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NEW DELHI: The National Democratic Alliance (NDA) government on Thursday approved an outlay of Rs 43,033 crore to fund an ambitious initiative to supply electricity through separate feeders for agricultural and rural domestic consumption, aimed at providing round-the-clock power to village households.   In addition, the cabinet also approved spending Rs 32,612 crore on an integrated power development initiative, which involves strengthening sub-transmission and distribution systems, according […]

New Delhi: India has signed a euro 13 million deal with Airbus Defence and Space for the delivery of a dedicated facility in the country for the maintenance and repair its submarine fleet periscopes. The project is due to be completed in September 2016.   “When a product is serviced, a lot of time is lost during the transport between different facilities. Once maintenance work can be […]

NEW DELHI: The government is working on big-ticket financial package for about 1,30,000-mw thermal and hydro power plants worth over Rs 6,00,000 crore that are hit by severe funds crunch while continuing to face cost and time overruns.   Officials said the Department of Financial Services will shortly recommend a series of steps to the Reserve Bank of India.   These include lenders providing additional debt to […]

By Ashok B Sharma If South Asia plans to consolidate and further integrate itself, it needs to learn much from the experiences of South-East Asian countries that are moving towards an ASEAN Economic Community hopefully by 2015. About 80 per cent of the spadework have been done for the process of integration, only 20 per cent of the efforts are needed. The ASEAN group was of course […]

NEW DELHI: Bids in the February 2015 spectrum auction are likely to skyrocket as the department of telecommunications (DoT) plans to auction just 800/900/1800 MHz spectrum bands, and not the vital 2100 MHz band spectrum that telcos were hoping for. Auctions for spectrum in the 2100 MHz band will take place only in May, and with no certainty about how much 2100 MHz spectrum would be available […]

Kolkata: The fear of bad loans and limited lending opportunities to top companies have prompted several banks to shift focus towards the retail (individual loans) and small & medium enterprises segments. India Inc’s reluctance to borrow money is keeping bankers worried. While lenders were able to stem fresh impairment in their credit quality in the July-September period, low demand for corporate loans has decelerated the growth in […]

KOLKATA: State-run NTPC, the country’s biggest power generator and thermal coal consumer, plans to acquire at least 26 per cent stake in coal mines abroad to secure longterm fuel supplies for all its power plants, a senior executive said.   This is a shift from the company’s earlier stance of seeking only minority stakes in such mines to ensure fuel for plants that operate only on imported […]

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NEW DELHI: With global energy firms refusing to participate in the ambitious TAPI gas pipeline, India may propose getting a Chinese company to lead a consortium that will build the USD 10 billion Turkmenistan-Afghanistan- Pakistan-India (TAPI) gas pipeline.   French giant Total SA had initially envisaged interest in leading a consortium of national oil companies of the four nations in the TAPI project, but backed off after […]

NEW DELHI: A few weeks before the Reserve Bank of India announces the monetary policy, Finance Minister Arun Jaitley has made his preferences clear in the raging debate over whether governor Raghuram Rajan should cut interest rates on December 2.   “Reduction in the cost of capital will give a good fillip to the Indian economy,” Jaitley said at the Citi Investor Forum, but added that the […]

From Pradeep Kapoor   LUCKNOW: Mission 2017 to capture power in Uttar Pradesh has prompted a major political move which is to play aggressive dalit card to woo member of scheduled castes and scheduled tribes who constitute more than 22 per cent of the total population.   Keeping the next assembly polls in mind, BSP supremo Mayawati also sent two dalits Raja Ra, and Veer Singh to […]

Brisbane: DRIVEN by a strong domestic political agenda of getting black money back home, Prime Minister Narendra Modi on Sunday managed to get the Group of 20 include a certain clause in the final Leaders’ Communique that will make it difficult for tax havens to give complete tax exemption to companies. This, along with the G-20’s endorsement of a global Common Reporting Standard for automatic exchange of […]

PANAJI: Defence Minister Manohar Parrikar is considering the introduction of a new policy on the vexed issue of blacklisting defence equipment suppliers accused of corruption as well as reforming rules for lobbyists to balance the needs of the armed forces with transparency.   Speaking to ET in the state capital at the chief minister’s residence, Parrikar said, “One of the ideas the government is thinking about is […]

