BUSINESS
Flights to Leh likely to face disruption for another week amid heatwave conditions
Airports Authority of India and Ministry of Civil Aviation are in talks with domestic airlines to reduce Leh flight cancellations, with solutions like operating smaller planes to Leh and compensation for operating at a lower capacity being discussed.
BUSINESS
Concerns mount among rail users in the wake of another train accident
A Local Circles survey ound found that 42 percent of Indian railway travellers were unhappy with the safety features offered, while 59% said they were concerned about derailment and track maintenance.
BUSINESS
India's MRO industry seeks strategies to boost size and scale: Chairman & CEO, Aequs
The aerospace industry has been asking the government for a production-linked incentive (PLI) scheme to encourage companies to invest in R&D and build capabilities, along with tax breaks for aerospace R &D.
BUSINESS
Vistara launches voluntary retirement for its ground staff ahead of Air India merger
As part of the email, the Tata Group airline said that its permanent ground staff with over five years of work experience with the airline are eligible to be a part of the VRS scheme.
BUSINESS
VAT hike on jet fuel, increased airport fees creating inflationary environment: IndiGo
While Goa and Andhra Pradesh have increased VAT on jet fuel, around 13 major airports in India have increased the user development fees (UDF), a levy designed to bridge revenue shortfall and ensure fair returns for airports.
BUSINESS
IndiGo says Q2FY25 yields unlikely to fall on year despite falling consumer demand
InterGlobe Aviation's yield per passenger rose to Rs 5.24 in the June quarter from Rs 5.18 a year ago. However, its yield per passenger in Q2FY24 stood at Rs 4.44.
BUSINESS
IndiGo will damp lease 6 Boeing 737 MAX aircraft from Qatar Airways
As part of the agreement, Qatar Airways will be responsible for maintenance of the aircraft while cabin crew will be from IndiGo. The aircraft will be operated to flight between India and Qatar, the airline's management said.
BUSINESS
IndiGo Q1 results: Net profit falls 11.5% on-year to Rs 2,736 crore on higher fuel costs
Revenue from operations for IndiGo, the largest airline in the country, rose 17.3 percent to Rs 19,570 crore, from the year-ago period when the airline had reported a topline of Rs 16,683.1 crore.
BUSINESS
L&T to transition Power EPC business to carbon light from carbon forward
The CFO of the the engineering conglomerate also added that L&T has taken its learning from executing renewable energy projects in the Middle East and is now looking to implement the same in the Indian market.
BUSINESS
India losing skilled labor to infrastructure projects in Middle East: L&T CFO
Shankar Raman added that increasing salaries of laborers is not a big issue for large infrastructure companies.
BUSINESS
L&T sees prospective order pipeline of Rs 9 trillion in FY2024-25, says CFO
Around 60 percent of the prospective order pipeline of Rs 9 trillion will come from projects in India, the company's CFO said.
BUSINESS
Larsen & Toubro Q1 results: Here are the key highlights
L&T expects India's economic growth momentum to continue in the medium term facilitated by both public and private capital investment.
BUSINESS
L&T Q1 Results: Net profit jumps 12% to Rs 2,786 crore, slightly lower than street view
L&T Q1 results: Revenue from operations rose 15 percent to Rs 55,120 crore in Q1FY25
BUSINESS
At Rs 2.52 lakh cr, Budget 2024's allocation for Railways remains unchanged from interim Budget, rises 5% on year
Railway Minister Ashwini Vaishnav told reporters on July 23 that out of the total budget allocation Rs 1.08 lakh will be used to boost railway safety in 2024-25.
BUSINESS
Budget trims allocation to regional air connectivity scheme UDAN
In the budget for FY25, the government has earmarked Rs 502 crore for the scheme, down from Rs 1,244.07 crore (BE FY24) and a revised estimate of Rs 850 crore.
BUSINESS
Roads ministry allocation unchanged at Rs 2.78 lakh cr in Budget 2024-25 from interim Budget, up 3% on year
The ministry completed the construction of 12,349 km of national highways in 2023-24 after constructing 10,993 km of highways in FY23, according to officials from MoRTH.
BUSINESS
Budget proposes simpler tax regime for foreign cruise operators in India
The Bharatiya Janata Party (BJP) has promised to encourage the growth of the Indian maritime sector through legislative changes, according to its election manifesto for the 2024 Lok Sabha Elections.
BUSINESS
Railways mentioned only once, allocation maintained in 2024-25 Budget
Railway stocks like RVNL, IRFC, Ircon International, RailTel Corporation of India, and Texmaco Rail & Engineering fell around 1-5 percent after FM Sitharaman's Budget Speech concluded on July 23
BUSINESS
Policy boost for aircraft, ship MRO industry as Finance Minister extends re‐export window in Budget 2024
The ruling National Democratic Alliance, has in the past, expressed its aspiration to develop India as a manufacturing base for passenger aircraft, promising to revamp legislation and reduce compliance burden for small businesses and traders, including those related to the goods and services tax.
BUSINESS
Finance Minister Nirmala Sitharaman says investment by private sector in infrastructure will be promoted through VGF and enabling policies
The Economic Survey for 2023-24 tabled in Parliament on July 22 had also highlighted that the central government needs to come up with a new way to increase private sector financing in the infrastructure segment in India and also tap new avenues to mobilise resources.
BUSINESS
Govt says that land records in urban areas will be digitised with GIS mapping as part of Budget 2024-25
The Economic Survey for 2023-24 tabled in Parliament on July 22 had also highlighted that government still struggles with on-boarding of digital land record which leads to land acquisition delays while constructing national highways.
BUSINESS
Govt announces phase-IV of PMGSAY will be launched to provide all weather connectivity to 25,000 rural areas in Budget 2024-25
The Economic Survey for 2023-24 tabled in Parliament on July 22 said that a total of 8,29,409 km of road length has been sanctioned under Pradhan Mantri Gram Sadak Yojana (PMGSY) out of which, 7,63,308 km of road length has been completed as on 18 th June 2024 at an expenditure of Rs 3.23 lakh crore.
BUSINESS
FM extends 50-year interest-free loans to state governments in Budget 2024
The PM Gati Shakti Master plan, a pet project of Prime Minister Narendra Modi which found prominent mention in Sitharaman’s budget speech of 2022-23, involves holistic policymaking for the seven infrastructure sub-sectors, with one digital portal that can accessed by all stakeholders for real-time information.
BUSINESS
Finance Minister says govt will support road connectivity projects in Bihar at a total cost of Rs 26,000 crore in Budget for 2024-25
Sitharaman also said that new airports, medical facilities and sports infrastructure projects will also be setup in Bihar.
