Kolkata-based Emami Cement has bagged the first-ever non-coal mining lease allocated through the auction route in Rajasthan.
Betting big on higher demand from construction, railways and other steel-intensive sectors, the government has set an ambitious target of nearly doubling the domestic per capita consumption of the alloy to 120 kg by 2020.
An allocation of R1,000 cr was announced in the Budget for the employment scheme
India produced 8.1 MT steel in August, clocking 9.4% growth over the same month last year. The growth rate is the highest among major steel producing nations, World Steel Association (WSA) data showed.
The steel ministry hopes consumption of the alloy will expand around 6% in 2016-17, buoyed by a pick-up in demand from end-use segments in the second half of the year, even as consumption grew just 1.3% in the first five months of current fiscal.
The Employees’ Provident Fund Organisation (EPFO) fetched a handsome return of 12.1% in the first year of investing fresh inflows in equity exchange traded funds (ETFs), giving ammunition to its central board of trustees to raise exposure in equities from 5% now to 10% or even 15%, the upper limit notified by the labour ministry in April last year.
The government’s plan to widen the 555-km Kishangarh-Udaipur-Ahmedabad highway — one of the largest road projects in the country — has hit a bump again.
Mines min estimates production should grow 21-22% to meet target
The EPFO’s Central Board of Trustees can take the final call on raising the ceiling after discussing the matter with the finance ministry
Move may take number of insured individuals to over 3 crore
The industry has requested the government to reinstate the export incentive in phased manner. For the first six months, it should be retained at the 2% level and then at 1.5% level in the next fiscal and at 1% for the subsequent two financial years.
Work on the expansion, which would start as soon as the company gets some pending clearances from the state, is likely to start towards early next year and will be completed in two years, R Ramnath, CEO, Strelite Copper, told FE.
As part of its plan to take its annual steel-making capacity to 4.5 MT from 1 MT now, Odisha-based Mesco Steel has embarked on expansion of its two existing units in the state, with an envisaged investment of Rs 700 crore.
The day-long general strike to be held on Friday by 10 central trade unions (CTUs) against the Centre’s alleged anti-labour policies is likely to evoke moderate to high response in sectors like coal, oil & gas, transport, port, shipping, banking and insurance, government sources said, apprehending chances of clashes in states like West Bengal and other non-BJP states.
The government’s effort to dissuade 10 central trade unions (CTUs) from going ahead with the September 2 strike did not succeed on Monday as the minimum wage advisory board (MWAB) meeting remained inconclusive.
Another 13 will be allocated through the conventional engineering procurement and construction model where the government bears the entire cost
Will soon get better distribution infrastructure to cut commercial losses
RSS-affiliated Bharatiya Mazdoor Sangh (BMS), the country’s largest trade union, on Thursday said it would decide on withdrawing from the September 2 strike only if the government’s written assurance on their 12-point charter of demands satisfies them.
For the first time in the current year, world steel production saw a positive growth in July. Led largely by a 2.6% growth in Chinese output, global steel production grew by 1.4% in July to 133.7 MT compared to 131.9 MT in the same month last year, data compiled by World Steel Association (WSA) showed.
Employees’ State Insurance Corporation (ESIC) is considering raising the wage ceiling for mandatory ESIC coverage (medical/cash benefits) to R25,000 per month from R15,000 now, in sync with the rise in minimum wages in the country .
Hefty across-the-board hike in minimum wages likely
RSS-affiliated Bharatiya Mazdoor Sangh (BMS), of late, has been critical of the government’s labour policies. However, even as the other 10 central trade unions…
Finance minister Arun Jaitley will meet leaders of the RSS-affiliated Bharatiya Mazdoor Sangh (BMS) on Tuesday as it remained ambivalent on lending support to 10 other central trade unions…
The EPFO started investing 5% of its incremental deposits in exchange-traded funds (ETFs) since August last year and
invested R7,465 crore till June 2016
17 of the 24 auctions in the past were annulled for lack of bidders and competitive intensity — the mines ministry has advised states to assess market factors and try to resolve regional factors, such as land, to kindle investor interest.
Job creation has been one of the priority areas for the Narendra Modi government, but the unemployment rate has only risen to 3.8% of the total estimated workforce of 48 crore in 2015-16. Sources said if the issue was not addressed promptly, it would rob
The proposed R5,000-crore investment plan of ArcelorMittal and SAIL for an automotive steel plant in India, agreed on by the firms more than a year ago, will be finalsied during steel minister Chaudhary Birender Singh’s four-day visit to London and Luxembourg later in the month. Sources in the steel ministry said the minister, who would […]