Low cost carrier SpiceJet on Monday announced the appointment of Sanjay Aggarwal as its chief executive officer. Prior to this, Aggarwal was working with private air travel services provider Flight Options as chief operating officer and chief strategy officer, a company statement said.
Union Agriculture Minister Arjun Munda on Tuesday said a law guaranteeing minimum support price (MSP) on crops cannot be brought in a hurry without consulting all stakeholders and urged the protesting farmer groups to have a structured discussion with the government on the issue.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
The farmers' agitation against new agri laws will lead to economic loss of over Rs 70,000 crore in the December quarter owing to supply chain disruptions, particularly in Punjab, Haryana and border areas of Delhi, the PHD Chamber of Commerce and Industry said on Thursday. The chamber's president Sanjay Aggarwal said "the 36 days farm agitation so far will have more than Rs 70,000 crore economic loss in the Q3 FY 2020-21 due to...disruption in supply chains and day-to-day economic activities particularly in the progressive states of Punjab and Haryana and border areas of national capital Delhi."
Foreign direct investments into the country is on the rise, jumping to $12.1 billion in May this year, Commerce and Industry Minister Piyush Goyal said on Monday. He also said the government is working on a mission mode to achieve exports target of $400 billion in 2021-22. "India has received the highest ever FDI inflow in 2020-21. "It surged by 10 per cent to $81.72 billion and FDI during May 2021 is $12.1 billion, i.e. 203 per cent higher than May 2020," he said while addressing a meeting of different industry associations on promoting exports.
The output of eight core sectors grew by 16.8 per cent in May, mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Wednesday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 21.4 per cent in May 2020 due to the lockdown restrictions imposed to control the spread of the COVID-19 infections. In March this year, these key sectors had recorded a growth of 11.4 per cent, and 60.9 per cent in April.
The Union Cabinet has cleared a proposal to provide Rs 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday. The proposed bad bank or NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts. The government guarantee would be invoked if there is loss against the threshold value.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday. Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits. PHD Chamber of Commerce and Industry president Sanjay Aggarwal said that the move is a significant step to enhance the digitisation process of the country.
Upon receiving suspension order from the Directorate General of Civil Aviation on Saturday, Aggarwal wrote to employees seeking their backing.
The Directorate General of Civil Aviation has asked senior officials of the airlines, including CEO Sanjay Aggarwal, to appear before it tomorrow to explain the cancellations.
Say chief executive's claim is grossly incorrect and as many as 90% of the employees have outrightly rejected the offer.
The airline management, in an internal mail, said that due to operational reasons, all flights across its network would be cancelled until next weekend
Kingfisher Chief Executive Sanjay Aggarwal met officials at the ministry of civil aviation to discuss the revival plan, which was earlier rejected by the regulator.
The parent company, UB Group, is willing to pump in money.
DGCA chief Arun Mishra said he would talk to the cash-strapped airline's stakeholders to ascertain whether it would be able to operate in a sustainable manner.
The airlines claimed that most of the employees have agreed to resume work from Friday.
Maintaining that the management was working to get fresh investment 'in the next few months', the Kingfisher CEO said no potential investor would put money in an airline that was not operational and neither would passengers return till operations commenced.
Losses and lack of bank funds no reason to shut company, says minister
The meeting, held in Mumbai at the State Bank of India headquarters, was attended by most of the lenders and the airlines' chief executive officer Sanjay Aggarwal and chief Financial officer H G Raghunath.
The license of Kingfisher was issued on August 26, 2003, and is valid till December 31 of this year.
The message was given to the airline's CEO, Sanjay Aggarwal, at a meeting here on Wednesay.
Civil Aviation Minister Ajit Singh had on Monday ruled out any bailout of the airline.
It says the move will help generate additional revenue.
Vijay Mallya-owned private air-carrier, Kingfisher Airlines is in talks with a top former executive of the budget airline, SpiceJet to take him onboard and a final decision on the issue is expected shotly, sources said.
Three months after Sanjay Aggarwal resigned as chief executive officer (CEO) of SpiceJet, the airline announced the appointment of Neil Raymond Mills as the CEO.
The UB Group-controlled Kingfisher Airlines may cancel its orders for Airbus A380s and A350s or swap these planes for smaller planes like A320s and A330s.
Confirming the resignation of Aggarwal, airline sources said Kishore Gupta, a member of the SpiceJet board, is likely to take over the position for the time being as part of an interim arrangement.
Agriculture Minister Narendra Singh Tomar on Wednesday said the government will continue with reforms in the farm sector as they are still due in many areas, even as he reiterated his hope that protesting farmers will soon come forward to resume their dialogue with the Centre to resolve their concerns over three new laws.
Barring one quarter, SpiceJet made a profit in every quarter last year.
SpiceJet has announced the appointment of Seema Chandra as Chief Financial Officer with effect from July 1.
The CEOs met late last month to discuss the agreement. Industry experts said one advantage would be the fact that GoAir was looking at increasing its fleet to 20 aircraft by 2011. "If SpiceJet acquires the airline, it will gain access to slots for the aircraft orders which it can sell," said an industry expert. Selling order slots has emerged as a lucrative revenue stream for several Indian airlines that are feeling the pinch of falling passenger traffic.
The government has accused Premier Automobiles Ltd Managing Director M V Doshi of far out stepping his authority and selling the company's assets, besides embezzling funds and cheating shareholders.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
The report suggests that one of the major impacts of COVID-19 on the media and entertainment industry is the instability caused and the downfall in the advertising revenues across all media segments
The fifth round of talks was held on December 5, while the sixth round originally scheduled for December 9 was called off after an informal meeting of Home Minister Shah with some union leaders failed to reach any breakthrough.
Reacting to the buzz, shares of the grounded-carrier tanked 4.86 per cent to Rs 2.74 -- its lower circuit limit on the BSE.
A source said Mills was leaving the airline as he was not getting operational freedom to run the organisation.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances