Business

  • IL&FS receives Rs 693 cr settlement claim for 2 road projects
    Mumbai, April 4 (IANS): IL&FS has received Rs 693 crore worth of settlement claims for two road projects from the National Highways Authority of India (NHAI). With the latest development, NHAI and MoRTH have settled aggregate IL&FS claims of over Rs 1,804 crore across 6 road projects. In a statement, IL&FS said that its subsidiary IL&FS Transportation Networks India Limited (ITNL), on March 31, 2021, duly received settlement amount of Rs 673 crore for Kiratpur Ner
  • Govt sanctions over Rs 25K cr under 'Stand-Up India'
    New Delhi, April 4 (IANS): Centre has sanctioned an amount of Rs 25,586 crore under the 'Stand-Up India' scheme to over 1.14 lakh accounts up to March 23 since the inception of the scheme. A total of Rs 3,335.87 crore has been sanctioned for 16,258 borrowers from the Scheduled Castes category under the schemed, followed by Rs 1,049.72 crore for the 4,970 borrowers in the Scheduled Tribes category, said an official statement. Similarly, the government has sanctioned an amo
  • Fuel prices unchanged for 5th straight day
    New Delhi, April 4 (IANS): Oil marketing companies have kept petrol and diesel prices unchanged for the fifth straight day. In the national capital, petrol was sold for Rs 90.56 per litre on Sunday. Price of the fuel in the other key cities of Mumbai, Chennai and Kolkata were at Rs 96.98, Rs 92.58 and Rs 90.77 per litre, respectively, all unchanged from the previous levels. Diesel prices in Delhi, Mumbai, Kolkata and Chennai were unchanged at Rs 80.87, Rs 87.96, Rs 85.88 and R
  • Yes Bank targets startup sector, ties-up with GVFL
    Mumbai, April 3 (IANS): To broaden its services for the start-up sector, the lender Yes Bank has tied-up with GVFL Limited. Accordingly, the two companies have entered into a Memorandum of Understanding (MoU) to strengthen Fintech-led innovation and support the growth of the Indian startup ecosystem. "The MoU will enable the bank to offer various products, digital banking solutions, and many other facilities that will benefit the startups associated with GVFL Limited,"
  • Polluting coal to remain predominant fuel in India's energy basket
    New Delhi, April 3 (IANS): Even as the country pushes for its expansion of the renewable energy projects, coal is set to remain as the predominant fuel in India's energy mix in foreseeable future. As per the 19th Electric Power Survey, out of the all India power generation installed capacity of 6,19,066 MW by the end of 2026-27, coal based projects would have a high 40 per cent share at around 2,38,150 MW. However, this level of environmentally polluting coal-based capacity i
  • Petrol, diesel prices revision unchanged for 4th consecutive day
    New Delhi, April 3 (IANS): Oil marketing companies on Saturday continued on the pause mode and decided against revising the petrol and diesel after cutting its retail rates on Tuesday. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively in the capital. Petrol and diesel fell by 22 paisa and 23 paisa per litre respectively on Tuesday in the wake global softening of oil prices. OMC have decide to pause price rev
  • Govt allows further operational flexibility to GST filers
    New Delhi, April 3 (IANS): The government has allowed further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme of GST. These tax filers will now be permitted to declare invoices pertaining to movement of goods and services in their quarterly return form GSTR 1 to be filed in the last month of each quarter. As per an advisory issued by the Goods and Services Tax Network (GSTN), the taxpayer must ensure that any saved
  • Petrol, diesel prices revision goes on a pause for 3rd consecutive day
    New Delhi, April 2 (IANS) Oil marketing companies on Friday continued on the pause mode and decided against revising petrol and diesel after cutting its retail rates on Tuesday. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively in the capital. Petrol and diesel fell by 22 paisa and 23 paisa per litre respectively on Tuesday in wake global softening of oil prices. OMC have decide to pause price revision as cr
  • Emissions from auto LPG vehicles much lower than BS-VI grade petrol: Study
    New Delhi, April 2 (IANS) Even as the country looks at electric vehicles to provide pollution free transportation options, a study has suggested that auto LPG can be a better and cleaner fuel option than regularly used petrol and diesel. Tailpipe emissions from Auto LPG have been found to be significantly lesser than even BS-VI compliant petrol vehicles, according to the results of the latest emission tests conducted by Indian Auto LPG Coalition. The tests validate Auto LPG as on
  • Airtel commissions solar power plant for its UP data centres
    New Delhi, April 2 (IANS) Bharti Airtel has commissioned a 14 MWp captive solar power plant to meet the energy requirements of its data centres in Uttar Pradesh. The facility in Tilhar (Shahjahanpur) is the first of the two solar plants being set up by Airtel in partnership with AMP Energy. The second plant at Begampur, is expected to become operational in the next quarter, said a company statement. "This will provide a major boost to Airtel's initiatives to reduce its c
  • Base effect: Maruti Suzuki's March sales up over 99%
    NEW DELHI, APRIL 1 (IANS): Base effect accelerated the sales growth of automobile major Maruti Suzuki in March 2021. Accordingly, the company on Thursday reported a growth of 99.31 per cent in its overall sales during March 2021 on a year-on-year basis. The firm sold 167,014 units of vehicles last month, against 83,792 units sold in March 2020. On a sequential basis, the company sold 164,469 units of vehicles in February 2021. "Maruti Suzuki India Limited posted total
  • Mahindra & Mahindra sells 40,403 vehicles in March
    NEW DELHI, APRIL 1 (IANS): Mahindra & Mahindra sold a total of 40,403 units of its vehicles last month both in the domestic and the international markets. On YoY basis, the sales numbers are multiple times higher than the 6,679 units sold in the pandemic-struck March last year, when India was moving towards a lockdown and Covid-19 cases surged rapidly. The statement noted: "The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the on
  • March GST collection surges to over Rs 1.23 lakh Cr
    NEW DELHI, APRIL 1 (IANS): India's gross GST revenue collection reached a new record high of over Rs 1.23 lakh crore in March 2021. Accordingly, the GST revenues during March 2021 are the highest since the introduction of the tax. "In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 are 27 per cent higher than the GST revenues in the same month last year," the Finance Ministry said in a statement.
