CEA advisory may boost profitability of domestic BTG manufacturers: India Ratings and Research

The recently issued Central Electricity Authority (CEA) advisory with regard to indigenous manufacturing of supercritical equipment and doing away of the deed of joint undertaking (DJU) in case certain conditions are met is positive for the domestic Boiler-Turbine- Generator (BTG) manufacturers, says India Ratings and Research (India Ratings).

India Ratings said that the effect of thi

Government urges CMS to meet real estate act timelines by April 30

With buyers entitled to seek relief under the Real Estate Act,2016 with effect from the first of May this year, the central government has cautioned the States of a serious situation of vacuum arising if necessary institutional mechanisms, as required under the Act were not put in place before that.

In the context of only four States and six Union Territories so far notifying the fina

Government IT spending to grow 9.5% in 2017: Gartner

Led by growth in business process outsourcing, the Indian government is set to spend $7.8 billion on IT in 2017 - an increase of 9.5 per cent over 2016, market research firm Gartner said on Monday.

This forecast includes spending on internal services, software, IT services, data centre systems, devices and telecom services. 

"Government spending on IT services will

MFs folio count climbs 62 lakh in April-January to record 5.4 cr

Driven by strong participation from retail investors, mutual fund (MF) houses have registered an addition of around 62 lakh investor accounts in the first 10 months of the current fiscal, taking the total tally to 5.4 crore, reported PTI. This follows addition of 59 lakh folios in 2015-16 and 22 lakh in 2014-15. In the last two years, numbers of investor accounts have increased following robust

Revisiting FTAs to protect local pharma, med devices sector

The government is reviewing and renegotiating existing free trade agreements (FTAs) India has signed with different countries to protect the domestic pharma and medical devices sector, Union Minister Ananth Kumar said as per the PTI report. He also said that most of the anomalies in inverted duty structure both in pharma and medical devices sector have been rectified.

"We are sen

Life insurers' first-year premium jump 28% in January

The new business premium of life insurance companies grew by 27.8 per cent to Rs 13,138.1 crore in January, compared with the year-ago month, said the media report. The new business, or the first-year premium of life insurance companies, stood at Rs 10,283.89 crore in January 2016. State-owned LIC, the country's largest life insurer, contributed Rs 8,724.59 crore or 66.4 per cent to the tot

FPIs turn net buyers in February; pump in Rs 5,800 cr

After four months of intense selling, overseas investors turned net buyers in February and have so far pumped in over Rs 5,800 crore in the capital market, enthused by clarity on FPI taxation. The latest inflow followed a net pullout of Rs 80,310 crore from equity and debt together in the past four months (October-January).

Prior to that, FPIs had invested over Rs 20,000 crore in the

M&A activity surges in January amid rising consolidation

Merger and acquisition activity in the country started the year on a bullish note with deals of around $2.3 billion being signed in January — a nearly three-fold jump over the year-ago period. According to assurance, tax and advisory firm Grant Thornton, there were 45 M&A deals worth $2,364 million in January this year. In January 2016, there were 42 such transactions amounting to $82

Equity MF inflow at Rs 4,900 cr in January; Rs 55,700 cr in FY17

Equity mutual funds saw an inflow of close to Rs 4,900 crore in January, taking the total fund infusion to about Rs 55,700 crore by 'optimistic' investors in the first 10 months of 2016-17 financial year, said the media report. This also marks the 10th straight month of inflows into equity schemes. Prior to that, such funds had witnessed a pullout of Rs 1,370 crore in March.

&

Government to amend norms to empower NPPA: Reports

The Indian Government has said that it will soon amend norms to empower National Pharmaceutical Pricing Authority (NPPA) to regulate about 350 medicines and ensure they are sold at affordable rates. At present, NPPA is not able to regulate 350 medicines, which are under the National List of Essential Medicines (NLEM), in the absence of market data.

Therefore, the authority needs to be

Government approves Rs 681 cr under electronic development fund: Reports

The Indian Government has said that it has approved Rs 681 crore as seed capital for building a total corpus of Rs over Rs 6,800 crore under the electronic development fund meant to support entrepreneurship and innovation in electronics and IT.

Commenting on the issue, Law and IT minister Ravi Shankar Prasad told the media, "My Ministry has approved Rs 6,831 venture fund for elec

IT spends by domestic banks to grow 10% in 2017: Gartner

Global analyst firm Gartner has said that IT spends by domestic banks and securities firms will grow nearly 10 per cent to USD 8.9 billion in 2017. Commenting on the issue, a Gartner Official told the media, "IT spending by banking and securities firms in India will reach USD 8.9 billion in 2017, an increase of 9.7 percent from 2016."