By Ashok B Sharma   The annual feature, G 20 Summit, has turned out to be a mere talk shop. No substantial effort has been done at the multilateral level to salvage the global economy. Whatever efforts are been made, are at national level for generating more demand to keep up the growth pace of their economy.   But with the emergence of strong leadership in India, […]

By S Sethuraman   As the Modi Government completes its first six months with a record of hesitant, incremental moves on the economic front, growth recovery has at last become visible and looks to gain momentum to hit the targeted 5.5 per cent or slightly above, in fiscal ’15. Business sentiment is being bolstered by falling inflation and output modestly growing by 2.8 per cent in the […]

By Anjan Roy   China is riding the crest of its economic success currently. It has taken one more step to make its currency globally traded and thus acceptable. China has announced what is known as the Hong Kong-Shanghai Stocks Connect from November 17. This in effect means off shore trading in the Chinese currency for purchase of stocks in Hong Kong and Shanghai exchanges.   Earlier, […]

By S Sethuraman   A Free Trade Area of the Asia-Pacific (FTAAP), by no means a new concept, was successfully pushed by Chinese President Xi Jinping at the APEC Summit in Beijing on November 11, projecting it as ‘historic’, in a move aimed at countering US-dominant trade moves in the region.   The 21-member APEC, of Pacific rim nations, including the United States, China and Japan, now […]

By G. Srinivasan It is no doubt the flavor of the season to wrest the best benefits by domestic export constituencies with the new five-year Foreign Trade Policy for 2014-19 continuing to be work in progress even a few months past its due date of announcement. The National Democratic Alliance (NDA) led by the BJP can bolster India’s leather industry both for its export potentials in general […]

By Nantoo Banerjee   It is heartening to note that out of the world’s 2000 largest companies, figured in Forbes Global 2000, and their 3,30,000 subsidiaries worldwide characterizing their influence in the global market, as many as 30 are India’s much neglected and criticized State-owned enterprises (SOEs). India’s SOE numbers are only next to the People’s Republic of China’s. The People’s Republic of China had 70 of […]

By Ashok B Sharma In a situation where economies are seeking integration with neighbours in the form of institutional grouping, India has made attempts for engagement with the ASEAN bloc primarily for trade and integration of the economy, more particularly to derive benefit for its remote north-eastern region. But this has not been realised in full potential due to poor land route connectivity despite inking of free […]

NEW DELHI: Eyeing joint-production of military and civilian items with a foreign partner, India and Russia could clinch deals on co-production of mid-range civilian aircraft as well as military helicopters during President Vladimir Putin’s trip to Delhi on December 11-12.   During Putin’s maiden visit to Delhi for the annual summit after Modi became the Prime Minister the two sides might agree on joint production of the […]

India on Thursday achieved a major victory with the US agreeing to its proposal on food security issues at WTO, a development that will pave the way for a breakthrough to end the three-month long stalemate. The agreement comes two days ahead of the G-20 Summit in Australia, which will be attended by Prime Minister Narendra Modi and other world leaders including the US President Barack Obama. […]

Uh-oh, folks, this is starting to look serious. There really does appear to be a plot to remove Ed Miliband. One paper has reported that there are 20 shadow ministers who are “on the verge” of asking him to step down. Nameless Labour MPs have said that the rebellion against Ed has reached “critical mass” – and one has a vision of fuel rods starting to shudder […]

By Kalyani Shankar   The Congress split in Tamil Nadu spells trouble for the 129 year old Congress party.  Although the Congress high command has described it as a result of factional fight, there is more to it than meets the eye as it has far reaching impact on the state as well as national politics.   With the state assembly elections scheduled for 2016, political parties […]

NEW DELHI: Suresh Prabhu is set to play a key role in drafting policy on natural resources and infrastructure in the Narendra Modi government. The Shiv Sena member has been given an office in South Block, where the Prime Minister’s Office is located, and is expected to be given cabinet rank.   Prabhu is also expected to look after the organisation that will succeed the Planning Commission […]

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