In a move that is likely to benefit thermal power producers and coal manufacturers in India, power minister Raj Kumar Singh today said that efforts are being made to move towards ‘time of day’ tariff system to balance the interest of traditional and emerging power sectors. “We must understand that renewables cannot help us meet […]
Bangladesh beat USA to emerge as the top source of tourists to India in January. The country contributed 16.4% of India’s foreign tourists for the month, followed by USA with 14.1% and UK with 10.8%. Delhi International Airport accounted for the highest number of foreign tourist entries into India, with 28% of all foreign tourists […]
An oil exploration ship that was being repaired at the Cochin Shipyard was the site of an explosion today, resulting in several deaths. The incident took place on oil exploration vessel Sagar Bhushan, which is reportedly owned by ONGC. According to local media, at least 15 workers have been injured. Out of these, 4 people […]
Thomas Cook, India’s largest travel services company, said it was chosen as the hospitality partner for government of India’s national school games that was held as part of the ‘Khelo India’ (Play India) program last week. Without disclosing the financial details of the contract, Thomas Cook said it provided accommodation and meals for 5,000 students […]
Star India’s digital business, Hotstar, will make content available via Bharti Airtel’s TV app. The companies did not clarify if all content on Hotstar will be available or not. Given that it costs Rs 199 per month to access all content on Hotstar, that is unlikely. This is the second tie-up that Hotstar, part of […]
Ortel Communications (Ortel), the Orissa-based cable and broadband services provider, reported a loss of Rs 6.6 cr for the third quarter as its broadband business was hit by 4G providers and cable business was under competitive pressure from DTH services. The loss of 6.6 cr compared with a loss of Rs 1.5 cr last year, […]
The income tax department has been able to identify millions of non-tax-filers and collect Rs 26,425 cr of self-declared tax by using software to analyze third party financial and transaction data over the last six years, the finance ministry said. The income tax department has been analyzing financial and transactional data since the year 2013 […]
The government can heave a sigh of relief as the Goods and Services Tax collection for January have come in slightly stronger than what many expected. The final number for January is Rs 88,929 cr, an increase of 6.3% over Rs 82,716 cr recorded in the previous month. The declines were a matter of concern […]
The percentage of Indians who have access to toilets has jumped to 77.52% from 38.7% in October 2014, the ministry of drinking water and sanitation said. The jump is largely due to the implementation of the Swachh Bharat (Clean India) Mission. Under the mission, a total of 6.11 cr toilets have been built in rural […]
India’s auto giant Mahindra & Mahindra said it has agreed to sell control of its Japanese speciality steel business to joint venture partner Sanyo Special Steel co for Rs 146.32 cr. Mahindra & Mahindra will sell 22% of the company, in which it used to own a 51% stake, and reduce its share to 29%. […]
Rajyavardhan Rathore, junior minister for information and broadcasting today confirmed that Doordarshan has given permission to eleven companies to manufacture set top boxes with encryption for use on its DTH service DD Free Dish. The statement confirms that the much delayed encryption of the service is on track and will be implemented once the stock […]
Information and Broadcasting minister Smriti Irani today clarified that there was no ‘ban’ on the transmission of condom ads during daytime, and that restrictions have been imposed only on ads that “objectified women”. Irani said she had already clarified the matter in response to a query by the health ministry on whether the ministry’s ads […]
Pharma major Lupin said it has launched a generic version of Concordia’s ADHD drug Kapway in the US. Kapvay tablets has annual sales of approximately USD 66 million in the US. It was in November last year that Lupin and Ajanta Pharma said they’d both got approval to launch Clonidine Hydrochloride tablets from the US […]
The government of India is exploring ways to ban the advertising of junk foods and soft drinks on television channels targeted at children, junior minister for information and technology Rajyavardhan Rathore told the parliament today. Rathore said intimations in this regard will be sent to television channels soon, and the idea was to discourage children […]
Auto components maker Bharat Forge Ltd said it was buying a 45% stake in Tork Motorcycles at a cost of up to Rs 30 cr, taking yet another step towards adapting to the upcoming shift from internal combustion engines to electric vehicles. Tork has designed, developed and built a complete electric motorcycle, the company said. […]
Housing Development Finance Corporation Ltd has tied up with Bangalore-based real estate player Prestige Estates to invest Rs 2,500 cr in affordable housing. The tie-up has been implemented through its subsidiary HDFC Capital Advisors Limited, which is the investment manager to HDFC Capital Affordable Real Estate Fund 1. The fund, which focuses on middle income […]
Telecom minister Manoj Sinha today said that the government has ‘no plans’ to merge state-owned telecom service providers Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd. Sinha also said that BSNL is going ahead with the outsourcing of operations and maintenance activities of 26,287 towers across the country to third parties. “At present, there […]
The government has reduced the Goods and Services Tax on amusements parks and events such as circus, pageants, drama, functions and concerts. While the GST rate on amusements parks has been reduced to 18% from 28%, all ticket sales of up to Rs 500 each for events has been made GST free. The new rate […]
The government has cut the GST rate of ‘affordable houses’ covered by the ‘Credit Linked Subsidy Scheme’ to an effective rate of 8% from an effective rate of 12%, and also said that most customers should not have to pay any GST on such flats at all. The reduction in GST has been made to […]
SpiceJet reported a 32% increase in its net profit to Rs 239.99 crore for the three months ended December from Rs 181.14 crore in the same quarter last year. The airline’s capacity grew by 14% during the same period. SpiceJet reported an operating revenue of Rs 2,081.95 crore in the quarter, up 27% on year. […]
