India should invest $ 45 bn to expand airport capacity: CAPA

A study by an aviation think-tank has said that India needs to invest up to USD 45 billion to create an additional capacity of handling 500- 600 million passengers at its airports by 2030 as their capacity is likely to saturate within the next five years. According to Centre for Asia Pacific Aviation (CAPA) estimates, the current capacity of the country's top 17 airports is between 298-316.

Rural people to get affordable life insurance services: Minister

The Minister for Communications Manoj Sinha on Friday launched the Sampoorna Bima Gram (SBG) Yojana and an initiative for expansion of clientele base of Postal Life Insurance. Talking to media after launching the schemes here, the Minister said that the vision of the Prime Minister Narendra Modi to provide banking services through the postal network needs to be taken forward to provide affordab

Pradhan to visit Japan for LNG meet, ink cooperation on gas

Petroleum Minister Dharmendra Pradhan will leave on Monday for a three-day visit to Japan where he will also sign an agreement with the island nation to cooperate in jointly developing a "liquid and flexible global LNG market" sharing technical knowhow in the area, an official said on Sunday.

"The visit is important to enhance the bilateral engagements in the oil and ga

Issues with Iran, including oil payments, resolved: Arun Jaitley

 Most of India's pending issues with Iran, especially those relating to payment for import of Iranian oil, have been resolved, Finance Minister Arun Jaitley has said.

"There were several pending issues with Iran, particularly relating to the oil payment. Most of them have been resolved," he told reporters on Saturday following a meeting here with Iranian Finance Min

Bring real estate sector under GST, Sisodia tells Jaitley

Real estate sector should be brought under the ambit of the Goods and Services Tax (GST), Delhi Deputy Chief Minister Manish Sisodia told Union Finance Minister Arun Jaitley on Sunday.

In a letter to Jaitley, Sisodia, who holds the Finance portfolio, said that the matter should be part of the agenda for the next GST council meeting scheduled for November 9. 

Referring t

Pent-up GST demand expected to boost Diwali sales of consumer durables

With Diwali around the corner, industry players are betting big on sales of consumer durables like 4K smart TVs and larger appliances like washing machines, which are expected to see a surge in sales this festive season compared to a year ago.

Industry stakeholders say many consumers seek to make costly purchases at such times.

"Festive season is very important in terms

CIL's coal production grows 13% in October so far

 Coal India Ltd (CIL) on Friday said its production grew by 13 per cent in October so far and the growth in coal dispatch to power sector was around 22 per cent till Thursday.

"Union Coal Minister (Piyush Goyal) complimented the employees of CIL for their diligence and perseverance for achieving 10.1 per cent growth in coal production for September 2017 and 13 per cent growt

Hexagon developing solutions for Indian smart cities

Hexagon AB, a global provider of information technology solutions, is integrating various technologies to come out with customized solution for Indian smart cities, the company's India head said on Friday.

The Swedish company is working on the major initiative where all its businesses are coming together to develop strong solutions on smart city.

Pramod Kaushik, Presiden

Old diesel vehicles can run in some areas of UP, says NGT

The National Green Tribunal (NGT) on Friday provided a three-year breather to over 10-year-old diesel vehicles which carry essential goods like food and petroleum around Uttar Pradesh's Muzaffarnagar and Bulandshahr.

The bench, headed by Justice Swatanter Kumar, however said that the trucks will not be allowed inside the National Capital Region and they will have to convert to CNG

India`s trade deficit narrows to 7-month low of $8.98 billion in September

NEW DELHI  - India's trade deficit narrowed to $8.98 billion in September, its lowest in seven months, government data showed on Friday.

The deficit was $11.64 billion in August.

Merchandise exports for September rose 25.67 percent from a year ago to $28.61 billion, mainly driven by a rise in export of engineering and oil products.

Goods i

Ministry allows mining in fragile coastal areas

Paving way to allow mining of atomic minerals, including the 'rare earth' mineral groups containing Uranium and Thorium, in the fragile and ecologically sensitive coastal areas, the Union Environment Ministry has relaxed the norms citing public interest and strategic applications.

The Ministry has thus also reconstituted the National Coastal Zone Management Authority (NCZM), a

Sampoorna Bima Gram Yojna launched, PLI initiative expanded

Communications Minister Manoj Sinha here on Friday launched the Sampoorna Bima Gram (SBG) Yojana and an initiative for expansion of clientele base of Postal Life Insurance.

Talking to media after launching the schemes, the minister said Prime Minister Narendra Modi's vision to provide banking services through the postal network needs to be taken forward to provide affordable life

IWAI raises Rs 660 cr through bonds

The Inland Waterways Authority of India (IWAI) has raised Rs 660 crore as "GOI Fully Serviced Bonds", which will be in addition to the budgetary support from the government, the Shipping Ministry said on Friday.

