Author: admin

40% Air India seats repaired since Tata take-over

July 18, 2023 admin

An Air India passenger aircraft taxis on the tarmac while another one lands at Chhatrapati Shivaji International Airport in Mumbai, India, May 3, 2023. REUTERS/Francis Mascarenhas | Photo Credit: FRANCIS MASCARENHAS Crumbling seats, broken armrests, and dysfunctional seat-back entertainment screens on Air India’s aircraft often make the airline a subject of passenger ire but a…

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Ashok Soota’s Happiest Minds raises ₹500 cr. through QIP

July 18, 2023 admin

Happiest Minds Technologies, an IT firm founded by Ashok Soota, has announced the successful completion of its capital raise of ₹500 crore ($61 million) through a qualified institutions placement (QIP) of equity shares. The fund-raising committee of the board of directors of the company approved the allotment of 54,11,255 equity shares of a face value of…

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Data | E-rickshaws to two-wheelers: The shift in the share of electric vehicles

July 18, 2023 admin

The number of electric vehicles in India has surged from just 2,400 a decade ago to over 27.4 lakh as of July 2023. File. | Photo Credit: Ashoke Chakrabarty The number of electric vehicles in India has surged from just 2,400 a decade ago to over 27.4 lakh as of July 2023. However, given the…

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Petrol, diesel sales fall as monsoon ebbs demand

July 17, 2023 admin

Representational file image | Photo Credit: Bhagya Prakash K India’s petrol and diesel consumption fell in the first half of July as fury of monsoon flipped travel plans and reduced the demand in the agricultural sector, preliminary industry data showed. Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of…

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India to push G-20 to raise MNC tax share

July 16, 2023 admin

Preparations are are on for the 3rd G-20 Finance Ministers and central bankers meeting in Gandhinagar. File | Photo Credit: ANI India will push its Group of 20 partners at a meeting it is hosting to support its proposal to raise the share of taxes multinational companies pay to countries where they earn “excess profits”,…

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Government forms new panel to review all NSO data

July 16, 2023 admin

A Standing Committee on Statistics will review the framework and results of all surveys conducted under the aegis of the National Statistical Office. File illustration: Sebastian Francis The government has constituted a new internal oversight mechanism for official data, revamping a Standing Committee on Economic Statistics (SCES) set up in late 2019, soon after the…

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Government reduces subsidised tomato price to ₹80 a kg

July 16, 2023 admin

The Centre started to sell tomatoes at a discounted rate of ₹90 per kg in Delhi-NCR through mobile vans. | Photo Credit: Sandeep Saxena The Centre will sell tomatoes at ₹80 per kg from July 16, as against ₹90 per kg earlier, to provide relief to people from high prices of the key kitchen item…

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Data | Bad loans at a record low, but write-offs still in the mix

July 15, 2023 admin

Between 2016 and 2019, the NPA ratio remained high. It began to decline later and continued to do so even during the pandemic. Just four years ago, Indian banks’ non-performing assets (NPA) ratio was the worst among most emerging economies. NPAs are bad loans which the borrower is not in a position to repay at…

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India’s wholesale prices remain in deflationary territory for third successive month in June

July 14, 2023 admin

The decline in the inflation rate in June is primarily due to a fall in prices of mineral oils, food products | Photo Credit: Reuters India’s wholesale prices remained in deflationary territory for the third successive month in June, with the pace of price contraction from a year ago quickening to -4.12% from -3.48% in…

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Private sector share in investment sees sharp decline in Q1

July 13, 2023 admin

“The private sector lost steam and the manufacturing sector, which dominated fresh capex plans in recent quarters, saw a drop in terms of project numbers as well as investments proposed” File | Photo Credit: Reuters Private investors turned cautious in the first quarter of 2023-24, with fresh manufacturing investment plans shrinking 17.5% year-on-year and overall…

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