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MUMBAI: An Air India Express staff union has claimed the airline has issued charge sheets against 200 cabin crew members for reporting sick last month when the carrier faced significant disruptions. The Air India Express Employees Union (AIXEU) has termed the airline’s move as unfortunate and unfair labour practice....
MUMBAI: Ras Al Khaimah, one of the seven emirates in the UAE, is eyeing over 20 per cent growth in tourist arrivals from India with targeted marketing campaigns and addition of new hotels, the emirate’s Tourism Development Authority CEO Raki Phillips has said. “In 2023, we saw a significant...
NEW DELHI: Union Minister Ashwini Vaishnaw on Tuesday said the government will push ahead with its tech-driven agenda of cementing India’s global lead in semiconductor and electronics manufacturing, and as a technology and digital hub. Taking charge of Ministry of Electronics and IT (MeitY) — a nodal ministry tasked...
NEW DELHI: Equity mutual funds witnessed a staggering growth with inflow reaching a record high of Rs 34,697 crore in May, marking a 83 per cent surge from the preceding month, propelled by contributions from thematic funds and intermittent corrections that provided buying opportunity to investors. This also marks...
MUMBAI: Benchmark equity indices declined in early trade on Tuesday amid profit taking after a record-breaking rally and selling in bluechips Reliance Industries and HDFC Bank. Both Sensex and Nifty hit their all-time high levels in early trade on Monday. The 30-share BSE Sensex declined 113.63 points to 76,376.45....
A recent World Bank working paper has called for granting greater authority to Panchayats while strengthening local fiscal capacity to offset what it identified as “recentralisation” resulting from the widespread adoption of online payment systems, MIS-based beneficiary selection, and digital beneficiary tracking. “Delegating more authority to Panchayats, rather than...
NEW DELHI: The new government is likely to overhaul the entire statistical system of the country, which includes undertaking additional surveys, fixing data leakages, improving frequency of the survey releases, and tweaking the methodology of computing several macro-economic indicators, official sources told FE. “The entire overhaul of the statistical...
MUMBAI: State-run Bharat Petroleum Corporation (BPCL) plans to set up a new 12 million metric tonnes per annum (MMTPA) refinery in the country, two industry officials aware of the development told ET. The state-owned oil marketing company will invest around Rs 50,000 crore in the project for which it...
NEW DELHI: Investment rate may have approached 35%, the level needed for GDP growth of 7-8%, thanks to a big capex push by the government, but the composition of capital formation shows a declining share of industrial investments. The share of productive assets such as machinery in gross fixed...
NEW DELHI: With Prime Minister Narendra Modi taking oath for the third time, India Inc on Monday expressed optimism that the new government under his leadership can usher in the next phase of reforms to achieve the goal of Viksit Bharat. Several corporate leaders posted congratulatory messages on...
NEW DELHI: State-run GAIL on Monday said it has urged the Madhya Pradesh government to provide enablers for setting up of India’s largest ethane cracker unit, which will likely entail an investment of around ₹60,000 crore. The country’s largest gas utility intends to set up a 1,500-kilo tonnes per...
RAIPUR: Bhilai Steel Plant (BSP), the Chhattisgarh-based entity of SAIL (Steel Authority of India Limited), has so far dispatched four rakes (1,000 tonnes each) of R350 heat-treated (HT) rails from its modern universal rail mill to the Indian Railways. The Railways has been demanding micro-alloyed and HT rails from...
NEW DELHI: The statistics ministry doesn’t expect to undertake any significant downward revision to the official economic growth estimate for FY24, and may disprove many analysts in this regard. It also sees the possibility of the gross domestic product (GDP) expansion in FY25 to exceed 7%, with the “strong...
NEW DELHI: The government is considering a tweak to the capital gains tax regime for debt mutual funds to offer some relief for the Bharat Bond Exchange Traded Fund. The issue figured at a meeting held last week in the finance ministry as the government is planning to issue...
The biggest challenge for the commerce and industry ministry under the coalition government led by Prime Minister Narendra Modi would be to revive the growth of merchandise exports that has been grappling with external factors such as geopolitical risks and high inflation. A dedicated road map is expected to...
MUMBAI: Investors and companies based in India will now be able to invest in overseas funds, including those set up in the United States and Singapore, without any restrictions. The move follows an amendment by the Reserve Bank of India (RBI) last week regarding Overseas Portfolio Investments (OPIs). The...
NEW DELHI: The labour and employment ministry and the ministry of skill development and entrepreneurship will need to usher in labour law reforms, job creation, upskilling, and promote social security for the workforce to give a fillip to India’s manufacturing competitiveness, said experts. While the four labour codes have...
NEW DELHI: The commerce and industry ministry may seek more funds for startups in the forthcoming Budget, to be announced by the new government, to promote innovation in the country, an official has said. The new government may announce the Budget for 2024-25 in July. The seed fund scheme,...