Kumbh Mela to generate revenue of Rs 1.2 lakh cr: CII

Vodafone Idea asks 2 years extension for Rs 10,000 crore spectrum payment

Telecom operator Vodafone Idea has sought a two-year moratorium on annual spectrum payment of about Rs 10,000 crore, citing high debt levels and stress on the balance sheet. In five auctions, Vodafone alone had acquired spectrum worth Rs 79,343 crore.  Idea too had purchased spectrum worth Rs 63,597 crore in those auctions.

India's richest 1% gained Rs 2,200 crore a day in 2018: Oxfam

Indian billionaires saw their fortunes swell by Rs 2,200 crore a day last year, with the top 1 per cent of the country's richest getting richer by 39 per cent as against just 3 per cent increase in wealth for the bottom half of the population, an Oxfam study said. Globally, billionaires' fortunes rose by 12 per cent or USD 2.5 billion a day in 2018, whereas the poorest half of the world's population saw their wealth decline by 11 per cent

Kumbh Mela 2019 to generate revenue of Rs 1.2 lakh crore: CII

The mega Kumbh Mela, which began on January 15 and will continue till March 4, is expected to generate a revenue of Rs 1.2 lakh crore for Uttar Pradesh, says apex industry body Confederation of Indian Industry. Although the Kumbh Mela is spiritual and religious in nature, the economic activities associated with it generate employment for over six lakh workers across various sectors

Indians have emerged as the biggest supporters of international aid, with a global public opinion survey putting India on the top when it comes to people expecting their nation to help other countries. The survey released by the World Economic Forum ahead of its high profile annual meeting in this ski resort town on the Swiss Alps showed that South Asian countries, including India, Pakistan and Bangladesh, as also Nigeria and Saudi Arabia exhibit widespread support for international aid.

India likely to overtake UK in the world's largest economy rankings: PwC

India is likely to surpass the United Kingdom in the world's largest economy rankings in 2019, according to a report by global consultancy firm PwC. PwC's Global Economy Watch report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019.

Grofers eyes Rs 200 crore GMV from Grand Orange Bag Days sale

SoftBank-backed Grofers aims to clock gross merchandise value (GMV) of over Rs 200 crore during its ongoing Grand Orange Bag Days (GOBD) sale. The company, which is running GOBD from January 19-27, said it has already crossed GMV of Rs 60 crore on the first day of the sale.

Financial stress may impact flight safety, warns AI pilots' union

Raising concerns over delayed salary payments, a group of Air India pilots has said that financial stress could impact flight safety. The Indian Pilots' Guild, which represents pilots of wide-body planes of Air India, has also told aviation regulator DGCA that the management has continuously used the guise of financial losses to illegally change their service conditions and withhold payment of arrears as well as overtime.

Soon, no e-way bill if GST returns not filed for 6 months

Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods. The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns for two straight return filing cycle, which is 6 months, would be barred from generating e-way bills. Officials believe it would help GST evasion