Mulling huge fund for river interlinking: Nitin Gadkari

The government is mulling to create a large fund for interlinking of rivers and work on three interlinking projects will start in few months, Union Water Resources, River Development and Ganga Rejuvenation Minister Nitin Gadkari said on Tuesday.

Interlinking of rivers is important to save people from floods and droughts, he said at the inauguration of India Water Week-2017 here.<

Himachal cuts VAT on petrol, diesel

The Congress government in poll-bound Himachal Pradesh on Tuesday reduced the value-added tax (VAT) on petrol and diesel by one percent.

A decision in this regard was taken at a cabinet meeting chaired by Chief Minister Virbhadra Singh here.

After Gujarat and Maharashtra, Himachal became the third state to slash VAT on prices of petrol and diesel.

Himachal charges

Aadhar enabled enrollment for Atal Pension Yojana rolled out

 The government on Tuesday said it has rolled out Aadhaar-enabled digital enrollment of Atal Pension Yojana (APY) which will not require submission of physical form by the subscriber, thus enabling them to register for the scheme without visiting a bank or post office.

So far, APY was available for subscription through banks, banking correspondents and through internet banking.&n

Railways to cooperate with Germany on speeding up trains

The Railway Ministry on Tuesday signed a joint declaration of intent with Germany to carry out a feasibility study on the Chennai-Kazipet corridor for increasing the speed of trains to 200 kmph.

"A joint declaration of intent was signed between Ministry of Railways and Germany regarding carrying out of feasibility study on existing 643 km long Chennai-Kazipet corridor of Indian R

Housing demand revival unlikely in 12-18 months: Crisil

The demand for residential property is not likely to revive in the next 12-18 months but more launches in affordable housing segment are expected, said a research report by Crisil released on Tuesday.

"Among cities, demand in the National Capital Region has wilted the most over the past 4-5 years and is unlikely to recover in the medium term. The sheer number of disputes between

Gas trading exchange coming up: Dharmendra Pradhan

India will soon have its first gas trading exchange on the lines of existing online platforms that trade in power, Petroleum Minister Dharmendra Pradhan said on Tuesday.

"A gas exchange platform is in the interest of the Indian consumer and in line with Prime Minister Narendra Modi's commitment to the COP21 agenda of action on climate change," Pradhan said in a pres

PE/VC investments at record high of $8.7 bn in July-September

Private equity/venture capital investments touched a record high of USD 8.7 billion in the September quarter, a sharp increase over last year, largely driven by big-ticket transactions, says an EY report. According to EY's quarterly PE tracker for July-September 2017, PE/VC investments stood at a record high of USD 8.7 billion, as against USD 3.1 billion in the same period last year.

Gujarat slashes VAT on petrol, diesel to cut prices

The Gujarat government on Tuesday announced a 4 per cent cut in Value Added Tax (VAT) on petrol and diesel, effective from midnight, to bring down fuel prices in the state.

Chief Minister Vijay Rupani told the media here: "With the reduction in VAT, petrol price will be reduced by Rs 2.93 a litre and that of diesel by Rs 2.72 a litre."

The reduction comes

Andhra to get another Fintech firm, 5,000 jobs

A major Fintech company will set up its operations in this coastal city of Andhra Pradesh, creating 5,000 high-end jobs, state Information Technology Minister Nara Lokesh said on Tuesday.

Talking to reporters on the sidelines of blockchain business conference, he said the name of the company and other details will be announced after the state cabinet approves the proposal later.<

NPS subscribers rise 27 per cent to 1.78 cr

Subscribers of National Pension System (NPS) increased by 27 per cent to 1.78 crore at the end of last month, pension fund regulator PFRDA said today. The asset under management (AUM) under NPS stood at Rs 2.06 lakh crore at September-end. "The growth in subscribers and the AUM jump stood at 27 per cent and 47 per cent, respectively," said Badri S Bhandari, Whole Time Member, Pension

Facebook India MD Umang Bedi quits; Bhushan named interim head

Facebook India Managing Director Umang Bedi has stepped down from his position, according to a statement by the social networking giant. "We confirm that Umang Bedi will be leaving his role at Facebook at the end of this year.

He has built a really strong team and business during his time with us, and we wish him all the best," Facebook said in a statement here. Sandeep Bhus

Government to set up mini food parks, bats for direct farm sourcing

The government will focus on setting up of mini food parks to raise the processing level, Union Minister Sadhvi Niranjan Jyoti said today and asked the industry to buy agri items directly from farmers to boost their income. Jyoti, who is Minister of State for Food Processing, said all 42 sanctioned mega food parks will be operational by 2019. She assured the industry that the ministry will cons

States have agreed to bring petrol, diesel under GST: Maharashtra Finance Minister

Maharashtra Finance Minister Sudhir Mungantiwar on Tuesday said states had agreed to bring petrol and diesel under the ambit of Goods and Services Tax (GST).

