Economy

Govt plans to invite bids for Udan-III next month

The Ministry of Civil Aviation on Thursday said it is likely to announce the third phase of the regional air connectivity scheme, Udan, next month.

Walmart may approach I-T for tax liability

The income tax department (ITD) is expecting US retail giant Walmart to approach it within a fortnight to determine the withholding tax liability arising from its $16-billion acquisition of e-commerce

I-T department to scrutinise 0.35% of returns filed for FY18

In what would make the income tax department less intrusive, it would scrutinise only 0.35% of returns filed for the last fiscal, down from 1% earlier.

Rajasthan suspends Net services over 140 times in a year: COAI to DoT

Telecom operators body Cellular Operators Association of India on Thursday urged telecom secretary Aruna Sundararajan to address the issue of frequent suspension of internet services by state governme

Canadian pension funds keen to invest in Pune infrastructure

Around Rs 85,000 crore is needed for upgrade and new infrastructure in the city

IWAI to get majority stake in Kerala’s Rs 2,300-cr waterways SPV

The Inland Waterways Authority of India (IWAI) is to take the majority equity in Kerala Waterways Infrastructures (KWIL), an SPV (special purpose vehicle) floated for the development of 610-km of wate

NCLT benches may be doubled to cope with rising cases

The Ministry of Corporate Affairs is mulling to increase the number of benches at the National Company Law Tribunal from 11 to 24 amid rising number of insolvency cases coming up before the tribunal,

ONGC is HPCL promoter, no confusion about it, says Dharmendra Pradhan

Petroleum minister Dharmendra Pradhan on Thursday said national oil explorer ONGC is the promoter of oil marketing company HPCL and “there should be no confusion about it”.

RBI stand: No special dispensation for stressed power units

The Reserve Bank of India is understood to have told the Allahabad High Court that it is not possible to relax its February 12 circular mandating one-day default trigger for resolution of stressed ass

India needs to simplify GST, cut debts, says IMF

Says high MSPs “could skew farmers’ production decisions, add to inflation and enlarge fiscal burden”

Outside food in multiplexes: HC pulls up Maharashtra govt

The Bombay High Court on Wednesday pulled up the Maharashtra government as the latter backed down from its earlier stance favouring moviegoers to carry their own food into cinema halls to counter the

Firms submitting cost audit reports to govt to provide GST details

Companies that are required to submit cost audit reports to the government will now have to provide details related to the goods and services tax (GST) after the Ministry of Corporate Affairs released

Maharashtra regulator allows Adani Power to recover GST expenses

The Maharashtra Electricity Regulatory Commission (MERC) has allowed Adani Power to recover additional expenses incurred by its subsidiary Adani Power Maharashtra (APML) due to introduction of the goo

Amendment to CGST Act: Pre-GST cess credit can’t be carried forward

An amendment to the central goods and services tax (CGST) Act has explicitly and retrospectively barred claiming transitional credit in lieu of the Krishi Kalyan cess and Swachh Bharat cess paid in th

This smart move by government could save Rs 10,000 crore taxpayer money in funding welfare schemes

With the Public Finance Management System (PFMS) making progress in tracking utilisation of funds up to the last mile and ensuring that funds are transferred only ‘just-in-time’ and not earlier fo

Stressed power assets: SC refuses to stay HC proceedings

The Supreme Court on Tuesday refused to stay the Allahabad High Court proceedings related to the RBI circular that mandates insolvency proceedings for a debt servicing default beyond 180 days.

MIAL wants to boost Navi Mumbai airport capacity by 50%

GVK-led Mumbai International Airport (MIAL) has decided to expand the capacity of the Navi Mumbai airport by 50% from 60 million passengers to 90 million passengers.

Government exploring tech interventions to curb fake news

The government is considering steps to control the spread of fake news and provocative content on the internet, especially social media platforms, which is believed to instigate incidents like lynchin

TOT Model: NHAI plans to generate Rs 5360 crore from 8 projects in 4 states

The National Highways Authority of India’s (NHAI) on Monday issued request for proposals (RFP) for the second bunch of highway projects under the toll-operate-transfer (TOT) model.

Net neutrality: DoT to seek Trai views on monitoring & enforcement body

The Department of Telecommunications (DoT) will soon approach the Telecom Regulatory Authority of India (Trai) for its recommendations on setting up a multi-stakeholder body for monitoring and enforce

Transmission woes: SECI halves wind capacity for auction

The capacity of wind power projects offered in the upcoming tranche of competitive bidding has been slashed to 1,200 MW from the original proposal of 2,500 MW.

Virar – Alibaug multimodal corridor: Farmers having land holdings to get 5 times the market value for their land

MMRDA is willing to follow the same method of paying compensation as had been done in the case of the Nagpur-Mumbai Expressway.

As banks put sugar on ‘caution list’, UP mills ask govt to rise above tokenism

With banks showing reluctance in lending to sugar mills amid fears of burgeoning NPAs and placing them on the caution list, the Uttar Pradesh sugar industry shot off another missive to chief minister

Assam tea plantation workers’ wage hike may hit margins

Margins of bulk tea producers in the two largest tea producing states are estimated to come under pressure with the interim enhancement of wages, according to a report by ICRA.

‘Delhi best in potential for fresh investments’

The ranking of states by the DIPP and the World Bank was based on how states fared in implementing an action plan adopted by them within a year, and didn’t exactly reflect the business-conducive nat

Open to amending IBC again: Govt

The government is “more than willing” to take any good suggestions, examine it and make further changes to the Insolvency and Bankruptcy Code, if required, Injeti Srinivas, secretary at the Minist

GST revenue may witness ‘shortfall’ for 3-4 months after rate cut: Sushil Modi

GST Implementation Committee chairman Sushil Modi on Thursday said there may be a ‘shortfall’ in revenue collections for the next three-four months with lowering of the indirect tax rates on more

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