Tuesday, March 3, 2015
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ATF price hiked by 8.2%, non-subsidised LPG to cost Rs 5 more
NEW DELHI, Mar 1 (Agencies): Jet fuel price was today hiked by a steep 8.2 per cent while the rates of non-subsidised LPG was increased by Rs 5 per cylinder on firming international oil rates. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 3,849.97 per kilolitre, or 8.2 per cent, to Rs 50,363 per kl, oil companies announced today. The rate hike follows seven consecutive monthly cuts since August, the last being by 11.27 per cent (Rs 5,909.9 per kl) from February 1. Prior to today's increase, ATF price had been cut by Rs 23,648.73 or 33 per cent in seven reductions since August 2014. Even after today's hike, jet fuel rates are lowest since February 2011. Jet fuel constitutes over 40 per cent of an airline's operating costs and the price increase will ra...
Kashmir Times News Report
IndiGo charges Rs 9,000 for 'infant ticket', customer moves DGCA
NEW DELHI, Mar 1 (Agencies): An IndiGo airline customer has accused the budget carrier of charging Rs 9,000 for an infant ticket on a domestic flight for non-production of birth certificate at the time of travel and has approached DGCA on the matter. The complainant, Sanjai Sharma, has also alleged that the airline issued a confirmed ticket (booking reference Q2U14Y) without seat number. "The infant ticket was converted to adult ticket and (IndiGo) charged Rs 9,115 for the ticket just because my wife was not carrying a birth certificate for the child. "At the airport, IndiGo exploited the situation and made a traveller pay exorbitantly by such practice," Sharma alleged in his complaint to DGCA last week, adding that the airline deducted another Rs 3,600 from two pre-booked return ticke...
Kashmir Times News Report
I never took money from any corporate entity: Gadkari on Essar Row
MUMBAI, Feb 27 (Agencies): As news reports about his having enjoyed the hospitality of the Essar group during a trip to Europe triggered a row, Union Minister Nitin Gadkari today said he had visited a yacht belonging to them "just to see" it and asserted he never took money from any corporate entity. "I want to see new things and when Essar people invited me to see their yacht in the sea, I accepted their invitation. I would have gone to see it even if they had placed a ticket of Rs 500 for admission," Gadkari told reporters. Gadkari, who had to step down as BJP president after a controversy erupted over his alleged stakes in shell companies in January 2013, said he held no public office at the time of his visit to the yacht anchored off a seaside village on the French Riviera in July t...
Kashmir Times News Report
Freight rate hike may push up commodity prices
NEW DELHI, Feb 26 (Agencies): Cement, coal, steel and urea prices are likely to go up with the Railways Minister proposing freight hike up to 10 per cent for various commodities. The railway budget proposals, presented by Railway Minister Suresh Prabhu in Parliament today, proposed to hike freight rates for 12 commodities in the range of 0.8 per cent to 10 per cent. The proposed hike for cement, coal, iron and steel, grains & pulses, urea, groundnut oil, LPG and kerosene is 2.7 per cent, 6.3 per cent, 0.8 per cent, 10 per cent, 10 per cent, 2.1 per cent, 0.8 per cent and 0.8 per cent respectively. However, for limestone, dolomite & manganese and speed diesel oil the rates have been reduced by 0.3 per cent and 1 per cent respectively. The Railways Minister has also raised the base frei...
Kashmir Times News Report
India to soon start FTA feasibility process with Russia, Peru
NEW DELHI, Feb 26 (Agencies): India will soon initiate the feasibility process to launch negotiations for a free trade agreement with Russia and Peru, a move aimed at enhancing economic ties with these nations, Commerce Secretary Rajeev Kher said today. Kher also said the new foreign trade policy (FTP) would be announced after the Budget, that would give a direction to India's efforts to enhance engagements with its trading partners. He said India is in the process of increasing its economic engagement with regions including Latin America, Africa, South Asia, West Asia and Central Asia. India will begin work towards "looking at the feasibility of regional trading arrangements with Peru and Russia very shortly," he said. "In fact a joint study group (JSG) for both these countries have ...
