Besides, it owes an interest of Rs 423.43 crore (Rs 4.23 billion) to IOC, Rs 92.73 crore (Rs 927.3 million) to BPCL and Rs 66.17 crore (Rs 661.7 million) to HPCL.
AI rejigged about 30 flights on its domestic and international sectors.
A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
The proposed India-United States nuclear agreement provides undefined India-specific safeguards and fails to explicitly state whether the US nuclear trade will terminate if India conducts a nuclear test.
India on Monday signed a path-breaking broad-based agreement in the civil nuclear field with Russia, which will ensure transfer of technology and uninterrupted uranium fuel supplies to its nuclear reactors, and inked three pacts in the defence sector. The agreements were signed after talks between Prime Minister Manmohan Singh and Russian President Dmitry Medvedev at the Kremlin in Moscow, during which they discussed a whole range of issues.
India has already pipped Japan as the world's third-largest oil consumer.
'What is Balaji without Ekta (Kapoor), what is Dharma without Karan (Johar?)'
Fluctuating between hope of fuel supplies and despair of prolonged grid failures, it was mostly a gloomy year for the power sector in 2012, but it is looking forward to brighter days ahead under a new and young minister.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
The agreement will form the basis of wide-ranging bilateral cooperation from basic and applied research to full civil nuclear cooperation, including reactors, nuclear fuel supply, nuclear safety, radiation and environment protection and nuclear fuel cycle management, officials said. The nuclear agreement and the social security pacts were signed after the Summit meeting between Prime Minister Manmohan Singh and French President Nicholas Sarkozy at the Elysee Palace in Paris.
However, truckers have spared other vegetables, fruits, fuel and milk from the strike.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
Pranab Mukherjee said India will undertake the civil nuclear cooperation with the US and any other country on the basis of bilateral agreements only and that the government has "no doubt" that Washington will fulfil its "commitments and obligations" specified in the agreement.
India on Friday made it clear that the civilian nuclear cooperation with the United States will be guided only by the 123 agreement which, when operational, will become a 'legal' document in accordance with well-recognised principles of international law and Law of Treaties.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
India and Russia underlined their determination to deepen their "time tested" relationship on Monday, as they inked a path-breaking civil nuclear agreement that will ensure transfer of technology and uninterrupted uranium fuel supplies to its nuclear reactors and signed three pacts in the defence sector.
Agreements may provide rights but this does not mean asserting them or implementing them will be easy. India may consider itself to be on firm legal ground in invoking Paragraph 29, for example, in order to deal with the consequences of a fuel supply disruption, but the political opposition it will encounter internationally could be formidable. Some of this political opposition could even be couched in legal terms.
'If you take any ministry of defence project, Nibe is up there, getting orders.'
India may miss the April 1, 2005 target of conforming to Euro-III emission norms in metro cities and Euro-II norms in the rest of the country due to inability of refiners to supply the specified category of petrol and diesel.
Saturday's Quad meeting in Delaware is taking place against the backdrop of China's assertive behaviour in the South China Sea, its sabre-rattling in the Taiwan Strait and increasing footprints in the Pacific and Indian Ocean, asserts Rup Narayan Das.
The Appellate Authority has stayed Rs 1800 crore penalty on Coal India.
'India is the sixth-largest market for the Kia Corporation, and contributes 8 to 9 per cent to our global sales.' 'We are eyeing 10 per cent market share over the next few years depending on customer demand and new product innovations.'
India and the US on Wednesday reported "good progress" on reaching a common position on the proposed bilateral nuclear agreement as they wound up first round of official-level talks in New Delhi.
"We have been very clear with the Indians, should India test, as it has agreed not to do, or should India in any way violate the IAEA safeguards agreements to which it would be adhering, the deal, from our point of view, would, at that point, be off," Burns pointed out.
"The 'red bag' belonged to one of the hijackers, it contained explosives, and possibly, real passports, too.
To meet fuel supply commitments to the power sector, the government today said CIL might divert a portion of the coal meant for e-auction to power plants.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
India's tactical and operational response demonstrated its ability to prosecute tri-service operations, even without a formal tri-service doctrine or the higher command structure needed to coordinate it, points out Ajai Shukla.
India is served by BS-IV fuel in cities such as Mumbai, Chennai, Delhi and BS-III fuel in the rest of the country.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
The Russian government-owned company will be setting up eight to ten plants at Kudankulam in Tamil Nadu and Haripur in West Bengal over the next two decades under the Indo-Russian civil nuclear agreement, and the proposed fabrication plant will be supplying fuel to these plants, TVEL executive director for communications and public affairs Ivan Dybov said in Mumbai.
Indian growth in the rest of this fiscal year and next will be propelled by robust domestic consumption as consumer confidence improves, and by investment, including large increases in government capital expenditure, according to the Asian Development Outlook September 2023. "As slowing exports could foment headwinds for the economy, and erratic rainfall patterns are likely to undermine agricultural output, the growth forecast for FY2023 is revised down marginally to 6.3 per cent," ADB said.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
An article on 'State of the Economy' in the monthly Bulletin also said the improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetable prices halted the overall disinflation that had been underway, it said.
Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank's target of 4 per cent, according to official data released on Friday. The Consumer Price Index (CPI) based retail inflation was 5.09 per cent in February and 5.66 per cent in March 2023. Previously, CPI-based inflation was the lowest at 4.87 per cent in October 2023.
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