Category: UNCLASSIFIED

The Assam division of ONGC, which contributes about 3.7% of the company’s total production, failed to meet its gas sales target during last financial year due to a lack of demand, the oil and gas producer said. The company is India’s biggest gas producer, accounting for about 75% of India’s total production, but has seen […]

In a major push to market development in Latin America, Government has removed the upper ceiling with regard to eligibility for Market Development Assistance (MDA) for participation in Buyer-seller Mission BSMs/fairs/exhibitions abroad to explore new markets in focus countries of Latin America for export of their specific product(s) and commodities from India in the initial […]

Cairn India, the majority-owner of the Rajasthan block that produces a fifth of India’s crude oil, expects to drill 100 new exploration wells in Rajasthan over the next three years in search for new oil deposits, the company said. The company currently produces about 175,000 barrels of oil per day (8.5 million tonnes per year), […]

The Indian constitution prohibits giving reservation on the basis of religion, the central government told Sabir Ali, a Rajya Sabha MP from Bihar. In a question to the government, Ali had pointed out that paragraph 3 of the Presidential Order of 1950 that granted reservation for Scheduled Castes in India specifically mentions that reservation is […]

Standard & Poor’s Ratings has given a negative outlook on India’s biggest oil and gas producer, ONGC. Though Oil and Natural Gas Corp. Ltd would have qualified for a higher rating than ‘BBB-‘ based on financials alone, its close links to the Indian government creates a risk factor, S&P said. “The sovereign credit rating on […]

The Shunglu Committee, which went into the award of the coverage contract for the recently concluded Commonwealth Games has fixed the ‘fair value’ of the Rs 246 crore contract at just Rs 100 crore. It has therefore, asked the government to recover “excess amounts” paid to the company or payable to it. The UK-based firm, […]

Notwithstanding pull-back in the past two days, gold prices may fall further in India and may even go down as low as Rs 25,000 per ten grams in the short to medium horizon of 12 months as the yellow metal is losing appeal as an asset class in favour of equity, for now, according to […]

Students proposing to go abroad for higher studies becomes one of the victims of the weakening rupee as if dollar remains around Rs.60/-, the impact shall be 15% to 20%, according to the ASSOCHAM. While releasing the ASSOCHAM assessment Mr. D S Rawat, Secretary General ASSOCHAM said, Indian students who are going abroad for their […]

Crisil Research said it expected industrial growth to continue to recover “somewhat” over the next fiscal year with the help of a normal monsoon and lower inflation and interest rates. The research wing of Crisil ratings agency said it continued to expect inflation to fall further and the Reserve Bank of India (RBI) to cut […]

There seemed to be not as much shock as expected from the surprisingly low 4.8% GDP growth number recorded for the March quarter. While industry associations took the chance to remind the government of the need to ease money flow into the economy, Angel Broking even said the current year growth will be only 5.8%, […]

Apparel Exports Promotion Council (APEC) of India has urged the government to either ban the exports of cotton from India or allow Indian garment makers to import cotton at zero duty, to offset the increasing prices of raw materials avoid further job losses. Speaking on the full-year numbers for apparel exports from India, Chairman Dr […]

Close on the heels of a controversy set off after a fiesty blogger was denied an Aadhar card because she didn’t wear a ‘dupatta’ (shawl), the Planning Commission of India has said that there is no ‘dress code’ for Aadhar photographs. In fact, the Commission’s Unique Identification Authority of India (UIDAI) even went to the […]

The Indian Institutes of Technology (IITs) want to go for permanent foreign teachers, the Union Ministry of Human Resources Development said in a statement. The IITs, one of the world’s leading technology education brands, are currently facing shortage of qualified teachers. They are currently allowed to appoint temporary teachers from abroad to tide of the […]

Once the darling of the Indian stock markets, India’s biggest education tools provider Educomp Solutions Limited has been downgraded by ratings agency India Ratings & Research on account of declining revenue and profits. “Educomp has reduced the pace of its growth in the hitherto upfront capital intensive smartclass business (multimedia education to private schools) as […]

Eleven states have agreed to allow foreign direct investment (FDI) in retail in India, according to the a statement released by the central government today. The states that have agreed to allow 51% FDI in retail are Delhi, Haryana, Maharashtra, Rajasthan, Andhra Pradesh, Assam, Himachal Pradesh, Uttarakhand, Jammu & Kashmir, Assam, Manipur and Daman & […]