Business

Experts have called for a radical overhaul of the entire system to ensure that India gets a modern and world class transport system.

Finance Minister Arun Jaitley could target a record Rs 700 billion in proceeds from asset sales when he unveils his maiden budget.

The RBI would sell relatively impure gold from its own vaults - some dating back to before independence - and receive the equivalent worth of purer yellow metal delivered to the Bank of England, under a scheme outlined on Wednesday.

Gains in shares of Sensex heavyweights RIL, HDFC Bank and Infosys alone contributed over 100 points.

The court asked SEBI to suggest safeguards so that sale of three hotels, if permitted, would be "neat, clean and transparent without any underhand dealings".

"Just creating an environment in which it can expand is enough. We have to work on creating that environment," the RBI governor said.

Former ASG Bishwajit Bhattacharyya had approached the court seeking its direction to the Centre to recover tax dues from Vodafone.

Rupee on Thursday closed at 60.14 against dollar.

The Nifty closed below 7500, down 18.10 points at 7493.35 while the Sensex was down 74.19 points at 25031.32. ONGC gained 5 percent while BHEL was up 3 percent.

"The margins of steel makers are likely to be impacted by the increase in freight rate " an industry analyst said.

Google said that internet today is estimated to be influencing decisions worth about $43 billion.

On the ongoing Iraq crisis, which has impacted global crude oil prices and also affected the rupee, Rajan said this is an area of concern.

Ahead of the Budgetary session, India is hit by six-month high inflation and the Narendra Modi government is under immense pressure to control it.

The world's largest retailer has 20 wholesale outlets in India.

"We fully endorse the government's initiatives of linking FDI with exports from India," CII President Ajay Shriram said.

Total two-wheeler sales during the month of May grew by 16.3 per cent.