Suresh Prabhu launches new rail coach with glass roof, GPS

 Railway Minister Suresh Prabhu on Sunday inaugurated the new Vistadome coach which has glass roof, LED lights, GPS-based info system and rotating seats among other features.

While flagging off the train with Vistadome coaches between Visakhapatnam and Araku through video conferencing from Rail Sadan here, he said that the Vistadome coaches' features will enable tourists to e

Numaligarh Refinery signs MoU to import crude oil via Paradip port

Numaligarh Refinery Ltd (NRL) on Sunday signed an MoU with Paradip Port Trust and Indian Oil Corporation for import of crude oil through Odisha's Paradip Port, an official statement said.

This will enable the NRL to import crude oil through Paradip Port for its proposed refinery expansion at Numaligarh (Assam) from three million tonne per annum to nine million tonne per annum.

Narendra Modi in Surat, welcomed with road show

  Prime Minister Narendra Modi arrived here on Sunday on a two-day visit to Gujarat, to be welcomed by a unique road show where an 11-km saree will list the BJP's achievements.

The road show will begin from the Surat airport and continue till the Circuit House where the Prime Minister will spend the night.

The saree will cover the entire stretch of the road show dep

Tower industry to see boost in M&As this year

The year 2017 will see change and consolidation in the telecom towers industry, according to a top official of the Towers and Infrastructure Providers Association (TAIPA).

"The year 2017 will be the year of innovation, disruption and transformation. It will also witness mergers and acquisitions (M&As)," Tilak Raj Dua, Director General, TAIPA, told IANS in an intervi

Petrol, diesel prices hiked

Petrol price will be up by Rs 1.39 per litre, while diesel price will go up by Rs 1.04 per litre from Sunday, the Indian Oil Corporation announced on Saturday.

"The current level of international product prices of Petrol and Diesel and INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with th

Pepsi to sell mineral water at same MRP across country: Ram Vilas Paswan

Union Food and Consumer Minister Ram Vilas Paswan on Friday said that PepsiCo India has agreed to sell its bottled mineral water "Aquafina" at the same Maximum Retail Price (MRP) across the country.

He also said that the Board of Control for Cricket in India (BCCI) too has issued orders to stadiums affiliated to it to charge one MRP for drinking water bottles.

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India, France to strengthen cooperation in railway sector

India and France on Thursday reaffirmed their commitment to further strengthening their cooperation in the field of railways and agreed that mutual collaboration and exchange of expertise will benefit both countries.

In a bilateral meeting, Minister of Railway Suresh Prabhu and France's Minister of State for Transport, Marine Affairs and Fisheries Alain Vidalies decided to share t

Supreme Court calls for collective effort to clear up polluted air

The Supreme Court on Thursday said the time has come for all to realise that a collective effort was needed to clear up the polluted air and the automobile industry has a huge role to play in this.

Asking the automobile industry to wake up to their responsibility for the benefit of the people, the bench of Justice Madan B. Lokur and Justice Deepak Gupta said that "It is time to r

Digital payments up nearly 23 times since demonetisation: Government

There has been nearly 23-fold increase in the number of digital payments since the November 8 demonetisation, the government said on Thursday.

The transactions using various digital payment modes went up to 63.80 lakh with a total transaction value of Rs 2,425 crore till March this year, as against 2,80,000 transactions and Rs 101 crore till November 2016, a NITI Aayog statement said.

Centre committed to maintaining fiscal discipline: Finance Secretary

Union Finance Secretary Ashok Lavasa on Thursday said the government is committed to maintaining fiscal discipline and would continue to find resources to meet the development requirements, following the FRBM panel's suggestion for a new fiscal roadmap recommending it to target a fiscal deficit of three per cent by 2020.

The N.K. Singh Committee, which had submitted its repor

Nuclear Fuel Complex breaks own world record of production

The Nuclear Fuel Complex (NFC), part of the Department of Atomic Energy (DAE), on Thursday said it has set a new world record with production of 1512 Ametric tonnes (MT) of nuclear fuel in 2016-17, surpassing its own record

NFC in Hyderabad, which produces fuel assemblies required for all the operating nuclear power reactors in the country, became world's highest producer of

CEA calls FRBM panel fiscal deficit targets 'arbitrary'

In his dissent note to the Fiscal Responsibility and Budget Management (FRBM) Review Committee report, Chief Economic Adviser (CEA) Arvind Subramanian has described the fiscal deficit targets suggested by the committee as "arbitrary". Adherence to it will aggravate "booms and busts" in the economy, he has said.

The committee headed by former Revenue Secretary

Global semiconductor revenue to up 12.3% this year: Gartner

Global semiconductor revenue will total $386 billion in 2017 -- an increase of 12.3 per cent from 2016, market research firm Gartner said on Thursday.

Favourable market conditions that gained momentum in the second half of 2016, particularly for commodity memory, have accelerated and raised the outlook for the market in 2017 and 2018.

