The Asian Development Bank (ADB) on Wednesday lowered Indias GDP forecast for the current fiscal by 0.3% to 6.7%, attributing it to tepid growth in the first half, demonetisation and transitory challenges of tax sector reforms. ... Read More

Air Deccan, Indias first domestic low cost airline, is set to relaunch operations this month with what it is remembered for the most Rs 1 airfares.Air Deccan, founded by GR Gopinath in 2003, merged with Vijay Mallyas Kingfisher Airlines in 2008 but was grounded in 2012 under financial duress. ... Read More

More amendments to the Insolvency and Bankruptcy Code (IBC), including a provision to ensure that bankruptcy proceedings of the subsidiaries of the same company are referred to one bench of the National Company Law Tribunal, are in the works, top sources in the government have said.The amendment will also ensure that the same insolvency professional handles the insolvency proceedings of all the subsidiary firms of a company, an official in the know of the matter said. He refused to be identified as he is not authorised to speak to the media on the issue. ... Read More

Bharti Airtel Ltd and another group entity will sell a combined 20% in its satellite TV unit, Bharti Telemedia Ltd, to private equity firm Warburg Pincus for $350 million as Indias largest telecom company seeks to cut debt.The transaction will see Bharti Airtel sell 15% in Bharti Telemedia and another Bharti entity sell a 5% stake to an affiliate of the private equity firm, the telecom company said in a statement on Tuesday. ... Read More

Reacting to the US announcement recognising Jerusalem as Israels capital, India today said its position on Palestine is independent,consistent and not determined by any third country. External Affairs Ministry spokesperson Raveesh Kumar said Indias position on Palestine is shaped by its own views and interests and not determined by any third country. Indias position on Palestine is independent and consistent. It is shaped by our views and interests,and not determined by any third country,he said responding to a query regarding Indias position on recognition of Jerusalem as the capital of Isr ... Read More

With the campaign for the first phase of Gujarat Assembly elections drawing to a close, politicians from across the spectrumfrom Prime Minister Narendra Modi to Congress Vice-President Rahul Gandhiscurry to address back-to-back rallies. But one man missing from the spotlight is Shankarsinh Vaghela. The former Gujarat Chief Minister, who split from the Congress in July this year and formed the breakaway Jan Vikalp Morcha, has been conspicuous by his absence on the campaign trail. It is not that Vaghela is not travelling the state. But instead of holding rallies, he is holding meetings with sym ... Read More