The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said. The government bi-annually fixes prices of locally produced natural gas -- which is converted into [...]
India's highways infrastructure will match that of the US by 2024 for which work in time bound 'mission mode' is on including construction of green expressways and rail over bridges, Union Road Transport and Highways Minister Nitin Gadkari said. He said cabinet nod to 'Bharatmala 2' is likely soon and once obtained it will meet [...]
As many as 346 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.46 lakh crore, as per an official report. According to Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,418 [...]
Foreign investors have pumped Rs 7,200 crore into the Indian equities so far this month, mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. Going ahead, FPIs are likely to be cautious in the near term since there is a risk-off sentiment in equity markets globally due to the [...]
The order placed by the Railways is for the supply of seats and interior panels for Vande Bharat trains and "not to manufacture its coaches", a Tata Steel official has clarified. As part of the Rs 225 crore order, Tata Steel will supply light-weight seats for 23 coaches of Vande Bharat rails and fibre-reinforced polymer [...]
The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes and other forms of tobacco and linked the highest rate to their retail sale price. The capping of the cess rate was brought in as part of the amendments to the Finance Bill, 2023, which was [...]
The government has hiked customs duty on import of X-ray machines and non-portable X-ray generators to 15 per cent with effect from April 1. Currently, portable X-ray machines and non-portable X-ray generators and apparatus attract 10 per cent import duty. The changes in the customs duty rate was brought in as part of the amendments [...]
Drug firm Zydus Lifesciences is recalling over 55,000 bottles of generic medication in the US market due to failed impurities specifications. As per the latest enforcement report by the US Food and Drug Administration (USFDA), Zydus Pharmaceuticals (USA) Inc is recalling 21,936 (30 count) and 33,096 (100 count) bottles of Colchicine tablets, which are used [...]
Housing sales in India's top seven cities are estimated to rise 14 per cent during January-March to over 1.13 lakh units on strong demand despite increase in prices by 6-9 per cent, according to Anarock. Real estate consultant Anarock, which tracks the primary (fresh sales) residential market, said the "bull run" continued in the housing [...]
After stirring a price war in the soft drink segment with the relaunch of Campa, billionaire Mukesh Ambani-led Reliance has entered the personal and home care segment of FMCG, offering products at 30 to 35 per cent lesser price. Experts say "the jury is out" and a competitive offering from Reliance would attract the customers [...]
