Rajya Sabha during the Question Hour on Wednesday.

Under the government's ethanol blended petrol (EBP) programme, state-run oil

Indian government refiners to buy less Iran oil in 2017/18: oil minister

NEW DELHI - India's state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday.

Iran has offered a credit period of 60 days for oil purchases in the current fiscal year, Pradhan told lawmakers in a written response. In 2016/17, Iran had offered 90 days credit period.

The mi

Agriculture biggest strength of economy; bamboo policy soon: Nitin Gadkari

Terming agriculture as the biggest strength of Indian economy, Union Minister Nitin Gadkari today wondered how could the previous government spend Rs 70,000 crore for buying aircraft at a time when several states did not have irrigation facilities. Stressing on the need of agricultural diversification towards energy like manufacturing of ethanol, he said the government is likely to bring a poli

Anti-dumping duty likely on certain type of synthetic rubber

The government may impose anti- dumping duty of up to USD 266 per tonne on a certain type of rubber, used in items like footwear and conveyor belts, from EU, Korea and Thailand, reported PTI. Imposition of the duty is recommended by the Directorate General of Antidumping and Allied Duties (DGAD), an investigation arm of the commerce ministry, with a view to guard domestic players from cheap imp

India mulls buying coking coal from Canada: Minister

The Union Steel Minister Birender Singh has said that the government is considering strategic importance of Canadian coking coal for the Indian steelmakers, which are projected to increase in the future keeping pace with the increase in steelmaking capacity in India. During his Canada visit earlier this month, Birender Singh had extensive interaction with the Natural Resource Minister, Governme

Negative growth to slow down to 17% in Quarterly Result: FICCIs Survey

FICCI’s latest quarterly survey on manufacturing suggests slight improvement in the manufacturing sector outlook in the April–June quarter of the fiscal as the percentage of respondents reporting higher production in first quarter have increased vis-à-vis previous quarter. “The survey highlighted that the percentage of respondents reporting lower production has reduced

Fertilizers supply surpasses requirement in India: Governmenr

The availability of fertilizers far exceeds the requirement in India, said Union Minister of State for Chemicals and Fertilizers, Shipping, Road Transport & Highways, Mansukh L. Mandaviya. "Nowadays, scarcity of fertilizers has become a thing of the past in the country which has been possible due to the visionary policies of Prime Minister Narendra Modi," the Minister informed Lok

Lenovo unveils future-ready laptops for millennials in India

Aiming to provide powerful computing to millennials in India, Chinese technology major Lenovo on Wednesday unveiled new additions to its Yoga and Ideapad range of future-ready laptops.

Yoga 720 is available for Rs 74,500 and Yoga 520 for Rs 39,600. 

In the Ideapad series, Ideapad 720S, Ideapad 520S and Ideapad 320S are available for Rs 74,850, Rs 47,450 and Rs

Air passenger traffic expected to rise to 126 mn

The government expects a rise in domestic air traffic to about 126 million passengers during 2017-18, parliament was told on Tuesday.

"Going by the annual growth rate of 22 per cent (provisional) for the year 2016-17, the domestic air traffic, carried by scheduled Indian carriers, could reach about 126 million passengers during 2017-18," Minster of State for Civil Aviat

No `firm proposal` for biometric flight boarding system : Jayant Sinha

There is "no firm plan" to introduce a biometric system for boarding planes, Union minister Jayant Sinha said in the Rajya Sabha according to the PTI report. The statement comes a month after the Ministry of Civil Aviation said within three to four months, it would be mandatory for air travellers in the country to provide unique identification (UID) like Aadhaar card, passport or PAN,

India-Russia JV for Kamov choppers registered, negotiations on

An Indo-Russian joint venture to manufacture 200 Kamov military helicopters in India under a $1 billion deal has been registered in India and it will finalise the delivery schedule and the number of units, officials from Russian Helicopters, part of State Corporation Rostec, said.

