Fitch lowers India`s 2017-18 growth forecast to 6.9%

 International ratings agency Fitch on Monday lowered India's growth forecast to 6.9 per cent, as the country's GDP growth unexpectedly faltered in the second quarter of 2017-18 (2Q17).

The ratings agency had earlier pegged India's GDP growth at 7.4 per cent.

According to Fitch's Global Economic Outlook (GEO) report, the downgrade came after the country&

Bumper crop expected as paddy procurement begins in Punjab, Haryana

Procurement of paddy officially began in agrarian states Punjab and Haryana on Monday with food and supplies officials saying that a bumper crop is expected this Kharif season.

Though official data was not immediately available, officials said that paddy arrival had started and was expected to pick up in the coming week.

Punjab Chief Minister Amarinder Singh has promised str

Second metro fare hike in year is violation of law: Arvind Kejriwal

Delhi Chief Minister Arvind Kejriwal on Monday said that Delhi Metro's proposed fare hike, the second in five months, is clear a violation of law and urged the central government to put the hike on hold.

Kejriwal said the hike will be in violation of the Fare Fixation Committee's (FFC) recommendation that "there shall be a gap of one year between two fare hikes", an

Smartphones made in India? Manufacturing ambition hits hurdles

NEW DELHI - India's ambitions to become a smartphone-making powerhouse are foundering over a lack of skilled labour and part suppliers along with a complex tax regime, industry executives say.

Prime Minister Narendra Modi has championed a manufacturing drive, under the slogan 'Make in India', to boost the sluggish economy and create millions of jobs. Among

Gadkari to perform `Bhoomi Poojan` of Wardha dry port on Monday

Union Shipping, Road, Transport and Highways Minister Nitin Gadkari will on Monday perform 'Bhoomi Pooja' of the Wardha dry port at Maharastra's Sindi, an official statement said on Sunday.

The dry port is being developed by the Jawaharlal Nehru Port Trust (JNPT) in a bid to cater effective logistics services to the industries in the state's Vidarbha region and improve

Subsidised LPG hiked by Rs 1.50 per cylinder, jet fuel by 6%

State-run oil marketing firms hiked the price of subsidised cooking gas by Rs 1.50 per LPG cylinder and jet fuel by six per cent, effective from Sunday.

According to the Indian Oil Corp (IOC), price of a subsidised 14.2 kg LPG cylinder will now be Rs 488.68 in New Delhi, as against Rs 487.18 earlier. 

Oil marketing companies (OMCs) revise rates of LPG and jet fuel on th

DMRC defends fare hike proposal

The Delhi Metro Rail Corporation on Saturday defended its decision on another fare hike saying its input costs have gone up over the years, and the increase is on par with other city metro rails.

In a statement issued here, the DMRC said it has been operating in the city since 2002, and is presently carrying around 27 lakh passengers everyday.

"To continue to provide a

Goyal tightens reins on Railways, gives top priority to safety

Tightening the reins on the railway administration, Railway Minister Piyush Goyal here on Saturday announced a series of measures according topmost priority to passenger safety in the wake of Friday's stampede which killed 23 Mumbai commuters.

Chairing a high-level meeting comprising officials of the Railway Board, top officials of Western Railway and Central Railway for the secon

Disclosure of bank loan defaults, SEBI defers stipulation

Securities and Exchange Board of India (SEBI) has deferred implementation of its stipulation asking listed companies from reporting payment default of interest on bank loan or instalments till further notice.

In a statement issued on Friday, SEBI said it has decided to defer implementation of its circular dated August 4 "until further notice" without giving any reason for th

SpiceJet orders up to 50 Bombardier Q400 turbo-props

Budget passenger carrier SpiceJet on Friday said that it has concluded a firm purchase agreement with Bombardier Commercial Aircraft for up to 50 Q400 turbo-prop aircraft.

According to SpiceJet, the new order is the single largest ever for the Q400 turbo-prop aircraft programme.

The company disclosed that the purchase agreement includes 25 Q400 turbo-props and purchase right

MG Motor launches first manufacturing unit in India, to invest Rs 2k cr

Britain-based automotive marque MG Motor on Friday announced the inauguration of its first-ever manufacturing facility in India, through a minimum initial investment of Rs 2,000 crore.

With an initial capacity of 80,000 units per annum in the first phase, MG Motor India will roll-out its first product from the plant in 2019, the company said in a statement.

The MG brand orig

NHAI to generate 50 crore man-days employment in four years

The National Highway Authority of India's (NHAI) ongoing and targeted projects would generate employment of around 50 crore man-days over the next four years, an official statement said on Friday.

"This would be averaging to nearly 12.5 crore man-days yearly from 2018-2022. Of this, about one crore will be professional man-days, 3.5 crore skilled labour man-days and eight cro

Telecom Commission approves extension of deferred spectrum payment

The Telecom Commission on Friday approved the much-awaited extension of deferred spectrum payment liability till 16 years, an official source said here.

