Delhi Metro to augment passenger capacity by 200,000 by March 2018

With the construction of its Phase-3 nearly complete, the Delhi Metro is all set to accommodate more than 200,000 additional commuters on its network by March 2018. Besides the entirely new Pink and Magenta Lines, the DMRC (Delhi Metro Rail Corporation) will be adding 186 new coaches to the existing lines.

Calculated at 300 passengers per coach as cited by the transporter, the DMRC wi

Sahara`s `Aamby Valley' put up for auction

In a major setback to the Subrata Roy-owned Sahara Group, the Bombay High Court on Monday put up its prestigious Aamby Valley city properties in Maharashtra for public auction.

The Official Liquidator of the High Court for the Aamby Valley City in the twin hill stations of Lonavala-Khandala has set a reserve price of Rs 37,392 crore as part of efforts to partially recover the Sah

GST rate of 3% on gold too low: Economic Survey

The Goods and Services Tax (GST) rate of 3 per cent on gold was low and needs to be increased as it is consumed by the "very rich", feels Chief Economic Advisor Arvind Subramanian, the author of the Economic Survey.

According to the Economic Survey Volume II 2016-17, tabled in Parliament on Friday, "The tax on gold and jewellery products - items that are disproport

India`s medical tourism industry to grow exponentially: Official

India has gained popularity as a high quality medical care provider at affordable cost which can propel the country's medical tourism industry to grow exponentially, Rita Teaotia, Secretary, Ministry of Commerce, said on Friday.

Speaking at an event here to announce the launch dates for Advantage Healthcare India 2017, Teaotia said that apart from providing quality medical and med

Power bills to remain cheaper in Delhi: Minister

The Delhi government won't hike electricity rates this year, Power Minister Satyendar Jain said in the assembly on Friday.

The Delhi government is the only one in the country which hasn't hiked electricity rate in the past two years, he said while replying to a question by Leader of Opposition and BJP MLA Vijender Gupta.

The discussion became noisy when Gup

Government energy efficiency scheme to enable Rs 1000 cr investment by 2020

In a bid to save energy, Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power, to assist various ministries and departments to retrofit energy efficient appliances in all their premises across the country, according to a statement released by the Ministry of Finance. Currently, EESL is the implementation agency for the Buildings Energy Efficiency Progra

Government offices to retrofit energy efficient appliances

Considering the fact that majority of the government buildings are old constructions and, therefore, consume large amount of energy, the Ministry of Finance has issued guidelines for mandatory installation of energy efficient appliances in all Central Government buildings across India.

The Ministry, in a statement, has directed that usage of LED based lightings and energy efficient co

Illicit tobacco trade cost government Rs 9,139 cr

Illicit trade related to tobacco led to a loss of Rs 9,139 crore to the exchequer, a study released by FICCI on Friday has revealed.

The exchequer also bore losses due to illicit trade of mobile phones at Rs 6,705 crore and alcoholic beverages at Rs 6,309 crore, the FICCI report said. 

The study, by FICCI CASCADE (Committee Against Smuggling and Counterfeiting

Government has not written off any corporate loans: Finance Minister

The government has not written off even a single rupee of corporate loan, Finance Minister Arun Jaitley told the Lok Sabha on Friday.

The Minister was responding to a supplementary question by Congress member Deepender Singh Hooda, who said the government had written off around Rs 59,000 crore of corporate loans.

"The government has not written off even a sing

Tyre demand to grow 7-8 % in FY18 & FY19: ICRA

Tyre volume demand was expected to grow by seven to eight per cent during FY18' and FY19' on the back of higher OEM demand and stable replacement demand, ICRA report said. "Tyre volume demand is expected to grow by seven to eight per cent during FY18 and FY19 boosted by higher OEM demand and stable replacement demand, the report said.

Carbon black companies were also on e

Passenger car sales up 8.52% in July

Sales of domestic passenger cars increased by 8.52 per cent in July, as compared to the same period last year, data showed on Friday.

As per data furnished by the Society of Indian Automobile Manufacturers (SIAM), 192,773 passenger cars were sold in July, 2017 as compared to 177,639 units sold in July, 2016.

