Economy

Gujarat discovers Rs 2.44/unit solar tariff in latest auction

The latest reverse auction for 500 MW capacity of solar power in Gujarat has discovered tariff of Rs 2.44/unit, matching the lowest-ever rate in the country for the fourth time after it was first foun

Indian Railways to float new global tender for 7.5 lakh tonne rails; likely worth Rs 4,000 crore

Indian Railways is all set to float a global tender of 7.5 lakh tonne (likely worth around Rs 4,000 crore). It is faced with a dilemma to whether reduce its targets for commissioning of new lines so

‘Fin Services sector gets highest ever half-yearly PE/VC funding at $4.2 bn’

The first half of calendar year 2018 has seen financial services emerge as a key sector attracting investments by private equity (PE)/Venture Capital (VC) players at $4.2 billion across 74 deals, a re

Panel discusses irregular discom payments, RBI not present

The empowered committee on stressed power assets, which met for the second time on Friday, deliberated on the vexed issue of irregular payments from discoms to independent power producers.

Homebuyers’ group wants West Bengal to implement RERA

RERA was fully notified in 2017 and states were given powers to notify their respective rules and appoint regulatory authorities.

Telcos seek time to comply with face recognition norm

Telecom operators have urged the Unique Identification Authority of India (UIDAI) for more time to comply with its directive on using face recognition for Aadhaar authentication, as device manufacture

Four states show interest in buying power sans PPAs

Four states — Telangana, Bihar, Tamil Nadu and Haryana — have evinced interest to buy power under a government scheme to promote purchases from plants without power purchase agreements (PPAs), sou

No govt nod required for public companies for managerial compensation: MCA

No government appr-oval would required for public companies for paying salaries beyond a certain threshold to their managerial personnel, an official release said on Friday.

5-MTPA JV unit: Govt in talks with Japanese, Korean firms for steel plant

Prodded by the Prime Minister’s Office (PMO), the steel ministry has initiated talks with Japanese and Korean steel companies for setting up a 5-mtpa steel plant through a joint venture with state-r

GST: TDS/TCS provisions to come into effect from October 1

The government on Thursday notified the form for audit report and reconciliation statement that needs to be filed annually by taxpayers with a turnover of more than Rs 2 crore.

Electrification of all railway lines cleared

While around 46% of the railways’ 66,000-route km are already electrified and work on another 20,000 km is ongoing, the carrier will now also electrify the rest of the 13,675 km at a cost of Rs 12,3

Cabinet decisions: Oil producers to get govt sops for higher recovery

With a view to ramping up production from ageing hydrocarbon fields, the Cabinet on Wednesday approved a policy to incentivise enhanced and improved recovery (ER/IR) methods for oil and gas, and uncon

DSF bid round II may attract $1.2-bn investments: DGH

The Directorate General of Hydrocarbons (DGH) is hopeful of achieving $1.2 billion worth of investments after the second round of bidding of discovered small fields (DSFs) is completed by the bidders.

Uttar Pradesh becomes 1st state to make RFID tag must for e-way bill

Uttar Pradesh has made it mandatory for vehicles operating in the state to use the radio frequency identification device (RFID) tag along with e-way bill from November 1.

Doubling limit for filing DRT cases to expedite NPA recovery: Finance Ministry

The government has doubled the pecuniary limit to Rs 20 lakh for filing applications in the debt recovery tribunals (DRTs) to declutter them and help them focus on high-value matter.

Unlisted firms will issue new shares in demat form from October

As part of its drive against benami entities, the government on Tuesday said unlisted public companies have to compulsorily issue new shares in the demat form from October 2.

Rupee impact: ‘Non-essential imports under government scanner’

The rupee plunge has prompted the government to step up its scrutiny of “high-value and relatively non-essential imports” such as those of gold and certain electronic items to gauge their debilita

Supreme Court vacates Orissa HC stay on solar safeguard duty

Clearing the way for the imposition of safeguard duty on solar cell imports, the Supreme Court on Monday vacated a stay by the Orissa High Court.

Mobile phone makers seek more time from govt for testing, certification

Around 70 handset manufacturers, including Honor, Oppo, One Plus, Micromax and Samsung, have urged the Department of Telecommunications (DoT) to extend the deadline for testing and certification of mo

Panel suggests creation of stressed asset fund to deal with stuck housing projects

A holistic approach is needed to solve the problem of three lakh affected homebuyers suffering because of stalled projects where the builders are unable to navigate forward due to constraints, housing

Setback for Sonia Gandhi, Rahul Gandhi – Delhi High Court dismissed their tax pleas

The Delhi High Court Monday dismissed pleas by Congress leaders Sonia Gandhi and Rahul Gandhi against the Income Tax department’s decision to reopen their tax reassessments for the financial year 20

Boosting digital economy: Google CEO Pichai urges India to allow cross-border flow of data

In a letter, Pichai said free flow of data with focus on user privacy and security will encourage start-ups to expand globally and encourage international companies to contribute to India’s digital

Flipkart deal: Walmart pays $2.5 bn withholding tax

Income tax rules require the buyer (Walmart) to discharge its tax liability within the first seven days of the subsequent month of closing the deal, which was approved by fair market regulator Competi

Banks trim, insurers raise exposure to government papers in Q1

Commercial banks trimmed their exposure to government securities by as much as 90 basis points in the first quarter of this fiscal, against an increase of 130 bps in the March quarter.

SC restrains government from taking a call on 15 banned FDC drugs

The apex court in December referred the issue of 329 FDC drugs to the DTAB for a fresh review before recommending any action.

NIIF to receive Rs 2,750 crore from Temasek

The National Investment and Infrastructure Fund (NIIF) said on Thursday that Singapore-based global investment firm Temasek has agreed to invest up to Rs 2,750 crore ($400 million) in its master fund.

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