The panel has also approved the shift from pending lending rate (PLR) to marginal cost of funds based lending rate (MCLR) regime for calculation of interest on delayed payment of licence fees and spectrum usage changes plus 400 points

Telecom regulator floats consultation paper for in-flight connectivity

In view of the rising demand for in-flight connectivity (IFC), the Telecom Regulatory Authority of India (TRAI) on Friday issued a consultation paper on the same where it has asked the industry stakeholders about what type of IFC services should be permitted in India.

"Which of the following IFC services be permitted in India? a. Internet services b. Mobile Communication services

Reliance`s buyback option on latest iPhones may boost Apple`s India presence

NEW DELHI/MUMBAI - India's Reliance said on Friday that customers of its Jio telecoms unit who buy the latest Apple  iPhone models from partner stores could sell them back in a year at a guaranteed price, a move that could help the U.S. tech firm expand in India.

The offer, which comes during the Indian festive season when discretionary spending typically ris

Kudankulam`s second 1,000 MW unit`s restart date extended again

 The restarting of the second 1,000 MW nuclear power unit at Kudankulam has once again got delayed by one more month to November 3, the Power System Operation Corporation Ltd (POSOCO) said on Friday.

The mega nuclear power plant was shut down on August 4 due to hydrogen concentration in the stator was originally expected to restart generation on September 4.


ACME Solar files IPO papers with Sebi to raise Rs 2,200-cr

ACME Solar Holdings has filed preliminary papers with Sebi to raise Rs 2,200 crore through an initial public offering, according to draft papers filed with the markets regulator, reported PTI. Funds raised through the issue would be used to pay debt and to finance the company's 200 MW solar power project in Rajasthan and for other general corporate purposes.

Besides, the company i

If I wanted Finance Ministry, Jaitley wouldn`t have been there: Yashwant Sinha

Former Finance Minister Yashwant Sinha on Friday again attacked Arun Jaitley, saying that if he was a "job applicant" at 80, then Jaitley would not be holding charge of the Finance Ministry now.

Sinha also told the media that those who had never won a Lok Sabha election were questioning and attacking him and misleading the people of the country over the issue of black m

Railways mulling amendment in flexi fare scheme

The Indian Railways has said that the flexi fare scheme of the Railways, which helped it earn an additional Rs 540 crore in less than a year, may be amended to ensure that it brings in revenues without taxing passengers. Commenting on the issue, Rail Minister Piyush Goel told the media, "People have brought to my notice the issue of the flexi fare scheme.

It could be made better

No connect between IUC, financial stress on telcos: Trai

Regulator Trai rejected argument that reduction in mobile call connection rates has any linkage with financial stress in the telecom sector, saying the charges are not meant for making profit, reported PTI. "To my understanding there is no connection between stress in the telecom sector and IUC rates because rates cannot be profit vertical for any company. You get compensated for whatever

100 percent rural road connectivity by 2019: Narendra Singh Tomar

 Rural Development Minister Narendra Singh Tomar said on Thursday that coverage of Pradhan Mantri Gram Sadak Yojana (PMGSY) has increased from 64 per cent to 81 in the last three years and hoped that 100 per cent rural road connectivity will be achieved by 2019.

Talking to reporters here, Tomar said the allocation for all major flagship programmes of the ministry has gone up

Railways to engage with ISRO for rail safety: Piyush Goyal

Indian Railways is working with the Indian Space Research Organisation (ISRO) to devise safety mechanisms to make travel by trains more safer, Union minister Piyush Goyal said as per the PTI report. The minister said that he met ISRO Chairman A S Kiran Kumar few days back and Indian Railways along with RailTel are working together to explore use of space technology for safety in railways.

Present economic policies corporate-centric: RSS affiliate

An RSS affiliate on Thursday said that although it does not endorse BJP leader Yashwant Sinha's view that the Modi government's economic policies led to a decline in the economy, the present economic policies are "corporate-centric" and not focussed on the common man.

"As far as Yashwant Sinha's criticism of the state of economy is concerned, we do not

Delhi Government asks DMRC to put off fare hike

The Delhi Government has said that it has told the Delhi Metro Rail Corp (DMRC) to hold an impending fare hike till it completes an enquiry on the proposed increase. Commenting on the issue, Delhi Transport Minister Kailash Gahlot told the media, "Delhi Metro is directed to put on hold any further hike till Delhi government completes its enquiry and forms an opinion on this subject."<

Mobile Congress a success, more industry players want to join us: Organisers

 Touting the first 'Indian Mobile Congress (IMC)' 2017 as a success, the organisers on Thursday said many more industry players want to participate from next year and hoped that IMC will be established as a signature annual event for the growing mobile, Internet and technology ecosystem in India.

"This has been a good beginning. In terms of participation, we had over