The government has reimposed windfall tax on domestically produced crude oil with an impost of Rs 6,400 per tonne effective Wednesday, and scrapped the levy on diesel exports.
Category: The Financial Express
The Financial Express
Delhi to have 70,000 more street lights with sensors, timers! All you need to know
Urban Development Minister of Delhi Saurabh Bharadwaj has approved the installation of an additional 70,000 street lights in the city, news agency PTI reported. This approval is in addition to the 2.1 lakh street lights that the Aam Aadmi Party (AAP) government had earlier planned to install in Delhi. The decision was made under the […]
PM Gati Shakti initiative evaluates key infra projects worth over Rs 5 lakh crore in last 1 year – Details inside
In the past year, 76 key infrastructure projects worth approximately Rs 5.14 lakh crore from various ministries have been evaluated under the PM Gati Shakti initiative, news agency PTI quoted senior officials as saying. This initiative, which was launched in October 2021, aims to develop an integrated infrastructure system to reduce logistical costs. All logistics […]
Go First faces severe turbulence as rivals aim to fly high
Go First, the Wadia group-promoted low-cost airline, is facing its toughest challenge at a time when it peers are readying to flex their muscles to make the most of the surge in demand for air travel. The reasons: funds crunch, dwindling market share and worsening flight punctuality.
‘India needs to add 80 wide-body aircraft by decade end’
Indian aircraft fleet needs to add 80 wide-body planes to take its total fleet size to 200 by 2025-30, according to GE Aviation’s country head for South Asia and Indonesia, Vikram Rai. Rai told Fe that by the end of the decade the requirement of wide-body aircraft in India would be 200. Of this, at […]
Adani Group’s debt pile up by 21% over past year, reliance on global banks for funding rose too
Adani Group’s pile of debt increased almost 21% over the past year and the proportion held by global banks rose to nearly a third, according to data seen by Bloomberg that offers an up-to-date snapshot of its financial health. Information gleaned from people familiar with the conglomerate’s inner workings as well as from presentations to […]
No undue advantage given to Alstom in rolling stocks deal in 2010: CMRL
Chennai Metro Rail (CMRL) on Saturday said allegations that undue advantage was provided to France-based Alstom Transport during the procurement of rolling stock way back in 2010 for Phase I project are totally false and factually incorrect. Fair process was followed, which resulted in CMRL saving hundreds of crores to the public exchequer, the company […]
Power consumption grows 9.5 per cent to 1,503 billion units in 2022-23: Govt data
Power consumption grew 9.5 per cent to 1,503.65 billion units year-on-year in 2022-23, mainly due to higher demand amid a rise in economic activities, showed government data. Power consumption was 1,374.02 billion units (BU) in 2021-22, according to power supply data from the Central Electricity Authority (CEA). Similarly, the peak power demand or highest supply […]
NTPC eyes 10GW coal-based brownfield expansion
India’s largest power producer NTPC Ltd is planning to expand the power generation capacities of eight of its coal-based power plants by more than 10 giga watt (GW) even as it has set an ambitious target for producing higher share of renewable energy. This will require investments to the tune of Rs 35,000-40,000 crore.
In a first, states release over 100% of subsidies to discoms
For the first time, the state governments disbursed more than 100% of the annual subsidy dues to power distribution companies (discoms) in the fiscal year 2021-22, in sign that the Centre’s coercive tactics, aimed at enforcing discipline among a few states prone to populism, are yielding results.
Kolkata Metro to complete construction work on full length East-West metro corridor by year-end – All details here
Good news for metro rail commuters! Kolkata Metro is likely to complete the construction work on the whole length of the East-West metro railway corridor by the year-end. The move comes after a senior railway board official inspected the Howrah Maidan to Sealdah stretch of East-West metro. On Sunday, Roop N Sunkar, Member Infrastructure, Railway […]
Fresh tussle between Delhi govt and LG office over power subsidy
Delhi Power Minister Atishi said power subsidy to nearly 46 lakh people in the city will cease from Friday onwards as Lieutenant Governor V K Saxena is yet to clear the file to extend the subsidy to consumers. However, the Lt Governor’s office said the power subsidy extension for the year 2023-24 has been approved […]