Briefly Business: Four-year loss by power firms at Rs 1.79 lakh cr

The Shunglu Committee on financial health of power distribution companies said that they incurred a loss of Rs 1,79,000 crore before subsidy during 2006-10

Four-year loss by power firms at Rs 1.79 lakh cr

NEW DELHI: The Shunglu Committee on financial health of power distribution companies said that they incurred a loss of Rs 1,79,000 crore before subsidy during 2006-10 and called for radical action to revive their fortunes.

BWA spectrum auction likely post BSNL return

NEW DELHI: The Telecom Ministry is likely to auction one slot of broadband wireless access (BWA) licence spectrum on pan-India basis after getting back airwaves from the state-run PSU BSNL. The Department of Telecom (DoT) has given in-principle approval to the proposal of BSNL to surrender its BWA licence in nine circles.

Fiat India to hike car prices by 2% from Jan

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NEW DELHI: Car maker Fiat India Automobiles on Sunday said it will hike prices of its sedan Linea and hatchback Punto by about two per cent from January next year due to rising input costs.

DHI seeks 10% duty on imported power gear

NEW DELHI: The Department of Heavy Industry (DHI) has pitched for higher customs duty of 10 per cent on imported power gear to protect the interests of BHEL and other domestic manufacturers.

GDP can be raised to 9% through reforms: Godrej

HYDERABAD: GDP growth rate can go up to 9 per cent if the government implements reforms such as Goods and Services Tax,Godrej Group Chairman Adi Godrej said.

Funding carriers in red not good strategy: IATA

Geneva: IATA Director General and CEO Tony Tyler said that the current aviation environment was difficult and airlines were keeping balance sheets in order rather than invest in other airlines. Given that domestic airlines were in a mess,investing in them was not a good strategy.