New textile policy may be finalised in next three months

The much-awaited new textile policy is likely to be finalised in the next three months, a senior official said as per the PTI report. "After consultation is done with stakeholders we have finalised the draft. We are now trying to incorporate international response and output from foreign players at the forthcoming Textiles India-2017 conference, which will serve as input to our textile pol

Government close to resolution on stressed power projects: Piyush Goyal

The government is "very close" to firming up a resolution mechanism for stressed and stalled thermal as well as hydro power projects, Power Minister Piyush Goyal said according to the PTI report. According to industry estimates, there are stressed and stalled hydro and thermal power project of over 35,000 MW including 11,639 MW hydro electric plants.

Experts put the value at

Administrator appointed for Sahara India Life Insurance

In a first order of its kind order, India's insurance regulator on Monday appointed an administrator to manage the affairs of private life insurer Sahara India Life Insurance Company Ltd.

As per the order issued by the Insurance Regulatory and Development Authority of India's Chairman T.S. Vijayan, R.K.Sharma, a General Manager in the IRDAI has been appointed as Administr

Job market remains volatile

With the uncertainty across industries and cities, the job market continues to be volatile, according to the Naukri Job Speak index released on Monday.

The index for May at 1904 was 4 per cent down from year-ago month, indicating a fall in the overall new job creation scenario.

The IT-software industry was hit the most during the last month with a 17 per cent decli

India Inc. reiterates rate cut demand as IIP growth slows, CPI falls

 With slowing down of industrial production growth to 3.1 per cent in April and falling consumer price index to 2.18 per cent in May, industry players on Monday reiterated its demand for an interest rate cut by the Reserve Bank of India.

" is unfortunate for the industry that while the government has taken steps to revive the demand by accounting for substantial pro

No need to cap iron ore prices, plan to expand output: Government

The mines ministry today said it has no plans to cap the prices of iron ore as there is no shortage of the key steel-making raw material. It also said the country is looking at expanding the iron ore production and that will take care of market dynamics. "There is no shortage of iron ore and at present there is no thinking in the mines ministry of capping of iron ore prices," Mines Se

Strike begins in Bengal`s tea gardens

The joint forum of trade unions of the tea industry in north Bengal on Monday began a two-day industrial strike, demanding implementation of minimum wages among other things.

Tea production in the hills is expected to take a hit.

"The response so far has been overwhelming. As many as 90 per cent tea workers in the hills joined the strike. For example, only 18

Electronics import by India to touch $300 bn by 2020: Study

High demand for electronics could outpace domestic production, leading to an import requirement of about USD 300 billion by 2020, a report by Assocham-NEC today said. The report pointed out that while demand for electronic products in India is expected to grow at a CAGR (compound annual growth rate) of 41 per cent to reach USD 400 billion by 2020, domestic production is growing at a CAGR of 27

Finance Minister reviews NPA scenario with top bankers

Finance Minister Arun Jaitley took stock of the finances of public sector banks as also the resolution of bad loans or NPAs, with heads of the lenders, reported PTI. Besides NPA resolution and bank finances, the meeting also featured the government's financial inclusion schemes.

RBI, Jaitley said, is in an advanced state of preparing a list of bad loans where resolution is require

Government moves ahead to resurrect stalled power projects

Signalling the intent of the government, Power Minister Piyush Goyal today said the ministry is doing its job to revive stalled and stressed thermal and hydro power projects. "We are close to resolution of stressed thermal power projects soon where developers are not wilful defaulters," Goyal told reporters here while speaking about three years of the government's performance.

Mutual funds see Rs 41,000 cr outflow in May

Investors have pulled out nearly Rs 41,000 crore from various mutual fund schemes in May, with liquid funds witnessing most of the outflows. This comes following an inflow of about Rs 1.51 lakh crore in the preceding month.

Morningstar Investment Adviser Director of Fund Research Kaustubh Belapurkar attributed the outflow to withdrawal from liquid funds, which are susceptible to sharp

Textile body hails revision of job work rates

Indian Texpreneurs Federation (ITF) hailed the revision of job work rates for textile, leather and gems and jewellery sectors to 5 per cent from 18 per cent announced earlier, reported PTI. In a statement, ITF secratary, Prabhu Dhamodharan said that for the past one week, all associations from here were requesting and representing for this reduction, which was done in the GST Council meeting.