The off-take of other sub-segments such as utility vehicl

New biofuel policy in the works, eyes Rs 1 lakh cr investment

The government plans to bring a new policy to promote use of biofuels in transport fuel that will catalyse Rs 1 lakh crore of investment in the entire value chain, Oil Minister Dharmendra Pradhan said as per the PTI report. India imports 80 per cent of its crude oil needs and use of biofuel extracted from non-edible oils will help meet the target of reducing imports by 10 per cent by 2022, he s

Sweden set to become key destination for Indian IT cos: Nasscom

Sweden is poised to become a key destination for Indian IT companies, helped by factors like large spending on IT services and high rate of innovation, a report by industry body Nasscom said as per the PTI report. The report titled 'Sweden a key driver of Nordic ICT growth' found that along with having a higher GDP growth compared to the European Union average, the Nordic countries cons

Apple`s stance on DND app issue unreasonable: Trai chief

Trai Chairman R S Sharma today expressed his disappointment with the "unreasonable" stance of Apple not allowing the regulator's pesky call reporting app on the iOS platform and asserted that the issue is about users having control over their own data and not one of privacy, reported PTI. Sharma told PTI that in last few days, ever since the issue was flagged by the regulator, the

Rockman Industries to set up Rs 540 cr plant in Andhra

 Rockman Industries Ltd, an auto components manufacturer, will up an aluminium die-casting plant in Chittoor district of Andhra Pradesh with an investment of Rs 540 crore.

Chief Minister N. Chandrababu Naidu on Thursday accepted their proposal. The proposed investment will be made over six years, generating 1,600 direct jobs.

V. Veerappan, Director of Rockman

Bill to universalise minimum wages introduced in Lok Sabha

The government on Thursday introduced in the Lok Sabha a bill to universalise minimum wages in the country.

The Code of Wages, 2017 bill seeks to combine Payment of Wages Act 1936, Minimum Wages Act 1948, Payment of Bonus Act 1965 and Equal Remuneration Act 1976.

N.K. Premachandran, of the Revolutionary Socialist Party (RSP), opposed the introduction of the bill an

Japanese firm to invest Rs 1,000 cr in Andhra

Toray Industries Inc, a Japanese multinational corporation, will invest Rs 1,000 crore for the manufacture of technical textiles in Andhra Pradesh.

Chief Minister N. Chandrababu Naidu on Thursday approved the project, which will come up in Sri City, a special economic zone in Chittoor district.

The plant will be the largest among Japanese units in Sri City.

Lok Sabha passes bill facilitating merger of SBI subsidiaries

The Lok Sabha on Thursday passed a bill to facilitate merger of five associate banks with the State Bank of India.

The State Banks Repeal and Amendment Bill, 2017, repeals two Acts -- State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956.

These Acts established the State Bank of Bikaner, State Bank of Mysore, State Bank of Patiala,

Supreme Court refuses to halt auction of Sahara`s Aamby Valley property

The Supreme Court on Thursday declined the plea of Sahara chief Subrata Roy to put on hold the auction of Aamby Valley.

Refusing to postpone publication of sale notice for Aamby Valley on August 14, a bench headed by Justice Dipak Misra allowed the liquidator to go ahead with the auction.

The Sahara Group had moved the apex court and sought to push back the publication of sa

44 economic corridors identified under Bharatmala project

The government has identified 44 Economic Corridors of an aggregate length of 26,200 km for development or improvement under the Bharatmala Pariyojna, parliament was informed on Thursday.

In a written reply in the Lok Sabha, Minister of State for Road, Transport, Highways and Shipping Pon Radhakrishnan said that 9,000 km of Economic Corridors is proposed to be developed under the firs

Gems & jewellery Quarterly result exports rise 4%

Gems and jewellery exports grew by about 4 per cent to USD 9.17 billion during the first quarter of the current fiscal, driven largely by demand in major markets like the US, reported PTI. In the April-June quarter of last financial year, the sector's exports aggregated to USD 8.84 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC).

The labour

Government to finalise plan on Pawan Hans divestment soon: Reports

The ministry of civil aviation has said that it is in the last stages of preparing the modalities of disinvestment of state-run helicopter operator Pawan Hans and will send its proposal for evaluation within a week. As per reports, in October last year, the Cabinet Committee on Economic Affairs (CCEA) had given its in-principle approval for strategic disinvestment of profit-making Pawan Hans.

IMG to discuss telecom issues on Aug 11: Reports

A Government Official has said that the inter-ministerial group on telecom issues is likely to meet on August 11 to discuss measures to ease the financial stress in the sector. As per reports, the meeting was previously scheduled for August 14 and 16 but it is now likely to be held on August 11. Commenting on the issue, a Government Official told the media, "This will be an internal meetin

All households to be electrified before 2022: Piyush Goyal

All households in the country will be electrified before August 15, 2022 and all villages before May next year, the Lok Sabha was informed today. Power minister Piyush Goyal said the government has set a deadline of August 15, 2022 for electrification of all households in the country and May 2018 for the electrification of all villages. Goyal said he was happy to announce that the government wi

Government sets mechanisms to tap full potential of textile sector

The government said it has set up institutional mechanisms including a task force, an inter-ministerial synergy group and a steering committee to realise the full potential of textile sector. The inter-ministerial synergy group on man-made fibre (MMF) chaired by the textiles secretary will formulate policy interventions to enhance the growth and competitiveness of MMF industry in the country.