CCEA approves rail projects worth Rs 3,600 crore

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday approved rail projects including doubling and electrification of 349 km of tracks at a cost of Rs 3,616 crore involving important junctions like Madurai, Tirunelveli and Thiruvananthapuram.

The cabinet panel approved the construction of 102 km double, electrified line between Vanchi-M

IRCTC unveils book now, pay later scheme for tatkal tickets

People can now pay later for tickets booked under the tatkal quota on the Indian Railway Catering and Tourism Corp (IRCTC) website, it was announced on Wednesday. Till now, this service was available only for general reservations. For tatkal bookings, people had to pay first via the standard online payment gateways before the IRCTC portal confirmed their ticket.

For tatkal tickets, IR

Local assembling of smartphones to generate Rs 31,000 crore by 2019

India would increase its domestic localisation rate from 6.1 per cent in 2016 to 25.8 per cent in 2019 that will bring Rs 31,000 crore in value via local sourcing and assembly of smartphones and accessories, a new report said on Wednesday.

According to the report published jointly by the Internet and Mobile Association of India (IAMAI) and Enixta Innovations, this is a big opportunity

Lok Sabha passes bills to extend GST to J&K

The Lok Sabha on Wednesday passed legislation to extend the Goods and Services Tax (GST) to Jammu and Kashmir, making it part of the "one nation, one tax" regime.

The House passed the the Central Goods and Services Tax (Extension to Jammu and Kashmir), Bill, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir), Bill, 2017 after a brief discuss

Tourists on medical visa more than doubled in 2 yrs: Government

The Centre said that the number of tourists arriving in the country on medical visa has more than doubled in the last two years and India's medical visa policy has been appreciated by foreign governments, reported PTI. In a written reply to the Rajya Sabha, Minister of State for Tourism Minister Mahesh Sharma said there were no restrictions on medical visa to foreign patients, instead the n

16% rail network carries 60% traffic: Railway Minister

As much as 16 per cent of the railway network carries 60 per cent of the traffic, Railway Minister Suresh Prabhu said in the Lok Sabha, reported PTI. He said a signalling system of a "very high value" is being prepared so that trains can run properly. Responding to a query as to why Rajdhani and Duronto trains are getting delayed, Prabhu said a major reason for train delays is heavy c

SC imposes 100% penalty on illegal mining in Odisha

 In what could be a major blow to the mining companies involved in illegal operations in Odisha, the Supreme Court on Wednesday imposed 100 per cent penalty on mining lease holders operating without necessary clearances in the state.

A two-member apex court bench comprising Justice Madan B. Lokur and Justice Deepak Gupta asked the companies, which have been served the demand

Indian telecom market likely to cross Rs 6.6-trillion revenue

Communications Minister Manoj Sinha on Wednesday said the Indian telecom industry has seen a paradigm shift from a voice centric market to a data-centric market and it is expected to cross Rs 6.6 trillion revenue mark by 2020.

"While voice business still contributes a large chunk towards operator revenues, data revenues have shown an exponential growth trajectory over the la

Global semiconductor spending to grow over 10% in 2017

Global semiconductor capital spending is projected to increase 10.2 per cent to $77.7 billion in 2017, market research firm Gartner said on Wednesday.

According to the report, the growth rate is 1.4 per cent up from the previous quarter's forecast, due to continued aggressive investment in memory and leading-edge logic which is driving spending in wafer-level equipment.

IMG report on telcos` financial woes soon: Manoj Sinha

The Inter-Ministerial Group (IMG) examining the financial stress in the telecom sector is expected to submit its report in 20 days, union minister Manoj Sinha said according to the PTI report. Acknowledging that the telecom sector is going through financial stress, he said action would be taken on the basis of the report. During the Question Hour in the Lok Sabha, the communications minister sa

Goa government to reintroduce loan settlement scheme for mining

The Goa government is planning to re-introduce the scheme for one-time settlement of loans taken by people for mining-related purposes, reported PTI. Chief Minister Manohar Parrikar said in the state Legislative Assembly last evening that he has discussed with the banks to re-introduce the scheme for the people, including truck owners, affected due to closure of the mining industry in Goa.

India needs infra & manpower to sustain aviation growth: Minister

The Indian Government has said that India needs infrastructure and trained manpower to sustain the growth of its civil aviation sector. Commenting on the issue, Minister of State for Civil Aviation Jayant Sinha told the media, "Land for airports development" and skilled manpower are required to sustain the growth being witnessed by the sector.

With our detailed four-pronged

Railways not to provide blankets in AC coaches: Reports

The Indian Railways has said that it has begun the process of doing away with providing blankets in AC compartments and is instead regulating the temperature inside the coaches. Commenting on the issue, a Rail Ministry Official told the media, “The 'no-blankets rule' has now been implemented in the third AC coach of the Jammu Mail.”