"All the states have given the permission to bring petrol and diesel under GST. But we have to wait for the right time," Mungantiwar told BTVi in an interview in Hindi.

"All states have their ow

Heavy investment needed in aviation sector: ICRA

A report has said that the aviation sector will need an enormous Rs 2.4 trillion investment over the next decade to meet the rising passenger traffic which has touched the high double digits all through the year. As per reports, the country invested around Rs 52,000 crore over the last decade at various airports.

The projected investment requirement is more than four times the amount

Government appoints executive directors in 9 public sector banks

The government has approved the appointment of executive directors (EDs) for nine public sector banks. Bajrang Singh Shekhawat has been appointed executive director of Central Bank of India, an order issued by the Department of Personnel and Training (DoPT) read. He is at present a general manager (GM) in the same bank. Govind N Dongre, general manager in Vijaya Bank, will be ED of Punjab and S

Indian IT cos expect layoffs, shrinking job mkt in next 2 qtrs

Indian IT professionals are likely to see reduced job opportunities in the next six months as traditional roles are increasingly getting disrupted in the wake of automation and digitisation, a survey found out. According to the Experis IT Employment Outlook Survey released today by Experis IT ManpowerGroup India, IT hiring intentions will further slacken for October 2017March 2018.

Th

Global air travel demand surged 7% in 2016: IATA

IATA has said that global air travel demand surged 7 per cent last year to 3.8 billion passengers over 2015 with carriers from Asia-Pacific region accounting for more than one-thirds of the total market share. As per the International Air Transport Association (IATA)'s World Air Transport Statistics (WATS) report for 2017, airlines across the world added 242 million more passengers last yea

Sale of Chinese goods may drop 45% this Diwali: Survey

Sale of Chinese goods like lights, gift items, lamps and wall hangings may decline by 40-45 per cent this Diwali as compared to last year as Indians are likely to prefer domestic products like earthen diyas (lamps), according to a report. Chinese products had recorded a 30 per cent decline in sales last year on Diwali, the festival of lights which coincides with the Hindu New Year.

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NMCG approves eight projects worth over Rs 700 cr

National Mission for Clean Ganga has approved eight projects worth Rs. 700 crore, out of which four pertain to sewage management in Uttar Pradesh, Bihar and West Bengal, three are related to treatment of drains through bio-remediation and one of inventorization and surveillance of river Ganga, according to an official statement.

On sewage management front, a project for pollution abat

RBI to sell four dated government sec for Rs 15,000 cr on October 13

The Reserve Bank of India on Monday said it will auction four dated Government of India securities for Rs 15,000 crore on October 13, 2017. “The auction will be conducted using multiple price method, while stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the sale of Government Securities” RBI said in a notific

Road ministry to implement VEP in highways projects

The Ministry of Road Transport and Highways, has decided to implement a “Value Engineering Program” to promote the use of new technologies, materials, and equipment in highways projects executed either under PPP mode or public funding mode. “The objective of the programme is to use innovative technology, materials and equipment to reduce the cost of projects and make them more

Revival of gas power plants to boost consumption:Dharmendra Pradhan

Oil minister Dharmendra Pradhan said revival of 25 GW stranded gas-based capacity can push consumption of the fuel and transform the nation into a gas-based economy, reported PTI. "We taking country towards a gas-based economy. Power industry is one of the important industry. If we revive 25,000 MW stranded gas-based capacity and bring them under competitive price mechanism then our gas co

Visa`s digital payment project to touch 90% of Vizag population

 Visa, the global leader in digital payments technology, and the Andhra Pradesh government Monday announced that their initiative to make Visakhapatnam a less-cash city will soon touch 90 percent of the coastal city's two million population.

After successful completion of the pilots in few departments, they are looking to extend the digital payment to almost all citizen

No further extension in deadline to file July GSTR1 return

The government on Monday ruled out further extension of the deadline in filing the Goods and Services Tax (GST) return GSTR-1 for the first month of implementation in July on the ground of having already granted a two-month extension.

"The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. An extension of two months has already been given. There w

Fiscal test: As India`s smaller firms struggle, Modi faces stimulus dilemma

NEW DELHI/MUMBAI - India's festive season should be a time of celebration for textiles businessman Habib Ansari, who usually spends October counting a boom in profits from supplying retailers ahead of a month of peak shopping.

This year Ansari is grappling with losses, and blames a 50 percent drop in sales in the last three months on confusion wrought by the July