Centre's infra push to drive mining and construction equipment sector: ICRA
The ratings agency expects the sector to grow at around 15-17 per cent in 2021, against its earlier estimate of 15-20 per cent. "Patchy monsoons, together with price increase, against a backdrop of stagnant equipment rental yields, have impacted customer sentiments and in turn the volume," said Mayank Agrawal, Sector Head and Assistant Vice-President, Corporate Sector Ratings.
Be careful with banning all cryptocurrencies in India: Experts
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to prohibit all private cryptocurrencies in India in the Winter Session of Parliament starting November 29. It, however, allows for certain exceptions to promote the underlying technology of cryptocurrency and its usage. Former Finance Secretary Subhash Chandra Garg told IANS that cryptocurrencies don't function and provide services as currencies only.
Petrol, diesel prices static as global oil situation under watch
Accordingly, petrol and diesel prices remained static for the 20th consecutive day on Wednesday under the daily price revision mechanism followed by oil marketing companies. So, the pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on the Diwali day on November 4 from the previous day's level of Rs 110.04 a litre, remained at the same level on Wednesday. The diesel price also remained unchanged in the capital at Rs 86.67 a litre.
Cabinet approves telecom infra plan for over 7K aspirational villages
Accordingly, the Central government aims to cover 7,287 "uncovered villages" of 44 aspirational districts with 4G services, with an estimated cost of about Rs 6,466 crore. The estimated outlay also includes operational expenses for five years.
Government wants ONGC to bring in private sector to speed up production
Petroleum Secretary Tarun Kapoor said that the ONGC's production has to be increased and for that, the company has to expand its portfolio through new exploration. And in the expanded plate, he said, the company can involve the private sector that brings in the right technology required for specific exploratory fields.
Centre on verge of launching long-term leasing out of ITDC hotels
The details of the plan have been kept under the wraps even as an inter-ministerial panel has completed the consultation process on the issue. As per industry sources, a draft note has been circulated on the matter and the likely lessee will be selected soon based on a bidding process. However, it is not known if all the Ashok Group of Hotels which are 100 per cent owned by the India Tourism Development Corporation (ITDC) will be leased via a single bidding process.
Deadline for PAN-Aadhaar linkage extended till March 2022
"The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act, 1961," CBDT said in a statement late on Friday night.
Centre releases Rs 75K cr to states as GST compensation shortfall
This year, the shortfall amount over GST compensation is expected at Rs 1.59 lakh crore. This would be over and above the compensation in excess of Rs 1 lakh crore (based on cess collection) that is estimated to be released to states and UTs with legislature during this financial year. The sum total of Rs 2.59 lakh crore is expected to exceed the amount of GST compensation accruing in FY 2021-22.
RBI comes up with scheme for retail investment into govt securities
The scheme, to help retail investors or individuals open and maintain the 'Retail Direct Gilt Account' (RDG Account) with the central bank, will be commenced in a later date, said an RBI statement. RDG Account can be opened through an online portal provided for the purpose of the scheme. The portal will also give the registered users facilities to access to primary issuance of Government securities and access to NDS-OM.
Cabinet announces Rs 23K cr package to fight Covid
Addressing a press conference here, newly-appointed Union Health Minister Mansukh Mandaviya said: "Rs 23,000 crore package to be given to deal with the problems that occurred in the second wave of Covid-19. The package will be used jointly by the Central and state governments." He said the Centre will share Rs 15,000 crore while the state governments will share Rs 8,000 crore of the said package.