After securing Congress support for a rise in the foreign investment cap in the insurance Bill, this is another key reform Bill where the Centre has managed a broad consensus.
Four leading telecom multi-national companies - AT&T, BT, MCI Worldcom and Equant - may face penal action in India for providing long distance services without having a licence that may have caused revenue loss to the government.
While questions may arise over the sheer dominance of a single corporate group in running airports in the country, it pretty much fits into the government's plan to get out of this space and earn revenue without working for it.
Hospital chains like Apollo, Medanta, Max and Ganga Ram attract patients from Pakistan.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
While we navigate the challenges posed by the current industry environment, our focus and attention remains on safety and operational reliability, said chief executive Vinay Dube.
The government is banking on the second round of spectrum auction and customer-centric moves such as free national roaming to rebuild the telecom sector, impacted by controversies and court judgements that have shaken investor confidence.
The losses ranged between Rs 33,204 and Rs 10,90,480.
The finance ministry has offered less than half of the Rs 31,700 crore (Rs 317 billion) sought by the oil ministry to make up for revenue losses incurred by the state-owned retailers on sale of LPG and kerosene. Petroleum Minister Murli Deora on Thursday met Finance Minister Pranab Mukherjee to seek compensation for the public sector oil firms for their losses but the meeting remained inconclusive.
The central government will lose about Rs 24,000 crore (Rs 240 billion) of revenue during the current fiscal on account of reduction in customs and excise duties on petroleum goods.
The bonds, which will come over and above Rs 61,800 crore (Rs 618 billion) already issued to the three companies, would help them bridge the revenue loss they incurred on sale of petrol, diesel, liquid petroleum gas and kerosene in 2008-09, a petroleum ministry official said.
...current industry models will soon fade out, notes Ajit Balakrishnan.
Of the 62 Airbus-320 family of aircraft, AI has started converting 14 to single-class configuration and to decrease the number of business-class seats in 43 others from 20 seats per aircraft to 12.
Eminent economist Prabhat Patnaik has contested government's argument that value added tax will be revenue-neutral in the long run, saying the very nature of the new tax system is such that the states are sure to lose revenue.
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.
Stung by the Comptroller and Auditors General report on notional revenue loss in coal blocs allocation, Congress on Thursday asked the national auditor to respond to the debate triggered by its findings about its methodology and working style.
In an attempt to plug revenue loss of Air India, Civil Aviation Minister Ajit Singh has imposed a blanket ban on excess baggage checked in by ministers and civil servants, which is generally carried free by the airlines
Around 300 people, mostly tourists, are stuck in camps at Chandertal, located at an altitude of 14,100 feet, following rain and snowfall in the region.
Despite the best ever quarterly net profit of Rs 3,091 crore during April-June of financial year 2023-24 (Q1FY24), challenges are mounting for InterGlobe Aviation-run IndiGo in the near term, said analysts. Given this, most brokerages have retained their ratings from 'buy to underperform', as well as their target price for the stock. For instance, Motilal Oswal Financial Services has retained its 'neutral' rating on the scrip as it believes the low-cost airline is facing teething issues at present.
While it is very difficult to ascertain the total number of such screens across the country, a study, commissioned by a film company, projects an annual revenue loss of Rs 436 crore (Rs 4.36 billion) to the film industry from just 500 such screens, which charge only Rs 15 a ticket.
State-owned Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum are collectively losing Rs 2.65 billion (Rs 265 crore) per day on selling fuel below cost and may end the fiscal with a Rs 874.4 billion (Rs 87,440 crore) revenue loss.
Goldman Sachs on Tuesday reported its first quarterly loss since it became a public company in 1999, after a severe decline in asset values, including real estate, hit the bank's revenues.
The Delhi Metro may end up in a loss of Rs 700 crore (Rs 7 billion) in the next fiscal due to a high depreciation cost although it expects to generate a revenue of Rs 1,231 crore (Rs 12.31 billion).The Metro expects to cough up Rs 1,026 crore (Rs 10.26 billion) through operations during 2010-11 financial year, besides another Rs 205 crore (Rs 2.05 billion) through property development.
Two sub-committees, set up by the government to resolve the issues of compensation to states for revenue loss on account of a reduction in central sales tax and the final design of GST, are also likely to miss the December 31 deadline.
The Maharashtra government on Wednesday announced a ban on the production, sale, distribution and storage of gutkha and paan masala in the state.
A row of buildings in Kullu district collapsed Thursday and hundreds of travellers were stranded in relief camps after landslides blocked the road to Mandi in rain-battered Himachal Pradesh.
It would be ludicrous to expect Modi, Erdogan or Biden to pay to keep blue ticks on their respective official accounts. It would be equally ludicrous to expect the Delhi Metro or the Income Tax Department to pay, points out Devangshu Datta.
India may get its first unicorn this year as Zepto, which promises 10-minute deliveries, is in talks to get fresh funding that would take the start-up's valuation past $1 billion. The quick-delivery firm is looking to raise $150 million in a series E round, which will take its valuation to $1.3 billion. The round will be led by StepStone Group, a limited partner (LP) of Zepto's existing investor, Nexus Venture Partners, said media reports.
Full service carrier Vistara will continue to expand and expects to have a total of 70 planes by mid-2024, its chief Vinod Kannan said on Tuesday. The airline, a joint venture between Tata Sons and Singapore Airlines, reported an operating profit for the first time since inception in the three months ended December 2022. By the middle of next year, Kannan said it will have a total of 70 aircraft, including 7 Boeing 787s.
Relief seen from easing global crude oil prices, phased diesel decontrol and capping of LPG cylinders.
Ministry caps number of flights out of Delhi, Mumbai.
City's alleged breaches stretch from the 2009-10 season to the 2017-18 campaign, the league said on Monday.
The Cabinet on Wednesday approved amendments to the GST bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime.
Finance Minister Arun Jaitley on Tuesday assured Rajya Sabha that the Centre will fulfill all commitments made towards Andhra Pradesh in 'letter and spirit', following protests by some Congress members.
The government on Tuesday ruled out any further increase in diesel and cooking fuel prices even though the current retail rates are lower than their cost of production.
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
It argued that the duty reduction will not lead to revenue loss for the government.
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