Cabinet approves changes in Sovereign Gold Bond scheme

The Cabinet has raised the annual investment limit in Sovereign Gold Bonds (SGBs) to 4 kg per individual from 500 gm and relaxed other norms to make them more attractive to buyers. The ceiling will be counted on financial year basis and will include the SGBs purchased during trading in the secondary market, an official statement said after the Cabinet meeting.

According to the stateme

India`s steel production declines by 1.1% in June: Reports

According to the latest report by World Steel Association, India’s crude steel production declined marginally by 1.1 per cent to 7.9 million tonnes (MT) in June. The report also said that the steel output stood at 8 MT in the same month last year. However, the domestic production in the first six months of 2017 increased by 5.3 per cent to 49.48 MT over 46.9 MT in the same period of 2016,

India`s dependence on coal to continue: Reports

A report has said that India's dependence on coal will continue even after three decades from now with an estimated share of 42-50 per cent of the country's energy mix. The report further said that penetration of renewable energy will increase from 3.7 per cent in 2012 to 11-14 per cent in 2047. Commenting on the issue, a Government Official told the media, "India's reliance on

Cabinet approves cost revision of caste census

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved revision of the cost of Socio Economic and Caste Census 2011 (SECC-2011) to Rs 4,893.60 crore from Rs 3,543.29 crore estimated earlier.

The SECC-2011 project concluded on March 31 last year.

"The Cabinet approval provides for revising the cost of SE

Telecom sector revenue decline to impact government`s 2017-18 collections

The declining sales revenue of the telecom players will have an adverse impact on government revenue collection in the form of spectrum usage charges and licence fee in the current financial year, parliament was informed on Wednesday.

"Telecom Industry including state-owned telecom PSUs and major banks have apprised the government about the financial stress in the telecom in

Logistics cost to fall by 20% under GST: Nitin Gadkari

India's logistics sector would gain the most from the Goods and Services Tax (GST) as costs would fall by almost 20 per cent, Road Transport and Highways Minister Nitin Gadkari said on Wednesday.

Logistics parks being set up across the country will enable long haul freight movement which would reduce freight transportation costs and throw open many employment opportunities, a mini

Dubai Airport processes 43 mn passengers in first half of 2017

Passenger traffic at Dubai International (DXB) has surpassed 43 million in the first half of 2017, a traffic report issued by operator Dubai Airports said on Wednesday.

During the first six months, the top country destinations in terms of total passenger volumes were India with 5,943,359 passengers, followed by Saudi Arabia, the UK with 3,064,172 passengers, Pakistan, and 1,561,559 fl

E-commerce sites to disclose food expiry date, MRP

 E-commerce companies will now have to display the expiry dates and maximum retail prices of packaged food products under new rule designed to protect consumers from being sold old stuff.

Ordering packaged food from e-commerce sites has increased many folds, but the absence of manufacturing and expiry dates on such products often led to the product not being fully utilised.

Centre okays Rs 200 crore for Assam`s flood-hit highways

Road Transport and Highways Minister Nitin Gadkari on Wednesday announced grant of Rs 200 crore as first instalment for immediate repair of National Highways damaged due to heavy rains in Assam.

Gadkari said that, if needed, further financial assistance will be given after a final report is submitted by an expert-team of the National Highways Authority of India (NHAI).

Wind capacity addition of 1.5 GW likely in FY18: India Ratings

India Ratings (Ind-Ra) has said that state discoms reluctance to sign long-term purchase agreements at higher feed in tariffs is likely to affect wind power generation as only 1,000-1,500 MW of capacity is likely to be added in this financial year. According to the rating agency, there could be a substantial dip in capacity addition in FY18 to 1000-1,500 MW from about 5,400 MW in FY17.

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Intex Aqua Power IV launched at Rs 5,499

Domestic smartphone maker Intex on Wednesday launched its budget phone Aqua Power IV at Rs 5,499 that features a 4,000mAh battery and runs on latest Android Nougat OS.

Intex Aqua Power IV comes with a 5-inch FWVGA display and is powered by a 1.3GHz quad-core processor coupled with 1GB RAM.

"We at Intex work to provide adept and smart products that meet the mos

Goa`s new airport to be operational by May 2020: Reports

The Goa Government has said that the first phase of Goa's upcoming Mopa international airport will be operational by May 2020. Commenting on the issue, Chief Minister Manohar Parrikar told the media, "GMR Goa International Airport Limited (GGIAL) has already started pre-construction work and, as per concession agreement, the first phase of the project is likely to be commissioned by Ma

Government recovers Rs 238.84 cr from drug makers for overcharging

Government has so far recovered an amount of Rs 238.84 crore as fine from pharmaceutical companies for overcharging, Parliament was informed. In a written reply to the Lok Sabha, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said that as of June 30, Rs 238.84 crore has been recovered from the drug firms for non-compliance of provisions of DPCO, 2013.