"While price increases fo

Amazon India gets RBI nod for mobile wallet

Online marketplace Amazon India has secured a licence to operate pre-paid payment instrument (PPI) or mobile wallet in the country as it tries to compete more aggressively against rivals Snapdeal and Paytm. The approval will help the US-based giant to cash in on the booming digital payments market in India. "We are pleased to receive our PPI license from the RBI (Reserve Bank of India). Ou

EPFO defers decision on hike in ETF investments

The board of retirement fund body EPFO deferred the proposal to raise investment in stock market to 15 per cent of its investible deposits from current 10 per cent, reported PTI. "It was proposed to increase investments in the Exchanges Traded Funds to 15 per cent. But trade unions representatives opposed it," an EPFO trustee said after the meeting.

The trustee further said

RBI announces draft guidelines of simplified hedging facility

The Reserve Bank of India has released draft guidelines of Simplified Hedging Facility for Residents and Non-Residents which permits dynamic hedging of currency risk and simplifies the procedure involved in booking hedge contracts. To monitor activity under this facility, banks and exchanges will report customer data to the Trade Repository on a regular basis. Comments on the draft guidelines a

Government nod for refund of Rs 2,700 cr claims under export scheme

The Cabinet has approved a proposal for refund of Rs 2,700-crore claims to exporters under an export promotion initiative Target Plus Scheme in pursuance of a Supreme Court judgement. The decision was taken at the Cabinet meeting chaired by Prime Minister Narendra Modi here. The Cabinet "approved the implementation of Supreme Courts judgement dated October 27, 2015, regarding Target Plus S

78% of credit card users pay full balance: Survey

As high as 78 per cent of users in the country pay off their full balance on credit cards, a survey has found. The survey of 1,100 people, commissioned by a credit information company, also found that 13 per cent pay more than minimum payment due but not the full balance. This included 6 per cent who said they pay much more than the minimum balance and 7 per cent who said they pay slightly more

IPO fever ahead: Government identifies 6 PSUs to list on bourses

The government has identified six profit making PSUs, including four from defence sector, for accessing the capital market in the current fiscal and listing on stock exchanges, reported PTI. The Department of Investment and Public Asset Management (DIPAM) is scouting for merchant bankers and legal advisors to advise the government on the Initial Public Offering (IPO) of MSTC, NEEPCO, Bharat Dyn

Cabinet okays setting up of IIPE at Visakhapatnam

The Union Cabinet has approved setting up of an Indian Institute of Petroleum and Energy (IIPE) at Visakhapatnam in Andhra Pradesh at a cost of over Rs655 crore, fulfilling the commitment made to the state when Telangana was separated from it. The Cabinet headed by Prime Minister Narendra Modi approved setting IIPE as ‘an Institute of National Importance’ through an Act of Parliamen

Cabinet nod for India-Bangladesh pact in hydrocarbon sector

The Union Cabinet has approved signing an agreement with Bangladesh for cooperation in the hydrocarbon sector. The non-binding Framework of Understanding (FoU) on Cooperation in Hydrocarbon Sector will be valid for five years, an official statement said.

"The objective of the proposed FoU is to establish a cooperative institutional framework mechanism to facilitate and enhance In

Operating ratio of Railways deteriorates in FY-2016-17: Reports

The Indian Government has said that the operating ratio of the railways has witnessed deterioration in comparison to previous fiscals. As per reports, the railways' operation ratio was 91.3 per cent during 2014-15. It improved to 90.5 per cent in 2015-16. However, for the fiscal 2016-17, operating ratio was 94.9 per cent, a deterioration over the last year. As per reports, in the railways,

Metre gauge tracks to be converted into broad gauge: Railway Minister

The India Railways has said that all Metre Gauge tracks in the country will be converted into Broad Gauge phase-wise. Commenting on the issue, Railway Minister Suresh Prabhu told the media, "All Metre Gauge lines will be converted into Broad Gauge phase-wise. We have already taken a decision in this regard."

The Minister said the Railway Ministry has been mobilising Rs 3.5 l

India to add 6,000 MW wind power capacity: Reports

An industry body has said that India may add around 6,000 megawatts (MW) of wind power capacity in the ongoing fiscal. Commenting on the issue, Indian Wind Turbine Manufacturing Association (IWTMA) Chairman Sarvesh Kumar told the media, "The government's target (for the 2017-18) I think is 4,500 MW. We know that we have number of challenges in front of us, but we will try our best to g

Government ports outperform private ones for second straight year: Ministry

The 12 major ports under the Shipping Ministry outperformed private ports for the second consecutive year in 2016-17, registering a traffic growth of 6.79 per cent, an official statement said on Wednesday.

In comparison, the private ports registered a traffic growth rate of 4 per cent this year, a ministry statement said.

Altogether, the 12 major ports operated by