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<b>Indian Railways may miss Rs 1 lakh cr capex target this fiscal: BofA-ML</b>: The Ministry of Railways is likely to miss its "ambitious" capital expenditure target of Rs 1 lakh crore for the current fiscal, says a BofA-ML report. Noting that capital expenditure growth this financial year has been trending below the long-term average, Bank of America Merill Lynch said a capex of Rs 378 billion (Rs 37,800 crore), or 38 per cent, of the 2015-16 plan has been made till October. (Reuters)
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<b>Micromax to invest Rs 300 cr for 'Make in India'</b>: Handset maker Micromax will invest Rs 300 crore over the next few months as it sets up three new manufacturing units in India to ramp up domestic production and reduce dependence on imports from China. The new plants will be set up in Rajasthan, Telangana and Andhra Pradesh and will become operational over the course of next year. (Reuters)
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<b>Datawind to launch 4G smartphones for Rs 3,000 by Feb</b>: Low-cost handset maker Datawind will launch a 4G device early next year for about Rs 3,000 and offer free Internet browsing for 12 months on it. "We will launch a 4G device for about Rs 3,000 with free unlimited 4G browsing for 12 months," Datawind President and CEO Suneet Singh Tuli told PTI.
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<b>Odd-even formula: 10L pvt vehicles in Delhi to go off roads daily</b>: Nearly 10 lakh private cars will daily stay off the roads in the national capital once the odd- even formula is enforced from January 1, with the drastic reduction in traffic flow expected to significantly reduce the high-level of pollution in the city. There are over 19 lakh private four-wheelers registered in Delhi and nearly half of these will go off the roads with the implementation of AAP government's ambitious odd-even formula. (Reuters)
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<b>5. Air India preparing to start direct flight to Washington by 2016 end</b>: Air India has begun the process to start its fifth non-stop flight to the US by next year end, making Washington the national carrier's next destination after successfully launching direct flight to San Francisco. "We will complete the viability study in next few months and once it's completed we will move on next step. If everything goes fine, we may start a direct flight to Washington by the end of 2016," a top Air India official said. (Reuters)
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<b>6. Email project between IT dept, taxpayer delayed</b>: The rollout of an ambitious pilot project of Income Tax department to begin paperless and email-based communication with taxpayers has been delayed as many chosen tax offices have not sent the required data to the CBDT even after over a month-and-a-half of the go-ahead. The Central Board of Direct Taxes, in October, had chosen Delhi, Mumbai, Bengaluru, Ahmedabad and Chennai tax ranges for the initial beginning of the project where the cases of 100 chosen and willing assesses who are facing scrutiny action will be dealt over email. (Reuters)
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<b>7. IOC to invest Rs 1.75 lakh cr in expansion projects</b>: IOC, India's largest oil firm, will invest Rs 1.75 lakh crore over the next seven years on expanding refinery capacity, building petrochemical plants and laying pipelines, a company official said.The plan includes spending Rs 34,555 crore in the 15 million tons a year Paradip oil refinery in Odisha that has recently started producing fuel. (Reuters)
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<b>8.Cabinet may approve new power tariff policy next week</b>: Union Cabinet is likely to approve next week a new power tariff policy to boost regulatory mechanism for discoms and focus on clean energy sources like solar and wind. Besides, the Union Cabinet may also discuss the proposal for policy on supply of coal to unregulated sectors like steel and cement. "Union Cabinet is most likely to discuss and approve the electricity tariff policy by the Power Ministry in its meeting expected next week", said a source. (Reuters)
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<b>9. Investors from Mumbai, Ahmedabad dominate IPO market in 2015</b>: Individuals from Mumbai and Ahmedabad account for more than half of the funds garnered from retail investors in IPOs so far in 2015, while the national capital has contributed less than 6 per cent. Together, Mumbai and Ahmedabad contributed over 54 per cent or about Rs 2,200 crore in terms of funds garnered by the IPOs from retail investors, according to an analysis of 18 initial public offerings (IPOs) that hit the capital markets in 2015. (Reuters)
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<b>10. India Inc's M&A deals at $31 bn in Jan-Nov: Grant Thornton</b>: Corporate India signed merger and acquisition (M&A) deals worth USD 31.16 billion in the first eleven months of this year, while transactions in November were valued at USD 3 billion, says a Grant Thornton report. According to the assurance, tax and advisory firm, the January-November deal tally remained subdued with transactions worth USD 31.16 billion this year, while in the corresponding period last year it stood at USD 34.62 billion. (Reuters)
e-Aadhaar app launch in India: Easily update your date of birth, address and phone number instantly with the upcoming all-in-one app
