Budget 2020

Cabinet approves PLI plan for telecom

Incremental output estimated at ₹2.4 lakh cr., MSMEs to get a leg up; 40,000 jobs may be created The Union Cabinet on Wednesday approved the production-linked incentive scheme for the telecom sector with an outlay of ₹12,195 crore over five years. The scheme, which aims to make India a global hub for manufacturing telecom equipment, […]

Budget 2020

Cabinet approves MoU with Uzbekistan for cooperation in solar energy

The Union Cabinet on Wednesday gave ex-post facto approval to a memorandum of understanding (MoU) between India and Uzbekistan for cooperation in the field of solar energy. “The Union Cabinet, chaired by Prime Minister Narendra Modi was apprised of signing of Memorandum of Understanding (MoU) between India and Uzbekistan for cooperation in the field of […]

Budget 2020

NTPC net dips 7.7%, approves buy-back

NTPC on Monday reported a 7.7% decline in consolidated net profit to ₹3,494.61 crore for the September quarter mainly on higher expenses. Net profit was ₹3,788.11 crore in the second quarter of 2019-20, NTPC said in a filing. Total income rose to ₹28,677.64 crore in the quarter, from ₹26,568.62 crore a year earlier. Gross power […]

Budget 2020

Jet Airways hits upper circuit after CoC approves resolution plan

Shares of Jet Airways (India) hit upper circuit on Monday after the airlines’ committee of creditors (CoC) on Saturday approved the resolution plan submitted by the consortium of UK’s Kalrock Capital and UAE-based entrepreneur Murari Lal Jalan under the insolvency resolution process. The plan was approved after the conclusion of the e-voting on the proposal, […]