`Faulty financial model responsible for poor railway infrastructure`

Initial inquiry reports of recent rail accidents may point to sabotage, but a former Railway Minister and officials held the "faulty financing model" and delay in implementing the required technological measures responsible for the poor infrastructure of the railways that may also be responsible for some train accidents.

As former Railway Ministers in the last decade, Lalu P

Infrastructure industry optimistic of tax sops in budget

In view of the government's initiatives to revive the infrastructure sector, industry body CFI has expressed hope that the upcoming budget will offer substantial relief in direct and indirect taxation and also remove anomalies in tax laws.

"The construction sector plays a pivotal role in the economic growth of the nation and executes key projects, including highways, hydro, t

Government to use geo-spatial tech to build smart cities: Minister

The Indian Government has said that it would extensively utilise geo-spatial technology in realising its vision to build 100 smart cities across the country. Commenting on the issue, Union Urban Development Minister M Venkaiah Naidu told the media, "Cities in the past were built on riverbanks. They are now built along highways.

But in the future, they will be built based on avail

Railways to procure modern equipment to detect rail fracture

The Indian Railways has said that it is going to procure most modern equipment to detect rail fracture in a faster mode as it has been recently plagued with increased number of derailments.

Commenting on the issue, Chairman Railway Board AK Mital told the media, “Currently, inspection of tracks is mostly carried out manually. But we are procuring six modern machines to detect ra

Around 65% complaints received by Ministry are of airlines: Reports

The Government has said that the airlines accounted for over 65 per cent of the complaints received by the Civil Aviation ministry in the last two months through its recently launched digital grievance redressal platform, AirSewa.

According to an analysis, the portal received a total of 933 complaints since its launch in November last year and 613 of them pertained to the airlines. Of

Indian geospatial industry to be $20 bn market by 2025

The $4 billion Indian geospatial industry in India is expected to become a $20 billion market by 2025, growing at a cumulative annual rate of 12 to 15 per cent.

The estimated annual budget of government agencies for GIS services currently stands at $3 billion and this was expected to further increase with the government's push for leveraging space and location technologies for dev

India against EU, Canada-proposed dispute settlement at WTO

India has opposed an informal proposal by the EU and Canada for a global investment pact with an investor-to-state dispute settlement (ISDS) mechanism at the WTO by which corporates can take governments to international arbitration for resolution of disputes, Commerce Minister Nirmala Sitharaman said on Monday.

"We rejected it completely. We want investments to be a bilateral thi

Demonetisation: Farm to loom, textiles totter

Mumbai, Bhiwandi & Ahmedabad: Since the turn of the century, Bhiwandi -- once called the Manchester of Asia -- has wilted against competition from Bangladesh and Vietnam. Bhiwandi holds more than a sixth of India's 6.5 million power looms -- machines that manufacture fabric from yarn.

A congested city of about 1.5 million, 30 km north of Mumbai, it was once a key link

Companies raise Rs 29k cr via NCDs in FY17 so far

Indian companies have garnered over Rs 29,000 crore by issuing non-convertible debentures (NCDs) to retail investors in the current fiscal so far. In the entire 2015-16, firms had mobilised Rs 38,812 crore through the route.

The funds have been raised for funding expansion plans, retiring debt, supporting working capital requirements and other general corporate purposes. NCDs are loan

Mutual funds park Rs 2,700 cr in stocks so far in January

Mutual funds invested nearly Rs 2,700 crore in equities this month so far on sustained participation by retail investors. Besides, fund managers have pumped in Rs 23,861 crore in the debt market during the period under review. According to the data released by the Securities and Exchange Board of India (Sebi), mutual fund managers invested a net sum of Rs 2,670 crore this month (till January 18

Note ban has hurt SMEs: Assocham survey

Demonetisation has negatively impacted job creation by hurting small and medium enterprises (SMEs) in the immediate run, an Assocham survey today said. However, the large and well-organised sectors of the Corporate India stand to benefit in the long run, Assocham's Bizcon Survey said.

"Demonetisation of high value currency notes would leave quite a negative impact on SMEs, ru

Indian bonds top performers in Asia in 2016: Nomura

The year gone by turned out to be very profitable for Indian bonds which emerged as the best performers in Asia in 2016, says a Nomura report.

According to the Japanese financial services major, Indian bonds outperformed sovereign bonds in the rest of the region (Hong Kong, China, Taiwan, Thailand, Malaysia, Korea Singapore, Indonesia) last year and the yield curve is likely to steepe

Railways need to prepare inclusive action plan for safety: Official

A senior government official has said that the Railway Ministry needs to prepare a comprehensive action plan for safety measures. As per reports, the official suggested that there should a mechanism for the frequent check-up of railway tracks, recruit of gangmen and regular safety audits of railways.

