India reaffirms commitment to promoting blue economy

New Delhi, July 18 : Ahead of this year’s Delhi Dialogue, the premier annual track 1.5 event to discuss politico-security, economic and socio-cultural engagement between India and the Asean bloc, India on Wednesday reaffirmed it commitment to promote the blue economy. “Asean (Association of Southeast Asian Nations)-India cooperation in the field of blue economy has […]

Bengal suggests alternative devolution formula to Finance Commission

Kolkata, July 18 : The West Bengal government on Wednesday said it has suggested an alternative formula to the 15th Finance Commission for devolution based on locational complexities, social backwardness, continuation of revenue deficit grants and others. The panel, headed by its Chairman N.K. Singh, was on a three-day visit to the state. “In their […]

Cabinet changes pre-NELP oil, gas block terms to boost output

New Delhi, July 18 : The Cabinet on Wednesday made changes to the pre-1999 New Exploration Licensing Policy (NELP) oil and gas contracts to allow proportionate sharing of royalty and cess between the operators of an area, without putting the entire burden on state-run explorers ONGC and Oil India. Briefing reporters here after a Cabinet […]

LIC Board approves 51% stake purchase in IDBI Bank, seeks more due diligence

New Delhi/Chennai, July 16 : The board of state-run Life Insurance Corporation (LIC) on Monday approved the acquisition of up to 51 per cent stake in the government-owned IDBI Bank, Economic Affairs Secretary S.C. Garg said. Meanwhile, a source told IANS that the Board also asked the LIC Chairman to do little more due diligence […]