No order for fresh aircrafts till clarity on future: Air India

National carrier Air India has said that it will not place any order for new aircraft till there is clarity on its future course, including possible privatisation.

The airline, however, said all the existing orders will be respected and new aircraft are being added to the fleet. Commenting on the issue, Air India Chairman and Managing Director Ashwani Lohani told the media, "

Coal Ministry sets up GST cells for stakeholders: Reports

The Ministry of Coal has said that it has held a meeting to review preparedness of the stakeholders for the new tax regime and set up a facilitation cell. Besides, GST cells have been made operational in each of the PSU under the ministry.

Commenting on the issue, Ministry of Coal Official said, "With a view to facilitating implementation of GST for the stakeholders concerned, th

Ports to act as catalyst to achieve consistent growth: Amitabh Kant

NITI Aayog CEO Amitabh Kant has said that ports can act as a catalyst for India to achieve a consistent growth rate of 10 per cent. Commenting on the issue, NITI Aayog CEO Amitabh Kant told the media, “The Sagarmala programme is a game-changer.

Ports can act as the catalyst of growth and help in achieving 10 per cent consistent growth rate for the country, hence making Sagarmala

Top telecom leaders to meet Finance Minister amid mounting financial stress: Reports

Top telecom leaders, including Sunil Bharti Mittal, Kumar Mangalam Birla and Anil Ambani, are expected to meet Finance Minister Arun Jaitley and Telecom Minister Manoj Sinha on June 22 amid mounting financial stress in the sector, said media reports.

According to sources, the industry leaders will first discuss the current state of financial stress in the sector with Sinha and later i

Impoverishment of agri sector, loan waiver triggered protests: Experts

The almost deliberate impoverishment of the agriculture sector by successive governments, which has translated into poor returns to farmers, and the recent loan waiver decision by Uttar Pradesh appear to have triggered massive protests in many states, including Maharashtra and Madhya Pradesh.

Farmers are struggling hard to meet their input expenses due to a drop in prices of agricultu

SAIL-Arcelor Mittal joint venture to be formalised soon: Minister

 Steel Minister Chaudhary Birender Singh on Saturday said that the joint venture (JV) between state-run SAIL and Arcelor Mittal will be formalised soon.

He was speaking at a press conference here after holding a Consultative Committee meeting on achievements of the Steel Ministry during the last three years of the NDA government.

SAIL and Arcelor Mittal had si

Auto makers want government to keep GST rate on hybrids at 18%

Auto makers have asked the government to reduce GST rate on hybrid vehicles to 18 per cent, saying clubbing the eco-friendly automobiles with big luxury models is "incomprehensible".

As part of auto industry's representation to the GST Council, which will meet on June 11, automobile manufacturers have asked the government not to levy any cess on hybrid vehicles.

Textile units fret over 18% GST, fear job cuts

The textile industry has said it is worried over Government's decision to impose 18 per cent GST on manmade fibre as the levy will dent the margins of firms manufacturing synthetic yarn and could lead to job losses.

The industry is also uneasy about the effect on jobs like weaving, knitting, cutting and packaging, which it fears could hurt the small units badly. Manmade fibre fabr

Not cancelled unused credit lines to telecom sector: SBI

State Bank of India (SBI) said it has not cancelled unused line of credit to debt-laden telecom sector amid reports of tightening of screw by lenders, reported PTI. RBI recently asked banks to immediately review their exposure to the telecom sector, which has total debt of about Rs 4.6 lakh crore, and make higher provisions to firewall their business against any future stress.


Indian banks need up to Rs 95,000 crore capital infusion: Moody`s

Moody's Investors Service has said that weak capitalization levels will remain a key credit weakness for Indian public-sector banks, particularly in the context of the increasing requirements for equity under Basel III, and the limited ability of the banks to raise external capital.

Moody's Indian affiliate, ICRA Limited, says that the asset quality outlook for the Indian bank

Sustained economic growth to support Indian corporates and power sector: Moody`s

Moody's Investors Service, a global rating agency, has said that its stable outlook for non-financial corporates in India over the next 12-18 months reflects in large part the country's sustained economic growth.

Moody's Indian affiliate, ICRA Limited, says a revival in consumption demand, lower input costs and structural reforms will support a gradual recovery in the corp

Internet users to double to 829 mn by 2021: Report

Internet users in the country will double by 2021 to 829 million users from 373 million users in 2016, driven by digital transformation, said the recent report according to the PTI. This means roughly 59 per cent of the Indian population will use the internet. Also, there would be two billion networked devices in 2021 up from 1.4 billion in 2016.

