New Delhi, Jun 24: A Reserve Bank of India (RBI) panel deciding on guidelines for transfer of the central bank’s surplus funds to the government has further delayed submitting its report, an official said on Monday.
The six-member panel, headed by Former RBI Governor Bimal Jalan, which was originally supposed to submit the report in April, delayed it for the fourth time due to lack of consensus.
The panel will submit the report after the federal budget in July, the official said.
New Delhi, Feb 24: India and the US are committed to defend their people from radical islamic terrorism, resolved to significantly expand defence ties and are working on a "fantastic" trade deal, said US President Donald Trump on Monday while asserting that his country "loves" and is "loyal" to India.
Addressing a huge crowd at 'Namaste Trump' event at the Motera stadium here, the US president, accompanied by his wife Melania and Prime Minister Narendra Modi, talked about India's great tradition of embracing individual freedom, rule of law, dignity of every human being and where people worship side-by-side in harmony.
On his maiden visit, Trump, who was welcomed by Modi on his arrival here, said his country will remain a "loyal" friend of India and called the Prime Minister an "exceptional leader" who works day and night for the country.
"India and the US are committed to fight terrorists and their ideology; that is why my government is working with Pakistan to crack down on terror groups," Trump said in the presence of his family -- daughter Ivanka, son-in-law Jared Kushner-- and top brass of his administration.
"The US will always be faithful and loyal friend of India. Thank you for the spectacular welcome," he added.
He also announced that the two countries will firm up defence deals worth USD 3 billion on Tuesday and that the US will become India's premier defence partner.
"India and US have natural and enduring friendship," Trump said to a cheering crowd.
"We are quickly revitalising our alliances all around world," he said.
Trump said both countries are working on a "fantastic trade" deal, and observed that Modi is a "tough negotiator".
The US president also heaped praises on Modi, saying the Prime Minister is a "living proof" of what an Indian can achieve with hard work as Trump referred to his humble background as a tea-seller, who had a landslide win in the 2019 Lok Sabha polls.
On his part, Modi welcomed Trump to "world's largest democracy" and said a "new history" was being created.
Modi also praised Trump's leadership in containing terrorism.
Trump said as the world's largest economy, India gives hope to all humanity and has become an economic giant.
"There is a difference between a nation that rises by coercion and one that rises by setting its people free -- that is India. India and the US have natural and enduring friendship," he said.
He also touched on India's cultural diversity and riches as he highlighted the success of its blockbuster movies like DDLJ (Dilwale Dulhania Le Jayenge) and Sholay, and its sporting icons like Sachin Tedulkar and Virat Kohli.
He highlighted the boom in the US economy under his presidency and added that India will soon be home to the biggest middle class as it will eliminate extreme poverty in in next 10 years.
On his part, Modi said ties between India and the US are no longer just another partnership but have touched far greater heights.
Welcoming Trump, he said a "new history" is being created.
Visit of President Trump to India with his family shows strong ties between India and the US, said Modi.
New Delhi, May 9: With 3,320 coronavirus cases and 95 deaths reported in the last 24 hours, India's COVID-19 cases rose to 59,662 on Saturday, informed the Union Ministry of Health and Family Welfare.
The total number of active cases in the country now stands at 39,834 while the number of cured/discharged/migrated stands at 17,847.
The country has reported 1,981 deaths so far, added the Ministry.
Maharashtra has the highest number of cases with 19, 063 followed by Gujarat with 7,402 cases and Delhi with 6,318 cases.
Meanwhile, the country continues to remain in a lockdown slated to end on May 17.
New Delhi, Jan 1: In the backdrop of huge losses borne by airlines, Aviation Minister Hardeep Singh Puri has said the government is concerned that more airlines will shut down if predatory pricing continues. "Some predatory pricing is taking place" in airfares, the minister told reporters on Tuesday. Mr Puri however ruled out any plan by the government to regulate airfares. The remarks come amid high competition in the country's aviation sector, struggling against high fuel prices and other operating costs.
"The interesting thing that we have observed is that on Delhi-Mumbai route 20 years ago, the average fare was Rs 5,100. Today, the average fare is Rs 4,600. Some predatory pricing is taking place. It means people are selling tickets below their cost," he said.
"One of our concerns is that if there is predatory pricing, then the airlines will stop functioning. This is not Air India's problem only. Jet Airways got shut down. Before that, it was Kingfisher airline," he said.
IndiGo and SpiceJet - two of the country's biggest airlines - reported losses of Rs 1,062 crore and Rs 463 crore respectively in the second quarter of 2019-20. Other airlines have also reported losses in the quarter that ended on September 30, 2019.
Asked if predatory pricing is the reason for the ill health of the airlines, the minister said, "No, there are many reasons... Predatory pricing is one of the factors. But the profitability of an airline is dependent on (a) number of things."
Asked if the trend of predatory pricing has come down after regular discussion with the airlines, he said, "Yes, absolutely."
"It is (a) constant battle. An ideal situation from an airline's point of view is that they grow and they are also able to charge more fares. What fares they charge is their business. Our advice to them is to charge realistic fares," he added. "It should not be too high. And it is not in your business interests if you are imposing predatory fares."
The minister also said that the government is not planning to regulate fares. "No regulation. It has to be done within deregulation system.... If I put a cap on fare, the airline will start charging that cap only... that cap will become the normal fare... So, within a deregulated structure, we have to bring about an equilibrium," the minister said.
"Government, periodically, at my level or at secretary''s level, we sit down with the main aircraft operators and tell them it is in your interest not to allow such practices which undermine the civil aviation sector."
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