Finance minister Pranab Mukherjee has got enough indicators to deliver a ‘tough’ budget. The economic survey tabled in the Parliament today and the Reserve Bank ofIndiacredit policy announced earlier cry out for a fiscal consolidation. A tough budget means raising tax revenue and cutting on government expenditure. A slow...
By Kalyani Shankar The idea of an alternate Front often surfaces just before or after the polls. The fact that such a front consisting of left and some regional parties ruled the country more than once gives the hope for the Third Front strategists who are waiting for another...
by Nora Chopra The Congress will be open to taking support from the left both in getting its MP elected to Rajya Sabha fromWest Bengalas well as in the election of the President if Mamata does not collaborate. West Bengal Assembly can elect five Rajya Sabha MPs out of...
NEW DELHI: Thomas Cook had received at least eight proposals from potential buyers, the travel company said on Wednesday, as it closed bids for the sale of its Indiabusiness. Several private equity and global investment firms, including Kohlberg Kravis Roberts (KKR), Carlyle Group, Everstone Capital, T A Associates, and...
MUMBAI: Banks receiving capital support from the government will have to think twice before putting money in non-core businesses. This is a condition that has been laid down by the finance ministry which, however, has not spelt out the activities that can be described as non-core. This was indicated...
NEW DELHI: To meet fuel supply commitments to the power sector, the government today said CIL might divert a portion of the coal meant for e-auction to power plants. “… Coal India Ltd (CIL) may reduce coal meant for e- auction from 10 to 7 per cent of its...
NEW DELHI: China’s thermal coal imports could soar to one billion tonnes in 2030 from just 175 million in 2011 , while India’s imports will be at least 400 million tonnes in that same year, five times last year’s levels, research consultants Wood Mackenzie said. Imports will rise as...
NEW DELHI: The government today said it has decided to issue show-cause notices for deallocation to allocatees of 58 coal blocks for sitting idle on captive mines. The decision was taken by a review panel headed by Coal Additional Secretary Zohra Chatterji. “The committee has given its recommendations and...
MUMBAI: Indian wind turbine major Suzlon Energy refuted media reports that French engineering conglomerate Alstom SA is evaluating a potential offer to acquire its subsidiary REpower Systems, saying it was “entirely speculative”. Shares of Suzlon Energy soared 5% to an intra-day high of Rs 30.75 on a report in...
CHENNAI: Windmill owners are considering partnering directly with wind energy consumers to facilitate power trading and get around power supply restrictions. The Tamil Nadu Spinning Mills Association (TASMA) along with its members is likely to float a special purpose vehicle (SPV) in which the windmill owners and power consumers...
NEW DELHI: A consortium comprising Tata Power Co. Ltd and SN Power Norway is in talks to buy a significant stake in a 96 megawatts (MW) hydropower project in Sikkim from Sarda Energy and Minerals Ltd in a transaction valued at about Rs.200 crore, according to two people aware...
NEW DELHI: Government has asked power producers to refrain from setting up new gas-based plants as dwindling fuel supply is threatening viability of 37,000-MW of existing and upcoming projects. The power ministry has issued an advisory to developers for not planning projects based on domestic gas till 2015-16. The...
Gazprom, the world’s largest natural-gas exporter, is struggling to get a foothold in the Asian markets leading global economic growth. The Russian company’s plan to supply liquefied natural gas to India from 2016, the year the US is set to start gas exports, is faltering after buyers said they’re...
MUMBAI: State-run energy major Oil and Natural Gas Corporation (ONGC) is close to filling two key senior management positions as the Public Enterprises Selection Board ( PESB) has recommended names of PK Borthakur – executive director and asset chief, Mumbai High – for the post of director (offshore), and...
NEW DELHI: Trinamool Congress leader Mamata Banerjee’s outburst against her own party member and railway minister Dinesh Trivedi for raising passenger fares has demoralised state oil companies as they fear the government would not be able to raise fuel prices despite mounting losses. Senior executives of Indian Oil Corp,...
MUMBAI: Cairn India’s stock has lost some steam after seeing an excellent run-up of 60 per cent from its 52-week low of Rs 250 in August last year to its 52-week high of Rs 400.95 on this February 22. The stock is down around seven per cent from its...
KOCHI: The Petronet LNG Terminal (PLL) at nearby Puthu Vypeen is likely to be commissioned by November-December this year, a top company official has said. “Completion of the Kochi LNG terminal is on track and satisfactory. We hope by November-December we should be looking at commissioning of the terminal....
DIBRUGARH: Brahmaputra Cracker and Polymer Limited (BCPL) was set to implement the Gas Cracker project at Lepetkata in Assam’s Dibrugarh district on schedule, according to Secretary, Ministry of Chemical and Fertiliser K Jose Cyriac. “The progress of the project has improved and is now proceeding as scheduled with mechanical...