India to hire 40 private sector experts for crucial mid-level bureaucracy
NEW DELHI: The government of India has decided to appoint 40 private sector specialists at the posts of Deputy Secretary and Director, considered as crucial decision-making levels in the bureaucratic hierarchy, the Lok Sabha was informed on Wednesday. Usually these posts are manned by government servants selected through various Group A services like the IAS […]
India’s external debt increases 2.63% to $543 billion at March-end: RBI
NEW DELHI: India’s external debt increased 2.6 per cent to $543 billion at end-March 2019, primarily on account of a rise in short-term debt, commercial borrowings and non-resident Indian (NRI) deposits, the RBI said on Friday. The increase in external debt was partially offset by valuation gain resulting from the appreciation of the US dollar […]
MG Hector launches industry’s first internet car at Rs 12.18 lakh
NEW DELHI: MG (Morris Garages) Motor India has today launched the much-awaited HECTOR at a very special introductory price of Rs 12.18 lakhs to Rs 16.88 lakhs (ex-showroom, New Delhi). The MG HECTOR, India’s first internet car, has been launched with India’s best vehicle ownership package – the “MG Shield”. It provides private owners free-of-charge […]
No plan to cap H1-B visas, Mike Pompeo will assure India: US Official
NEW DELHI: US Secretary of State Mike Pompeo will assure the Indian leadership during his visit to India next week that the Trump administration has no plans to impose a cap on issuing the highly sought-after H-1B visas that are forcing foreign companies to store data locally, an American official said on Friday. The H-1B […]
India sacks 15 customs, central excise officers on charges of corruption
NEW DELHI: After sacking errant income tax officers, the government of India on Tuesday dismissed from service 15 senior customs and central excise officials, including one of the rank of principal commissioner, on charges of corruption and bribery. Invoking rule 56(j) of the Fundamental Rules, the government has sacked these Central Board of Indirect Taxes […]
Olialia and Aerojet Joint Venture to launch Chartered Business Jets; Invest $25 million in India
By Sanjeeb Kumar NEW DELHI: With a view to disrupt Chartered Air Services domain and provide corporate honchos with upmarket uber luxury air-charter service, European FMCG giant ‘Olialia World’ recently announced a joint venture (JV) with the Delhi-based Aerojet Aviation Private Limited to launch private jets and helicopter services branded as ‘Olialia Sky’ (pronounced as […]
India likely to provide Rs 30,000 crore to PSU banks in Budget 2019
NEW DELHI: India’s Finance Ministry is evaluating capital needs of state-owned banks, and likely to provide about Rs 30,000 crore in the upcoming Budget to help them meet minimum regulatory capital requirement in the current fiscal, sources said. The first budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister […]
Xiaomi inaugurates first component manufacturing plant in India
NEW DELHI: Smartphone major Xiaomi Saturday said Holitech Technology – one of its global component suppliers – has inaugurated its first component manufacturing plant in India (Greater Noida). Holitech Technology has built its operations in Greater Noida, Uttar Pradesh and was first invited by the Chinese tech major in the first quarter of 2018 to […]
89 per cent family businesses in India expect to grow in next 2 years: Survey
NEW DELHI:Family businesses in the country are on a growth trajectory, with 89 per cent of them expecting to grow in the next two years, according to a survey. The global survey, ‘Family Business Survey 2019’ by PwC, was done among 2,953 family leaders across 53 countries, including 106 family business leaders, between April 20 […]
Goal to make India a 5 trillion dollar economy by 2024: Narendra Modi
NEW DELHI: The Prime Minister Narendra Modi today delivered the opening remarks at the fifth meeting of the Governing Council of NITI Aayog, in RashtrapatiBhawan Cultural Centre in New Delhi. Welcoming the Governor of J&K, Chief Ministers, Lieutenant Governor of Andaman and Nicobar Islands, and other delegates, the Prime Minister reiterated that NITI Aayog has […]
India approves SEZ amendment bill to permit trusts to set up units
NEW DELHI: A bill to amend the special economic zones law will be introduced in the ensuing session of Parliament to replace an ordinance promulgated in March which will allow trusts to set up units in SEZs. The introduction of the Special Economic Zones (Amendment) Bill, 2019 was approved by the Union Cabinet in its […]
Pakistan extends airspace ban along its eastern border with India till 28
LAHORE: Pakistan on Thursday extended its airspace ban along its eastern border with India for the third time till June 28, according to a notice issued by the country’s Civil Aviation Authority (CAA). Pakistan fully closed its airspace on February 26 after the Indian Air Force struck a Jaish-e-Mohammed (JeM) terrorist training camp in Balakot. […]
India dismisses Ex-CEA’s claim, says accepted norms used for GDP estimation
NEW DELHI: Dismissing the contention of former Chief Economic Adviser (CEA) Arvind Subramanian regarding over-estimation of GDP numbers, the government said Tuesday it follows accepted procedures and methodologies for arriving at projections of national income. The Ministry of Statistics and Programme Implementation (MoSPI) also added that its projections of the Gross Domestic Product (GDP) growth are […]
We’re bank everyone wants to rob: 50 percent tariff on US motorcycles by India unacceptable, says Donald Trump
NEW DELHI: US President Donald Trump said that even though India has reduced its import tariff on American motorcycles from 100 percent to 50 percent, it is still too high and not acceptable to him. Trump said the United States, under his leadership, is a country that can no longer be fooled. “We’re not the […]
Investors lose Rs 2.22 lakh crore as equities plunge
NEW DELHI: Investor wealth eroded by Rs 2.22 lakh crore on Thursday as markets recorded their biggest single-day fall this year after RBI delivered a rate cut on expected lines, but failed to assuage concerns regarding the NBFC sector. The 30-share BSE Sensex plummeted 553.82 points, or 1.38 per cent, to close at 39,529.72. Tracking […]
IFC sees green bond scope in India, says project identification only issue
NEW DELHI: The International Finance Corporation (IFC) sees immense opportunities to finance projects through green bonds in India especially in areas like urban transportation, waste-to-energy and water treatment, its senior official said here on Tuesday. “Opportunities in India are huge. Look at infrastructure and amount of urbanisation and the level of agriculture (projects),” said Vivek […]