HYDERABAD: Air India may recruit about 500 pilots and over 1,500 cabin crew in next two to three years to meet the requirement as the fleet size is expected to increase considerably, a senior official has said.

"We are planning to have 700 more pilots in the next two to three years keeping in view the fleet expansion. From last August till now, we have already recruited 250 pilots. So about 500 more pilots we are going to recruit.

The domestic equity markets staged a strong comeback after Tuesday's losses in early trade as the BSE Sensex recovered by about 144 points in early trade, following widespread buying amid rising hopes over passage of the GST bill in Parliament.

Moreover, sustained foreign fund inflows and a mixed trend at other Asian markets on caution ahead of the US Federal Reserve's policy decision later in the day, influenced market sentiment.

German carmaker Volkswagen is in talks with Tata Motors to partner for a small car development programme, a German business magazine Manager Magazin has reported.

While the talks are in the initial stages, Tata Motors might partially or fully develop a low-cost small car to be later sold under the Volkswagen brand in emerging markets such as India, stated the report.

Government has collected Rs 3,901.78 crore last fiscal from the 0.5% Swachh Bharat cess which is imposed on all taxable services. "The amount of Swachh Bharat Abhiyan cess collected in financial year 2015-16 is Rs 3901.78 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Rajya Sabha on Tuesday.

MUMBAI: Market benchmark Sensex broke below the 28,000-mark on Tuesday after sliding 119 points as investors booked profits in recent winners amid caution ahead of key meetings of central banks in the US and Japan.

The broader NSE Nifty also failed to maintain the key 8,600-level.

New Delhi: India’s largest car maker Maruti Suzuki India Ltd on Tuesday said net profit for the quarter ended 30 June rose by 23% to Rs.1,486.20 crore, beating estimates, as it benefited from higher sales and lower material costs.

Net sales rose 12.1% from a year ago to Rs.14,654.50 crore.

Mumbai: The Indian rupee on Tuesday erased all the morning losses and was trading little changed against the US dollar, as the mood turned cautious ahead of policy meetings of key global central banks scheduled later this week.

Traders are also cautious as the Constitution amendment bill to amend the goods and services tax (GST) is likely to be listed this week, after finance minister Arun Jaitley meets state finance ministers on Tuesday.

Mumbai: Solar power tariffs in India, which have fallen below Rs.5 per unit since November, are expected to fall further as the industry doubles volumes every year and the cost of producing power continues to decline.

At least three industry experts Mint spoke to said that tariffs will fall to as low as Rs.3.5 per unit in three years owing to better use of technology, higher volumes, increased competition and a favourable regulatory environment.

Infrastructure spending has picked up in the country and NHAI is executing 205 projects including 18 worth Rs 13,500 crore on hybrid annuity mode, its Chairman Raghav Chandra said.

“Infrastructure spending is going up and highways sector has stimulated growth. Cement and steel sectors sales have increased by 5 per cent each while bitumen sales have risen by 35 per cent.

State-owned ONGC and private sector Cairn India have demanded halving of cess on domestic crude oil production saying their burden has actually gone up after Finance Minister Arun Jaitley’s Budget exercise aimed at reducing the levy. Oil and Natural Gas Corp (ONGC) paid Rs 4,500 per tonne cess on crude oil it produced from almost all its fields including prime Mumbai High, till February 2016. In Budget for 2016-17, Jaitley changed the cess from specific levy to an ad valorem rate of 20 per cent of crude oil price.

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