New for old plan to boost power supply

State governments that will have to take over the bulk of their poorly managed state electricity boards’ (SEBs) loans under a revised financial restructuring scheme will be allowed to shift coal linkages from their older, less efficient sub-critical power plants to their supercritical units. On average, this could lead to a 25% saving on the variable cost and enable the ... Read More »

DoD wants disinvestment target to be scaled down to Rs 30K cr

The Department of Disinvestment wants that PSU stake sale target for the current fiscal be more than halved to Rs 30,000 crore in view of volatility in the stock markets. “The target of Rs 30,000 crore seems more reasonable for current fiscal given that there is no big stock to sell,” a source said. The government has budgeted to raise ... Read More »

Govt to address regulatory, financial issues in infra sector: DEA Secy Shaktikanta Das

The government today assured industry stakeholders of resolving regulatory and financing issues to expedite  infrastructure projects, including those being promoted under the PPP mode. “We will examine the suggestions in consultation with the various other departments and ministries and place them before the government for decision quickly,” Economic Affairs Secretary Shaktikanta Das told reporters after a meeting with infrastructure sector ... Read More »

India’s fuel consumption to be higher in 18 months: Moody’s

Projecting Indian economy’s growth at 7 per cent in the current fiscal and 7.5 per cent in the next one, Moody’s Investors Service today said GDP growth and low oil prices will lead to higher fuel consumption over the next 18 months. “We expect the Indian economy to grow at a faster pace, with GDP growth for the fiscal year ... Read More »

As oil industry bleeds jobs, Asia’s green energy drive offers bright spot

Renewables are powering a rare bright spot in the energy industry, with record job hiring in solar, wind and hydro partly offsetting the biggest round of job losses in the oil and gas sector in almost two decades. The boom in new green jobs is being led by Asia where governments in countries such as China and India are embarking ... Read More »

Former Infosys honcho T.V. Mohandas Pai on survival of startups: Top 10 points to know

Former Infosys director T.V. Mohandas Pai says a majority of startups in India would fail and that only 10 per cent of these new-age companies will be successful while – Pai voiced his opinion even as the startup ecosystem is thriving in India. Currently India has 18,000 startups valued at $75 billion, employing 300,000 people. A recent report by IT ... Read More »

Relaxed tax residency rules to help MNCs

Foreign companies with Indian shareholders won’t have to pay taxes here for their worldwide income unless they are managed from India on an everyday basis. If these foreign companies are managed from outside India, whether or not they are promoted by resident Indians, they will have to pay taxes in India only for the income they earn in the country. ... Read More »

No home advantage, garment exporters eye Vietnam base

Vietnam could be the new Bangladesh for Indian garment exporters. Hit by a massive duty disadvantage vis-a-vis competitors, stringent labour laws, poor infrastructure and inadequate policy support at home, the Indian textile and garment industry sees its woes accentuated by the recently-negotiated Trans-Pacific Partnership (TPP) that could give Vietnam duty-free access to the US market. Analysts believe some Indian companies ... Read More »

Developing world should work together: India

Focusing on the need for India, Africa and other developing countries to work together,  the government on Sunday said that all three have to work “hand-in-hand”’ in the COP 21 on climate change in Paris in December and in the 10th WTO ministerial meet in Kenya “to ensure that our development agenda is not affected”. Speaking at the inauguration ceremony ... Read More »

Sin tax’ for alcohol, tobacco industries in GST regime

Alcohol and tobacco industries will have to pay more taxes towards an additional ‘sin tax’ under the proposed GST structure that seeks to bring in a uniform indirect tax regime across the country. “We have kept a provision of having an additional tax for the sinful industries such as alcohol and tobacco,” a senior Finance Ministry official said. However, the ... Read More »