Overall IP traffic is expected to grow

Government proposes unique ID to be made mandatory for flight booking

The government proposes to make it mandatory for Indian air travellers to provide a unique identification (UID) like Aadhaar, passport or PAN card at the time of booking tickets, Civil Aviation Minister Jayant Sinha said, while announcing the launch of the digital travel experience initiative - Digiyatra - for fliers.

"It is being proposed, for implementing after a period of 90 t

India`s retail inflation seen cooling to new record low in May: Reuters poll

By Vivek Mishra

 Inflation in India is expected to have cooled to a new record low in May, a Reuters poll found, which could add pressure on the Reserve Bank of India to cut interest rates later in the year.

The consumer price index likely rose 2.60 percent in May from a year earlier, dipping from 2.99 percent in April, due to a fall in the cost of pulses, cereals and p

Passenger vehicle sales grow 9%, car sales 5% in May

Domestic passenger vehicle sales grew 8.63 per cent to 2,51,642 units in May from 2,31,640 units in the same month last year. Car sales were up 4.8 per cent at 1,66,630 units as against 1,58,996 units in May last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).

Motorcycle sales last month rose 7.72 per cent to 10,60,746 units from 9,84,715 uni

Government to unveil analytics tool for future airfare trend: Reports

The Indian Government has said that it is planning to have an analytics tool that will provide future airfare trends in a transparent manner for passengers.

As per reports, the proposal is part of the Civil Aviation Ministry's efforts to ensure paperless and seamless air travel for the Indian aviation market, which is projected to be the world's third largest by 2022.

Railways acts upon 3,000 tweet complaints daily: Official

Rail Officials have said that the Railway Ministry's Twitter handle @RailMinIndia, which boasts of 2.7 million followers, has become an effective tool to redress passenger grievances, and acts upon 3,000 complaints daily.

Commenting on the issue, a senior Railway Board official told the media, “Also, the social media platform has become a contact point between the Railways a

Online banking to kill physical banks in 5-6 yrs: Amitabh Kant

Low cost Internet based transactions and business efficiency due to technology advancements are expected to kill physical banks in next 5-6 years, NITI Aayog CEO Amitabh Kant said as per the PTI report.

"My view is in next 5-6 years you will see death of physical banks. It will be very difficult for physical banks to survive because the cost of physical banks will be so enormous.

Suresh Prabhakar Prabhu inaugurates Railways 1st HR round table conference

Minister of Railways Suresh Prabhakar Prabhu on Thursday inaugurated Indian Railways' first human resources round table conference. On the occasion, Suresh Prabhu said that Railway is a large organization and for every big organization, it is necessary to revisit the basic issues, introspect them and bring a change to be competitive, versatile & efficient. People in the organization has

Coal imports dip 6% in May on weak demand from power sector

India's coal imports in May declined by 6 per cent to 18.15 million tonne (MT), year-on- year due to lacklustre demand from the power sector and sufficient supply of domestic fuel.

"Coal import (all type of coals) in May 2017 stood at 18.15 MT (provisional), against 19.38 MT in May 2016," according to mjunction services, an online procurement and sales platform floated j

Equity Mutual Funds inflows hit nearly 2-yr high of Rs 10,790 cr in May

Equity mutual funds saw an inflow of Rs 10,790 crore in May, making it the highest in nearly two years, underpinned by investor optimism and steps taken by fund houses to create awareness about MFs.

This also marks the 14th straight month of inflows into equity schemes. Prior to that, such funds had witnessed a pullout of Rs 1,370 crore in March 2016. The strong inflows have pushed th

Railways to save Rs 1500 cr in high-value purchase

The Indian Railways has undertaken a multi-pronged approach to save about Rs 1,500 crore in the procurement of high-value goods, including diesel, in the current fiscal.

The railways procures material worth more than Rs 50,000 crore annually to cater to the needs for production and maintenance of rolling stocks, signalling, tracks and fuel. Aiming at significant savings in procurement

CCEA okays 4 laning of Pandoh bypass to Takoli sec of National Highway-21

The Cabinet Committee on Economic Affairs (CCEA) has given its approval for the 4 laning of Pandoh bypass to Takoli section of National Highway (NH)-21 in Himachal Pradesh (HP).

The Ministry of Road Transport & Highways said in a statement that, “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved the four laning of Pandoh Byp

Industry gets 90 days to claim credit for GST transition stock

Traders and retailers can file declarations within 90 days claiming tax credit for transition stock after the GST rolls out from July 1. The draft transition rules for the Goods and Services Tax (GST) regime had pegged the time at 60 days.

The transition rules approved by the GST Council provides that "every registered person entitled to take credit of input tax shall, within 90