The proceeds from the Bonds are intended to be utilised by the IWAI exclusively for capital expenditure for development of National Waterways (NWs) under the Nationa

India-EU should work out beneficial aviation pact: Henrik Hololei

A top Official has said that India and the EU need to work out a long-term comprehensive agreement on aviation safety and modernisation of air traffic management to enhance cooperation. Commenting on the issue, Henrik Hololei, director general for mobility and transport at European Commission told the media, “The agreement has to be mutually beneficial.

The comprehensive agreeme

KoPT allocates Rs 45 cr for port roads development: Reports

The Kolkata Port Trust (KoPT) has said that it has allocated Rs 45 crore for three years for the development of city roads that fall under its jurisdiction. Commenting on the issue, a KoPT Official told the media, “In the current financial year, the KoPT was planning to take up the repair and renovation work of a 10-km stretch, covering Transport Depot Road, Oil Installation Road, New Roa

Foreign tourist arrival grows 19% in September

The numbers of Foreign Tourist Arrivals (FTAs) on e-Tourist Visa were 7.23 lakh as compared to FTAs of 6.08 lakh in September, 2016 and 5.43 lakh in September, 2015, registering a growth of 18.8 per cent compared to 12.1 per cent in 2016 over 2015. The percentage share of FTAs in India during September 2017 among the top 15 source countries was highest from Bangladesh (29.65%) followed by USA (

India`s energy needs to double in next 6-7 yrs: R.K. Singh

Union Minister of State for Power and New and Renewable Energy (NRE), R.K. Singh has said that India’s energy needs are going to double in the next 6-7 years at the present rate of growth of the economy. Nevertheless, India would continue to grow at a brisk pace and at the same time, decrease its carbon footprint so as to maintain its commitment towards giving the future generations a cle

Land pooling in Delhi further simplified

Land pooling in Delhi, expected to meet the rising demand for residential and other needs besides stimulating economic growth is now further simplified for speedy execution, according to a statement released by the Ministry of Housing & Urban Affairs. Delhi Development Authority (DDA) will now act more as a facilitator and planner as against the role initially envisaged for it as a part of

Government provides clarity on tax rate on leasing of vehicles

In order to provide relief to old/existing leases of motor vehicles, GST Council in its 22nd Meeting held on the 6th October, 2017 in the national capital took several decisions in respect of motor vehicles purchased and leased prior to 1st July, 2017. These decisions includes, leasing of vehicles purchased and leased prior to 1st July, 2017 would attract GST at a rate equal to 65 per cent of t

Indian back office services posted $30 billion in FY 2017: Nasscom

The back office services sector posted about $30 billion revenue in2016-17, with 12 lakh employees, said the Indian IT industry apex body Nasscom on Thursday.

"The Indian Business Process Management (BPM) or back office services sector remains the world's largest base, with $30 billion (Rs.1,95,000 crore) revenue and 12-lakh employees in 2016-17," Nasscom Chairman Raman

Prabhu kick-starts “Make in India: Sweden 2017”

Minister of Commerce & Industry Suresh Prabhu kick-starts “Make in India: Sweden 2017” with series of industry and government meetings. Make in India: Sweden 2017, organized by the Department of Industrial Policy and Promotion in Stockholm, from October 12-13aims to enhance Indo-Swedish cooperation and explore new areas of partnership. Several run-up events and high level meetin

India among fastest growing medical tourism destinations: Official

 Estimating that medical tourism in the country can grow to become a $9 billion industry by 2020, a government official on Thursday said India is among the "fastest growing medical tourism destinations in Asia".

"During the early days of medical tourism, the attention was always given to developed countries," said Rita Teaotia, Secretary, Ministry of Commerce.

Leasing vehicles purchased before July 1 to attract 65% GST

In order to provide relief to old/existing leases of motor vehicles, the GST Council has decided that the leasing of vehicles purchased and leased prior to July 1 would attract 65 per cent of the applicable GST rate (including compensation cess).

Sale of vehicles by a registered person who had procured the vehicle prior to July 1 and has not availed any input tax credits of central ex

Kerala to launch chit fund for diaspora to finance highways

The Kerala government aims to raise Rs 10,000 crore from non-resident Keralites (NRK) by launching a chit fund scheme 'Pravasi chitti' to finance two new highways extending to nearly 1,900 km, said Chief Minister Pinarayi Vijayan here on Thursday.

The government will also hold a meet in January to address the problems faced by the diaspora given the slowdown in the global econ

Industrial output up 4.3 percent in August

NEW DELHI - India's industrial output grew 4.3 percent in August from a year earlier, government data showed on Thursday.

Economists surveyed by Reuters had forecast 2.4 percent growth in output compared with a revised 0.9 percent year-on-year increase in July.

(Reporting by Manoj Kumar; Editing by Malini Menon)