  • Govt extends deadline for PAN-Aadhaar linkage till June 30
    New Delhi, Mar 31 (PTI): The government on Wednesday extended the deadline for linking PAN with Aadhaar by three months till June 30. The income tax department said it has received representations from taxpayers that the last date for intimating the Aadhaar number may further be extended in the wake of the on-going COVID-19 pandemic. Keeping in view the difficulties faced by the taxpayers, the Central Government has issued notification today extending the last date for the intima
  • Bengaluru cab driver self-immolates over rising fuel costs
    Bengaluru, March 31 (IANS): A taxi driver succumbed to severe burn injuries after he attempted to self-immolate inside his cab at Kempegowda International Airport (KIA) allegedly over his dwindling income due to drastic increase in fuel prices over the last one year. According to the police, the deceased, Pratap Gowda, 35, from Ramanagara bordering district of the Karnataka capital set himself ablaze on Tuesday midnight. The police said that he had sustained over 70 per cent burn
  • TVS Motor shipped out 1L two-wheelers in March
    Chennai, March 31 (IANS): Two- and three-wheeler maker TVS Motor Company Ltd on Wednesday said its two-wheeler exports clocked 1,00,000 units in March 2021. "It is a momentous occasion for TVS Motor as our international two-wheeler business achieved a sales milestone of 100,000 units in March," Sudarshan Venu, Joint Managing Director, TVS Motor Company was quoted a saying in a statement. TVS Motor also said the UK based Norton Motorcycles is currently finalising the con
  • Huawei logs $136 bn sales in 2020 despite US sanctions
    Shenzhen (China), March 31 (IANS): Despite operational difficulties brought about by US sanctions, Chinese conglomerate Huawei's sales in 2020 reached 891.4 billion yuan ($136 billion), up 3.8 per cent year-on-year, and its net profit reached 64.6 billion yuan ($9.86 billion), up 3.2 per cent (on-year). Nearly 66 per cent of Huawei's revenue came from China, up from 59 per cent the previous year. However, revenue from the Americas plunged 24.5 per cent amid the sanctions.
  • India's Apr-Feb fiscal deficit reaches 76% of revised estimate
    New Delhi, March 31 (IANS): India's budgetary fiscal deficit for the April-February 2020-21 period stood at Rs 14.05 lakh crore, or 76 per cent of the revised estimates (RE). The 2020-21 deficit -- the difference between revenue and expenditure -- had been enhanced to Rs 18.48 lakh crore, as compared to the earlier target of Rs 7.96 lakh crore for the last fiscal. As per the Controller General of Accounts (CGA) data released on Wednesday, the fiscal deficit during the corresp
  • DGCA wants 'spot fines' on those violating Covid protocols
    New Delhi, March 30 (IANS): India's civil aviation regulator has advised airport operators to take punitive action by imposing 'spot fines' against passengers violating Covid-19 safety protocols. In a circular issued on Tuesday, the Directorate General of Civil Aviation (DGCA) said: "The possibility of taking punitive action, such as levy of spot fines in accordance with law, shall also be explored with the local police authorities so as to serve a deterrent for vio
  • Covid surge casts shadow on mango business in UP
    Lucknow, March 30 (IANS): The fear of Covid has started casting a shadow on the mango growers in Malihabad who fear that restrictions may affect business for the second consecutive year. Last year, mango trade was adversely affected due to lockdown which prevented transportation and exports of the fruit. Business was hit further due to unavailability of labour and pesticides. "We had a bad business year in 2020 and now when the mango season is approaching, the fear of Covid