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Private sector investment is set to witness a significant increase, as capacity utilisation in several key sectors has already crossed 80 per cent and economic growth is estimated to be 6.7 per cent in the current financial year, newly elected CII President R Dinesh said on Sunday.
He also exuded confidence that the Reserve Bank of India (RBI) will maintain status quo on interest rate in the next bi-monthly monetary policy to be announced later this week.
On why the government unsuccessfully keeps on nudging private companies to increase investment, the CII president told PTI that the period between 2016 to 2019, was not good for growth and in 2020 there was COVID.
"We have circumstances beyond our control which hampered demand  We did come out of the COVID much faster," he said, adding there are signs of improvement.
Citing the CII's annual CEOs survey, he said all sectors have crossed 75 per cent capacity utilisation and the figure was 80 per cent in key sectors like cement, stee

Private sector investment is set to witness a significant increase, as capacity utilisation in several key sectors has already crossed 80 per cent and economic growth is estimated to be 6.7 per cent in the current financial year, newly elected CII President R Dinesh said on Sunday.

Private sector investment set to witness significant increase: R Dinesh

Press Trust of India

Tourism

Sterling Holidays Resorts Ltd, a part of Thomas Cook India group, plans to add a new hotel every month in the second half of this year to cash in on the robust growth witnessed in domestic tourism, according to a top group official.
The company expects the number of properties to increase to 55 during the course of next year, Thomas Cook (India) Chairman and Managing Director Madhavan Menon told PTI.
As on April 30, 2023 Sterling has 2,447 rooms across 40 resorts, out of which 15 company-owned resorts, 10 leased and 15 management contracts. It plans to add 188 rooms across six resorts in the first half of the current financial year.
"Sterling Holidays Resorts, which is becoming a hospitality business from what was originally conceived as a timeshare, is going to add a new hotel every month in the second half of this year," he said.
Menon further said, "We are going to see nearly a 50 per cent increase in the number of rooms we will offer at Sterling over the next one and a half ...

Sterling Holidays Resorts Ltd, a part of Thomas Cook India group, plans to add a new hotel every month in the second half of this year to cash in on the robust growth witnessed in domestic tourism, according to a top group official.

Sterling Holidays to add new hotel each month to cash in on tourism growth

coal, fossil fuel

From planting saplings to development of eco-parks, state-owned coal companies are taking various measures to reclaim abandoned mines, infusing multi-core investments, coal and mines minister Pralhad Joshi said.
Other initiatives of the ministry include adoption of modern technologies like gasification of coal, installation of renewable energy projects, conservation of water bodies etc, the minister told PTI in an interview.
"Our Prime Minister (Narendra Modi) has set a vision to make India net zero by 2070. In line with his vision, our PSUs are taking various efforts to make the coal mining a sustainable exercise. We are doing our bit for climate change issue. They are spending thousands of crores to meet this goal," he said ahead of the World Environment Day on June 5.
Coal India Ltd (CIL) along with with its eight subsidiary companies and NLC India Ltd function under the administrative control of the coal ministry.
Joshi, who is also the minister for parliamentary affairs, added

From planting saplings to development of eco-parks, state-owned coal companies are taking various measures to reclaim abandoned mines, infusing multi-core investments, coal and mines minister Pralhad Joshi said.

State-owned coal firms taking steps to make mining sustainable: Joshi

The Indian Railways cancelled 116 trains on Thursday, August 25, till 9.30 am

IRCTC, Cancelled Trains Today

As the restoration work after the horrific thee-train accident in Odisha's Balasore is underway, the State government said on Sunday that a special train will run from Bhadrak to Chennai at 1According to officials, this special train is being run to facilitate the victims and other passengers who were destined to go to Chennai but got stuck in Odisha after the accident on Friday night.The train will have stoppages at CTC, BBSR and all major places enroute. It will also have a parcel van attached to carry dead body, if required."A special train will start from Bhadrak at 1 pm and will run to Chennai. It will have stoppages at CTC, BBSR and all major places enroute. The train will also have a parcel van attached to carry the dead body if required," the Information and Public Relations (I  &  PR) department of the Odisha government said in a tweet on Sunday.Earlier, a special train from Balasore carrying passengers affected by the horrific accident and derailment on Friday, arrived ..

