Plan and Policy

Plan & Policy

Financial constraints force NHAI to crawl

Highway construction has started losing the initial momentum with risk-averse PSU banks limiting lending to the sector. This threatens execution of dozens of road projects besides the government missing its FY19 target.

1 killed, 3 hurt in blast in IISc Bangalore lab

A suspected cylinder blast killed a 32-year old technician and injured three others during an experiment in the aero-dynamics laboratory of the Indian Institute of Science (IISc) here on Wednesday.

Four technicians of a private start-up company were involved in some experiment at the laboratory when an explosion occurred suddenly at around 2.20 pm, they said. 

Tyres exports to cross Rs 12,000 crore this year

Tyre exports from In­d­ia are expected to cr­o­ss Rs 12,000 crore for the first time this fiscal after having clocked a turnover of Rs 6,314 crore in the first half of the year.

Tyre exports have been gr­owing for the past three years. From Rs 8,824 crore in year 2015-16, tyre exports fr­om India went up to Rs 9,658 crore in 2016-17 and cr­ossed the 10K crore mark for the first time to stand at Rs 11,180 crore in 2017-18, industry body automotive tyre manufacturers association (ATMA) said.

Ministry proposes import duty cuts on more EV parts

The heavy industries mi­­­­nistry has proposed red­u­c­ing customs duty on pa­rts of electric vehicles wh­i­ch are currently not exempted from import ta­riff to the department of revenue, said senior officials.

To boost pr­­­­­oduction of electric vehi­cles (EVs) in the count­ry, the ministry has also su­ggested defining semi knocked down and completely knocked down kits used for streamlining of customs duty.

PMI shows strong rise in business activity: Garg

The PMI data for November shows overall strong increase in business activity as well as demand and should augur well for economic growth in October-December quarter, economic affairs secretary Subhash Chandra Garg said on Wednesday.

The Nikkei India Composite PMI Output Index — that maps both the manufacturing and services sector — rose to 54.5 in November, pointing to the fastest expansion in private sector activity since October 2016, data released on Wednesday showed.

The Composite PMI Output Index in October was at 53.

Services activity sees quickest growth since July

The country’s services sector activity in November expanded at the quickest pace since July, driven by new work orders and favourable market conditions, which in turn led to a continued rise in jobs, a monthly survey said on Wednesday.

The seasonally adjusted Nikkei India services business activity index rose to a four-month high of 53.7 in November, from 52.2 in October, as firms highlighted factors such as favourable market conditions and sales growth that boosted activity.

Patel parries queries on spat with govt

RBI governor Urjit Patel on Wednesday refused to comment on the tension with the government, including the invocation of Section 7 or the proposed economic capital framework for the central bank.

Amazon Invests $300 Million In India Unit Inc invested about $300 million (Rs 2,200 crore) in its Indian marketplace, taking its total infusion in the business to $4.7 billion as it faces a fresh challenge from Walmart-backed Flipkart.

The latest investment into Amazon Sellers Services Pvt. Ltd. came from Singapore-based Amazon Corporate Holdings and Mauritius-based, filings made with the Registrar of Companies show.

Mobile calls, internet on flights may start next month

Air passengers may be allowed to make mobile calls and surf the internet during flights in the Indian airspace, possibly from next month, once the law ministry gives its views and approval to the proposal, telecom minister Manoj Sinha said on Wednesday. The telecom ministry is awaiting the views of the law ministry on in-flight connectivity rules and is hopeful of notifying the norms soon thereafter, Sinha said.