October 28, 2016
Every day we compile the latest news on the Indian economy to keep you abreast and updated on the current state of commercial affairs. So that Indian economy news stays fresh and crisp as your daily newspaper, with inputs from the best resources. Our compilations bring business news reports that are relevant today and tomorrow, giving vital inputs on the various sectors of the Indian Industry and trade. The news gathered from across the financial and political hubs of India so that you know the shape of things to come in the Indian economy.
New Delhi: The Government of India plans to rationalise various categories of electricity consumers across states, which is expected to bring transparency and efficiency in billing, improve tariff collection and improve the health of distribution companies in the country.
New Delhi: The Union Cabinet has approved a new productivity-linked reward (PLR) scheme for all major port trusts and dock labour board employees/workers for the period 2015-16 to 2017-18, which would facilitate a yearly outgo of around Rs 49.58 crore (US$ 7.4 million) for about 37,870 workers, and is expected to foster better industrial relationship and congenial work atmosphere in the port sector, apart from stimulating better productivity.
Mumbai: The Reserve Bank of India (RBI) has allowed start-ups to borrow up to US$ 3 million per financial year through external commercial borrowings (ECBs), which is expected to help them diversify sources of capital for the start-ups.
New Delhi: Macquarie Infrastructure and Real Assets (MIRA) and Tata Housing Development Co. Ltd have entered into a 70:30 partnership to invest Rs 1,400 crore (US$ 209 million) and Rs 600 crore (US$ 90 million) respectively in high-end residential property projects, starting with four major cities of Mumbai, National Capital Region, Bengaluru and Pune.
New Delhi: IBM has acquried Indian cloud computing firm Sanovi Technologies, which provides hybrid cloud recovery, cloud migration, cloud infrastructure and business continuity software for enterprise data centers.