The government has been waiting for the expansion by the private sector, Finance Minister Nirmala Sitharaman said while reminding India Inc of various measures including corporate tax rate cut, policy consistency, ease of doing business, among others to facilitate investment.
The two companies have approached banks to raise up to Rs 8,000 crore as debt to fund their expansion plans.
Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
The Union health ministry is releasing funds for states and Union territories under the National Health Mission for implementation of phase 1 up to June 2020.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Indian Oil Corporation (IOC) and two other public sector oil firms will install 22,000 electric vehicle (EV) charging stations over the next 3-5 years to support the nation's target to reduce its carbon intensity and reach net zero emissions by 2070. IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, chairman Shrikant Madhav Vaidya said. Bharat Petroleum Corporation Ltd (BPCL) said it will set up 7,000 stations over the next five years while Hindustan Petroleum Corporation Ltd (HPCL) has plans for 5,000 stations.
The return of private investment now struggles with lack of funds and election-driven uncertainty.
A large team led by Kumar Mangalam Birla has taken charge of the integration process.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
The 119 nearly identical construction sites, that could potentially house powerful weapons capable of reaching the American mainland, are similar to those seen at existing launch facilities for China's arsenal of nuclear-tipped ballistic missiles, the report said.
The new Parliament building will have a triangular shape and is expected to be completed by the 75th anniversary of India's independence in 2022. The government plans to hold the monsoon session of Parliament in 2022 in the new building.
Slots, parking bays unavailable at major airports
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. The sale of Numaligarh Refinery Ltd clears the way for privatisation of India's second-largest fuel retailer. In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
'We are working to put up an actual plan in play to deal with the banking situation, which is top of our agenda,' finance minister tells Harvard University students.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
The Covishield maker's forte throughout the past half a century has been a combination of affordable vaccines and high volumes. Its tetanus, diphtheria and measles vaccines are known throughout the world, reports Sohini Das.
Railway Budget has not discriminated against any state.
Besides facilitating travel by easing the traffic bottlenecks, the approved lines would help the upcoming industries in the region.
Known for stable returns, near debt-free status and dividend track record, these 10 PSU stocks are worth buying now.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
Domestic air traffic clocked slowest growth in 4 years on high fares and flight cancellations.
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'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
Essar has announced a $6bn expansion plan to more than triple capacity at its refinery, while Reliance, at its site a few kilometres away, is working on plans to almost double capacity.
The focus of the company would be to develop its capability across segments of injectables, vaccines, biosimilars, inhalation and APIs to drive growth.
Elections to the 40-member Goa Assembly are due in two months. Recent visits by Banerjee, Kejriwal and Prime Minister Narendra Modi heated up things in the otherwise "susegad" atmosphere in the small state.
India's Gross Domestic Product (GDP) is expected to expand by 9.2 per cent in the current financial year, according to the Economic Survey 2021-22 tabled in the parliament on Monday. "Advance estimates suggest that the Indian economy is expected to witness real GDP expansion of 9.2 per cent in 2021-22 after contracting in 2020-21. "This implies that overall economic activity has recovered past the pre-pandemic levels," Economic Survey noted. Almost all indicators show that the economic impact of the "second wave" in Q1 was much smaller than that experienced during the full lockdown phase in 2020-21 even though the health impact was more severe, it said.
People in the know said the move would impact around 110 engines, virtually putting a spanner on the expansion plans of IndiGo - counted among the fastest growing airlines in the world.
'There are three pillars of concern: The expansion of Hindu majoritarianism, the concentration of executive power and decay of independent institutions, and curbs on free expression and dissent.'
'Everyone says never waste a crisis.' 'When we went into Covid and we were in total lockdown, we were at work.' 'The planes were not flying and we wondered what to do.' 'We looked at each of our performance metrics -- what are customers complaining about, how do employees feel, how do investors feel?'
The company is planning to bring IT operations into India which will include application development and desktop managed services.
IMAGES from Day 2 of the rescheduled 5th Test between England and India at Edgbaston in Birmingham on Saturday.
Urging the government to initiate talks with Abu Dhabi on the bilateral air services agreement, Jet has written to the Civil Aviation Ministry seeking its nod for expanding its services through Abu Dhabi and expansion of bilateral aviation ties with that country.
'They have to be seen as being responsive to the employment woes and economic stagnation afflicting many young people.'
Expansion of distribution network, venturing into new markets, supplementing production capacity, and ramping up workforce are all on the cards. Instead of trying to fight with brands having massive war chests, it will pass on the benefits to consumers by offering them phones at lower prices.
Delhi airport, the country's busiest, runs out of slots due to runway capacity constraints.
'It is going to be extremely rapid and anybody who is not there, be it investor, manufacturer, supplier, will miss out.'
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
India Inc expects the RBI to cut interest rates by early next year.