As the restoration work after the horrific thee-train accident in Odisha's Balasore is underway, the State government said on Sunday that a special train will run from Bhadrak to Chennai at 1According to officials, this special train is being run to facilitate the victims and other passengers who were destined to go to Chennai but got stuck in Odisha after the accident on Friday night.The train will have stoppages at CTC, BBSR and all major places enroute. It will also have a parcel van attached to carry dead body, if required."A special train will start from Bhadrak at 1 pm and will run to Chennai. It will have stoppages at CTC, BBSR and all major places enroute. The train will also have a parcel van attached to carry the dead body if required," the Information and Public Relations (I  &  PR) department of the Odisha government said in a tweet on Sunday.Earlier, a special train from Balasore carrying passengers affected by the horrific accident and derailment on Friday, arrived ...

Train tragedy: State to run special train from Bhadrak to Chennai today

e-commerce

An inter-ministerial consultation is going on to frame an e-commerce policy which would help in providing a conducive environment for inclusive and harmonious growth of the sector, a top government official said.
Secretary in the department for promotion of industry and internal trade (DPIIT) Rajesh Kumar Singh said that broadly the intention is to make the policy work along with the consumer protection rules and not in conflict with each other.
The policy aims to prepare strategies for providing a conducive environment for inclusive and harmonious growth of e-commerce sector through a streamlined regulatory framework for ease of doing business, adoption of modern technologies, integration of supply chains and enhancing exports through this medium.
"We are in the process of inter-ministerial consultation (to frame the policy)," Singh told PTI.
He said that the consumer protection rules and this policy will be separate, but they will not be in conflict with each other and in fact th

An inter-ministerial consultation is going on to frame an e-commerce policy which would help in providing a conducive environment for inclusive and harmonious growth of the sector, a top government official said.

We are in inter-ministerial consultation for e-comm policy: DPIIT secy

Mahindra and Mahindra

Mahindra & Mahindra is looking at maintaining leadership position in the fast growing sports utility vehicle segment in the current fiscal with demand remaining robust for its model range, according to the group CFO Manoj Bhat.
The company, which is sitting on an order backlog of 2.92 lakh units for sports utility vehicles (SUV), also plans to ramp-up production capacity by the end of this year, as it looks to cut waiting periods on various models.
In an interaction with PTI, Bhat said there is a huge demand for company products which is evident with the number of open bookings generated by the auto major.
"If you look at the last quarter booking numbers there is huge demand across the board... demand for XUV300/400, Thar and demand for the Scorpio and XUV700 range continues to be strong... so from that perspective it is good that the customer is getting more choice with more products," he noted.
When asked if the company is looking at a leadership position in the SUV segment this

Mahindra & Mahindra is looking at maintaining leadership position in the fast growing sports utility vehicle segment in the current fiscal with demand remaining robust for its model range, according to the group CFO Manoj Bhat.

Aiming to maintain leadership position in SUV segment: Mahindra Group CFO

New Delhi: Delhi Deputy Chief Minister Manish Sisodia addresses a press conference, in New Delhi, Saturday, June 4, 2022. (PTI Photo/Kamal Singh)(

Manish Sisodia

The Delhi High Court is scheduled to pass an order on former Delhi Deputy Chief Minister Manish Sisodia's interim bail plea citing medical grounds for his wife's health on Monday

Excise policy: Delhi HC to pass order on Sisodia's interim bail on June 5

renewable energy, wind energy

The government is planning to file draft papers for an initial public offering of state-owned Indian Renewable Energy Development Agency (IREDA) by September, a top official said.
"We have appointed the merchant bankers and they will proceed with valuation. We should be able to file the DRHP in 3-4 months, could be by September," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI.
A public sector enterprises under Ministry of New and Renewable Energy (MNRE), IREDA is engaged in the financing of renewable energy and energy efficiency projects.
Last month, the Cabinet Committee on Economic Affairs (CCEA) approved the listing of IREDA through an initial public offer (IPO) to part sale the government's stake and raise funds for IREDA through the issue of fresh equity shares.
Earlier in March 2022, the government infused Rs 1,500 crore capital in IREDA, which is a non-banking finance company (NBFC).
The company posted an all-time high net

The government is planning to file draft papers for an initial public offering of state-owned Indian Renewable Energy Development Agency (IREDA) by September, a top official said.