The minister

Fragile finances the reason for Air India`s disinvestment nod: Minister

The Indian Government has said that Niti Aayog has given Air India's fragile finances as the main reason for recommending the airline's disinvestment. As per reports, the Cabinet Committee on Economic Affairs (CCEA), on June 28, gave in-principle nod for the strategic disinvestment of Air India and its five subsidiaries. Commenting on the issue, Union Minister Jayant Sinha told the medi

Local airlines likely to induct 384 planes by March 2020

Domestic scheduled carriers are likely to induct as many as 384 aircraft in their fleet by March 2020, according to information available with the government, reported PTI. Out of the total, budget carrier IndiGo is expected to add 136 aircraft while full service airline Vistara is likely to induct at least 5 planes during the period, as per details given by civil aviation minister Ashok Gajapa

Strength in farm business powers DuPont`s results beat

 DuPont's quarterly profit and revenue beat estimates on Tuesday, driven by strength in its agriculture business, its biggest, sending its shares to a record high.

DuPont, which is merging with Dow Chemical, rose as much as 2.4 percent to $86.36 in morning trading. Dow, which will report quarterly earnings on Thursday, was up 1.7 percent.

Sales in DuPont's agric

GST mitigated cascading impact of taxes on civil aviation sector: Minister

The government on Tuesday said GST (Goods and Services Tax) has mitigated "ill-effects of cascading taxes on prices across all sectors including civil aviation".

According to Minister of State for Civil Aviation Jayant Sinha, GST was introduced with the intention to reduce the overall tax burden on the consumer.

"The GST regime amalgamates a large number of ce

Centre took steps to increase farmers income: Minister

Several steps like organic farming, crop insurance, and market reforms have been taken to enhance the income of Indian farmers, the government told the Lok Sabha on Tuesday.

Union Minister of State for Agriculture Parshottam Rupala said other schemes aimed at increasing the income of farmers included soil health cards, neem-coated urea, Paramparagat Krishi Vikas Yojana, and Pradhan Ma

Supreme Court asks Sahara to deposit Rs 1,500 cr to stall auction of Aamby valley

The Supreme Court on Tuesday asked Sahara chief Subrata Roy to deposit Rs 1,500 crore - a part payment of Rs 24,000 crore that two group companies had raised from the investors - with market regulator Sebi to stall the auction of its lands in Aamby valley.

Directing the sum be deposited by September 7, the bench of Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri permi

TDSAT hearing on Reliance Jio free-offer case on Aug 18

The telecom tribunal will hear on August 18 the petition of Bharti Airtel and Idea Cellular challenging the decision of Trai to allow free offers of Reliance Jio to continue beyond the stipulated 90 days, reported PTI. The two offers in reference are 'Jio Welcome Offer' and the 'Happy New Year offer'. The petition by Bharti Airtel and Idea Cellular against the Telecom Regulatory

Rs 7 lakh cr to be spent in building roads in next 5 years

The Indian Government has said that it will cost around Rs 7 lakh crore for development of national highways and other roads under various government schemes and proposed Phase-I of Bharatmala programme upto 2021-22. Commenting on the issue, Minister of State for Road Transport and Highways Mansukh Lal Mandaviya told the media, "The estimated fund requirement for development of national hi

Manage employee expectations, Kris to IT cos as growth slows

As growth rate slows down, Indian IT companies need to learn to manage expectations of their employees, says a senior industry figure as he pitched for retraining of staff, in the era of rapid technology transition, reported PTI. When growth rate slows down, one has to manage the expectations of the employees within the company, former CEO of Bengaluru-headquartered IT major, Infosys, Kris Gopa

Stalled hydro power projects leading to cost overrun: Minister

The Indian Government has said that around fourteen under construction hydro power projects of above 25 mw have been stalled due to various reasons, leading to cost overrun of Rs 25,593.78 crore. Commenting on the issue, Power Minister Piyush Goyal told the media, "As of July 1, 2017, there are 14 under construction hydro power projects (above 25 mw), totalling 5,055 mw, which are stalled

Sunil Mittal urges TRAI to reject `Bill and Keep` method

Bharti Airtel Chairman Sunil Mittal has urged the Indian telecom regulator to reject the 'Bill and Keep' (BAK) method and said it should continue with the interconnection usage charge (IUC) regime.

"The current IUC at 14 paisa is already well below cost and it will be in fitness of things that while taking a final decision, the Authority (Telecom Regulatory Authority

Rs 7 lakh cr needed for national highways development in 5 yrs

The Ministry of Road Transport & Highways has estimated a fund requirement of about Rs. 6.92 lakh crore for the development of National Highways in the country during the next five years. This requirement will be met from the Gross Budgetary Support of the Ministry, the Central Road Fund, Toll remittance, Monetization of National Highways through Toll-Operate-Transfer (TOT) model, external