The National Highways Authority of India (NHAI) on Tuesday said it has initiated an internal investigation into allegations that some of its officials were bribed by a US-based construction firm between 2011 and 2015.
"NHAI has initiated an internal investigation into alleged payment of bribe money to its officials as reported in the media," said the statement.
Domestic air passenger traffic crossed the 10-million-mark for the first time in India during May 2017, ratings agency ICRA said on Tuesday.
According to an ICRA note, the growth in passenger traffic was achieved as a result of peak season demand, whereby the passenger load factor (PLF) for the domestic aviation industry touched a new high of 88.9 per cent.
Union Minister Piyush Goyal on Tuesday advocated introduction of PPP (public private partnership) model to give a boost to the country's mineral exploration sector.
According to the Minister of State (Independent Charge) of Power, Coal, New and Renewable Energy and Mines, a PPP model could give a fillip to mineral exploration.
Goyal was speaking at a conf
National Highways Authority of India’s payment of mobilisation advances to developers will provide a fillip to the construction pace of hybrid annuity model (HAM) projects, says India Ratings and Research (Ind-Ra). HAM was introduced to rejuvenate the road sector and lessen the equity burden on the already stressed developers. Lenders are gradually familiarising with this contract structu
The IX Phase of the prestigious Science Express exhibition train which is on a Nationwide tour since 17 February 2017 reached Madgaon in Goa today i.e. 11 July 2017, the Ministry of Railways notified on Tuesday. This phase of train is being referred as ‘Science Express Climate Action Special (SECAS)’ highlighting the global challenge of climate change. Minister of Railways Suresh Pr
The Common Service Centres (CSC) programme has given employment to 10 lakh people in India and, in the near future, one crore people will work in CSCs, IT Minister Ravi Shankar Prasad said here on Tuesday.
"I have great expectation from CSC VLEs (Village Level Entrepreneurs). Our VLEs are change-makers of India. CSCs have given employment to 10 lakh people in India. I am con
The finance ministry is gearing up to introduce a host of Bills, including the Banking Regulation (Amendment) Bill, repeal of State Bank of India (Subsidiary Banks) Act, 1959, among others, in the upcoming Monsoon Session, reported PTI. Besides, it is working on the Banning of Unregulated Deposit Schemes and Protection of Depositors Interests Bill.
The Department of Financial Services
The Darjeeling tea industry has said that it is expecting a loss of Rs 250 crore due to the ongoing shutdown called by Gorkha Janmukti Morcha(GJM) which entered the 26th day today. Commenting on the issue, Darjeeling Tea Association(DTA) chairman Binod Mohan told the media, "The second flush tea is premium tea which is mostly exported.
There is no production of the tea since the
Gold exchange traded funds (ETFs) continued losing steam as an investment class with investors pulling out more than Rs 200 crore from the instrument in the first quarter of the current fiscal, preferring equities over them, reported PTI. The outflow meant assets under management (AUMs) of gold funds plunged by over 22 per cent during the quarter to Rs 5,174 crore, from Rs 6,645 crore in the ye
Urban Development Minister M Venkaiah Naidu has said that his ministry has asked all states to put in place regulatory mechanism related to the Real Estate (Regulation & Development) Act (RERA) by July 30. Commenting on the issue, Urban Development Minister M Venkaiah Naidu told the media, "I have been constantly following with chief ministers. I wrote two letters. Today my third and f
India, projected to be the most populous country over the next decade, will be the worlds largest milk producer by 2026 and will account for the biggest increase in wheat production globally, according to a report by the UN and OECD. The OECD-FAO Agricultural Outlook 2017-2026 said the worlds population will increase from 7.3 to 8.2 billion over the course of the next decade with India and Sub-
Minister of Housing & Urban Affairs M.Venkaiah Naidu on Monday released the new version of NHB RESIDEX on the occasion of the National Housing Bank entering its 30th year. The revamped and expanded official online user friendly NHB RESIDEX that captures movements in the prices of residential real estate prices released today revealed that prices during January-March, 2017 have increased ove
The Reserve Bank of India on Monday said that it will conduct four dated Government securities for Rs 18,000 crore on July 14, 2017. “The auction will be conducted using multiple price method,” the RBI said in a press release. The apex bank said that up to 5 per cent of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the
Indian Railways achieves a major landmark in the field of Eco friendly fuel technologies at Indian Railways Organization for Alternate Fuel (IROAF) which has been awarded the coveted National level “Golden Peacock Award for the Year 2017 for Eco-Innovation” for substitution of fossil fuels (Diesel) by environment friendly CNG in DEMU passenger train services.
GMR Goa International Airport Ltd. (GGIAL) on Monday said it has executed debt facility agreement for the development of a greenfield airport at Mopa located in north Goa.
"The entire debt of Rs 1,330 crore was underwritten by Axis Bank on long tenor door-to-door basis of 18 years on competitive terms," said Sidharath Kapur, President, GMR Airports.
With over 2,000 petrol pumps across Kerala threatening to observe a shutdown on Tuesday, serpentine queues were seen outside many stations in the state on Monday.
The petroleum dealers have announced the shutdown to protest the new policy of petroleum companies, necessitating daily revision of petrol and diesel prices, saying it's causing them losses.
As part of the shut
Tamil Nadu Chief Minister Edappadi K. Palaniswami on Monday urged the Central government to allocate to Tamil Nadu the entire 2,000 MW power to be generated from the third and fourth nuclear power units to come up in Kudankulam in Tirunelveli district.
Union Minister of State (Independent charge) Piyush Goyal met Palaniswami at the state secretariat here on Monday.
The Indian Railways has said that it is planning to install automatic flap gates with bar code scanners at stations to facilitate faster ticket checking and ease the pressure on ticket examiners and collectors. As per reports, to begin with, the access control system, already operational in Kolkata and Delhi Metro services, will be implemented at non-metropolitan stations where traffic rush is
The shipping ministry has said that it has asked the GST Council to exempt cruise tourism under the new indirect tax regime, in line with major cruising nations. At present, cruise tourism is not taxed and the shipping ministry wants to keep it out of the GST regime in order to boost the industry. Commenting on the issue, a Ministry of Shipping Official told the media, "Major cruising nati
India's garment exports are expected to register a 15-18 per cent growth in FY 18 as against USD 17 billion registered last year, a senior government official said. "We have clocked 18 per cent growth in garment exports since January 2017 and we hope that similar trend may continue for remaining period this year. Last year our garment exports stood at USD 17 billion," Textile Comm
Domestic passenger vehicle sales declined by 11.21 per cent to 198,399 units in June from 223,454 units in the same month last year. Domestic car sales were down 11.24 per cent to 136,895 units as against 154,237 units in June last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Motorcycle sales last month, however, rose 2.18 per cent to 964,