BUSINESS
Parliamentary panel calls for DGCA intervention about airfares, recommends route-specific capping of airfares
The Parliamentary panel also proposed route-specific capping of airfares and setting up of a separate entity to exercise control over air ticket prices, amid concerns in various quarters about surging fares.
BUSINESS
MC Exclusive | Govt considering mandatory blending of sustainable aviation fuel in jet fuel: Hardeep Puri
India had planned to use 1 percent SAF for its domestic commercial flights by 2025, which would require around 140 million liters of SAF per year to achieve, Union Minister Hardeep Singh Puri said.
BUSINESS
MC Interview | TCI confident of double-digit growth in FY24 despite slow year: MD Agarwal
Managing director Vineet Agarwal told Moneycontrol that the logistics and supply chain solutions provider does not foresee any major impact from headwinds in India’s exports and e-commerce segments.
BUSINESS
MC Interview | RITES aims to win orders at the rate of one a day for the next few months: Rahul Mithal
MC Interview: In 2024-25 RITES aims to return its revenues and net profit to the 2022-23 level and then build from there. The first goal is to increase their topline to the 2022-23 level and come as close to the previous levels as possible.
BUSINESS
MC Interview | Private sector no more jittery, but being measured about capex: L&T CFO
The private sector has always been investing in industries like cement, steel, electronics, construction materials and automobiles. This will continue to be the case, although it may be more careful spending.
BUSINESS
L&T plans to increase its workforce by about 10% next year, says CFO R Shankar Raman
The engineering major is looking to expand its staff strength in West Asian countries, especially Saudi Arabia, where it has set up fabrication shops and is encouraging local engineering graduates to train with it
BUSINESS
Government has shown continuity in policy, confidence that it will return to power in Budget: L&T CFO
Shankar added he expects the government to improve on the Rs 11.11 lakh crore capex for the infrastructure segment once it returns to power.
BUSINESS
IndiGo has more than 70 aircraft grounded at the moment
The mid-70 aircraft on ground (AOG) include aircraft grounded due to supply chain issues and engine powder metal issues with its Pratt & Whitney aircraft engines.
BUSINESS
Waiting list 'jhamela' will be over with new train corridors: Rail Minister on Budget announcement
The new train corridors will be completed by 2030, Railway Minister Ashwini Vaishnav said.
BUSINESS
Union Budget: Govt keeps NHAI’s borrowings to a minimum for 3rd straight year
This was part of the government’s move to reduce the highway developer’s debt. NHAI’s debt stood at Rs 3.44 lakh crore at the end of January 2022, against Rs 24,188 crore in 2014-15, a 14-fold rise in less than seven years.
BUSINESS
IRFC to abstain from borrowing in form of debt during FY 2024-25, reveals Budget documents
The move to not borrow from the market comes in the backdrop of the central government increasing its Budgetary allocation to Indian Railways to Rs 2.52 lakh crore, which is 5 percent higher when compared to 2023-24.
BUSINESS
Regional air connectivity UDAN sees lower allocation in Interim Budget 2024-25
In the budget for the next financial year, the governmetn 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
Rail capex rises 5% to Rs 2.52 lakh cr for electrification, dedicated freight corridor: Budget 2024
The Railways Ministry's Internal and Extra Budgetary Resources (IEBR) have fallen to Rs 13,000 crore in 2024-25 from Rs 52,783 crore in 2023-24. IEBR includes funds raised through various financing sources, including funds raised through IRFC for capex deployment.
BUSINESS
Interim Budget hikes road ministry's allocation by 3% to Rs 2.78 lakh crore
The government had set a target of 13,000 km and 13,800 km of highway construction in FY2022-23 and FY2023-24, respectively, but the speed of construction was affected by unfavorable weather conditions and state elections in many states.
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
Budget proposes 3 major railway corridors, upgrading 40,000 trains to Vande Bharat status
Around 40,000 trains currently running as part of the Indian Railways will be upgraded to Vande Bharat train standards.
BUSINESS
MC Interview | KEC Intl eyeing more solar EPC projects as risk for contractors has reduced: CEO Vimal Kejriwal
The company expects to win around 25 percent of all Indian Railways tenders for Kavach systems; sees interim Budget giving thrust on capex for developing railway infrastructure.
BUSINESS
Capex for UDAN scheme likely to see 25% hike as part of 2024-25 Budget
The budgetary allocation of Rs 1,500 crore for 2024–25, if granted by the finance ministry, would be the highest-ever allocation for the UDAN scheme and would be more than twice the Rs 480 crore allocated under the scheme in 2019–20.
BUSINESS
FM may hike road ministry capex by 25% in Budget 2024-25
Budget 2024: The government is looking to continue keeping the National Highways Authority of India's market borrowings at a minimum in the next financial year, several government officials told Moneycontrol.
BUSINESS
Infra sector hopes govt spending to continue in Budget for 2024-25, increase in project allocations
So far, the private sector stayed away from investing in infrastructure and a revamp of the PPP model is needed to attract fresh investments and reduce burden on government spending, said Vinayak Chatterjee, founder-chairman of Feedback Infra
BUSINESS
L&T Q3 results: L&T will exceed FY24 revenue, order inflow guidance: CFO R Shankar
The engineering major expects its revenue to grow in the high teen percent and order intake growth at 20 percent in the current financial year.
BUSINESS
Two Years With Tata: Air India aspires to be a global airline with a desi dil
The airline has placed the biggest order for commercial aircraft even as it consolidates its position as one of the two dominant airlines in the country
BUSINESS
MC Exclusive: Tesla may skip India’s first global mobility expo; VinFast, BYD likely to attend: Sources
The expo could also see the return of EV maker Great Wall Motors to India, while American car manufacturer Ford, a company that had paused its sales and business about two years ago, is also likely to announce a comeback at the mega exhibition next month.
BUSINESS
MC Interview |Air India Express will have fleet of 180 aircraft by end of 2028: CEO Aloke Singh
Air India Express will take delivery of three new aircraft every month and one additional aircraft every other month in 2024, Singh tells Moneycontrol.
