(ET) Protesting against increased excise duty levied on petrol products in the state, petrol pump dealers across Punjab have gone for a strike on Wednesday by shutting down their pumps for business from 8 am to 5 pm. Diesel price in the state has hit Rs 73.23 a litre as of today while petrol rate has touched Rs 79.77 per unit. Speaking to ANI, Rajkumar a worker in a petrol pump in the state said, “Fuel prices are cheaper by at least Rs 5 in neighbouring Himachal Pradesh, Haryana and Chandigarh. It is only here in our Punjab that the prices are going through the roof because…
Author: Aruna Sharma
(PTI) State-run power giant NTPC on Wednesday said it will raise Rs 1,000 crore on July 31 through issuance of bonds on private placement basis for funding capital expenditure, refinancing existing loans, among others. “NTPC has decided to raise Rs 1,000 crore on July 31, 2020, through private placement of unsecured non-convertible bonds in the nature of debentures at a coupon of 6.29 per cent per annum with a door to door maturity of 10 years, 8 months and 11 days on April 11, 2031,” a regulatory filing said. The proceeds will be utilized for, inter alia, funding of capital expenditure, refinancing of…
Government-owned Power Finance Corporation (PFC), India’s leading NBFC, signed a MoA with Indian Institute of Technology- Kanpur (IIT-K) for Training, Research, and Entrepreneurship Development in Smart Grid Technology. Under the MoA, PFC will provide financial assistance of Rs. 2,38,97,000/- (Rupees Two Crore Thirty Eight Lakhs and Ninety Seven Thousand only) to IIT-K under its CSR initiative. Shri. R. Murahari, Executive Director (CSR&SD), PFC informed that the objective of the pact is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology. As part of project, IIT-K will also provide training on smart grid technology…
(LiveMint) Total COVID19 positive cases stand at 15,31,669 including 5,09,447 active cases, 9,88,029 cured/discharged/migrated and 34,193 deaths, the health ministry said. With 48,513 people testing positive for coronavirus in a day, India’s COVID-19 tally crossed 15 lakh mark today, while the recoveries jumped to 9,88,029. The country’s death toll rose to 34,193 with 768 fatalities being recorded in a day. The fatality from covid currently stands at 2.25% in India as compared to global average of about 4%. The recoveries on Tuesday is one of the highest ever recoveries in a single day. 35,339 COVID-19 patients were cured and discharged in…
(LiveMint) Prime Minister Narendra Modi will hold meeting with top bank, NBFC chiefs on Wednesday evening “to discuss and deliberate on vision and roadmap for the future,” Prime Minister’s Office said. At the meeting, to be held via video conference, Modi is likely to take stock of the state of the economy and credit flow during the pandemic. “The topics on agenda include credit products and efficient models for delivery, financial empowerment through technology, prudential practices for stability and sustainability of financial sector,” PMO said. “Banking sector plays an important role of contributing to India’s economic growth through financing infrastructure, agriculture,…
(Energy Infrapost) Petronet LNG Ltd (PLL) is betting big on the completion of gas pipelines to Mangaluru from its Kochi terminal to enhance its business volumes. The connectivity to Mangaluru is to be completed by the Gas Authority of India Ltd (GAIL) any time soon. This is expected to double PLL’s capacity utilisation to 40-45 per cent from the current 20 per cent, said Yogananada Reddy, Chief General Manager and Vice President, PLL, Kochi terminal. The ₹4,700-crore terminal in Kochi was languishing for a long time after its commissioning in 2013 and, it was last year, that the five-million tonne terminal…
(PTI) Union Minister Nitin Gadkari on Tuesday said the government is making efforts to attract FDI in infrastructure sector to address liquidity crunch faced by the COVID-19-hit economy. The Road Transport, Highways and MSME minister also said that talks are on with various pension funds, insurance funds and financial institutions. “Infrastructure is the most economically viable industry. The internal rate of return of projects is very good. “We are trying to get FDI (foreign direct investment) in Infrastructure as it is 100 per cent allowed. We are trying to bring Insurance Fund, Pension Fund etc, while talks are on with the World Bank, ADB… We are…
(ET) (ET) The eight-member committee formed by the National Green Tribunal has said that a “mismatch between planning and execution” on the part of Oil India Limited led to the well blowout in upper Assam’s Tinsukia district that has caused “extensive damage” to environment, flora, fauna and people residing near the site, reports Rokibuz Zaman. The panel — headed by former Gauhati high court judge Brojendra Prasad Katakey and formed on June 24 after OIL’s well No. 5 suffered a blowout — said, “Based on the preliminary assessment to date, the committee is of the unanimous opinion that the Well Baghjan-5 blowout and explosion was preventable.”
(LiveMint) The Centre has released ₹13,806 crore to states as their Goods and Services Tax (GST) compensation for March, said an official statement. With this, the Narendra Modi administration has paid the entire compensation to states for the last fiscal, the statement said. For FY20, the Centre paid ₹1,65,302 crore although the amount collected by way of a cess on items like tobacco and cars for raising revenue for compensation was only ₹95,444 crore, the statement said. The Centre also said that to meet the gap, the cess collected in FY18 and FY19 was also utilised. GST compensation has been a thorny issue between the central…
(ET) Indian Oil Corporation and Total on Monday announced the formation of a 50:50 Joint Venture (JV) company for manufacture of high-quality ‘Bitumen Derivatives’. The JVC will market high-quality bitumen derivatives and specialty products for the growing road-building industry in India. “IndianOil is the largest player in the Indian bitumen market, while Total is the leading bitumen manufacturer and supplier in Europe,” a joint statement said. “The two companies have already established a business relationship in India, notably in LPG and fuel additives.” As per the statement, the new JV will combine the R&D and marketing strengths of both IndianOil and Total to manufacture and market innovative bitumen…