Three lakh shell companies uncovered: Narendra Modi

More than three lakh "shell companies" set up to facilitate generation of black money have been unearthed by the government, Prime Minister Narendra Modi said on Tuesday.

"The drive against black money has led to the discovery of many shell companies. Following demonetisation, over three lakh companies have been found which are nothing but shell companies," Mo

Rise in number of cases under investigation in 2016-17: Sebi`s annual report

Market regulator Sebi on Monday reported a rise of 84.21 per cent in the number of cases it took up for investigation during 2016-17.

According to the regulator's annual report 2016-17 which was released on Monday, 245 new cases were taken up for investigation and 155 cases were completed compared to 133 new cases taken up and 123 cases completed in 2015-16.

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Chief Minister okays Rs 3,000 cr drinking water project for Amritsar

Punjab Chief Minister on Monday announced welfare and development schemes for Amritsar, including a Rs 3,000 crore World Bank-aided project to provide safe drinking water in the Sikh holy city.Amarinder Singh

The Surface Water Scheme will replace the existing Ground Water Based Drinking Water Supply Scheme, thus addressing a serious concern of the region, which is facing severe d

Telephone subscribers in India grew 0.49% in June

The number of telephone subscribers in India increased from 1,204.98 million at the end of May 2017 to 1,210.84 million at the end of June, showing a monthly growth rate of 0.49 per cent.

The urban subscription increased from 697.06 million at the end of May 2017 to 700.96 million at the end of June 2017, and the rural subscription also increased from 507.92 million to 509.88 mil

Gadkari launches several highway projects to decongest NCR

Union Road Transport and Highways Minister Nitin Gadkari on Monday inaugurated two National Highway projects in Gurugram aimed at decongesting the National Capital Region and also laid the foundation stone for two new projects.

The Minister inaugurated a four-lane flyover at Maharana Pratap Chowk on Mehrauli-Gurgaon Road and an eight-lane flyover at Hero Honda Chowk on NH-8, a st

NHAI to include soil stabilization, land protection wall for highways

In wake of massive landslide in Himachal Pradesh, the government has asked National Highway Authority of India (NHAI) to include soil stabilization, land protection wall, zeo static and slope stabilization in DPRs for highways in the State, according to an official statement.

J P Nadda Union Minister of Health and Family Welfare condoled the loss of lives in the landslide related acci

Railways to observe “Rail Swachhta Pakhwada” from August 16

Ministry of Railways is observing ‘Swachhta Pakhwada’ across its entire network from August 16 to 31 August 2017. This period was allotted to Ministry of Railways by the Nodal Ministry for ‘Swachh Bharat Abhiyan’ namely ‘Union Ministry of Drinking Water and Sanitation’. Detailed guidelines for the ‘Pakhwada’ have been formulated and circulated to

NHAI to start work to decongest Dhaula Kuan-Airport road

Nitin Gadkari, the Minister for Road Transport & Highways and Shipping will lay the foundation stone on August 14, for NHAI’s project to decongest one of Delhi’s most congested corridors which leads to Indira Gandhi International Airport.

The first bottleneck is junction of station road with NH8 in front of Metro station, according to a statement released by the Minist

RBI to auction GoI dated securities for Rs 100 bn on Aug 29

Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct sale of Government securities under Open Market Operations for an aggregate amount of Rs 100 billion on August 29, 2017 through multi-security auction using the multiple price method.

“There is an overall aggregate ceiling of Rs 100 billion for all the securit

Government to double nuclear power generation capacity: Minister

The Indian Government has said that it is looking at doubling the nuclear power generation capacity to about 14,000 MW. Commenting on the issue, Union minister Piyush Goyal told the media, "We have recently embarked on a plan to expand it by about 7,000 MW more and this will be through indigenously manufactured equipment. So, 10 units of 700 MW each we have proposed and we shall be investi

Investment in green energy should be calibrated: Survey

The Economic Survey has observed that investment in renewable energy should be made in a calibrated manner as social costs are high in promoting green energy, said media reports. As per reports, the mid-year Survey, introduced for the first time, has also taken a cautious stand on the impact of encouraging green energy on the banking sector which is struggling to deal with bad loans in stranded

Ceramic industry to double turnover to Rs 50,000 cr by 2020

India's ceramic industry is looking to almost double its turnover to Rs 50,000 crore by 2020, driven by rising domestic consumption and exports to the Middle-East, Europe and other newer destinations. The manufacturers are poised to compete with China in the global ceramic market, which is a lead exporter with 40 per cent market share, by expanding product portfolio and scouting for new geo

Telangana urges Centre to release funds for IT Investment Region

 The Telangana government on Sunday urged the Centre to release funds for Information Technology Investment Region (ITIR) as per a commitment made four years ago.

