Rural electrification programme on track: Government

With over 13,000 of the total 18,452 villages electrified, the rural electrification programme is on track for completion within the targeted time-frame, the government said on Tuesday.

Over 22 lakh rural BPL (Below Poverty Line) households were electrified in 2016-17, and over 40 crore LED bulbs were distributed in the same period, officials told  Prime Minister Narendra Mo

India most promising growth market in the world: MeiTy

Secretary of Ministry of Electronics and Information Technology (MeiTy) Aruna Sundararajan has said that India is one of the most promising growth markets in the world.

"India is amongst the most promising growth markets in the world, and this makes it an attractive destination for all," Sundararajan was quoted as saying at the Annual West Coast Summit of the US-India Busine

Piyush Goyal visiting Austria, Britain for energy dialogue

 Power Minister Piyush Goyal is visiting Austria and Britain from May 10 to 13 to hold a energy dialogue, said an official statement.

On May 10, Goyal will participate in investors meet organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Austrian Federal Economic Chamber in Vienna.

"The Minister will deliver key note address at Vienna En

GP Strategies targets BFSI sector for growth

US-based GP Strategies Corporation, which acquired Indian digital education company Emantras for an undisclosed sum last month, is focussing on learning market potential in the Indian banking, financial services and insurance (BFSI) segment for growth, said a top official here on Tuesday.

The official also said the Indian subsidiary of the performance improvement solutions provider wi

Government sanctions Rs 565 cr for extension of Delhi Metro from Najafgarh to Dhansa Bus Stand

Government of India has approved the 1.18 km underground metro extension from Najafgarh to Dhansa Bus Stand at a cost of Rs 565 cr, according to a statement released by the ministry of urban development. The ministry said that Dhansa Bus Stand in the National Capital will be connected by Delhi Metro in the next three years.

This extension is scheduled for completion by Delhi Metro Rai

Prime Minister reviews performance of key infrastructure sectors

The Prime Minister, Narendra Modi, on Monday reviewed progress of key infrastructure sectors including petroleum and natural gas, power, renewable energy and housing. The review meeting, which came soon after the review of connectivity-related infrastructure sectors in the last week of April, noted that remarkable progress has been made in several sectors, including generation of renewable ener

India Ratings maintains positive outlook on education sector in FY18

India Ratings and Research (Ind-Ra) has maintained a positive outlook on educational institutions for this financial year as the sector has the potential to grow due to a huge demand-supply gap. The rating agency expects their profiles to remain healthy during the year, on account of growing enrolments and improving profit margins.

In addition to new educational institutions, even the

Cisco to work with Andhra to make small business easy

Cisco Systems, a world leader in IT and networking, will work with Andhra Pradesh to make starting a small business easy.

This was agreed when Chief Minister N. Chandrababu Naidu, currently on a visit to the US, called on John Chambers, Executive Chairman and former CEO of Cisco Systems, on Monday.

Naidu and the delegation he is leading visited the Cisco office at San Jose o

Agra builders want private sector role identified

A forum of builders here has urged the Uttar Pradesh government to speed up the proposal for land pooling to make more areas available for construction of houses.

Agra City Real Estate Development Organisation (REDCO) said this at a meeting late on Monday night while welcoming the Real Estate Regulatory Act 2016 (RERA). 

The builders demanded single window clearances fo

Investment to deleverage infrastructure sector by nearly Rs 130 bn in FY18

The first four infrastructure investment trusts (InvITs) which are likely to hit the primary markets in FY18 could reduce the overall debt of sponsor groups by close to Rs 130 billion; thereby providing cash flow relief to the beleaguered sector, says India Rating and Research (Ind-Ra).

According to Ind-Ra, the companies which are likely to deleverage by using the InvIT route in FY18

April passenger cars sales surge 17%: SIAM

Domestic passenger cars' sales rose by 17.36 per cent in April, industry data showed on Tuesday.

As per the data furnished by the Society of Indian Automobile Manufacturers (SIAM), sales of passenger cars surged to 190,788 units from 162,566 sold in April 2016.

The off-take of other sub-segments such as utility vehicles rose by 13.71 per cent during the month under revie

Government to bring 200 airports under regional connectivity scheme: Minister

The Indian Government has said that it is planning to bring 200 airports under the regional air connectivity scheme. Commenting on the issue, Union Minister of State for Aviation Jayant Sinha told the media, "Under the UDAN (Ude Desh ka Aam Naagrik) regional air connectivity scheme, 33 airports have been already included since its launch last year in addition to 75 taking the total to 108.

Affordable housing fin cos to have 40% CAGR in next 4 years

Pure-play affordable housing finance companies are poised to grow at a CAGR of 40 per cent over the next four years, mainly on the back of the initiatives taken by government to give a boost to the sector under its housing for all by 2022 programme, says a report.

