The increased tax target comes at a time when consumer spending and sales growth are slowing down and most companies are not investing in new capacities.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
A loss of revenue from liquor sales will have to be compensated through increased landing and parking charges on airlines, which, in turn, will pass on the cost to flyers.
Bankers said they are looking outside the bankruptcy courts and will be able to resolve a few debts in the power sector before January-end.
South America-based Synergy Group, one of the suitors, has said slots at London's Heathrow airport are critical to the airline's operations and will decide on participating in the resolution only if it gets clarity. It also wants to form a new company with its assets, employees, and operating permit but minus all liabilities.
With over 700,000 annual passengers and 21 per cent market share Air India is the largest carrier on India-United Kingdom routes.
'While the march of globalisation is perhaps inevitable, what is certain is that the world is no longer flat as, the emerging pattern of trade is more regional. 'This new trend of 'slowbalisation' raises some questions that challenge conventional wisdom on how businesses should distribute their capacities,' Birla said.
DGCA has also permitted the airline to deploy newly-inducted planes for capacity expansion.
Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on Friday after the killing of top Iranian commander Qassem Soleimani in an airstrike by the US in Baghdad.
Improvement in load factors, coupled with an increase in seat capacity after Jet's slots were allotted to low-cost airlines, has resulted in an increase in daily passenger traffic.
Airports levy charges such as FTC, infrastructure charge, and into-plane charges on sale of jet fuel. The levy is passed through to airlines, pushing up costs.
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
The airline is strengthening its flight operations department to make this happen.
Brent crude oil price surged 4 per cent on Friday, following tension between Iran and the US. Airlines, however, have been unable to pass on the price increase to customers due to the soft demand.
Railways to hive off all production units and workshops into new govt-owned company; may invite bids from private players to run passenger trains in next 15 days, with ownership vesting with the government.
The new board will have a leaner structure on functional lines headed by the chairman and four members - covering infrastructure, operations and business development, rolling stock, and finance.
Foreign tourists are postponing their India holiday and there have been some cancellations as well, with trips to the North-East seeing the most adverse impact.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
Air India is seeking government approval to raise a Rs 2,000 crore loan and refinance $819 million aircraft debt, which would help tide over the financial crisis.
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