Interacting with a select group of journalists on the sidelines of the International Air show MAKS in Mos

Tourism sector saw around 23% increase in FEEs in June: Government

The tourism sector had witnessed an increase of around 23 per cent in foreign exchange earnings (FEEs) in June 2017 over June 2016, the government said as per the PTI report. According to a statement from the tourism ministry, FEEs in June, 2017 amounted to Rs 13,088 crore as compared to Rs 10,677 crore in June, 2016 and Rs 9,564 crore in June, 2015. The rate of increase in FEEs in June 2017 ov

Telecom regulator recommends 50% cut in VSAT entry fee

The Indian telecom regulator has recommended that the entry fee of captive VSAT licence be reduced by 50 per cent from Rs 30 lakh now to Rs 15 lakh, an official said on Tuesday.

"The entry fee for captive VSAT licence may be reduced by 50 per cent, that is, from Rs 30 lakh to Rs 15 lakh," the Telecom Regulatory Authority of India (TRAI) said in statement here.

India`s digital economy to be $1 trillion in 5-7 years

 Union IT Minister Ravi Shankar Prasad on Tuesday said India's digital economy is going to be $1 trillion in the next 5-7 years from the current size of $400 billion.

"India's digital economy is currently $400 billion and in the coming 5-7 years, it is going to become a $1-trillion economy," the minister said at a session organised by the Indian Chamber of

Aviation Ministry has no info on Air India privatisation

 The Ministry of Civil Aviation does not have any information on the proposed privatisation of Air India, an RTI reply has revealed.

The Right to Information application was filed by Nutan Thakur, a social activist. She had requested the ministry to provide documents related to Air India's proposed divestment, including those exchanged between the ministry and different

AI part of almost every software by 2020: Gartner

Signifying the growing popularity of Artificial Intelligence (AI), global research firm Gartner has predicted that AI will be virtually pervasive in almost every new software product and service by 2020.

Owing to its market hype, almost all established software vendors are working to introduce AI into their product strategies which is creating considerable confusion in the proces

Major Port Authorities Bill to enhance efficiency of ports: Minister

The Minister of State for Shipping and Road Transport & Highways, Mansukh L. Mandaviya on Tuesday informed Rajya Sabha that the government has approved the draft Major Port Authorities (MPAs) Bill, 2016 to replace the existing Major Port Trusts Act (MPTA), 1963 to empower the 12 major ports to perform with greater efficiency on account of full autonomy in decision making. In a written reply

NITI Aayog plans to develop marine fisheries

The NITI Aayog has asked the Central Marine Fisheries Research Institute here to initiate a string of programmes for the development of marine fisheries in the country.

CMFRI director A. Gopalakrishnan has been asked to prepare a National Marine Fisheries Index (NMFI) to derive a comparative picture of marine fisheries development across maritime states, including the Andaman and Nico

Steel manufacturing cost to go up as power out of GST: Steel Ministry to PMO

The steel ministry has expressed concerns that cost of steel manufacturing will increase as electricity, being one of the major inputs, has been kept out of the Goods and Service Tax. The concerns were expressed at a recent meeting of the ministry with the Prime Minister's Office, a government official said. "Electricity being a major input for steel industry will increase the cost of

Pharma firms need more investment in R&D: S&P

S&P Global Ratings has said that Indian pharma firms need to increase investments in research and development and quality of manufacturing to comply with global regulatory standards and take on competition. Commenting on the issue, S&P Global Ratings credit analyst Vishal Kulkarni told the media, "We believe Indian pharma companies will feel growing pains, at least over the next tw

All-India House Price Index rises 10.5% in Q4 FY17: RBI

The quarterly House Price Index (HPI) (base 2010-11=100) for January-March period of 2016-17 increased by 10.5 per cent in 10 major cities, according to a data released by the Reserve Bank of India. The Reserve Bank on Monday released the quarterly House Price Index based on transaction data received from housing registration authorities in 10 major cities (viz., Mumbai, Delhi, Chennai, Kolkata