New biofuel policy in the works, eyes Rs 1 lakh cr investment

The government plans to bring a new policy to promote use of biofuels in transport fuel that will catalyse Rs 1 lakh crore of investment in the entire value chain, Oil Minister Dharmendra Pradhan said as per the PTI report. India imports 80 per cent of its crude oil needs and use of biofuel extracted from non-edible oils will help meet the target of reducing imports by 10 per cent by 2022, he s

Sweden set to become key destination for Indian IT cos: Nasscom

Sweden is poised to become a key destination for Indian IT companies, helped by factors like large spending on IT services and high rate of innovation, a report by industry body Nasscom said as per the PTI report. The report titled 'Sweden a key driver of Nordic ICT growth' found that along with having a higher GDP growth compared to the European Union average, the Nordic countries cons

Apple`s stance on DND app issue unreasonable: Trai chief

Trai Chairman R S Sharma today expressed his disappointment with the "unreasonable" stance of Apple not allowing the regulator's pesky call reporting app on the iOS platform and asserted that the issue is about users having control over their own data and not one of privacy, reported PTI. Sharma told PTI that in last few days, ever since the issue was flagged by the regulator, the

Rockman Industries to set up Rs 540 cr plant in Andhra

 Rockman Industries Ltd, an auto components manufacturer, will up an aluminium die-casting plant in Chittoor district of Andhra Pradesh with an investment of Rs 540 crore.

Chief Minister N. Chandrababu Naidu on Thursday accepted their proposal. The proposed investment will be made over six years, generating 1,600 direct jobs.

V. Veerappan, Director of Rockman

Bill to universalise minimum wages introduced in Lok Sabha

The government on Thursday introduced in the Lok Sabha a bill to universalise minimum wages in the country.

The Code of Wages, 2017 bill seeks to combine Payment of Wages Act 1936, Minimum Wages Act 1948, Payment of Bonus Act 1965 and Equal Remuneration Act 1976.

N.K. Premachandran, of the Revolutionary Socialist Party (RSP), opposed the introduction of the bill an

Japanese firm to invest Rs 1,000 cr in Andhra

Toray Industries Inc, a Japanese multinational corporation, will invest Rs 1,000 crore for the manufacture of technical textiles in Andhra Pradesh.

Chief Minister N. Chandrababu Naidu on Thursday approved the project, which will come up in Sri City, a special economic zone in Chittoor district.

The plant will be the largest among Japanese units in Sri City.

Lok Sabha passes bill facilitating merger of SBI subsidiaries

The Lok Sabha on Thursday passed a bill to facilitate merger of five associate banks with the State Bank of India.

The State Banks Repeal and Amendment Bill, 2017, repeals two Acts -- State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956.

These Acts established the State Bank of Bikaner, State Bank of Mysore, State Bank of Patiala,

Supreme Court refuses to halt auction of Sahara`s Aamby Valley property

The Supreme Court on Thursday declined the plea of Sahara chief Subrata Roy to put on hold the auction of Aamby Valley.

Refusing to postpone publication of sale notice for Aamby Valley on August 14, a bench headed by Justice Dipak Misra allowed the liquidator to go ahead with the auction.

The Sahara Group had moved the apex court and sought to push back the publication of sa

44 economic corridors identified under Bharatmala project

The government has identified 44 Economic Corridors of an aggregate length of 26,200 km for development or improvement under the Bharatmala Pariyojna, parliament was informed on Thursday.

In a written reply in the Lok Sabha, Minister of State for Road, Transport, Highways and Shipping Pon Radhakrishnan said that 9,000 km of Economic Corridors is proposed to be developed under the firs

Gems & jewellery Quarterly result exports rise 4%

Gems and jewellery exports grew by about 4 per cent to USD 9.17 billion during the first quarter of the current fiscal, driven largely by demand in major markets like the US, reported PTI. In the April-June quarter of last financial year, the sector's exports aggregated to USD 8.84 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC).

The labour

Government to finalise plan on Pawan Hans divestment soon: Reports

The ministry of civil aviation has said that it is in the last stages of preparing the modalities of disinvestment of state-run helicopter operator Pawan Hans and will send its proposal for evaluation within a week. As per reports, in October last year, the Cabinet Committee on Economic Affairs (CCEA) had given its in-principle approval for strategic disinvestment of profit-making Pawan Hans.

