(ET) Hyundai Motor India will invest ₹4,000 crore to launch half a dozen electric vehicles (EV) by 2028 in a series of targeted product interventions, underscoring increasing consumer preference in the country for mobility solutions of the future. The first of these products, eventually covering both mass and premium segments, will hit Indian roads as early as next year. Hyundai Motor India managing director SS Kim told ET that high-speed electrification of the automotive sector has become a reality, with the share of EVs rising to as high as a fifth of the total in several markets. “I think India might…
Author: Aruna Sharma
(ET) The Reserve Bank of India Governor Shaktikanta Das announced that the Monetary Policy Committee had opted to keep the rates unchanged in its latest meet. The committee voted with a 5:1 majority to maintain an ‘accommodative’ stance to revive and sustain growth on a durable basis. The reverse repo rate has remained unchanged at 3.35%. Marginal Standing Facility (MSF) & bank rate too have remained unchanged, at 4.25%. “The prospects of economic activity are steadily improving. Given the slack in private consumption, continued support is required for a durable recovery,” Das said. “Crude oil prices softening in November would alleviate…
(PTI) Opposition parties continued their protest over the suspension of 12 MPs on Tuesday with a ‘dharna’ in Parliament premises that saw several leaders holding up placards demanding revocation of the action taken. Earlier in the day, Rajya Sabha resumed its proceeding at 11 am. Soon after, it was adjourned for almost three hours till 2 pm. Thereafter, some opposition members gathered at the place where the suspended MPs along with other colleagues were sitting on ‘dharna’ holding up placards with slogans such as ‘Save Democracy’, ‘Save India’ and ‘Revoke Rajya Sabha MPs suspension’.Samajwadi Party’s Rajya Sabha MP Jaya Bachchan…
(PTI) As India and Bangladesh commemorate ‘Maitri Diwas’, Prime Minister Narendra Modi on Monday said he looks forward to continue working with his Bangladeshi counterpart Sheikh Hasina to further expand and deepen bilateral ties. ‘Maitri Diwas’ is being observed on Monday to mark India recognising the newly-formed country Bangladesh in 1971. “Today India and Bangladesh commemorate Maitri Diwas. We jointly recall and celebrate the foundations of our 50 years of friendship,” Modi tweeted. “I look forward to continue working with PM Sheikh Hasina to further expand and deepen our ties,” he said. Ministry of External Affairs Spokesperson Arindam Bagchi tweeted that “today we…
(PTI) Amid global scare due to new coronavirus variant Omicron, the RBI is likely to maintain status quo in its upcoming monetary policy and wait for a more opportune time to calibrate benchmark interest rate to promote growth without sacrificing the main objective of containing inflation. The Reserve Bank Governor-headed Monetary Policy Committee (MPC) is scheduled to meet during December 6-8, 2021. The decision of the rate setting panel would be announced on Wednesday (December 8). The central bank had kept the benchmark policy rate unchanged in October. “…we believe the talks of a reverse repo rate hike in the…
(FE) With elevated global oil prices, stepping up domestic production must be prioritised at all costs To reduce vulnerability to high and volatile global prices, determined efforts must be made to increase the levels of relative self-sufficiency by stepping up domestic oil and gas production. Unfortunately, this is not happening. Domestic crude production has been steadily declining from 38.1 MMT in 2011-12 to 30.5 MMT in 2020-21. Till October this fiscal, production at 17.4 MMT is virtually unchanged from the levels during the corresponding period in 2020-21, according to the Petroleum Planning & Analysis Cell. Domestic production is falling due to…
(NDTV) As many as nine people have tested positive for the Omicron variant of Covid-19 in Rajasthan’s Jaipur on Sunday, according to the state health department. In Maharashtra’s Pune district, seven people, including three from Nigeria, were found to be infected with the new variant. Those infected include a 44-year-old woman and her two daughters, aged 18 and 12, who had come to visit her brother on November 24 in Pimpri-Chinchwad from Lagos, Nigeria. The 45-year-old brother and his two-and-a-half-year-old and seven-year-old daughters were also found to be infected with Omicron. Additionally, a 47-year-old man, who had recently travelled to Finland, also tested positive for…
(ET) Saudi Aramco said it will continue to look for investment opportunities in India, days after Reliance Industries Ltd. scrapped a plan to sell a stake in its oil-to-chemicals unit to the Middle Eastern company. “India offers tremendous growth opportunities over the long term,” Aramco said in a statement on Sunday. It will “continue to evaluate new and existing business opportunities with our potential partners.” Aramco had signed a non-binding letter of intent in August 2019 for a potential 20% stake in Reliance’s oil-to-chemicals unit valued at about $15 billion. Reliance said the companies would walk away from the deal…
(FE) The Delhi government has extended work from home for its employees and the ban on entry of trucks carrying non-essential items till November 26 to combat air pollution. It was still unclear if the order, issued by the environment department, the curbs on construction activity would continue. However, a senior official told PTI that the ban had been lifted. Schools and colleges will also remain shut according to the directions of the Commission for Air Quality Management, the official added. An official of the central government said the Commission for Air Quality Management would review the situation in Delhi on Tuesday. The Delhi…
(PTI) Debates on TV news channels are causing more pollution than anybody with statements made in the court being taken out of context, the Supreme Court . A bench headed by Chief Justice N V Ramana said everyone has their own agenda and statements are taken out of context in these debates. “You want to use some issue, make us observe and then make it controversial, and then only blame games will remain..,” observed the bench also comprising Justices D Y Chandrachud and Surya Kant.. Debates on TV are creating more pollution than anybody. They don’t understand what is happening and…