Kashmir Times News Report
Money Laundering: ED attaches Rs 232cr worth assets of Jagan, others
NEW DELHI, Feb 26 (Agencies): Enforcement Directorate (ED) has attached assets worth over Rs 232 crore in connection with its money laundering probe against YSR Congress chief Jagan Mohan Reddy and former BCCI top boss N Srinivasan in the alleged quid—pro—quo and illegal investments case between the business entities of the two and few others. The agency has registered a criminal case under the Prevention of Money Laundering Act (PMLA) to probe alleged bribes paid by Srinivasan, also the Managing Director of Ms India Cements Limited, to Reddy as "quid-pro-quo for undue favours received by his company from the government of Andhra Pradesh" when Jagan's father YS Rajasekhara Reddy was the state Chief Minister. ED, in the latest order, attached a number of land plots of Ms Janani Infrastru...
Kashmir Times News Report
RBI says 'overdraft' under Jan-Dhan Yojana is 'priority sector lending'
MUMBAI, Feb 25 (Agencies): Giving a big boost to Pradhan Mantri Jan-Dhan Yojana (PMJDY), the RBI today said bank overdrafts of up to Rs 5,000 in accounts opened under this financial inclusion mission will be treated as priority sector lending. "...Overdrafts extended by banks up to Rs 5,000 in PMJDY accounts will be eligible for classification under priority sector advances ('others' category) as also weaker sections, provided the borrowers household annual income does not exceed Rs 60,000 for rural areas and Rs 1,20,000 for non-rural areas," the Reserve Bank of India (RBI) said in a notification. Under PMJDY, the overdraft facility is permitted to Aadhaar-enabled accounts after "satisfactory operation" of accounts for six months. Last August, Prime Minister Narendra Modi had launched ...
Kashmir Times News Report
Govt open to accepting 'good' suggestions on land law: Gadkari
NEW DELHI, Feb 25 (Agencies): As the opposition to the land acquisition law including from its allies grew, Government today said it is open to accepting "good" suggestions and insisted that the new measure was pro-farmer and pro-poor. Road Transport and Highways Minister Nitin Gadkari, who is government's key negotiator, accused opposition parties of double-standards and said almost every state government run by them, including Congress, had written to the Centre against the previous land law brought in by the UPA. "We are open to accepting good suggestions offered by other parties. If people have some opinion on social impact assessment or consent clauses, we are willing to hear them," he told reporters. The BJP government's decision to do away with the need of taking consent of land...
Kashmir Times News Report
Delhi CM included in NITI Aayog Governing Council
NEW DELHI, Feb 25 (Agencies): Delhi Chief Minister Arvind Kejriwal has been made a member of the Governing Council of newly-formed NITI Aayog, which has Prime Minister Narendra Modi as it chairman. Kejriwal has come in place of national capital territory's Lieutenant Governor Najeeb Jung. The Centre has issued a notification regarding composition of the Governing Council of NITI Aayog for amending its Cabinet Resolution through which the new body was created. "Governing Council comprising the Chief Ministers of all the States and Union Territories with Legislatures and Lt. Governors of other Union Territories," it said. According to the earlier notification issued in January, the Chief Minister of Delhi was not on board of the Governing Council and Lt. Governor was representing the st...
Kashmir Times News Report
iBall takes over Samsung as top tablet vendor in India: IDC
NEW DELHI, Feb 23 (Agencies): Technology giant Samsung has been dethroned as top tablet vendor in the Indian market by domestic firm iBall, according to global research firm IDC. Mumbai-based iBall has overtaken Samsung in the Indian tablet market with 15.6 per cent share in the October-December quarter, which saw total shipments of 0.96 million units, according to IDC's latest quarterly estimates. Samsung saw its share declining to 12.9 per cent in the October-December quarter, 2014, from 22.2 per cent in the third quarter of 2014. "iBall rapidly climbed up its way to the number 1 spot in this quarter. From a 4.5 per cent share in Q4 2013, the brand has more than tripled its share in Q4 2014," IDC said in a statement. IBall had a 10.6 per cent share in July-September, 2014, and ranked...
Kashmir Times News Report
Telecom tariffs to go down as TRAI cuts call charges
NEW DELHI, Feb 23 (Agencies): In a bid to boost fixed line phone connections in the country, telecom regulator Trai today removed charges that a landline service provider has to pay to the other service providers for transmitting its customers' phone calls - a move that is likely to lead to lower tariffs. Now, calls made from landline-to-landline or landline-to- mobiles will not include the interconnection charge, which was 20 paise. Trai has also reduced network interconnection usage charges (IUC) on calls made from mobile phones by about 30 per cent to 14 paise per call from 20 paise earlier. "To promote investment in, and adoption of, wireline networks, so that they may become an effective vehicle for the delivery of high-speed Internet in the country, the Authority has decided to p...
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