Subscriber base of landline down 4%, wireless up 11.5% in 2016

Total landline subscribers in India fell over four per cent year-on-year to 24 million, while mobile users rose 11.5 per cent to over 1.12 billion as on December 2016, according to data by telecom regulator Trai, reported PTI. India's total telecom subscriber base touched 1.15 billion as on December 2016, over 11 per cent higher than the previous year, as per the "yearly telecom servic

RBI to sell government securities for Rs 18,000 cr on July 7

The Reserve Bank of India on Monday said it will auction Government of India four dated securities for Rs 18,000 crore on July 07, 2017. “The auction will be conducted using multiple price method,” RBI said in a notification. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber)

Railways to allow foreigners to book ticket 360 days in advance

The Indian Railways on Monday said that it will soon allow foreign nationals to book tickets 360 days in advance in order to promote tourism.

"Now the foreign nationals or NRIs (non-resident Indians) can book their tickets under foreigners quota in 360 days advance," a Railway Ministry official told IANS.

As of now, foreigners are allowed to book ticket 120 days in

Petrol cheaper by over Rs 2/litre, diesel by Re 1 since daily revision

While petroleum is yet to come under the GST, since the dynamic pricing regime came into effect pan-India from last month, petrol prices have fallen by over Rs 2 a litre till date and of diesel by more than Re 1.

Petrol prices per litre have decreased by Rs 2.35, and of diesel by Rs 1.02, ever since the daily revision in rates was implemented throughout the country from June 16. On th

Railways to launch UDAY train by September end: Reports

The Indian Railways has said that the overnight train, UDAY from the city to Bengaluru would be launched by September end. Commenting on the issue, Union minister Suresh Prabhu told the media, “Despite announcing the UDAY (Utkrisht Double Decker AC Yatri) train more than a year ago, the launch was delayed due to designing issue.”

“The problem is now solved and the UD

GST: Domestic LPG gets costlier, commercial LPG is cheaper

With all grades of liquefied petroleum gas (LPG) coming under GST, consumers in India will be paying more from this month for their cooking gas cylinders.

While petroleum is not under the Goods and Services Tax (GST) that rolled out from July 1, the central government clarified that day that both domestic and commercial liquefied LPG grades will be taxed under the GST, which is n

No LPG connection in 6 northeast states till May; 4.3 million in UP: RTI

 In six out of eight northeastern states, the Modi government failed to provide even a single LPG connection under its flagship scheme Pradhan Mantri Ujjwala Yojana (PMUY).

The Yojana is an initiative on whose success the Bharatiya Janata Party (BJP) rode to power in Uttar Pradesh, having provided over 4.3 million connections in the state to BPL families.

The

Cabinet may consider Rs 17,000 cr hydro power policy

The Union Cabinet may take up for approval this month the hydro-power policy which aims to provide Rs 16,709 crore support for stalled 40 hydel projects, entailing 11,639 MW capacity, and to classify all such ventures as renewable energy, reported PTI. "Power Ministry had finalised the policy last month and sent to the Finance Ministry for vetting before placing it for the Cabinet approval

GST: AC fares in trains set to go up marginally

With the Goods and Services Tax (GST) coming into effect, rail passengers will have to pay a little more to travel AC and first class, reported PTI. Service tax on AC ticket charges will be hiked from 4.5 per cent to 5 per cent, an increase of 0.5 per cent. Similarly, GST on transport of goods by rail will be 5 per cent in place of service tax of 4.5 per cent levied earlier with exemption for e

Petroleum dealers call nationwide strike on July 12

The All India Petroleum Dealers' Association has (AIPDA) called a nationwide petrol pump strike on July 12, protesting against the oil marketing companies' failure to install 100 per cent automated system at the pumps and lack of transparency in the daily dynamic pricing mode.

The daily dynamic pricing mode has been been started from June 16.

"Our national body

Narendra Modi ropes in ministers to attract investment, boost textile industry

Prime Minister Narendra Modi on Sunday roped in seven union ministers to hard sell India on the final day of "Textiles India-2017" event here to attract foreign investment in the textile industry and to boost domestic players while urging them to focus on creating jobs.

Union Ministers M. Venkaiah Naidu, Nitin Gadkari, Ananth Kumar, Nirmala Sitharaman, Radhamohan Singh, Mahe

65 MoUs signed on Day 2 of Textiles India 2017

The Ministry of Textiles on Saturday signed as many as 65 MoUs in the textile sector on the second day of the first of its kind mega exhibition Textiles India 2017.

"The MoUs were signed between various domestic and international organisations from the industry and government," an official said.