Commenting on the issue, a Rail Official told the media, "Technology can't b

Government to come up with new rules for mining of mineral blocks

The Indian Government has said that it will soon come out with redrafted rules with regard to exploration and mining in offshore mineral blocks and allot 60 blocks under auction route in first phase, a move that will bring transparency and efficiency in the process. Commenting on the issue, Mines Secretary Balvinder Kumar told the media, “Offshore Areas Mineral (Development and Regulation

Trai to recommend Aadhaar-based eKYC for outstation customers

Telecom regulator Trai has said that it is likely to recommend to the Department of Telecom (DoT) that Aadhaar-based eKYC be allowed even for outstation customers who want to get a mobile connection in a particular service area.

As per reports, the regulator may suggest that the existing mobile subscribers in the country should be encouraged to go in for Aadhaar-based eKYC verificatio

Government pushing to popularize Aadhaar Pay: Reports

The Indian Government has said that it is pushing to popularise Aadhaar Pay which ensures financial transactions by just using fingerprint. As per reports, Aadhaar Pay, which is merchant version of the already in use Aadhaar-enabled payment system (AEPS), will become an alternative for all online and card transactions which require password and PIN.

As per reports, the app facilitates

Insurance industry seeks higher tax exemptions in Budget

On the heels of demonetisation, the insurance industry is seeking higher tax exemptions, focus on e-payment and compulsory home insurance in the upcoming Union Budget that will help in increasing insurance penetration in India, reported PTI.

"We expect the Budget to spur consumption with a lower tax regime and higher tax-free slabs coupled with higher infrastructure spends,"

Time to revamp railways infrastructure, say experts

Frequent train accidents in the past few months have once again brought to fore issues of maintenance, infrastructure up-gradation and safety in the Indian Railways.

The issue of rail safety, however, took an unexpected turn, with Uttar Pradesh Police hinting at possible role of Pakistani spy agency -- ISI -- in the Kanpur derailment incident, that took place late last year.

November IIP 'false positive', doesn't reflect reality: Crisil

 Descibing the official data on the index of industrial production (IIP) for November 2016, during which demonetisation was announced, as a "false positive", Crisil Research has said that the latest IIP figures do not reflect the true condition of the Indian manufacturing sector.

Belying popular expectations, India's factory output, as measured by the IIP released e

Note ban negative for jobs, SMEs, rural demand: Assocham

Demonetisation will leave a negative impact on small and medium enterprises (SMEs), rural consumption and job creation while the large organised sectors stand to benefit in the long term, industry chamber Assocham said on Sunday.

"Demonetisation of high value currency notes would leave quite a negative impact on small and medium enterprises, rural consumption and job creation in

100 Model Career Centres planned for job seekers

The Union Labour and Employment ministry is establishing 100 Model Career Centres (MCC) across the country to increase employment avenues for job seekers.

Union Minister of State (Independent Charge) for Labour and Employment Bandaru Dattatreya told reporters here on Saturday that out of 950 employment exchanges, 100 will be developed as MCC at a cost of Rs 350 crore.

The em

Protectionism fears remain, but US, India collaboration to continue: FinMin, Industry

With Donald Trump taking over the reins of the US, industry stakeholders in India and the government feel that the fears of protectionism and curbs on H1B visas will remain, but that the US will continue its financial and technological collaboration with India.

"We believe that US will continue to support global growth with financial and technological collaborations and investmen

Over 12,000 crore bids received for Reliance Mutual CPSE ETF

Reliance Nippon Life Asset Management (Reliance Mutual Fund) has received around Rs 12,000 crore worth of bids for the further fund offer (FFO) in Central Public Sector Enterprises Exchange Traded Fund (CPSE ETF), a top company official said on Friday.

"As of now, approximately Rs 12,000 crore worth of bids have been received and the counting is still on. The final bid amount wil

Index of mineral production firms up 3.9% in November

The index of mineral production for November went up 3.9 per cent while the total value of mineral output during the month has been estimated at Rs 20,481 crore. "The index of mineral production of the mining and quarrying sector for November... 2016, at 135.9, was 3.9 per cent higher compared to November 2015," the Ministry of Mines said in a statement.

"The cumulative

NPS expected to grow at 35-40% in FY17, says PFRDA

Pension fund regulator PFRDA is expecting National Pension System (NPS) to grow at a rate of 35-40 per cent in the current fiscal, a top official said. "NPS has been growing at around 35 per cent per annum in terms of both AUM and subscriber base for the past three years. We hope to see it to grow at a rate of 35-40 per cent during the current fiscal too," PFRDA Chairman Hemant Contra