IMG to discuss telecom issues on Aug 11: Reports

A Government Official has said that the inter-ministerial group on telecom issues is likely to meet on August 11 to discuss measures to ease the financial stress in the sector. As per reports, the meeting was previously scheduled for August 14 and 16 but it is now likely to be held on August 11. Commenting on the issue, a Government Official told the media, "This will be an internal meetin

All households to be electrified before 2022: Piyush Goyal

All households in the country will be electrified before August 15, 2022 and all villages before May next year, the Lok Sabha was informed today. Power minister Piyush Goyal said the government has set a deadline of August 15, 2022 for electrification of all households in the country and May 2018 for the electrification of all villages. Goyal said he was happy to announce that the government wi

Government sets mechanisms to tap full potential of textile sector

The government said it has set up institutional mechanisms including a task force, an inter-ministerial synergy group and a steering committee to realise the full potential of textile sector. The inter-ministerial synergy group on man-made fibre (MMF) chaired by the textiles secretary will formulate policy interventions to enhance the growth and competitiveness of MMF industry in the country.

No renewal of insurance for vehicles without PUC: Supreme Court

In a bid to curb pollution, the Supreme Court today issued a slew of directions including that insurance companies will not renew insurance of a vehicle unless the owner provides pollution under control (PUC) certificate, reported PTI. A bench headed by Justice Madan B Lokur also asked the Ministry of Road Transport and Highways to ensure that all fuel refilling centres in the National Capital

India set to unveil new biofuel policy in bid to cut oil, gas, coal imports: minister

NEW DELHI - India will soon announce a new policy to promote biofuels as part of efforts by the world's third-largest emitter of greenhouse gases to cut imports of fossil fuels like oil, gas and coal, a government minister said on Thursday.

The government aims to develop a biofuel economy worth 1 trillion rupees ($15.6 billion) in the next two years, Oil Minister

Cos garner Rs 3,700 cr via NCDs in April-July FY`18

Three companies raised Rs 3,700 crore through retail issuance of non-convertible debentures (NCDs) in the April-July period of the ongoing fiscal to meet their business expansion plans. In comparison, five companies had collected Rs 2,400 crore through this route in the April-July period of 2016-17. The funds have been mobilised for business expansion, supporting working capital requirements an

Ministries want cut in biodiesel GST, biofuels policy

The Union Petroleum and Road Transport Ministries will ask for a reduction in GST on biodiesel from the current 18 per cent to 5 per cent and a note on a new policy on biofuels is to be placed for cabinet approval soon, it was announced on Thursday.

"Along with Petroleum Minister Dharmendra Pradhan, we will jointly request Finance Minister Arun Jaitley to reduce the 18 per c

NCERT portal for online books launched

Minister of State for Human Resource Development Upendra Kushwaha launched the NCERT web portal for the supply of textbooks to schools and individuals here in the national capital. Schools can order these books by entering their Board's affiliation number and other details till September 8 for the session 2018-19, a statement from the ministry said.

The web service would soon be l

Writing off Air India debt can be a wise move: Arvind Panagariya

Outgoing Niti Aayog Vice Chairman Arvind Panagariya has said that writing off some debt of Air India, so as to make it attractive to prospective investors, could be a wise move, said media reports. As per reports, following a suggestion by Niti Aayog, the government is attempting to privatise the state-owned carrier and a committee has been set up under Finance Minister Arun Jaitley to carry fo

Jio feature phone scheme a `short term` hiccup

The bundled three year Rs 1500 refundable feature phone offer by Jio will create only a 'short term' hiccup when launched, feel at least two mobile handset makers, reported PTI. "So far there is no impact on our sales. We think it will affect our market as a short term hiccup once the Jio feature phone is launched but it will not be anything severe," leading feature phone comp

Trai seeks view on data ownership, privacy to check misuse

Trai has floated a paper on developing a framework that can give people more control over their personal data and prevent chances of misuse by various sources amid lingering privacy concerns, reported PTI. "It is important to have a clear policy related to data ownership, data protection, privacy and security in the telecom space," Trai Chairman R S Sharma told PTI.

He said

Vinay Dube joins Jet as CEO

 Full-service passenger carrier Jet Airways on Wednesday announced the appointment of Vinay Dube as its CEO after the receipt of all requisite government and regulatory approvals.

The company's Board of Directors at their last meet held on May 30, 2017 had approved Dube's appointment. Dube's last assingment was with Delta Airlines as its Senior Vice President-Asi

Ensure all traders registered under GST, Modi tells collectors

Prime Minister Narendra Modi on Wednesday asked District Collectors across India to ensure that each trader is registered under the Goods and Services Tax (GST).

Addressing the officials through video-conferencing on the theme "New India - Manthan", he said that they should explain to traders in their districts how GST is a "Good and Simple Tax", an official r

Anti-dumping duty levied on 93 Chinese products: Minister

India has imposed anti-dumping duties on 93 products imported from China, Parliament was informed on Wednesday.

"Anti-dumping duty is in force on 93 products imported from China," Commerce Minister Nirmala Sitharaman told the Rajya Sabha in a written reply. 

These products include chemicals, machinery, steel and other metals, fibres, yarn, rubber, plastic, ele