Entrusting the responsibility of licensing air traffic controllers with the DGCA would not have “much impact” on the operational structure of the Airports Authority of India (AAI), according to a senior official. As part of complying with the ICAO norms, the civil aviation ministry has decided that the DGCA would be issuing licensing for air traffic controllers.
Petrol and diesel prices set new records on Sunday as they continued their upward march on fall in rupee and surge in global crude oil rates. Petrol price was on Sunday raised by 12 paise a litre and diesel by 10 paise per litre, according to the price notification issued by state fuel retailers.
The rise pushed the petrol price in Delhi to Rs 80.50 per litre. Diesel rate touched its highest level of Rs 72.61 a litre. Fuel prices in Delhi are the cheapest among the metros and most state capitals due to lower taxes.
Alarmed by a nearly four-fold rise in the goods and services tax (GST) compensation to states for June-July, the finance ministry is crafting a strategy to shore up tax revenues and engaging with states to identify issues hindering their collections.
Sebi may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband Deepak Kochhar as part of a probe into alleged regulatory lapses in his business dealings, officials said on Sunday.
Some other top bank officials may also be summoned, along with officials of Videocon, which allegedly benefitted from its association with Deepak Kochhar, for personal hearings on charges against them. If validated, the market regulator’s charges against them can lead fines running into crores and penal actions like ban from markets and directorships.
The kharif production this season may turn weak and there could be a shortage of cereals and pulses, hitting the common man hard in the coming days. Rice, maize and ragi and urad dal output are expected to be the worst compared to production of other foodgrain items.
The government is worried about a likely supply-demand mismatch. The total foodgrain output for kharif crops is projected to decline by 2.83 per cent to 136.75 million tonnes in 2018-19 as against 2017-18 output of 140.73 million tonnes.
Public sector banks, including State Bank of India (SBI) and Punjab National Banks (PNB), are in talks with asset management and investment funds Brookfield, KKR, BlackRock and Edelweiss to set up country’s first asset management company (AMC) that would turn around stressed assets under the new resolution scheme Sashakt.
India can save about Rs 1.2 lakh crore of forex outgo towards oil imports every year by adopting a policy regime to promote electric two-wheelers, a report by Niti Aayog has said.
These are troubles times for the airline business in India. And it is sparing no one. Indian aviation's poster boy IndiGo left investors in a tizzy as it reported a steep 97 per cent fall in profits in April-June quarter. Close on the heels, the other BSE-listed peers SpiceJet and Jet Airways too logged losses with the latter shocking industry watchers with its Rs 1,326 crore hole in its April-June financial statement.
With a drastic fall of the rupee, India’s exports performance may have improved a little bit for the short-term but the country will see a sharp rise in imports in the long-term. Following the persistent depreciation of the rupee over a year, the country’s trade deficit widened to its highest level in more than five years in June, driven largely by a surge in oil prices and a weaker rupee. Though merchandise exports rose 17.57 per cent year-on-year in June, the trade deficit widened to $16.6 billion from $14.62 billion in May.
In a historic judgment, the Supreme Court on Thursday partially struck down as unconstitutional the 158-year-old colonial law — Section 377 of IPC — which criminalises consensual homosexual acts between two consenting adults and triggering celebrations among LGBTQ activists who welcomed it as a harbinger of a more inclusive India.