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    India Positive - 23 September, 2016

  • India Positive - 23 September, 2016

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September 23, 2016

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Cabinet merges rail, Union budgets, agrees in principle to advancing date

The Union Cabinet has approved the merger of Railway budget with the Union budget, which is expected to help initiate revenue mobilisation and capital expenditure measures from the beginning of the fiscal year.

India, Nepal to set up oversight panel to expedite projects

India and Nepal have signed an agreement to set up an oversight panel to speed up the road and hydel power projects that India is constructing in Nepal and also expedite the work on two railway links.

Ministry of Tourism launches investors' summit to fund state projects

The Ministry of Tourism has organised the Incredible India Tourism Investment Summit 2016 from September 21-23, 2016, to bring together state governments and domestic and international investors for funding investment ready projects in various states and union territories of India.

India, China to jointly promote tea production & consumption

The United Planters’ Association of Southern India (UPASI) and China Tea Marketing Association (CTMA) have signed a Memorandum of Understanding (MoU) to jointly promote sustainable tea production and consumption.

New import policy for marble and travertine blocks

The Government of India has introduced a new import policy for marble & travertine blocks, and marble and granite slabs, aimed at balancing the interests of domestic consumers, producers and processors, and to end the cumbersome licensing system for import of marble and travertine blocks.

Panel prepares blueprint for doubling mineral output growth

The Ministry of Mines plans to restart operations in several hundred mines across the country in order to boost mineral production by one percentage point from 2.4 per cent at present, over the next two-to-three years.

India, France sign $8.9-billion Rafale deal for 36 fighter jets

India has signed an agreement worth US$ 8.9 billion with France to procure 36 Rafale fighter jets from Dassault Aviation SA, which will enable the Indian Air Force to hit targets as far as 150 km away, compared with 80 km it has so far been capable of targeting.

India's prospects over next 20-30 years look good: Jamie Dimon, Chairman, JPMorgan

Mr Jamie Dimon, Chairman of JPMorgan, considers India a bright spot among its global peers with good prospects over next 20-30 years, supported by government policies conducive to future growth and diminishing fiscal deficit.

Bank deposits growth jumps to a 10-yr high

Aggregate deposits held by banks in India rose to a 10-year high of Rs 1.3 trillion (US$ 19.44 billion) in the fortnight ended September 02, 2016, aided by the flow from the Seventh Pay Commission payments, according to data from the Reserve Bank of India (RBI).

India leads overseas inflow chart among EMs

Total inflows into India from listed funds stood at US$ 1.3 billion in August 2016, which is the highest among emerging markets and the largest so far in 2016, according to data from Kotak Institutional Equities.

IISc Bangalore jumps 50 places in world university rankings

New Delhi: The Indian Institute of Science (IISc), Bengaluru, has moved up 50 places, claiming a spot in the 201-250 group of best universities, in the Times Higher Education World University Rankings for FY 2016-17.

Mobile data revenue to see annual growth of 30%: Idea Cellular

The Indian telecommunication industry's gross revenue is expected to grow at a compound annual growth rate (CAGR) of 8.7 per cent over the next five years, while mobile data revenue will grow at a CAGR of 30 per cent, according to data from Idea Cellular Limited.