India’s Defence Ministry approves procurement of military hardware worth Rs 13,165 crore
NEW DELHI: The defence ministry on Wednesday approved the procurement of military platforms and hardware worth Rs 13,165 crore that included 25 indigenously-developed ALH Mark-III helicopters for the Indian Army to boost its combat capabilities. The cost of acquiring the advanced light helicopters from the state-run Hindustan Aeronautics Ltd (HAL) has been estimated at Rs […]
Petrol, diesel prices hiked; more to come as crude nears $80/barrel
NEW DELHI: Petrol price on Tuesday was hiked by 20 paise per litre and diesel by 25 paise as international oil prices neared USD 80 per barrel mark for the first time in three years. The price of petrol was hiked to Rs 101.39 a litre in Delhi from Rs 101.19 and to Rs 107.47 per […]
Luxury carmaker Audi pitches for lower import duties on electric vehicles
NEW DELHI: German luxury carmaker Audi has termed high taxation on imported cars in India an impediment for growth of the electric segment while noting that even some relief in terms of duties could help it sell more vehicles and convince its headquarters to re-invest in the country for local manufacturing of such models. The […]
Reliance Infrastructure to raise Rs 750 crore through bond issue
NEW DELHI: Reliance Infrastructure on Saturday said its board has approved raising up to Rs 750 crore by issuing foreign currency convertible bonds (FCCBs) on a private placement basis. Reliance Infrastructure in a BSE filing also said that Sandeep Khosla has been appointed as Chief Financial Officer (CFO) of the company. “We hereby inform you […]
‘Dear POTUS…,’ tweets farmer leader ahead of Joe Biden’s meeting with Narendra Modi
NEW DELHI: Bharatiya Kisan Union (BKU) leader Rakesh Tikait on Friday appealed to Indians living in the US to hold a protest during Prime Minister Narendra Modi’s programme in New York on Saturday in support of the 10-month-long farmers’ agitation at Delhi’s borders. He also urged US President Joe Biden to focus on concerns of […]
Bank deposits rise 12% in FY21 on higher CASA growth: RBI data
NEW DELHI: Bank deposits grew 11.9 per cent year-on-year during 2020-21 compared to 8.8 per cent in 2019-20 on the back of high growth in current account and savings account (CASA) deposits, RBI data showed. The share of CASA deposits increased to 43.7 per cent in March 2021 compared to 41.7 per cent a year […]
Indian Army to procure 118 Arjun Mk-1A Main Battle Tanks for Rs 7,523 crore
NEW DELHI: The Defence Ministry placed an order to procure 118 Main Battle Tanks (MBTs) Arjun Mk-1A with the Heavy Vehicles Factory (HVF) in Chennai for the Indian Army on Thursday. The order, worth Rs 7,523 crore, will provide further boost to the ‘Make in India’ initiative in the defence sector and is a big […]
Airbus gets Rs 22,000 crore contract form Defence Ministry for 56 C-295 transport aircraft
NEW DELHI: India has formalised the acquisition of 56 Airbus C295 aircraft to replace the Indian Air Force (IAF) legacy AVRO fleet as India’s Defence Ministry inked a nearly Rs 22,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian […]
India appoints 13 new Secretaries, as six to retire, seven posts vacant
NEW DELHI: As six top administrative positions are set to fall vacant with the incumbents retiring from service at the month end while a few others are lying vacant for months, the government on Wednesday announced appointment of 13 Secretaries in various ministries and departments on Wednesday. With the officers holding the position of Secretaries, […]
Air Marshal V R Chaudhari appointed next Chief of Air Staff
NEW DELHI: Government of India has decided to appoint Air Marshal V R Chaudhari, PVSM, AVSM, VM, presently Vice Chief of Air Staff, as the next Chief of the Air Staff after the retirement of Air Chief Marshal RKS Bhadauria, PVSM, AVSM, VM, ADC on 30th September, 2021. He has earlier served as the Air […]
World’s richest 500 lose $135 billion as Evergrande concerns spark market rout
By Tom Maloney & Blake Schmidt A global rout in stock markets sparked by concerns over China Evergrande Group hit the world’s biggest fortunes Monday, with the richest 500 people losing a combined $135 billion. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell $7.2 billion to $198 billion, according to […]
Delhi-Mumbai Expressway to generate Rs 1,000 to 1,500 crore revenues every month: Nitin Gadkari
NEW DELHI: The government of India will get toll revenues worth Rs 1,000 to 1,500 crore every month once the much-awaited Delhi-Mumbai Expressway becomes operational in 2023, Union minister Nitin Gadkari said on Sunday and described state-owned NHAI as a “gold mine” for generating income. Steering the ambitious drive to expand the country’s road infrastructure […]
Foreign tourists may be allowed to visit India soon
NEW DELHI: Amid a decline in Covid-19 cases in the country, India may soon reopen its doors for foreign tourists for the first time in one-and-a-half years, officials said. First five lakh foreign tourists will be issued visas free of cost in an attempt to revive the tourism, hospitality and aviation sectors badly hit by […]
In a first, BRO appoints woman Army officer as in-charge of road construction unit
NEW DELHI: The Border Roads Organisation (BRO) has appointed a woman Army officer for the first as the Officer Commanding of its 75 road construction company (RCC) in Uttarakhand, the Defence Ministry said on Sunday. The three platoon commanders under Major Aaina, Captain Anjana, AEE (Civ) Bhawana Joshi and AEE (Civ) Vishnumaya K became the […]
Kaushik Basu says manipulation of World Bank’s Doing Business ranking is ‘shocking’
NEW DELH: Terming allegations of manipulation of World Bank’s Doing Business Ranking as ‘shocking’, former chief economist of World Bank Kaushik Basu said on Saturday that pressure was there from governments during his tenure, but the multilateral institution never gave in. The World Bank Group has decided to discontinue publication of its Doing Business (DB) […]
Najafgarh – Dhansa Bus Stand section on the Grey Line of Delhi Metro inaugurated
NEW DELHI: The Najafgarh – Dhansa Bus Stand section on the Grey Line of Delhi Metro was inaugurated today by the Union Minister of Housing and Urban Affairs& Petroleum and Natural Gas Hardeep Singh Puriand the Chief Minister of Delhi Arvind Kejriwal,via video conferencing. The Dhansa Bus Stand is an underground station and an extension […]