11844 stories by IPA Staff
Mukul Roy sworn in as Railways Minister
New Delhi: Trinamool Congress leader Mukul Roy is the new Railways Minister. He was sworn in at the Rashtrapati Bhawan on Tuesday morning; he replaces party colleague Dinesh Trivedi who resigned on Sunday. It was mission accomplished for Trinamool Congress chief Mamata Banerjee. Mukul Roy, who was the Minister...
India Inc Feels Tremors Of Finance Minister's Tax Proposals
MUMBAI: The unbridled freedom and powers given to tax authorities in this year’s Budget could spark a furious face-off in the coming months between companies determined to protect their profits in a slowing economy and an equally resolute tax department eager to wrest every last bit of revenue, experts...
India Drives World Arms Trade
India’s spending on imported weapons was behind a 24% growth in the global arms trade over the last five years, a Sweden-based think tank says. Statistics published yesterday by the Stockholm International Peace Research Institute show demand from emerging economies – in particular India – drove the volume of...
DRDO Requests For More Funds
NEW DELHI: The chief of the Defence Research and Development Organisation (DRDO) complained to Defence Minister A K Antony today that the ministry had not allocated enough funds for research and development, given the number of weapon development projects on the anvil. Speaking at a DRDO conference in New...
Embraer Partners With Air Works For Support Services
HYDERABAD: Embraer, the Brazilian major, has signed a memorandum of understanding with Air Works to create a spare parts repository for all its executive jets in India. This MoU paves the way for parts of Embraer’s jets to be housed in Bangalore, which will serve as the central hub...
Remos Light Sports Aircraft Set To Enter India
CHENNAI/HYDERABAD: Remos Aircraft GmbH, a Germany-based company that manufactures high-tech components for the aviation industry and builds light sports aircraft (LSA), is all set to hover over the Indian skies. “We are in the process of obtaining certification for our Remos GX glass cockpit LSAs from the Directorate General...
India Displaces China As World's Largest Arms Importer
NEW DELHI: Thanks to its aggressive shopping in international arms bazaars and very limited indigenous supplies, India was the world’s largest arms importer between 2007 and 2011, according to the latest data from the Stockholm International Peace Research Institute (SIPRI). India accounted for 10% of global arms imports in...
Air Works Eyes Rs 300 Crore Revenues Next Fiscal
CHENNAI/HYDERABAD: Air Works India Engineering, an independent aircraft maintenance, repair and overhaul (MRO) company, is targeting revenues of Rs 300 crore during the next financial year. “We are likely to close the current fiscal with Rs 260 crore revenues, and expect to reach Rs 300 crore by the next...
Agni-5 To Be Test-Fired Next Month: DRDO Chief
NEW DELHI: India will soon enter the elite club of nations having the Inter-Continental Ballistic Missile ( ICBM) capability with the Agni-5 getting ready for its first test launch next month. “The first flight of the Agni-V missile is likely to take place next month,” DRDO Chief V K...
India To Induct New Combat Jets From 2016
NEW DELHI: Come 2016 and India will start inducting the first of the 126 combat jets it is purchasing for nearly $20 billion, parliament was informed Monday. The first squadron of the medium multi-role combat aircraft (MMRCA) will comprise 18 Rafale aircraft that will be purchased in a fly-away...
Defence Spending Up: Modernisation Gets A Fair Share
India’s defence budget for 2012-13 at Rs 1.93 lakh crore (about $40 billion), although high in monetary terms, is in keeping with plans to modernise the country’s armed forces. A major portion (Rs 1.08 lakh crore), however, is for revenue expenditure. The critical component of the defence budget is...
New Surface-To-Air Missile Hub To Be Set Up In Andhra
A Rs 30,000 crore surface-to-air missile unit is going to be built by Bharat Dynamics Ltd (BDL) in Andhra Pradesh’s Rangareddy district. Chief minister N Kiran Kumar Reddy on Sunday laid the foundation stone for the project on Sunday, media reports said. The project is expected to be up...
Scorpene Submarines Delayed By Three Years: Antony
NEW DELHI: India will induct the six Scorpene submarines that it is building at the Mumbai-based Mazagon Docks Limited (MDL) only beginning 2015, a full three years behind the original schedule despite a hike in the project’s cost, parliament was informed on Monday. All the six submarines will be...
IAF Lost 33 Fighter Aircraft In Mishaps Since 2008: Govt
NEW DELHI: The Indian Air Force has lost 33 fighter aircraft, including three Sukhoi-30MKI, in mishaps since 2008 and 26 defence personnel were killed in these crashes, the Lok Sabha was informed today. “During last three years-2008-2011, and current year up to March, 33 fighter aircraft including one Jaguar,...
ONGC Set To Take Rs 5,000-Crore Hit On Crude Oil Cess
MUMBAI: State-run Oil and Natural Gas Corporation (ONGC) will be among the biggest losers from the budget proposals as the company, already hit by forced discounts it has to offer refiners, will take a hit of up to Rs 5,000 crore from the finance minister’s proposal to raise the...
Karnataka Govt Talks To HPCL, GAIL To Supply Gas
MUMBAI: The Karnataka government is in talks with Indian and international energy companies to arrange gas for three power plants for which it is planning to seek bids. Currently, it is in talks with GAIL India and Hindustan Petroleum Corporation Ltd (HPCL) to procure about 26 mmscmd for a...
Crude Cess To Eat Into Profitability Of Oil Companies
Lower Subsidy Share Of Upstream Companies May Offset The Negative MUMBAI: A good Budget’s rating typically depends on how uniformly it makes people unhappy. Finance Minister Pranab Mukherjee has achieved this feat. Just weeks before the FM presented the Budget, shares of Cairn, ONGC and Oil India Limited (OIL)...
Gujarat Plans LNG Terminal At Pipavav Port
NEW DELHI: Gujarat plans to set up its fourth liquefied natural gas (LNG) terminal at the Pipavav port soon besides commissioning the 5-MT capacity greenfield LNG terminal at Mundra by 2015-16, the state’s principal secretary for energy, DJ Pandian, said. “We want one more LNG terminal at Pipavav port,...
