The Calicut-Mumbai Air India flight will depart from here at 8.55 AM with effect from tomorrow, as per the revised scheduled announced by the airline

Currently the flight departs here at 7.45 AM.

The tremendous backlog of pending direct tax litigation has been a bane for the government and taxpayers alike—the locking-up of precious tax revenue for the government and unrelenting uncertainty on the tax front for the taxpayers. The finance minister stated in his Budget speech that reducing litigation and providing certainty in taxation would be one of the “nine pillars” of his tax proposals for FY17. This thought process is enshrined in the various amendments proposed to the Income-tax Act, 1961.

Arvind Kejriwal, Chief Minister, Delhi has featured in Fortune's list of World's Greatest Leaders topped by Amazon CEO Jeff Bezos.

Kejriwal has ranked 42 out of the 50 leaders in the list.

The West Indies produced an all-round performance to outclass South Africa by three wickets in a Group 1 clash at the Vidarbha Cricket Association (VCA) stadium here on Friday to enter the semi-finals of the World Twenty20 cricket tournament.

Batting first, South Africa were never in control of the game as they lost wickets at regular intervals to post a meagre total of 122/8 in 20 overs.

The coal ministry is mulling reduction of Coal India’s production target for the next fiscal with the country likely to end FY16 with a stockpile of 90 million tonne — 55 MT at CIL’s pitheads and 35 MT inventory at power plants.

The ministry has set the target for CIL to produce 605 MT in FY 17. So with a pithead stock of 55 MT, the coal behemoth will have to make plans for selling 660 MT.

Russian government has approved ONGC Videsh Ltd's deal to buy 15% in the country's second biggest oil field of Vankor from Rosneft for $1.268 billion (nearly Rs 8648.57 crore) .

OVL, the overseas arm of the state explorer Oil and Natural Gas Corp (ONGC), had in September last year signed an agreement to buy 15% stake in Vankorneft, the developer of the Vankor oil and gas condensate field in Turukhansky district of Krasnoyak Territory in Russia.

GMR Infrastructure Limited and GMR Highways Limited have signed a share purchase agreement with joint venture partners to divest 51 per cent stake in GMR OSE Hungund Hospet Highways Private Limited (GOHHHPL).

GMR OSE operates the Hungund-Hospet section of National Highway No 13, which is a 99-kilometre (km) project in Karnataka, which was won by the GMR OSE consortium in 2010 on 'design, build, finance, operate, and transfer' basis.

With more leeway to fund projects and tax exemptions, L&T Infra Debt Fund (IDF), L&T Finance group's infrastructure refinancing arm, plans to raise up to Rs 2,750 crore through debentures.

The money raised via non-convertible debentures (NCDs) will be used to fund infra projects, including those in renewable energy sector (wind and solar). L&T Financial services group will also inject more equity in the subsidiary to support expanding asset base. L&T IDF's net worth was Rs 615 crore (including additional equity infusion in December 2015) and debt of Rs 775 crore.

Five regional rural banks (RRBs) in the Northeast under the sponsorship of State Bank of India (SBI) are to soon be merged.

The five RRBs are Arunachal Pradesh Rural Bank, Meghalaya Rural Bank, Mizoram Rural Bank, Nagaland Rural Bank and Langpi Dehangi Rural Bank (based in Assam), said a source close to the development.

The Indian economy is expected to grow at 7.2% in 2016-17, a tad lower than Central Statistics Office's advance estimates of 7.6% in the current fiscal due to weak investments and external headwinds, says BMI Research.

"We forecast India's real GDP growth to come in at 7.2% for FY17 from our estimate of 7.3% in FY16 and 7.2% in FY15," the research firm said in a statement.

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