Nazir Karigar, an Ottawa-based Indo-Canadian entrepreneur, claimed to have bribed India's Minister of Heavy Industries in 2005, to get a $100 million contract for his company CryptoMetric, says a report in The Globe and the Mail.
The Chinese dependence is far from over, industry players are also citing a shortage of electronic toys in the country.
As per the well-established system, all the 249 public sector units are to sign a memorandum of understanding with their administrative ministries, setting the performance targets which are reviewed at the end of the fiscal year.
The heavy industries ministry has virtually consented to finance ministry's suggestion for part divestment of government equity in blue-chip PSU Bharat Heavy Electricals Ltd and auto joint venture Maruti Udyog in the current financial year.
Equity benchmarks ended over 1 per cent higher on Monday amid positive trends in global markets and buying in Reliance Industries and IT counters. The 30-share BSE Sensex zoomed 846.94 points or 1.41 per cent to settle at 60,747.31. During the day, it jumped 989.04 points or 1.65 per cent to 60,889.41.
'The upper caste elite's belief that they are casteless is a belief that is available only to the upper castes. Because all the lower castes are reminded by society every day what their caste is.'
Among Sensex shares, HDFC Bank fell the most by 2.58 per cent, followed by SBI (2.12 per cent), HDFC (2.09 per cent), and IndusInd Bank (2.02 per cent). Axis Bank, Bajaj Finserv, M&M, L&T, Reliance, Infosys and TCS were among the major losers. In contrast, Tata Motors, Maruti, NTPC, Sun Pharma, Power Grid and Titan were among the gainers.
If 4,000 workers could work round the clock for the construction of the new Parliament building, then there is no reason why all infrastructure projects too cannot follow that model, asserts Dr Sudhir Bisht.
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
Tourism is badly affected. Entire apple orchards have been washed away. 2 million people are threatened with loss of livelihood.
The five-member Group of Ministers (GoM) also include Agriculture Minister Sharad Paward, Heavy Industries Minister Vilasrao Deshmukh, Petroleum Minister Murli Deora and Chemical and Fertiliser Minister M K Azhagiri, official sources said.
The mobile gaming has quickly taken over the market share from PCs, as users now have shifted to smartphones and tablets to discover new and engaging content.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
Girish Chandra Chaturvedi (57), a 1977 batch Indian Administrative officer from the UP cadre, took charge as the new petroleum secretary on May 3.
Union Minister for Heavy Industries Vilasrao Deshmukh on Saturday said he saw nothing wrong in Maharashtra Congress ministers donating money for party chief Sonia Gandhi's public rally near Nagpur.
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
If the country wants to have eco-friendly vehicle, definitely some concessions have to be offered.
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively
The government will offload a portion of its equity in Bharat Heavy Electricals Ltd and Maruti Udyog in the market by the end of this fiscal to mop up over Rs 2000 crore (Rs 20 billion).
Union Minister Vilasrao Deshmukh on Thursday dismissed the Opposition's demand for his resignation in the wake of the Supreme Court rebuking him for abusing his position as Maharashtra chief minister. "These are political things. I cannot expect anything positive from my opponents", Deshmukh said when asked about the demand from the Bharatiya Janata Party and the Shiv Sena that he quit in the wake of the court's observations against him.
The government has approved a Rs 517 crore (Rs 5.17 billion) package to clear the pending salaries and statutory dues of 4,500 employees of 24 ailing PSUs, Heavy Industries Minister Santosh Mohan Deb said on Thursday.
Union minister and Congress leader Vilasrao Deshmukh and two Nationalist Congress Party candidates were elected on Monday to the Rajya Sabha from Maharashtra. NCP leaders Govindrao Adik and Ranjitsinh Mohite Patil were elected to the Upper House of parliament against the seats vacated by Civil Aviation Minister Praful Patel and Supriya Sule after their election to Lok Sabha.
Hard hit by 9/11, the hotel industry in India has further registered a decline in revenue earnings by 15 per cent in view of the threat of US-Iraq war.
Former India skipper and chief selector Dilip Vengsarkar and Union Minister for Heavy Industries Vilasrao Deshmukh were on Tuesday elected unopposed as vice-presidents of Mumbai Cricket Association (MCA). After the deadline for withdrawal of nominations ended on Tuesday evening, both Vengsarkar and former Maharashtra Chief Minister Deshmukh were left without any opponent for the July 10 elections.
India saw a huge surge in ransomware and IoT cyber attacks in the first half of 2023, as criminals shifted to stealthier means of malicious activities, according to a report by SonicWall. While major economies like the US and the UK witnessed a decline in ransomware attacks, India (up 133 per cent) and Germany (52 per cent) are among the countries that saw a huge surge in such attacks, the 2023 SonicWall Mid-Year Cyber Threat Report for the January-June period stated. At the global level, a variety of other attacks have trended up, including cryptojacking (399 per cent), IoT malware (37 per cent) and encrypted threats (22 per cent), the report said.
Union Minister for Heavy Industries and Public Enterprises Praful Patel on Friday said his ministry was preparing a list for outright sale of sick and closed PSUs that have no potential for turnaround.
Union Heavy Industries Minister Vilasrao Deshmukh on Saturday asked people not to attach much importance to what the Thackerays say and accused the family members of fighting among themselves to strengthen their political base in Maharashtra. "Don't attach much importance to what they say. It is their family problem, to strengthen their (respective) political base," the former Maharashtra chief minister said.
The government on Tuesday provided enhanced financial autonomy to two public sector units -- Bridge and Roof Company and Bharat Pumps and Compressors -- by granting them the 'mini-ratna' status.
This is one of the largest monthly increases in the labour force, observes Mahesh Vyas.
India's growth outlook has weakened sharply this year, with a crunch that started with the non-banking finance institutions spreading to retail businesses, car-makers, home sales and heavy industries.
Since Hyundai has developed its 'small cars' based on the current definition of 4,000 mm, it could lose out on excise benefit if the length were to be altered to 3,800 mm as per the auto policy.
The Board for Industrial and Financial Reconstruction has constituted an assets sale committee for selling off Cement Corporation of India as a whole or in parts after declaring it sick, Rajya Sabha was informed on Monday.
Congress sources in New Delhi say the race is narrowing down between Deshmukh and Chavan with latter having an edge.
IndusInd Bank was the biggest loser in the Sensex pack, shedding nearly 2 per cent, followed by Bharti Airtel, Reliance Industries, HDFC twins, SBI, HUL, Tata Motors, Nestle India and Axis Bank. On the other hand, Asian Paints, Tata Steel, Titan and L&T were among the gainers, rising up to 3.03 per cent.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
The Supreme Court on Friday directed the Delhi government to close down all industrial units set up in residential and non-conforming areas after August 1, 1999.
