The arrest of Nationalist Congress Party’s (NCP) Member of Parliament (MP), Padamsinh Patil, has raised more questions than answers. The main question is: why was Patil desperate to get rid of his cousin and one-time right-hand man Nimbalkar, that too when Nimbalkar was allegedly already implicated in number of cases by Patil and was also jailed for six months? For this, one has to...

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Investor Interest

Budget Special : No increase in passenger rail fares, slew of sops in budget

30 July 2009

In a thanks-giving budget, Railway Minister Mamata Banerjee Friday proposed no increase in passenger fares or freight tariff while announcing a slew of measures including launch of 12 non-stop point-to-point long-distance trains and air-conditioned double-decker coaches for inter-city travel, reports PTI.

Banerjee proposed an outlay of Rs407.5 billion for 2009-10. Out of this,...

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Investor Interest

MERC stays its own order on Reliance power tariff

30 July 2009

In an unprecedented move, the state power regulator has stayed its own tariff order that allowed Reliance Infrastructure (RelInfra), earlier known as Reliance Energy, to hike the electricity charges by 7% for residential consumers from July.

The Maharashtra Electricity Regulatory Commission (MERC), which was asked by the state government to review the power tariff structure of...

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