BUSINESS
Cabinet to approve Diwali bonus equal to 78 days' wages for railway staff: Sources
In 2019-20, the Indian Railways had given its nearly 11.58 lakh non-gazetted employees a bonus of 78 days amounting to a total of Rs 2,081.68 crore.
BUSINESS
A timeline of Air India's privatisation from 2000 to 2021
The current move to sell Air India is the Indian government's third such attempt to privatise the airline since 2000.
BUSINESS
Air India pilots’ and officials’ concerns to be addressed to prevent sale delays
The government doesn’t want any legal hitches to hinder the sale of the national carrier, which is said to be in the closing stages.
BUSINESS
Government representative on Air India board to handle day to day operations: Sources
Senior officials in the Civil Aviation Ministry and Air India told Moneycontrol that S K Mishra the government-appointed director on the board of the airline will take over everyday operations until the government takes a decision about the privatization of the national carrier.
BUSINESS
Tata Group may take up upto 15% of Air India's debt: Sources
While the sources did not mention the conditions under which the Tata group may be willing to acquire up to 15 percent of Air India's debt, they did mention that it is a big part of the discussions between the government and the Tata Group.
BUSINESS
Air India sale: Govt officials meet Tata Sons, Ajay Singh for the second day in a row
On September 30, government officials met the two bidders of Air India for a second consecutive day to discuss the divestment of the airline. Officials from the Ministry of Civil Aviation, Department of Investment and Public Asset Management, and the Directorate General of Civil Aviation met with officials from the Tata Group and Spicejet Chairman Ajay Singh.
BUSINESS
Reporter's Diary | Srinagar, Sonamarg brace for another bleak winter as tourism takes a hit
The people of Srinagar and Sonamarg relied heavily on tourists, especially overseas visitors, for their livelihood. A Reporter’s Dairy on how the pandemic continues to affect tourism in these two towns of Jammu & Kashmir.
BUSINESS
Zojila Tunnel Project will be completed by December 2023, earlier deadline 2026: Nitin Gadkari
The minister today visited the Zojila in theUnion Terriotary of Jammu & Kashmir and directed the authorities of Megha Engineering and Infrastructures, the company involved in the construction of the tunnel, to complete the tunnel before the 2024 parliamentary election.
BUSINESS
Strategic Z-Morh and Zojila tunnels in Kashmir to be completed ahead of schedule say NHIDCL officials
While the 6.5-km Z-Morh tunnel is expected to be completed by next year, ahead of the target date of December 2023, the 14.15 km Zojila tunnel is also scheduled to be completed ahead of the target date of 2026, NHIDCL officials said.
BUSINESS
New drone policy will augment vertical aviation, urban air mobility: BLADE India
Karanpal Singh, founder of one of largest helicopter operators in India, says vertical aviation is designed to fulfil the short-haul need, which is basically converting a drive of 2-5 hours into 15-20 minutes’ flight. The company, he says, has seen a 65 percent repeat rate in the business.
BUSINESS
COVID-19 didn’t hit Railways business hard, more orders expected: Texmaco Rail deputy MD Ashish Gupta
There will be a lot more opportunities to produce rolling stock, both coaches and locomotives, with the entry of private players in the market, Gupta says.
BUSINESS
Interview| Logistics poised for growth, says Gateway Distriparks CMD Prem Kishan Gupta
The company is confident that its topline, bottomline, and margins in FY22 will be better than the previous fiscal, and that the logistic sector is prepared to deal with the potential third wave of the pandemic, Gupta told Moneycontrol.
BUSINESS
A full recovery in international travel may take years: Booking.com’s Ritu Mehrotra
While international travel is expected to begin a gradual recovery in the coming quarters, domestic travel, especially to drivable leisure destinations, is picking up, says Ritu Mehrotra, Booking.com’s South Asia manager.
BUSINESS
PLI scheme for automobile sector | How will it benefit the domestic industry?
Auto-component makers must have a minimum revenue of Rs 500 crore and Rs 150 crore fixed assets investment to be eligible for the PLI.
BUSINESS
Cabinet clears Rs 26,058-crore PLI scheme for auto and drones sector
The government has set aside Rs 25,938 crore to encourage domestic production of electric and hydrogen fuel vehicles and Rs 120 crore for making drones.
BUSINESS
Will Indian Railways be held up to global punctuality standards after SC ruling?
Market experts and analysts expect the SC’s decision to help lift Indian Railways's on-time performance and punctuality standards.
BUSINESS
Indian Railways plans to resume scheduled trains as COVID threat ebbs
Scheduled passenger trains will first be resumed in states where demand is the highest, including Kerala, Uttar Pradesh, Karnataka, Maharashtra, and Tamil Nadu, a railways official said.
BUSINESS
Air travellers in pre-COVID mode as pandemic fears ebb; industry seeks end of govt curbs
Industry experts and airline executives say the government should ease curbs on pricing and capacity utilisation to align its approach with market realities.
ECONOMY
Macro data signal worst may be over for most sectors
The third wave of the pandemic remains an X factor for India’s economy, although some see the pace of vaccination as an encouraging trend. If there are no major changes in Covid-19 infection numbers in the short term, most sectors of the economy are set to recover firmly.
BUSINESS
Interview | Govt should consider re-opening borders for fully vaccinated people: Ixigo CEO Aloke Bajpai
A health passport or protocols that can be uniform across all countries are two of his suggestions. Bajpai says as the vaccination rate improves, the tourism industry can see full recovery by next year.
BUSINESS
Interview| India’s drone market can grow to Rs 50,000 crore in 5 years, says Drone Federation of India chief Smit Shah
India replaced drone rules that were considered restrictive with a more liberalised set of norms last month, noting the potential of the country becoming a global drone hub by 2030.
BUSINESS
100% Made in India electric vehicles a long distance away: Industry
Dependence on China will continue and it will take years to realise the government’s goal of having electric vehicles manufactured entirely in India, say executives.
BUSINESS
Q1 GDP: India’s Gross Fixed Capital Formation rate rises in April-June backed by govt’s push on capex
India's GFCF, the second-largest component of gross domestic product (GDP) made up xx percent of India's GDP in the April-June quarter of 2021-22, compared to 24.4 percent in the previous year and 34.6 percent in the first quarter of 2019-20.
BUSINESS
Q1 GDP: Agriculture continues to remain strong during the pandemic, latest GDP figures show
The gross value added (GVA) by agriculture has grown 4.5 percent in Apr-Jun FY22 when compared to FY21. In Apr-Jun FY21 the sector had reported a growth of 3.4 percent on-year.