The MoUs were signed in presence of Union Textiles Minister

One lakh firms de-registered for suspected activities, more tough action coming: Narendra Modi

Announcing the cancellation of registration of over one lakh companies and identification of 37,000 shell firms for suspected generation of black money and money laundering, Prime Minister Narendra Modi on Saturday warned of "more tough action" against firms helping in hiding unaccounted wealth.

Addressing chartered accountants gathered from across the country, he asked

GST rollout to create one lakh jobs in three months, says Minister

Union Minister for Labour and Employment Bandaru Dattatreya on Saturday said with the rollout of the Goods and Services Tax (GST) across the nation, one lakh jobs will be created in the first three months.

In addition, around 60,000 persons would get employment in the accountancy sector, he told reporters.

Terming GST, which came into effect on Saturday, as a histo

GST effect: Automobile companies reduce prices

Several automobile companies have reduced their vehicle prices after the roll-out of the Goods and Services Tax (GST).

Automobile majors like Maruti Suzuki, Jaguar Land Rover (JLR) and Audi India announced that they have reduced prices on various models.

However, owing to withdrawal of tax concessions on mild hybrid vehicles, the prices of vehicles in this category

E-commerce players offer 'GST bonanza discount'

With the country's much-awaited the Goods and Services Tax (GST) reform in action, e-commerce players are optimistic that more tax benefits will come in within the new tax regime, which will be shared with the consumers.

"Earlier, we were not able to take tax credit for many things. Now when we are able to take these, there is definitely some saving from the cost side al

Will not pursue proposal to acquire AI if deal not profitable: IndiGo to employees

Budget passenger carrier IndiGo's management has told its employees that it will not go ahead with its proposal to acquire Air India, if the deal "does not add value".

"Let me be very clear that if it is not profitable and does not add value to our employees, customers and shareholders, we will not embark on this journey," Aditya Ghosh, President and Wholetime

GST effect: First class, air-conditioned train fares to rise

 Passengers travelling in first class and air conditioned trains will have to shell out more for their journey after the roll-out of the Goods and Services Tax (GST) from July 1.

According to the Ministry of Railways, service tax levied on tickets would go up to five per cent from 4.5 per cent.

However, non-AC travel, including that by local trains, metro and religious

GST rate on fertilser reduced to 5% from 12%: Arun Jaitley

The Goods and Services Tax (GST) Council on Friday slashed the rate on fertiliser from 12 per cent to 5 per cent to reduce the burden on farmers.

Finance Minister Arun Jaitley disclosed this information after the Council meeting here, hours before the roll-out of the new indirect tax regime. 

"Some states had kept VAT on fertilisers at lower rate. Keeping that in m

Textiles sector is bridge between agriculture, industry: Narendra Modi

 Prime Minister Narendra Modi on Friday said the textiles sector acts as a bridge between agriculture and industry.

"Textile is such a field which acts as a bridge between the agriculture sector and industry," Modi said after inaugurating the International Textile Summit here in which over 100 countries are participating.

Modi said that India has got the most

SpiceJet launches first brand store in Gurugram

Low-cost carrier SpiceJet on Friday launched the first brand store for its newly launched e-commerce retail venture -- 'SpiceStyle' -- at Galleria in suburban Gurugram.

"Besides offering the end-customers the opportunity to 'look and feel', the store will function as a premium channel to offer the latest in fashion and lifestyle across 12 different brands, includi

Eight core industries` output up 3.6% in May

The output of India's eight major industries during last month grew by 3.6 per cent from a rise of 2.8 per cent reported in April 2017, official data showed on Friday.

The Eight Core Industries (ECI) data which represents the output of major industrial sectors like coal, steel, cement and electricity had grown by 5.2 per cent in the corresponding month of 2016.

"The

Prabhu sets up group to study GST impact on Railways

The Indian Government has said that the Railways has set up a group to study the impact of the soon-to-be-launched goods and services tax (GST) on its operations. Commenting on the issue, Railway minister Suresh Prabhu told the media, "Inevitably all sectors will be affected (with the GST rollout). Not to say that the Railways will be immune from this. We are studying the impact. In any ca

Irdai defers implementation of Ind-AS accounting model

Regulator Irdai has said that the effective date for implementation of Ind-AS accounting model in the insurance sector has been deferred to April 2020 from April 2018. As per reports, the authority has approved the regulatory override whereby the implementation of Ind-AS in the insurance sector has been deferred by two years to Fiscal 2020-21. Commenting on the issue, an IRDAI Official told the

Tamil Nadu allots Rs 505 cr for new highway projects

The Tamil Nadu Government has said that it has allocated Rs. 505.03 crore for upgrading and taking up new highway projects in the financial year 2017-18. As per the Ministry of Road Transport, Shipping and Highways, an expenditure of Rs. 798.27 crore was incurred for widening and construction of bridges in the state. For the development of State roads under inter-state connectivity scheme, an e