Ajay Bhushan Pandey names as India’s Revenue Secretary
NEW DELHI: UIDAI CEO Ajay Bhushan Pandey will be the new Finance Secretary, replacing Hasmukh Adhia — the Gujarat-cadre IAS officer who is set to retire on November 30. Pandey, a 1984-batch IAS officer of the Maharashtra cadre, would continue to hold the additional charge of Unique Identification Authority of India (UIDAI) CEO and Goods […]
India’s finance secretary Hasmukh Adhia to retire on November 30
NEW DELHI: Showering praises on finance secretary Hasmukh Adhia, who retires on November 30, finance minister Arun Jaitley on Saturday said he was a no-nonsense civil servant who performed his job with professionalism. In a Facebook post titled ‘Dr. Hasmukh Adhia retires’, Jaitley said “he was unquestionably a highly competent, disciplined, no-nonsense civil servant and […]
Australia takes India to WTO over sugar subsidies
NEW DELHI: Australia said on Friday that it was taking legal action against India at the World Trade Organization (WTO) over sugar subsidies, alleging that it caused a “significant downturn” in world prices and hurt Australian producers. Australia alleges that the subsidies, which have seen Indian sugar production leap from an average 20 million tonnes […]
Intel opens design house costing Rs 1,100 crore in India
BENGALURU: Marking its 20th anniversary, Intel India on Thursday announced the inauguration of its latest state-of-the-art design house at its campus here, built with an investment of approximately Rs 1,100 crore. The newest facility located at Intel’s 44-acre campuson Sarjapur Ring Road, has 620,000 sq. ft. of space including 100,000 sq. ft. of world-class lab […]
India will not amend any provision of RERA
NEW DELHI: India’s Housing Minister Hardeep Singh Puri on Thursday said the government will not amend any provision of Real Estate Regulatory Authority (RERA) and warned states against tweaking rules of the centre’s real estate law, asserting that it will lead to “harsh consequences”. The Union housing and urban affairs minister said the “full benefit” […]
Rafale deal: India hands over document on decision process to petitioners
NEW DELHI: The government of India (Centre) on Monday complied with a Supreme Court order and handed over to petitioners, who sought a court-monitored CBI probe into the procurement of 36 Rafale fighter jets from France, the document detailing the decisions taken to procure the aircraft. The document titled “Details of the steps in the […]
India invites Swedish companies to explore investment opportunities
By Rajesh Rai STOCKHOLM: A vast consumer market and government initiatives to promote manufacturing and digital penetration provide huge opportunities for Swedish companies to invest in India, an Indian official said on Monday. “India’s growth which is complemented by a large consumer market offers huge business opportunities for Swedish companies. There is a tremendous scope for […]
Vondom partners with P3 Architectural Solutions for exclusive distribution in India
NEW DELHI: Another feather in the cap of P3, wherein P3 and Vondom join hands to market their outdoor furniture on Exclusive Pan India tie up. Vondom produces sophisticated indoor and outdoor furniture made of polyethylene and polypropylene which includes chairs with or without illumination, tables, sofas, sun lounges and daybeds with simple – elegant […]
RBI vs Government: The 18 wise men tasked to supervise Mint Street
NEW DELHI: As an unprecedented fight plays out between the Reserve Bank of India (RBI) and the Narendra Modi government, it is the central bank’s 18 board members who are being keenly watched for their next course of action — they are not only central bankers and government officials but also business leaders, economists and […]
GST compensation paid to states declines to Rs 11,900 crore in August-September
NEW DELHI: GST compensation paid to states by the Centre has declined to over Rs 11,900 crore during August-September, an official said. The bi-monthly GST compensation paid during the June-July period was Rs 14,930 crore, nearly four-fold jump from Rs 3,899 crore paid in April and May. “Over Rs 11,900 crore has been released to […]
India contracts 8 lakh tonnes of sugar exports so far
NEW DELHI: Saddled with surplus stock, sugar mills in India — the world’s second largest producer, have contracted to export about 8,00,000 tonnes of the sweetener so far to countries like Middle East and Sri Lanka, a government official said. Out of the total contracted quantity, raw sugar comprises 6,00,000 tonnes and the rest 2,00,000 […]
357 infrastructure projects show cost overruns of over Rs 3.39 lakh crore
NEW DELHI: As many as 357 infrastructure projects, each worth Rs 150 crore or above, have shown cost overruns to the tune of over Rs 3.39 lakh crore owing to delays and other reasons, a report said. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. “Total original […]
National permit vehicles can now ply without two drivers
NEW DELHI: The national permit vehicles can now ply without two drivers, the government said Saturday. Besides, there is also no requirement of having dark brown body colour for such vehicles, as was mandatory earlier with amendment in Central Motor Vehicles Rules. “The Ministry of Road Transport and Highways has made amendments to CMVR 1989. […]
India’s economic growth held back due to demonetisation, GST: Raghuram Rajan
By Lalit K Jha WASHINGTON: Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India’s economic growth last year, former RBI Governor Raghuram Rajan has said, asserting that the current seven per cent growth rate is not enough to meet the country’s needs. Addressing an audience at the […]
Government says not seeking massive reserve transfer from RBI, in talks for ‘capital framework’
NEW DELHI: Amid a face-off with the Reserve Bank of India (RBI), the government of India said it is discussing an “appropriate” size of capital reserves that the central bank must maintain but denied seeking a massive capital transfer from the Reserve Bank. The Reserve Bank of India (RBI) has a massive Rs 9.59 lakh […]
India inducts 3 major artillery gun systems
DEOLALI: India’s Defence Minister Nirmala Sitharaman on Friday inducted three major artillery gun systems, including the M777 American Ultra Light Howitzers and the K-9 Vajra, into the Army. The third gun system inducted is the ‘Composite Gun Towing Vehicle’ for towing some of the existing guns in service with the country, while K-9 Vajra is […]