“This includes total enterprise IT

More investment required for regional exploration: Government

The Indian Government has said that there is a need for attracting investments and private exploration agencies in regional exploration. Commenting on the issue, a Government Official told the media, "Keeping in view the immense untapped mineral potential of the country, it was realised that there are many areas that need further facilitation."

“The compelling need to

M. Venkaiah Naidu urges states to provide logistics for Real Estate Act

Union Housing and Urban Poverty Alleviation Minister M. Venkaiah Naidu has urged the state governments to implement the Real Estate Act, 2016, in "letter and spirit" and provide all the institutional mechanisms needed to roll out the legislation from May 1.

In a letter to Chief Ministers, Naidu has urged them to take personal interest in ensuring implementation of the Act &q

Note ban was reason Raghuram Rajan left: P. Chidambaram

Former Finance Minister and senior Congress leader P. Chidambaram on Friday said that a five-page letter speaking against demonetisation was submitted to the Centre by "someone in the Reserve Bank of India" on the day Raghuram Rajan stepped down from the post of Governor of the apex bank.

Chidambaram dared the government to make the letter public.

Chidambaram made

Vishal Sikka turned around Infosys' fortunes: Investor fund

As the corporate battle between the Infosys' board and its founders raged over governance issues, leading institutional investor Oppenheimer Developing Markets Fund has defended Chief Executive Officer (CEO) Vishal Sikka for turning its fortunes since he joined in August 2014.

"In our opinion, Sikka has achieved much in his tenure as the first non-founder CEO. After years of

UBI scheme should have cut-off income limit: Kaushik Basu

The Universal Basic Income (UBI) scheme, mooted in the government's Economic Survey this year, should have a cut off income limit and those above it should be encouraged to give up the scheme up voluntarily, former Chief Economic Advisor Kaushik Basu has said.

"The Universal Basic Income scheme should give a cut off income & ask ones above it to voluntarily forego it. Tha

Fund raising via QIP down 67% to Rs 4,300-cr in April-November FY'17

Indian firms raised over Rs 4,300 crore through issuance of shares to institutional investors during April-November period of the current fiscal, a sharp plunge of 67 per cent from a year-ago period, reported PTI. The funds have been mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes.

Qualified Institutional Placeme

IT spending by banks in India to grow: Gartner

 IT spending by banking and security firms in India will reach $8.9 billion in 2017 -- an increase of 9.7 per cent from 2016, market research firm Gartner said on Friday.

Gartner predicted that IT services will grow the fastest at 13.8 per cent in 2017 as firms in the banking and securities industry invest more in business processes, specifically in business process outsourcing.&

Secunderabad, Vijayawada rail stations set for upgrade

Secunderabad and Vijayawada rail stations will be redeveloped with estimated investments of Rs 282 crore and Rs 194 crore, respectively, a senior official said. Under the Station Redevelopment Programme of Railways, Secunderabad and Vijayawada will receive Rs 282 crore and Rs 194 crore, respectively, for improving passenger amenities and providing other facilities, said South Central Railway (S

Leases of 300 mineral blocks to be auctioned in next fiscal: Reports

The Indian Government has said that 2017-18 would be the most important year for the mining industry as leases of around 300 mineral blocks would be auctioned during the fiscal. Commenting on the issue, Mines Secretary Balvinder Kumar told the media, "In 2017-18 nearly 300 mining leases should be put on auction by different states."

"The fiscal 2017-18 will see a very b

Government considering proposal to rename airports: Minister

The Indian Government has said that it is considering a proposal to rename airports, a move that could ruffle feathers politically as many of the aerodromes are named after political leaders and known personalities. Commenting on the issue, Minister of State for Civil Aviation Jayant Sinha told the media, "There is a proposal to rename airports... Cabinet is considering it."

Railways to set up institute on tunnelling in Goa

The Railways has joined hands with Switzerland for setting up a world class institute offering basic courses in tunnelling in rail and road sectors, a first in the country. The Railways is involved in some major tunnelling work in the border areas, including Tawang and Kashmir rail network.

The current requirement of tunnelling works in India is about 2,750 km. Konkan Railway Corporat

Government to scale up Post Office Passport Seva Kendra facilities

Enthused by success of two pilot projects on utilising the Head Post Offices as Passport Seva Kendra, the government has now decided to scale up this programme by opening 56 such facilities across the country.

The Ministry of External Affairs and the Department of Posts had earlier decided to join hands to deliver passport- related services to the citizens. MEA and Department of Posts

12,033 un-electrified villages have been provided with power: Minister

The Indian Government has said that as many as 12,033 villages out of 18,452 un-electrified villages have been provided with power till last week and the remaining ones would be electrified by May 2018. Commenting on the issue, Union Minister Piyush Goyal told the media, “4,220 Decentralised Distributed Generation (DDG) projects costing Rs 1,354.60 crore have been sanctioned till January