(FE) Finance minister Nirmala Sitharaman on exhorted corporate India to enhance its risk appetite and undertake expansion to supplement the government’s efforts to stimulate growth. The demand side of the Covid-hit economy is now able to “manifest itself”, she said at a CII event, indicating that the companies that ramp up capacity now will be able to cash in on the resurgence in consumption that was visible in the build-up to Diwali. In certain cases, supply bottlenecks weighed down consumption, she said, highlighting how demand and supply sides are closely interlinked in a real economy. For instance, car sales could…
Author: Aruna Sharma
To deal with the problem of rising air pollution in urban areas, Bharat Heavy Electricals Limited (BHEL) has indigenously designed and developed a prototype Air Pollution Control Tower (APCT). This APCT has been installed in Noida on a pilot basis by BHEL in association with the Noida Administration. With this initiative, BHEL is working hand in hand with the Noida Authority in the fight against pollution in this area for improving the health of local residents, office-goers and visitors. The APCT was inaugurated by Dr. Mahendra Nath Pandey, Hon’ble Union Minister of Heavy Industries in Noida in the presence of…
(ET) Union Transport Minister Nitin Gadkari stressed on the use of ethanol in vehicles as a cost effective and pollution-free substitute to other fuels, and said flex-fuel engines will be made mandatory in the coming days. The flex-fuel, or flexible fuel, is an alternative fuel made with a combination gasoline, methanol or ethanol. Speaking at an event of the Maharashtra State Cooperative Bank here, Gadkari mentioned a Russian technology through which the calorific value of petrol and ethanol can be equalised.
(AU) भारत में पिछले 24 घंटे में कोरोना के 12 हजार 516 नए केस मिले हैं, वहीं इस दौरान 501 लोगों की मौत हुई है। यह पिछले दिन हुई 340 मौतों के मुकाबले करीब 50 फीसदी ज्यादा है। इसी के साथ देश में कोरोना के कुल केसों की संख्या अब तक 3 करोड़ 38 लाख के पार जा चुकी है। वहीं, मृतकों की संख्या अब 4 लाख 62 हजार से ज्यादा है। हालांकि, इस बीच भारत के लिए दो बड़ी खुशखबरियां भी हैं। भारत में पिछले 24 घंटे में कोरोना के 12 हजार 516 नए केस मिले हैं, वहीं इस दौरान…
(ET) Prime Minister Narendra Modi is scheduled to launch two innovative customer-centric initiatives of the Reserve Bank of India (RBI) .As per the Prime Minister’s Office, PM Modi will launch the initiatives at 11 am on Friday through video conferencing. “These initiatives are the RBI Retail Direct Scheme and the Reserve Bank – Integrated Ombudsman Scheme,” PMO in a release said. Notably, the RBI Retail Direct Scheme is aimed at enhancing access to the government securities market for retail investors. It offers them a new avenue for directly investing in securities issued by the Government of India and the state governments.
(ET) India’s petroleum ministry has asked state-run explorer Oil and Natural Gas Corp to consider selling a 60% stake in its two major oil and gas fields to private companies to boost output, a government source said. India, the world’s third biggest oil consumer and importer, wants to quickly monetize its oil and gas reserves and has been asking asking ONGC for years to raise production. India’s dependence on foreign oil has gradually risen to more than 80% as its local oil and gas output has been stagnating for years amid rising local refining capacity.
(ET) Companies and retailers selling discretionary products such as apparel, electronics, liquor and cosmetics said they will increase prices by 8-10% to offset rising raw material and supply chain costs although it could impact demand for some products. Companies across grocery essentials, personal care products, packaged food, and dining had already raised prices and will make another round of hikes in the new year. The cost challenge comes at a time when retailers across segments breached the pre-pandemic sales mark during the festive season and are trying to sustain the momentum in the next few quarters.
(PTI) The finance ministry on Friday released revised guidelines on public procurement and project management which outline innovative rules for faster, efficient and transparent execution of projects. The guidelines also permit alternative methods for selection of contractors, which can improve speed and efficiency in execution of projects. In appropriate cases, quality parameters can be given weightage during evaluation of the proposal in a transparent and fair manner, through a Quality cum Cost Based Selection (QCBS) as an alternative to the traditional L1 system, the ministry said. Finance Secretary and Secretary Expenditure, T V Somanathan released the guidelines to usher in reforms…
(LiveMint) Petrol and diesel prices were hiked for the fourth consecutive day today after a two-day pause across the country. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels. Petrol now costs ₹108.99 a litre in Delhi and ₹114.81 in Mumbai. Diesel is now priced at ₹97.72 a litre in Delhi and ₹105.86 in Mumbai. As for Kolkata and Chennai, petrol and diesel cost ₹109.46 and ₹100.84 respectively in Kolkata and ₹105.74 and ₹101.92 respectively in Chennai. In Bengaluru, petrol is available at ₹112.79 per litre and diesel at ₹103.72 and in Hyderabad, one litre of petrol is…
(LiveMint) The Reserve Bank of India eased some of the requirements of its current account guidelines for banks issued last year, allowing them to open credit facilities for state-run companies without any restrictions. The development comes after RBI took into account the feedback received from Indian Banks’ Association (IBA) and other stakeholders. In August, RBI extended the deadline for implementing the new current account norms by three months till October end, following requests from banks. This extension came a year after the central bank introduced guidelines around current account opening to ensure credit discipline and check diversion of funds. According to…