Information Technology Minister K.T. Rama Rao on Sunday wrote a letter to Union Information Technology Minister Ravi Shankar Prasad regarding what he said was the inordinate delay in the release of the promised fin

Indian insurance firms lag globally in digitisation: CII-PwC

Indian insurance companies are lagging their global counterparts in increasing investment in digital technologies and will need to adopt technology required to launch products that meet customer needs, a study by industry chamber CII said on Sunday.

"Global average investment in digital technologies is increasing over the years, while the insurance industry in India is lagging, b

Delhi Metro to augment passenger capacity by 200,000 by March 2018

With the construction of its Phase-3 nearly complete, the Delhi Metro is all set to accommodate more than 200,000 additional commuters on its network by March 2018. Besides the entirely new Pink and Magenta Lines, the DMRC (Delhi Metro Rail Corporation) will be adding 186 new coaches to the existing lines.

Calculated at 300 passengers per coach as cited by the transporter, the DMRC wi

Sahara`s `Aamby Valley' put up for auction

In a major setback to the Subrata Roy-owned Sahara Group, the Bombay High Court on Monday put up its prestigious Aamby Valley city properties in Maharashtra for public auction.

The Official Liquidator of the High Court for the Aamby Valley City in the twin hill stations of Lonavala-Khandala has set a reserve price of Rs 37,392 crore as part of efforts to partially recover the Sah

GST rate of 3% on gold too low: Economic Survey

The Goods and Services Tax (GST) rate of 3 per cent on gold was low and needs to be increased as it is consumed by the "very rich", feels Chief Economic Advisor Arvind Subramanian, the author of the Economic Survey.

According to the Economic Survey Volume II 2016-17, tabled in Parliament on Friday, "The tax on gold and jewellery products - items that are disproport

India`s medical tourism industry to grow exponentially: Official

India has gained popularity as a high quality medical care provider at affordable cost which can propel the country's medical tourism industry to grow exponentially, Rita Teaotia, Secretary, Ministry of Commerce, said on Friday.

Speaking at an event here to announce the launch dates for Advantage Healthcare India 2017, Teaotia said that apart from providing quality medical and med

Power bills to remain cheaper in Delhi: Minister

The Delhi government won't hike electricity rates this year, Power Minister Satyendar Jain said in the assembly on Friday.

The Delhi government is the only one in the country which hasn't hiked electricity rate in the past two years, he said while replying to a question by Leader of Opposition and BJP MLA Vijender Gupta.

The discussion became noisy when Gup

Government energy efficiency scheme to enable Rs 1000 cr investment by 2020

In a bid to save energy, Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power, to assist various ministries and departments to retrofit energy efficient appliances in all their premises across the country, according to a statement released by the Ministry of Finance. Currently, EESL is the implementation agency for the Buildings Energy Efficiency Progra

Government offices to retrofit energy efficient appliances

Considering the fact that majority of the government buildings are old constructions and, therefore, consume large amount of energy, the Ministry of Finance has issued guidelines for mandatory installation of energy efficient appliances in all Central Government buildings across India.

The Ministry, in a statement, has directed that usage of LED based lightings and energy efficient co

Illicit tobacco trade cost government Rs 9,139 cr

Illicit trade related to tobacco led to a loss of Rs 9,139 crore to the exchequer, a study released by FICCI on Friday has revealed.

The exchequer also bore losses due to illicit trade of mobile phones at Rs 6,705 crore and alcoholic beverages at Rs 6,309 crore, the FICCI report said. 

The study, by FICCI CASCADE (Committee Against Smuggling and Counterfeiting

Government has not written off any corporate loans: Finance Minister

The government has not written off even a single rupee of corporate loan, Finance Minister Arun Jaitley told the Lok Sabha on Friday.

The Minister was responding to a supplementary question by Congress member Deepender Singh Hooda, who said the government had written off around Rs 59,000 crore of corporate loans.

"The government has not written off even a sing

Tyre demand to grow 7-8 % in FY18 & FY19: ICRA

Tyre volume demand was expected to grow by seven to eight per cent during FY18' and FY19' on the back of higher OEM demand and stable replacement demand, ICRA report said. "Tyre volume demand is expected to grow by seven to eight per cent during FY18 and FY19 boosted by higher OEM demand and stable replacement demand, the report said.

Carbon black companies were also on e

Passenger car sales up 8.52% in July

Sales of domestic passenger cars increased by 8.52 per cent in July, as compared to the same period last year, data showed on Friday.

As per data furnished by the Society of Indian Automobile Manufacturers (SIAM), 192,773 passenger cars were sold in July, 2017 as compared to 177,639 units sold in July, 2016.

The off-take of other sub-segments such as utility vehicl