"The ministry has started t

Firms must strengthen IT systems to thwart cyber-attacks

The focus and spending on information technology (IT) systems by business organisations in India needs to be complemented with similar efforts in operational technology (OT) and consumer technology (CT) systems to combat myriad cyber-attacks, according to a recent ASSOCHAM-PwC study. “Currently, such initiatives are not taking place, thereby leading to a rise in attacks by cybercriminals,

Amendment of law on land usage by airports on hold: Government

The government's plan to liberalise land usage by AAI airports by amending law has been put on hold pending a decision from the Supreme Court on the matter, Minister of State for Civil Aviation Jayant Sinha said as per the PTI report. Clause 12 d of the National Civil Aviation Policy, 2016 provided for "liberalising end-use restrictions for existing (excluding PPP) and future greenfiel

General insurers need Rs 37,000 cr capital to grow at 20%

The general insurance industry requires Rs 37,000 crore growth capital to achieve a CAGR growth rate of 20 per cent over next five years, says a report as per the PTI. While public sector insurers require capital of Rs 27,000 crore of growth capital, the required amount for private sector players is Rs 10,000 crore, domestic rating agency Icra said in a report today, adding life insurers are we

Sebi forms committee on fair market conduct

Sebi set up a committee on 'fair market conduct' which will suggest measures for improving surveillance of the markets and strengthen rules for algo trades, among other norms, reported PTI. The panel, under the chairmanship of former law secretary T K Viswanathan, would suggest measures for improvement in PIT (Prohibition of Insider Trading) norms, PFTUP (Prohibition of Fraudulent and U

Infra, skilled manpower needed to sustain aviation sector growth: Jayant Sinha

India needs infrastructure and trained manpower to sustain the growth of its civil aviation sector, Minister of State for Civil Aviation Jayant Sinha said on Tuesday.

"Land for airports development" and skilled manpower are required to sustain the growth being witnessed by the sector, he said at an event here to launch skill development initiative for aircraft maintenan

Government forms panel to address data protection issues

The Ministry of Electronics and Information Technology (MeitY) has constituted an experts committee to study and identify key data protection issues and recommend methods for addressing them, an official statement said here on Tuesday.

The committee, headed by the Supreme Court's former Judge B.N. Srikrishna, was constituted on July 31, 2017. The committee comprises members from t

`Crop and motor insurance to drive general insurance sector`s growth`

Crop and motor insurance are expected to drive the Indian non-life sectors growth by 20 per cent this fiscal, said a senior official at ICRA Ltd on Tuesday.

The public sector players have seen a sharp fall in their solvency indicators on the back of rise in claims and changes in actuarial estimates with two of the players reporting solvency levels below the regulatory minimum during t

Three major contracts for two Kudankulam units signed with Russia

Russia's ASE Group of Companies on Tuesday said three main contracts were signed with Nuclear Power Corporation of India Ltd (NPCIL) for nuclear power units 5 and 6 to be set up in Tamil Nadu's Kudankulam.

In a statement, the ASE Group, which is part of Russia's nuclear power corporation Rosatom - said the contracts were signed on Monday.

According to the stateme

Life insurance sector to grow 15-18 per cent on APE basis in FY18

The Indian life insurance industry is expected to log a growth of 15 to 18 per cent this fiscal on an annual premium equivalent (APE), said a senior official at credit rating agency ICRA.

Presenting the performance of the life insurance sector at a webinar on Tuesday, Karthik Srinivasan, Senior Vice-President, ICRA, said that, on APE basis, the industry's new business growth stood

Sanjaya Baru to join as Secretary General of FICCI

Apex industry body FICCI on Tuesday said it has appointed decided to appoint the renowned economist and journalist Sanjaya Baru at the helm of FICCI as its Secretary General. Baru will assume charge from September 1, 2017, said Pankaj Patel, President of FICCI.

“With A Didar Singh nearing completion of five years as Secretary General of FICCI after joining FICCI post his retirem

India seeks China`s help to reduce trade deficit

Indian Minister of State of Commerce and Industry Nirmala Sitharaman on Tuesday sought China's help in reducing the trade deficit between the two countries.

Meeting China's Commerce Minister Zhong Shan on the sidelines of the 7th BRICS Trade Ministers meeting in Shanghai, Sitharaman said China should facilitate greater market access and provide a level playing field fo

Cos need to print `Best before` on pre-packaged food: Government

Companies have to print 'Best before' or 'Use by the date' on a label of pre-packaged food items that have potential short shelf life, the government informed Parliament as per the PTI report. A new provision in this regard has been inserted in the Legal Metrology (Packaged Commodities) Rules, 2011, Minister of State for Consumer Affairs C R Chaudhary said in a written reply to