The government has so far received around 150 proposals from sugar mills like Bajaj Hindustan, seeking soft loan under a recently launched scheme for expansion and setting up of a new ethanol capacity, a senior Food Ministry official said today.
Plan and Policy
Plan & Policy
Escorts, India’s third largest tractor manufacturer and Tadano Group, Japan’s biggest and world’s leading mobile crane manufacturer, on Monday announced their joint venture to manufacture rough terrain cranes and truck mounted cranes.
The 51:49 joint venture between Tadano and Escorts will be called Tadano Escorts will initially invest Rs 60 crore and expand with volume growth.
Tadano has been selling its products made in Japan and Germany in India since 2012.
The consumer durable industry will see demand shooting up for essential home appliances once flood-affected Kerala households get back to normalcy.
Kerala accounts for 10 per cent of the total annual sales of the Rs 30,000 crore consumer durable and appliances market. The Rs 3000 crore Kerala market has been growing at a rate of 12-15 per cent. However, the rains and the floods have washed away 40 per cent of this year’s sales, which occurs during the Onam time.
Diesel prices on Monday hit a record high of Rs 69.46 per litre while petrol rates inched towards Rs 78 a litre mark after a fall in rupee made imports costlier. Diesel price was on Monday hiked about 14 paise per litre and petrol by 13 paise, according to price notification of state-owned fuel retailers.
The increase pushed diesel price to its highest ever level of Rs 69.46 a litre in Delhi. In Mumbai, the fuel now costs Rs 73.74 a litre.
Fuel prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT.
Nearly 5.76 lakh housing units worth Rs 4,64,300 crore are delayed in seven major cities of the country despite implementation of the new real estate law RERA that came into effect May last year, according to a property consultant.
Ducati, the Italian luxury motorcycle manufacturer on Monday widened its portfolio by introducing a new Scrambler 1100 bike and 2 more variants called Special and Sport in the competitive Indian bike market to boost sales. Apart from the standard Scrambler 1100 model priced at Rs 10.91 lakh, the variants are available in two higher-specification models called the Special at Rs 11.12 lakh and the Sport at Rs 11.42 lakh at pan India showroom.
Post-harvest agri warehouse management services provider SLCM will take up consolidation of the fragmented market and add around 2,000 new warehouses to its fold. It will also start warehouse management of metals soon.
SLCM currently manages 2,863 warehouses with a throughput of 686.60 million tonnes. It plans to add 2,000 more warehouses, thus doubling its capacity, in next 18 months.
Malaysia on Monday pitched for deepening its economic engagement with India and said that achieving the trade target of $15 billion annually by 2020, which the two countries had set, looks “promising”.
Malaysia's high commissioner to India Hidayat Abdul Hamid, while addressing an interactive session on ‘Doing Business with Malaysia’ here, said India was an important trading partner for Malaysia and both the countries needed to work closely in order to deepen bilateral trade relations.
Amid the tug of war between ruling Bharatiya Janata Party (BJP) and Opposition Congress over the higher growth numbers during the latter’s tenure, finance minister Arun Jaitley on Monday termed the higher gross domestic product (GDP) prints and NPA pile to the indiscriminate lending before and after the 2008 global credit crisis.
More than 40 per cent districts in South India witnessed deficient rainfall this monsoon season, the India meteorological department (IMD) data showed, despite the southern state of Kerala experiencing excessive precipitation. Of the 125 districts in the region, 54 reported deficient rainfall and another two were “largely” deficient.
The worst hit state by deficient rainfall in South India was Tamil Nadu, according to the IMD data. Of its 32 districts, 20 received deficient rainfall while one reported large deficiency.