IRCTC is looking at 10% market share in the first 6 months in the airline ticket booking space, an IRCTC official said
New Delhi: Air travellers can also make use of IRCTC to book their air tickets online, as the railway PSU is slated to launch a dedicated website next week offering a "lenient" cancellation policy with no service charge, reports PTI.
The website -- air.irctc.co.in -- is slated to be launched next week, said an IRCTC official, adding the site will provide "live best rates" of all major airlines for booking.
IRCTC, which has one of the largest e-commerce capabilities in Asia Pacific, books around 3.65 lakhs of railway tickets every day, which is roughly 45% of the total reserved tickets of Indian Railways.
IRCTC is looking at 10% market share in the first 6 months in the airline ticket booking space, the official said.
There are around 1,50,000 airline seats available daily out of which around 40%-50% or 70,000-75,000 seats are sold online, he said.
He said IRCTC is already in talks with certain banks under which passengers, who use their credit cards, will get a cash back offer.
"While other online travel agencies charge around Rs500 - Rs750 on cancellation of tickets, ours will be much less," he said.
The other unique aspect of the website is that there will be no service charge levied by IRCTC unlike other travel agencies and there would be a quick refund process.
TeamLease said double-digit salary hikes are likely this year and the average salary growth in India could hit near 20% levels in 2012
New Delhi: Notwithstanding sluggish economic conditions, India Inc is expected to dole out double-digit salary hikes this year and overall rise in pay packets could go up to 20%, says a survey, reports PTI.
Staffing firm TeamLease Services said in a report that Indian companies are now recognising the need to strike a balance between the need for talent and salary package.
TeamLease said double-digit salary hikes are likely this year and the average salary growth in India could hit near 20% levels in 2012.
"With businesses striking a right balance between talent and pay, India Inc seems to be finding fixes for many of the issues plaguing the employment market like talent acquisition and retention," TeamLease Services senior vice president Sangeeta Lala said.
Noting that Indian job market is fast maturing, the report said that companies are hiring and rewarding the right talent.
Citing instances, TeamLease said hiring in IT sector grew by almost 20% year-on-year in 2011.
At the same time, the industry managed to retain top talent without having to increase salaries much.
"Healthcare is the industry with the healthiest growth in salaries in 2011, touching a whopping 19% average rate of growth across profiles and cities. Interestingly, attrition hit a three-low in 2011," the survey said.
Finance minister Pranab Mukherjee, who will assume chairmanship of ADB, said the global issues which have a bearing on the Asian economies would be discussed at the meeting
Manila: With the Indian rupee fast losing value against the US dollar, Indian finance minister Pranab Mukherjee blamed volatility in global commodity prices for currency depreciation and said deteriorating balance of payment (BoP) situation in several Asian countries also put stress on currencies, reports PTI.
“In several Asian countries, except China, the BoP is under stress which leads to currency depreciation,” Mr Mukherjee told reporters.
Mr Mukherjee, who is attending the 45th annual meeting of the Asian Development Bank (ADB) Board of Governors said certain fundamentals in the Indian economy have to be corrected against the backdrop of the rating agency Standard and Poor’s downgrading outlook for the country’s sovereign rating. However, he did not elaborate.
Mr Mukherjee, who will assume chairmanship of ADB, said the global issues which have a bearing on the Asian economies would be discussed at the meeting.
Although the meeting began on 2 May 2012, Philippine president Benigno Aquino III formally inaugurated the plenary marked by impressive ballets by the local artists.
India’s currency has suffered sharp losses by over 15% in the last few months, leaving a bruising impact on the country’s imports, which mainly comprise crude oil. The rupee depreciation has resulted in the higher landed cost of the crude oil by the state-owned oil marketing companies, which have not been able to pass on the price increase to the consumers.
With the prospect of the subsidy bill shooting the budgeted target of Rs1.8 lakh crore, global rating agency Standard and Poor’s has downgraded the country’s sovereign rating outlook.
The Reserve Bank of India (RBI) has expressed concern over the worsening current account deficit, which is likely to be 3.5% to 4% of the GDP for 2011-12.
Asked about the rating outlook downgrades of the India’s sovereign rating, Mr Mukherjee said that the fundamentals of the economy have to be corrected. “Fundamentals...we shall have to correct...” he said without elaborating what action the government was mulling.
He said the domestic issues cannot be discussed since Parliament is in session.
The main areas of concern for Mr Mukherjee were Eurozone and Japan, as they provide a big market to the merchandise from the developing world.
The Indian finance minister who will assume chairmanship of the ADB Board of Governors for a year, said the Asian region is still doing better than the developed countries.
“We will review the world economy... the (Asian) region is one of the important contributors to the world economy,” he said. India will be hosting the ADB annual meeting next year in New Delhi.
According to ADB Bank president Haruhiko Kuroda, Asia’s economy this year is set to grow by 6.9% and 7.3% next year. It is the internal demand within the region that is driving the Asian growth.