Podcast: Arun Jaitley resumes charge of Finance Ministry today : Bulletin: Business Today
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Podcast: Arun Jaitley resumes charge of Finance Ministry today

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February 15, 2019

Upper caste Hindus own 41 per cent of India's total wealth: study

Everybody knows that income inequality in India not only has a rural-urban and gender bias but also a socio-religious component. What's worrying is the extent of disparity in the latter. According to a recent study, titled Wealth Ownership and Inequality in India: A Socio-religious Analysis, the population belonging to Hindu High Castes (HHCs) boasts four times more wealth than those classified as Scheduled Castes (SCs). Moreover, HHCs hold 41% of the total wealth in the country, which is almost double their population size of 22.28%.
India to produce 7.5 lakh Kalashnikov rifles in joint venture with Russia

The iconic Kalashnikov rifle, also regarded as world's favourite assault rifle, will now be made in India. The Prime Minister Narendra Modi led central government on Thursday approved a proposal to manufacture 7.5 lakh Kalashnikov rifles to be built by Ordnance Factory Board in a joint venture with a Russian firm, suggested media report.

Pulwama terror attack: Death toll reaches 44; internet services suspended in Jammu

The death toll in the Pulwama terrorist attack has reached 44, making it one of the deadliest terrorist attacks in the history of Jammu and Kashmir. A convoy of around 2,500 CRPF (Central Reserve Police Force) personnel was targeted by a Jaish-e-Mohammed suicide bomber, Adil Ahmad Dar. He was driving an SUV carrying around 200 kg IED explosives. The vehicle rammed into one of the buses carrying jawans, leaving several body parts strewn around the area.

US experts on South Asia suspect ISI role in Pulwama terrorist attack

The involvement of Jaish-e-Mohammad in Thursday's terrorist attack in Jammu and Kashmir has raised serious questions about the role of the Pakistani spy agency, ISI, in it, American experts on South Asia have said. The experts said the terror strike shows the United States has failed to persuade Pakistan to act against Jaish-e-Mohammad and other terrorist groups

Arun Jaitley resumes charge of Finance Ministry today

Union minister Arun Jaitley, who returned from the US last week after undergoing medical treatment, has resumed charge of the Finance Ministry today. After resuming the charge he would also attend a meeting of the Cabinet Committee on Security to discuss the Pulwama attack that killed at least 37 CRPF personnel.  In his absence, the charge of the Finance Ministry was given to Railway Minister Piyush Goyal, who presented the sixth and the last budget earlier this month before the general elections.

IndiGo cancels around 130 flights for Friday

Acute shortage of pilots along with NOTAMs at some airports forced IndiGo to cancel around 130 flights for Friday. The cancelled flights account for almost 10 per cent of the airlines operations, the source said. An Indigo spokesperson, however, said the airline has not cancelled any additional flights other than the schedule cancellations. The Gurugram-based budget carrier operates over 1,300 flights per day with a fleet of 210 planes.

Airbus abandons iconic A380 superjumbo, lacking clients

European plane maker Airbus said Thursday it will stop making its superjumbo A380 in 2021 for lack of customers, abandoning the world's biggest passenger jet and one of the aviation industry's most ambitious and most troubled endeavors. Barely a decade after the double-deck, 500-plus-seat plane started carrying passengers, Airbus said that key client Emirates is cutting back its orders, and as a result, "we have no substantial A380 backlog and hence no basis to sustain production." The decision could affect up to 3,500 jobs and already cost plane maker 463 million euros (about $523 million) in losses in 2018, Airbus said.


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