The government's ambitious plan to make Steel Authority of India Limited a mega PSU may hit a roadblock with several smaller PSUs under the Steel Ministry expressing unwillingness to merge with the steel behemoth.
Sai said the revenue on account of steel exports stood at Rs 29,994 crore (Rs 299.94 billion) in 2013-14.
The California walnuts shipped from the US to India have seen a sharp uptick with imports more than doubling from September to November against the same period last year. This comes after New Delhi removed its retaliatory customs tariffs on the key dry fruit. Two days ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit on September 9-10, India dropped additional customs duties on about half a dozen US goods that were imposed in 2019 in response to America raising tariffs on certain steel and aluminum products coming from India.
Steel Ministry is unwilling to sell shares at lower than the present book value of Rs 22.50 a share. Merchant bankers UBS Securities and Deutsche Equities (India) have proposed Rs 15-17 as the price band.
The CBI on Friday told a special court that former coal secretary H C Gupta had allegedly concealed facts from then prime minister Manmohan Singh.
The department for promotion of industry and internal trade (DPIIT) has suggested to the home ministry to allow limited activity in certain sectors such as heavy electricals and telecom equipment with reasonable safeguards. In a letter to Home Secretary Ajay Kumar Bhalla, the department said that these activities are essential to improve the economic situation and provide liquidity in the hands of the people.
'It is not a question of stature. I had expected Railways,' said the Chemicals and Fertilizer Minister.
Besides the jail term, the special court also imposed a fine of Rs 25 lakh on Koda and Rs one lakh on Gupta.
Koda, Basu and two accused public servants conspired to favour VISUL in the coal block allocation, the agency alleged.
"The new food supply pipeline has also made it easier to supply better food in larger quantities to them, which is a good thing. Otherwise the situation remains the same," said Negi, who spoke to his brother.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
A central team on Monday began a probe into allegations that a radioactive contaminated United States ship has been anchored at the Alang coast in Gujarat, even as non-governmental organisations demanded a probe by the Central Bureau of Investigation into the matter.The three-member team comprising an official each from the Central Pollution Control Board, the Steel Ministry and the Atomic Energy Regulatory Board will submit its report by the end of the week.
JSPL, Tata Power, Monnet Power, Jindal Photo in the dock.
Shares in Jindal Steel and Power Ltd were heading towards their biggest daily loss in almost two years on Monday.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
Former Jharkhand chief minister Madhu Koda, ex-Coal Secretary H C Gupta, former Jharkhand chief secretary Ashok Kumar Basu and six others were on Tuesday ordered to be put on trial by a special court on charges of corruption, criminal conspiracy and cheating in connection with a coal block allocation scam case.
India's economic growth will be above 6 per cent in the current fiscal as the country has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Monday. Goyal further said that a global slowdown reducing India's export growth, geopolitics fueling oil and food prices, and erratic weather are some of the continuing risks that the country faces. "India has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
From the Sensex firms, Tech Mahindra, NTPC, Tata Steel, Maruti, Infosys, Power Grid, Larsen & Toubro, Axis Bank, Titan, Reliance Industries, Wipro and Mahindra & Mahindra were the biggest gainers. Sun Pharma, UltraTech Cement, Tata Motors, Kotak Mahindra Bank, Bajaj Finance, State Bank of India and Nestle were among the laggards.
From the Sensex pack, HDFC, HDFC Bank, Mahindra & Mahindra, UltraTech Cement, Tata Steel, Bajaj Finance, State Bank of India, Reliance Industries, Bajaj Finserv and ICICI Bank were the major gainers. Power Grid, Maruti, Tech Mahindra, IndusInd Bank, HCL Technologies and Axis Bank were among the laggards.
As many as 12,394 complaints of alleged corruption were received against railway employees.
The top five decision makers in the oil ministry collectively have around 20 months of experience in the sector even as India, the third largest consumer of oil in Asia, struggles to keep pace with oil prices, which have doubled in the last one year.
'These are people whom very few give importance and they were doing a mammoth job for the nation.'
'I decided to send a bat and a ball which was smaller in size so that it shouldn't get stuck in the pipe. And with that, they had a little good time.'
There was a plan to increase the Railways' revenue by augmenting carrying capacity. This target has, however, become the source of a bitter battle between two ministries - the railways and steel - and provoked serious arguments over the "Make in India" programme.
Following is a look at some new and the more unusual events in the schedule of the 19th edition of the Asian Games:
Chouhan had earlier announced constitution of 'happiness ministry' on the lines of Bhutan, the only country to have the gross national happiness index.
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
Balasore district hospital looked like a war zone with the injured lying on stretchers in the corridor and rooms bursting at its seams with extra beds propped up.
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
The petroleum ministry has recommended a hike in the foreign direct investment cap in government-owned refineries to 49 per cent from the current 26 per cent.
The officers did not arrest Neeraj Singhal despite CBI Director Ranjit Sinha's orders.
Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects. The money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors, he added. "We will be approaching the capital market to raise funds for the four road projects... there will be an assured return of 7-8 per cent," Gadkari said while addressing a Ficci event.
The government is targeting export of goods and services worth $2 trillion by 2030.
Both were rescued from the Shalimar-Chennai Central Coromandel Express that derailed near Bahanaga Bazar Station on June 2 that had claimed 275 lives and left around 1,200 injured.
It was only a matter of hours before I would be declared persona non grata; all my work would turn to ashes, and I would be revealed as a typical untrustworthy Indian. I steeled myself for the axe to fall.
'A large portion of youngsters who aspire to join the civil services are not motivated by the spirit of public service and idealism of which the civil services offer in abundance.' 'When they join the mandarin club they look for the loaves and fishes of office, rather than make a difference and wipe what Mahatma Gandhi called 'every tear from every Indian',' points out Rup Narayan Das.
The redevelopment work of the Central Vista Avenue, stretching from Rashtrapati Bhavan to India Gate in New Delhi, will be completed within two-and-a-half months, Union Minister Hardeep Singh Puri said on Thursday.
The output of eight core sectors jumped by 56.1 per cent in April mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Monday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 37.9 per cent in April 2020 due to lockdown restrictions imposed to control the spread of coronavirus infection. In March this year, the eight sectors had recorded a growth rate of 11.4 per cent.
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