Bold reforms, tariff authority proposed in interim Rail Budget

NEW DELHI: The interim Railway Budget for 2014-15 today contained reforms proposals for opening the sector to domestic and foreign investors and a tariff authority to rationalise fares and freights, end cross subsidisation and enlarge the dynamic fare scheme. The vote-on-account Budget, presented by Railway Minister Mallikarjun Kharge, do not contain any revision of fares […]

Railways to borrow `13,800 cr in 2014-15

New Delhi: Indian Railways will borrow less at Rs 13,800 crore from market through its two companies IRFC and Rail Vikas Nigam Ltd for capital expenditure during 2014-15. In the current fiscal, as per the revised estimate, these two companies raised Rs 14,942 crore from markets. Indian Railways Finance Corporation (IRFC) will raise Rs 12,800 […]

Indian Railway service for Vaishno Devi pilgrims to start soon: Railway Minister

NEW DELHI: Indian Railway connectivity to Katra, the base camp of Vaishno Devi shrine, has been completed and passenger services will start shortly, Railway Minister Mallikarjun Kharge today said. Listing out the achievements of Railways during UPA-II, he said the opening of the Udhampur-Katra section under the ambitious Kashmir Rail project will enable lakhs of […]

Retail inflation hits 2-year low of 8.79%

NEW DELHI: Retail inflation fell for the second consecutive month and eased to 24-month low of 8.79% in January mainly due to a drop in food prices.Inflation as measured by the Consumer Price Index (CPI) for December was 9.87% down from 11.16% in the previous month. Inflation in the food and beverages segment was 9.9% […]

ATMs soon to fork out cash without bank account too

MUMBAI: People without a bank account in India would soon be able to withdraw cash from an automated teller machine (ATM) with the use of mobile technology, Reserve Bank of India Governor Raghuram Rajan announced here Wednesday. At present, only bank account holders can withdraw cash from an ATM. “We have recently approved the in-principle […]

China world’s top gold consumer as sales cross 1,000 tonnes

BEIJING: China’s gold consumption crossed 1,000 tonnes for the first time ever in 2013, reinforcing its status as the world’s top consumer. China’s gold consumption touched 1,176.4 tonnes from 832.2 tonnes, a year-on-year increase of 41.4 percent, latest statistics released by China Gold Association showed. The statistics show although the gold output and consumption in […]

ACB files FIR in Reliance issue; names Moily, Ambani, Deora

NEW DELHI: Petroleum Minister Veerappa Moily, RIL Chief Mukesh Ambani, former Union Minister Murli Deora and retired Director General of Hydrocarbons VK Sibal were Wednesday named in an FIR by Anti-Corruption Branch of Delhi Government in the Reliance gas issue. The FIR by the ACB was registered a day after Chief Minister Arvind Kejriwal said […]

Gold falls from 3-month high on stocks as advance curbs demand

LONDON: Gold today declined from the highest price since November as rising equities cut demand for a haven and on speculation the metal’s advance will deter physical purchases. Gold fell by 0.4 per cent to $1,285.97 an ounce. It reached $1,293.93 yesterday, the highest since November 14. Silver also fell 0.4 per cent to 20.14 […]

J&K PSUs lose `276 crore in 3 years

JAMMU: More than Rs 276 crore losses were incurred in the public sector undertakings (PSU) during the past three years in Jammu and Kashmir, state government said on Tuesday. In a written reply to a question of a BJP MLA, Industries and Commerce Minister Sajjad Ahmad Kitchloo informed the Legislative Assembly that the loss statements […]

JK’s new Agri policy to tackle climate change

JAMMU: The Jammu and Kashmir Government would soon have an agriculture policy aimed at counter the challenges posed by climate change to agricultural productivity. The final draft of the policy prepared by the experts of SKUAST Jammu was reviewed at a high level meeting on Monday by the Minister for Agriculture Production, Ghulam Hassan Mir […]