Economics

‘Bharti Airtel hopeful of balanced approach on AGR’

Telecom major seeks formulation of a ‘constructive mechanism in the best interest of all parties ‘ Bharti Airtel on Wednesday expressed hope that the government would take a ‘balanced approach’ on the issue of adjusted gross revenue (AGR) to ensure long-term viability of the industry. The statement comes a day …

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Slowdown temporary, reforms will reverse trend: Mukesh

Industrialist Mukesh Ambani on Tuesday said the slowdown in the Indian economy was temporary and the recent measures taken by the government would help reverse the trend in the coming quarters. Speaking at Saudi Arabia’s annual investment forum, also known as ‘Davos in the desert’, he said the reforms undertaken …

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Govt. to work on relief package for telcos

Industry stares at over Rs. 1.4 lakh-crore payout to exchequer The government has constituted a Committee of Secretaries (CoS), headed by Cabinet Secretary Rajiv Gauba, to work out a relief package for the telecom sector, a move that may help mitigate the impact of the more than Rs. 1.4 lakh …

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Automobile sales witness Diwali boom

The festive season has brought some relief to automakers, with passenger vehicle makers witnessing up to a 50% jump in retail sales during the Diwali period — driven mainly by high discounts — as compared to the festive season last year. Even though this growth comes on a low base …

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‘Deep discounts by e-com firms hitting GST revenue’

The Confederation of All India Traders (CAIT) has written to Finance Minister Nirmala Sitharaman alleging loss of GST revenue to the government due to deep discounting by e-commerce firms, particularly Amazon and Flipkart. Seeking investigation into the business model of both the players, CAIT said e-commerce companies sell goods much …

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Domestic air traffic growth at 1% in Sept.

Domestic aviation traffic grew at a measly rate of 1.18% in September as compared to the year ago period, according to the monthly data released by the Directorate General of Civil Aviation (DGCA). Airlines altogether flew 1.15 crore passengers last month as compared to 1.13 crore during the same period …

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IL&FS completes sale of wind energy arm to Orix

Infrastructure Leasing and Financial Services (IL&FS), has completed its first asset sale plan, selling 51% stake in its wind energy arm to Orix Corporation. “The IL&FS Group has completed the sale process of its 51% stake, held through IL&FS Wind Energy Limited (IWEL) in seven operating wind power SPVs (with …

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Karnataka most innovative State, says NITI Aayog

Karnataka has been ranked as the most innovative State in the NITI Aayog’s India Innovation Index 2019, released on Thursday. Tamil Nadu, Maharashtra, Telangana, Haryana, Kerala, Uttar Pradesh, West Bengal, Gujarat and Andhra Pradesh follow in the rankings of the 10 major States, in that order. “The study examines the …

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India ranks 102 in hunger index

India is ranked 102 of 117 countries in the Global Hunger Index 2019, behind its neighbours Nepal, Pakistan and Bangladesh. The report, prepared jointly by Irish aid agency Concern Worldwide and German organisation Welt Hunger Hilfe termed the level of hunger in India “serious”. In 2018, India was ranked 103 …

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Spotlight shines on Rangdum monastery

Centre explores opportunities for expansion of tourism in Ladakh A Buddhist monastery in Ladakh in Kargil district could soon be given Central protection as the Archaeological Survey of India on Tuesday invited objections or suggestions on declaring the Rangdum monastery a monument of national importance. Last month, Tourism and Culture …

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