Railways to induct 40,000 refurbished coaches

The Indian Railways is planning to induct about 40,000 coaches with improved interiors and upgraded facilities at an estimated cost of Rs 8,000 crore to provide world-class comfort to passengers.

Besides, the state-run transporter will strengthen safety features in all existing conventional coaches equipping them with strong couplers to prevent capsizing during accidents. According to

FMCG products to see decline in volume post GST: Britannia

FMCG products will see a decline in volume in the short term with channel partners of companies keeping less stock in view of GST, which is set for July 1 launch, according to Britannia Industries.

The company, however, said that with tax rates for the overall biscuit category being largely neutral, GST would provide a level-playing field to organised players in the industry. "Th

MSME units can now file GST-related grievances online

Micro, small and medium enterprises will now be able to file GST-related grievances online, with the government putting in place a monitoring mechanism in this regard The units can put forth their suggestions, complaints and seek guidance or information pertaining to the new indirect tax regime using the Internet Grievance Monitoring Mechanism established by the MSME Ministry.

The fac

Government to unveil analytics tool to offer price trends for travelers: Reports

The Indian Government has said that it is planning to have an analytics tool that will provide future ticket price trends for the travellers, amid persistent concerns over steep fluctuations in airfares.

As per reports, historical data analysis as well as price curves with predictive data analytics are proposed to be utilised to have a long term picture about airfare trends in differe

Telecom industry disappointed at unchanged GST rate

Industry body COAI said it is disappointed with GST rate for telecom services remaining unchanged at 18 per cent, reported PTI.

The Cellular Operators Association of India which has Bharti Airtel, Vodafone, Idea Cellular and Reliance Jio as members - has been pushing for lowering of Goods and Services Tax, or GST rate, for telecom services to five per cent in sync with essential servi

No order for fresh aircrafts till clarity on future: Air India

National carrier Air India has said that it will not place any order for new aircraft till there is clarity on its future course, including possible privatisation.

The airline, however, said all the existing orders will be respected and new aircraft are being added to the fleet. Commenting on the issue, Air India Chairman and Managing Director Ashwani Lohani told the media, "

Coal Ministry sets up GST cells for stakeholders: Reports

The Ministry of Coal has said that it has held a meeting to review preparedness of the stakeholders for the new tax regime and set up a facilitation cell. Besides, GST cells have been made operational in each of the PSU under the ministry.

Commenting on the issue, Ministry of Coal Official said, "With a view to facilitating implementation of GST for the stakeholders concerned, th

Ports to act as catalyst to achieve consistent growth: Amitabh Kant

NITI Aayog CEO Amitabh Kant has said that ports can act as a catalyst for India to achieve a consistent growth rate of 10 per cent. Commenting on the issue, NITI Aayog CEO Amitabh Kant told the media, “The Sagarmala programme is a game-changer.

Ports can act as the catalyst of growth and help in achieving 10 per cent consistent growth rate for the country, hence making Sagarmala

Top telecom leaders to meet Finance Minister amid mounting financial stress: Reports

Top telecom leaders, including Sunil Bharti Mittal, Kumar Mangalam Birla and Anil Ambani, are expected to meet Finance Minister Arun Jaitley and Telecom Minister Manoj Sinha on June 22 amid mounting financial stress in the sector, said media reports.

According to sources, the industry leaders will first discuss the current state of financial stress in the sector with Sinha and later i

Impoverishment of agri sector, loan waiver triggered protests: Experts

The almost deliberate impoverishment of the agriculture sector by successive governments, which has translated into poor returns to farmers, and the recent loan waiver decision by Uttar Pradesh appear to have triggered massive protests in many states, including Maharashtra and Madhya Pradesh.

Farmers are struggling hard to meet their input expenses due to a drop in prices of agricultu

SAIL-Arcelor Mittal joint venture to be formalised soon: Minister

 Steel Minister Chaudhary Birender Singh on Saturday said that the joint venture (JV) between state-run SAIL and Arcelor Mittal will be formalised soon.

He was speaking at a press conference here after holding a Consultative Committee meeting on achievements of the Steel Ministry during the last three years of the NDA government.

SAIL and Arcelor Mittal had si

Auto makers want government to keep GST rate on hybrids at 18%

Auto makers have asked the government to reduce GST rate on hybrid vehicles to 18 per cent, saying clubbing the eco-friendly automobiles with big luxury models is "incomprehensible".

As part of auto industry's representation to the GST Council, which will meet on June 11, automobile manufacturers have asked the government not to levy any cess on hybrid vehicles.