In a move to enhance passenger experience and address overcrowding, the Indian Railways has announced a significant investment in its non-AC coach fleet. Over the next two fiscal years (2024-25 and 2025-26), the national transporter plans to manufacture a staggering 10,000 new non-AC coaches. This ambitious initiative represents a 22% increase in the total number …
The arrival of the monsoon season has brought much-needed respite to India’s power grid, leading to a significant drop in electricity prices. This welcome relief follows a period of intense heat waves that pushed power demand to record highs, straining the system. Impact of Monsoon Rains Demand Reduction: As monsoon rains swept across the northern …
The Bandhan Employees’ Welfare Trust (BEWT) is embroiled in a contentious dispute. Members are launching a formal challenge against the trust’s management and its founder, Chandra Shekhar Ghosh. This escalation raises serious questions about potential financial irregularities and the organisation’s overall governance. Allegations and Legal Action BEWT members, represented by the Bongo Bhashi Mahasabha Foundation, …
The government has increased the Dearness Allowance (DA) for central employees and Dearness Relief (DR) for pensioners by 4% to 50%, starting January 1, 2024. With this increase, specific allowances are automatically raised by 25% over current rates. The Employees’ Provident Fund Organisation (EPFO) issued a notice highlighting past orders from the Department of Expenditure/DoPT, …
India’s real estate sector witnessed a significant surge in institutional investments during the second quarter (Q2) of FY24 (April-June 2024), reaching a three-year high of $2.5 billion, according to Colliers, a leading global real estate consulting firm. This robust performance is attributed to strong activity in the industrial and warehousing, and residential segments. Industrial and …
The Indian Railways (IR) released positive data for freight operations in June 2024, reflecting growth in both freight loading and revenue compared to the same period in the previous year. Double-Digit Growth in Freight Loading and Revenue June 2024 saw a significant increase in originating freight loading, reaching 135.46 Million Tonnes (MT) compared to 123.06 …
The Ministry of Coal has announced a substantial increase in coal production and dispatch during the first quarter (Q1) of the current financial year (FY25), spanning April 1, 2024, to June 30, 2024. These figures represent a significant improvement compared to the same period in the previous fiscal year (FY24). Production Up by 35%, Dispatch …
The Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a critical issue during a recent meeting with heads of public and select private sector banks. The central bank expressed concern about the widening gap between credit growth and deposit growth in the Indian banking system. Surge in Credit Growth Outpaces Deposit Mobilisation Governor Das …
India’s telecommunications industry is experiencing phenomenal growth, solidifying its position as the world’s second-largest, with a staggering 1.091 billion subscribers (as of April 2024) encompassing both wireless and wireline connections. This translates to a nationwide tele-density of 85.76%. Notably, a significant disparity exists between urban and rural areas. While urban centres boast a robust 133.42% …
The Union government is set to commence a significant spectrum auction on Tuesday, putting airwaves worth Rs 96,300 crore up for grabs. This event will see major telecom players like Bharti Airtel Ltd., Reliance Jio Infocomm Ltd., and Vodafone Idea Ltd. participating, having collectively deposited earnest money of Rs 4,350 crore. Key Details of the …