According to a Crisil report, new pure-play affordable home loan players have seen their assets under management jumping 5

Government to increase LPG coverage by OMCs to 82%: Reports

The Indian Government has said that after increasing the LPG coverage by oil marketing companies (OMCs) to 72.84 per cent in the last fiscal, the Petroleum Ministry plans to increase it to over 82 per cent by the current fiscal's end and over 95 per cent by 2018-19. Commenting on the issue, a Government Official told the media, "The all India LPG coverage by OMCs in the country has ris

India to become 3rd biggest solar market: Reports

A report by Bridge to India  I has said that India will become the third biggest solar market globally in 2017. According to India Solar Handbook 2017 by Bridge to India, a consulting and knowledge service provider in the clean technology market, with 8.8 gw (giga watt) of projected capacity addition -- a growth of 76 per cent over 2016 -- India is set to become the third-largest photovolt

Japan, India to strengthen defence cooperation

Japan and India has affirmed plans to strengthen their military cooperation amid rising tension in the Asian region. Indian Defence Minister Arun Jaitley told his Japanese counterpart, Tomomi Inada, in Tokyo that his country hopes to pursue a strategic partnership with Japan for regional peace and stability.

His visit comes at a time of rising tension in the region, including territor

Tata Technologies to acquire Sweden's Escenda Engineering AB

 Engineering services company Tata Technologies on Monday said it has entered into a definitive agreement to acquire Swedish engineering and design specialist Escenda Engineering AB.

"The acquisition helps Tata Technologies accelerate its plans to expand in Europe due to the rapid growth opportunity the region offers in both the automotive and industrial machinery secto

New series of WPI, IIP to be released on Friday

The government on Monday said it will release new series of 'Wholesale Price Index' (WPI) and 'Index of Industrial Production' (IIP) with revised base year of 2011-12.

According to the Ministry of Commerce and Industry, the new series of WPI for April 2017 will be released on Friday, May 12.

Besides, the government will also release the IIP for Marc

RBI fixes rate of interest on floating rate bonds at 6.30%

Reserve Bank of India on Friday said it has set rate of interest on Floating Rate Bonds, 2024 at 6.30 per cent for the half year May 07, 2017 to November 06, 2017.

“The rate of interest on the Floating Rate Bonds, 2024 (FRB 2024) applicable for the half year May 07, 2017 to November 06, 2017 shall be 6.30 percent per annum,” the RBI said in a notification.

It may

RBI to sell 7 state government securities for Rs 8,900 cr on May 09

The Reserve Bank of India on Friday said it will auction seven state government securities for Rs 8,900 crore on May 09, 2017. “The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on May 09, 2017,” RBI said in a notification.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on t

Mutual Funds` asset base surpasses Rs 19 lakh cr mark

The mutual fund (MF) industry's asset base has crossed the Rs 19 lakh crore mark in April on the back of fresh inflows in equity, debt and money market segments.

The assets under management (AUM) of the MF industry, comprising 42 players, rose to an all-time high of Rs 19.26 lakh crore at the end of April from Rs 17.55 lakh crore at the end of March, as per the data from Associati

Volatile coking coal prices may put pressure on steel sector spreads: Ind-Ra

The volatility in input cost, mainly coking coal prices is likely to keep the steel sector spreads (difference between price and raw material cost) under pressure in FY18, says India Ratings and Research (Ind-Ra).

According to Ind-Ra, the price of coking coal, a key raw material restarted its up move in April 2017, after softening from the elevated levels of November 2016. Ind-Ra beli

DIPP, WIPO to set up technology and innovation support centers

The Department of Industrial Policy and Promotion (DIPP) and World Intellectual Property Organization (WIPO) have signed an agreement to establish technology and innovation support centers (TISC), according to an official statement released by the ministry of commerce & industry.

WIPO’s Technology and Innovation Support Centers (TISC) program provides innovators in developin

Finance Minister asks ADB to reduce time lag in loan approval and disbursal

India has urged the Asian Development Bank to reduce the time it takes to approve a loan as well as to disburse as the developing countries in the Asian region need to build their infrastructure and increase social sector spending.

Speaking at the business session of the ADB Board of Governors, Finance Minister Arun Jaitley also asked the multilateral lender to set up a regional hub i

Government begins multiple waterways transportation in WB: Reports

The Indian Government has said that it has started integrated cargo transportation along multiple waterways, with a cement consignment from the banks of Rupnarayan in West Bengal to Bhagalpur, Bihar.

Commenting on the issue, a Ministry of Shipping Official told the media, "MV VV Giri, a vessel of the Inland Waterways Authority of India (IWAI) began a landmark pilot movement on Ap