Govt may file draft papers for IREDA public offering by Sept: DIPAM Secy

solar panel, solar, solar energy, sunlight, energy, renewable energy

The government is looking to sell a part of its residual 49 per cent stake in Balco through a public offer and is engaging with the firm's promoter Vedanta to withdraw arbitration and facilitate stock exchanges listing of the company, DIPAM Secretary Tuhin Kanta Pandey said.
The Ministry of Mines and the Department of Investment and Public Asset Management (DIPAM) have held 'preliminary talks' with Vedanta Ltd -- the promoters of erstwhile public sector company BALCO, he said. BALCO has to withdraw a 2009 arbitration case it filed against the government over valuation dispute of the residual stake.
"We have talked (with BALCO promoters) at preliminary level. We will engage with them in detail. If we have to do public listing, they (Vedanta) will have to withdraw the case. If they agree then we can move forward," Pandey told PTI.
The government wants to sell part of its 49 per cent stake in BALCO in the initial public offering (IPO) before eventually exiting the company. A stock ...

The government is looking to sell a part of its residual 49 per cent stake in Balco through a public offer and is engaging with the firm's promoter Vedanta to withdraw arbitration and facilitate stock exchanges listing of the company, DIPAM Secretary Tuhin Kanta Pandey said.

Govt holds talks with BALCO for withdrawing arbitration, initiating IPO

Hero MotoCorp

The country's largest two-wheeler maker Hero MotoCorp has increased price of its electric scooter VIDA V1 Pro by around Rs 6,000 in order to offset the impact of curtailed subsidy structure on electric two-wheelers coming into effect from June 1.
The company's flagship electric scooter VIDA V1 Pro will now be available at Rs 1,45,900 including FAME II subsidy and portable charger.
This is an increase of around Rs 6,000 from the earlier pricing.
When contacted, a company dealer confirmed the development and noted that the two-wheeler maker has absorbed the major impact of the reduction in subsidy under FAME II effective June 1, and passed on only a small fraction of the additional cost to the prospective buyers.
A comment from the company could not be ascertained immediately.
For electric two-wheelers, the maximum subsidy cap, which was 40 per cent of the ex-factory price, has been reduced to 15 per cent by the Ministry of Heavy Industries.
As per the industry sources, the FAME II

The country's largest two-wheeler maker Hero MotoCorp has increased price of its electric scooter VIDA V1 Pro by around Rs 6,000 in order to offset the impact of curtailed subsidy structure on electric two-wheelers coming into effect from June 1.

Hero MotoCorp hikes price of e-scooter VIDA V1 Pro by Rs 6,000 from June 1

Zimbabwe is now considered the most miserable country according to Steve Hanke's Annual Misery Index. But where does India stand? Watch this video to know

Take a look at the world's 'most miserable' countries

Sebi has come out with a consultation paper on the expense ratios of mutual funds. As the industry grows, Sebi wants fund houses to share economies of scale with customers.

'Sebi is keen that AMCs share the benefits of larger AUM with customers'

From PAN-Aadhaar linking to Higher EPS pension deadlines, the month of June will see a number of changes that would affect the common man. 

Let's take you through some of the changes

9 Game-Changing June Updates That Will Shake Your Wallet

Apple's new stores in Delhi & Mumbai have grossed monthly sales of more than Rs 22-25 crore each. Industry experts have said that the figure is around twice the sale of an electronics store in India

Record-breaking sales: Apple's India stores reach Rs 25 cr monthly revenue mark

When you buy any item, you may pay for it using an appropriate currency note. But have you ever wondered what the cost of printing that currency note is? Watch the video to find out

Explained: How much does it cost to print rupees?

On 21st May, 2023, Bhanu Rekha, a young employee at Infosys, lost her life in a distressing incident caused by heavy rainfall. India's bustling tech capital, where infra deficiencies are rampant

Explained: How infra stress, bad roads are killing Brand Bengaluru

Maruti Suzuki (MS) is all set to bring its much-awaited, five-door off-roader Jimny into the market on June 7. Here's all you need to know about the new Gypsy.

Maruti Suzuki Jimny 2023 | All you need to know about the new Gypsy

In a recent run-off election, Recep Tayyip Erdogan emerged victorious securing another five-year term as the president of Turkey. 
Watch the video to know more about his challenges.

Turkey election 2023: Erdogan wins another term as president but challenges remain

Employees Provident Fund or EPF is a mandatory savings and retirement scheme for employees of an eligible organisation, which can be used as a corpus post-retirement.

How To Withdraw PF Advance Online? Here's A Step-By-Step Guide

From US to Australia, investors from 21 nations get angeltax exemption. Watch the video to dive into the details and explore what exactly this angel tax is all about.

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