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The Indian economy is likely to post better than anticipated growth in the second quarter (July-September) owing to robust urban consumption and expansion in services, a Business Standard analysis of high-frequency indicators showed. While gross domestic product growth in the September quarter is expected to come below the 7.8 per cent print in the June quarter due to a favourable base fading, analysts say the print will be much closer to 7 per cent than the 6.5 per cent anticipated earlier. While the Reserve Bank of India (RBI) had estimated 6.5 per cent growth for July-September, last month Governor Shaktikanta Das said the growth figure would surprise on the upside.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
Even as the government debates whether to continue the FAME-II subsidy for electric vehicles (EVs), the share of such vehicles in overall sales is decelerating, after witnessing a heady growth in the first few years. The penetration of EVs - electric two-wheelers, passenger vehicles, three- wheelers and other segments collectively - in the first 10 months of FY24 has been pegged at 4.3 per cent, compared to 3.7 per cent in FY23, according to credit rating agency ICRA.
Railways Minister Piyush Goyal on Tuesday asserted that Indian Railways will never be privatised but said private investment should be encouraged for more efficient functioning. Replying to a discussion on Demands for Grants for Railways, Goyal said there has been no death of any passenger due to a rail accident in two years and the railways has been putting enormous focus on passenger safety. He said the country can progress towards high growth and create more employment opportunities only when the public and private sectors work together.
Due to the tyre burst, the aircraft got stranded on the taxiway, prompting authorities to shut the airport's runway till 4 pm, affecting the services of passenger flights, officials said.
It neither mentions timelines for refund or compensation, nor talks about penal provisions for airlines.
There is continued shift by passengers from rail to other modes of travel, thanks to improvement in road connectivity and the shrinking differential in high-end rail and low-end air travel.
No fare hike was announced in the Railway Budget for 2019.
Bengaluru outpaced Mumbai, Delhi, and Pune in 2023 to become India's leading city for electric car registrations. The city's tech-savvy workforce, increased acceptability, zero road tax, subsidised electricity for EV charging, and a wide charging station network contributed to this surge. Electric car registrations in Karnataka's capital surged more than threefold in 2023 to 8,690 units, overtaking the growth witnessed in the other three cities, according to data from Jato Dynamics
Her statement also mentioned that the accused had a "blood clot" in the brain and was taking medicines for the same.
The phenomenon of fog is largely Delhi-centric. 'Airlines may think that we only have conditions of extreme fog on a few days every year, and spending a pilot's time and the airline's money on training can add up to its expenses.' 'So, they may prefer holding it for a few days.'
Automobile retail sales in India rose to a record high in November, aided by the best ever monthly performance across passenger vehicle and two-wheeler segments, dealers' body FADA said on Wednesday. The overall retail sales stood at 28,54,242 units last month, 18 per cent higher over 24,09,535 units in November 2022. Passenger vehicle (PV) retail sales rose to 3,60,431 units as compared to 3,07,550 units in the year-ago period, registering a growth of 17 per cent.
The victim's son said he visited the police station in suburban Mumbai that is handling the case multiple times and met the investigating officer, but did not get any cooperation.
Airlines have opposed the rules that make it compulsory for them to pay compensation to passengers in case a flight is delayed by more than four hours
The Mumbai police have arrested a male passenger after a crew member of a Delhi-bound flight from Mumbai heard him talking about 'hijacking' on phone, an official said on Friday.
'The Railways decided to go for kavach three years back, but the progress has been very slow.'
Passengers and the general public can stay at the pod rooms by paying Rs 999 for 12 hours and Rs 1,999 for 24 hours.
The business will also see a change of guard. Shailesh Chandra, president of EV and corporate strategy, will replace Mayank Pareek as president of PV business, including EV, with effect from April 1. Pareek will be superannuating from the company after a six-year stint at the end of February 2021. Chandra and Pareek will work on transition over the next few weeks.
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
After facing significant flight disruptions recently, Vistara CEO Vinod Kannan on Thursday told the airline staff that the "worst is behind us" and operations have already stabilised. Pilot woes have forced the Tata Group airline to temporarily cut down capacity by 10 per cent or 25-30 flights daily. While acknowledging that things should have been planned better, Kannan said it has been a "learning experience".
American tech billionaire Elon Musk on Saturday said his proposed visit to India has been postponed due to "very heavy Tesla obligations". The electric carmaker Tesla CEO -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Narendra Modi -- wrote on X that he is looking forward to coming to India later this year.
Tourist centres have been closed in many districts, including Kottayam and Thiruvananthapuram, and a night travel ban has been imposed in the hilly areas of Idukki district.
The government has increased the budgetary allocation.
The passengers of the flight AF025 alleged that while they had to remain at the airport, people with American passports were given transit visas, provided accommodation and taken care of.
An IL-76 transport aircraft of the Indian Air Force was pressed into service to ferry the stranded passengers mostly hailing from Leh and Kargil districts of Jammu and Kashmir.
A 30-year-old Bangladeshi national was arrested in Mumbai for allegedly sexually harassing a female flight attendant on board a Muscat-Dhaka flight travelling via Mumbai, a police official said on Friday.
'With butterflies in our stomachs, but confident of our mission, we took off for Jaffna on the morning of 24 July 1987.' IAF Veteran Air Commodore Nitin Sathe recalls a conversation with Air Vice Marshal Harpal Singh Ahluwalia (retd), then a wing commander and mission leader for the clandestine operation.
This is the fourth incident since the commencement of the conflict in Manipur wherein soldiers while on leave, on duty or their relatives have been targeted for nefarious interests by inimical elements.
At least 36 people were killed and 19 injured when a bus carrying passengers skidded off the road and rolled down into a 300-foot gorge in Jammu and Kashmir's Doda district on Wednesday, officials said.
Once deployed and operational, it will be used to support the satellite imagery requirements of various agencies within the government of Singapore.
Leading European carrier Lufthansa on Tuesday announced an increase in its weekly services from India and introduction of new cuisine on long haul flights to cater to the growing number of Indian travellers.
A 61-year-old Indian national has been arrested in the United States on charges of sexually assaulting a fellow woman passenger aboard a domestic flight.
Alto, the Maruti brand synonymous with small cars, introduced the new generation K10 on Thursday, aiming to consolidate its position further amid shrinking demand for hatchbacks. With prices starting at Rs 399,000 and going up to Rs 533,500 (for manual transmission), the new model claims fuel efficiency of 24.90 km per litre. The Japanese car maker, which has been selling 100 Altos every hour for the last 22 years, had discontinued the model in February 2020.
As of now, the Indian Railways has cancelled 245 trains in order to restrict unnecessary travel due to the coronavirus outbreak.
The passenger Gurpreet Singh was handed over to the local police who are probing the incident.
The number of Indian passengers has jumped more than 20 per cent in the past year
Automobile retail sales in India rose by 9 per cent in August aided by sales growth in all segments, including passenger vehicles and two wheelers, dealers' body FADA said on Tuesday. The total retail sales across segments rose to 18,18,647 units last month, up 9 per cent, from 16,74,162 units in August 2022. Passenger vehicle registrations increased by 7 per cent to 315,153 units last month from 295,842 units in August 2022.
Indian civil aviation norms don't apply to foreign aviation companies, experts said.
The diplomatic rift between India and Maldives, coupled with the suspension of flight bookings on one of India's major travel portals, has sent jitters down the spine of tour operators in the island nation. The Maldivian Association of Travel Agents and Tour Operators (MATATO), a forum for travel agents, has stressed that the Indian market is important to the success of tourism in Maldives.
