Centre's FY19 capex may rise 16% to Rs 3.6 trn, as pvt sector remains shy

Finance Minister Arun Jaitley is looking at yet another year of the Central Government and state-owned companies carrying a bulk of infrastructure spending. The Centre’s capital expenditure for 2018-19 could be at least Rs 3.6 trillion (Rs 3.6 lakh crore), about Rs 510 billion (RS 51,000 crore) or 16 per cent higher than 2017-18 budgeted estimates of Rs 3.09 trillion (Rs 3.09 lakh crore).

For PSUs and the Centre combined, the capex target is easily expected to cross Rs 4.2 trillion (Rs 4.2 lakh crore), Business Standard has learnt. This would be the highest for any given year, and would surpass the previous high by a wide margin.

The 2018-19 budget 2018, to be presented by Jaitley on February 1, will be last full budget before the 2018-19. While it isn't expected to be outright populist, it will still be huge on public spending. Officials say higher outlay on projects in sectors such as roads, railways and affordable housing will help in job creation.

Rs 72.38 a litre: Petrol prices hit highest level since Modi came to power

Petrol prices on Tuesday hit the highest level since the BJP government came to power in 2014, and diesel touched a record high of Rs 63.20 a litre, prompting the oil ministry to seek a cut in excise duty.

Petrol price rose to Rs 72.38 per litre in Delhi, highest since March 2014, according to daily fuel price list of state-owned oil firms.

Rates have risen by Rs 3.31 per litre since mid-December. In Mumbai, prices have crossed Rs 80-mark - costliest in the country.

Diesel is being sold at Rs 67.30 in Mumbai, where the local sales tax or VAT rates are higher.

Since mid-December, diesel rates have jumped Rs 4.86 a litre, according to oil companies.

The spurt in rates, caused by the rally in international oil prices, has led to the oil ministry asking the finance ministry for a cut in excise duty in the Union Budget 2018-19, to be presented in Parliament next week.

The reduction sought is part of the pre-Budget 2018 memorandum submitted by the ministry for the consideration of Finance Minister Arun Jaitley, officials said.

Budget 2018: Govt to extend Modi's flagship PMJDY scheme, double overdraft

Prime Minister Narendra Modi's flagship programme, the Pradhan Mantri Jan-Dhan Yojana (PMJDY), which completed three years in August last year and was credited by Finance Minister Arun Jaitley for unleashing the "JAM" -- Jan Dhan, Aadhaar, Mobile -- revolution, is set to receive an extension in Budget 2018, which is just days away. The financial inclusion scheme could also reportedly see the overdraft amount sanctioned under it double as the government looks to use it to promote entrepreneurship by providing bank loans.

A senior government official told financial daily The Economic Times that during Budget 2018, an announcement on PMJDY being extended is expected. The unnamed official added that an increase in the overdraft amount under the scheme could also be on the cards. Stating that the government was looking to "build upon" the scheme, the official told the financial daily that it was also going to "bundle other financial products" under PMJDY, which will see its second phase end in August.

Currently, under PMJDY, one account, preferably belonging to a woman, in every household can avail of an overdraft of Rs 5,000 once the account has been satisfactorily operated for six months. According to the financial daily, this amount could be doubled to Rs 10,000 in order to allow access to easy emergency funds. The above-mentioned government official told the financial daily that such a move was "being discussed" and the overdraft amount could be "doubled" for those accounts that are "receiving direct benefit transfer through one or more schemes". 

Marketers get a new tool: 'WhatsApp Business' launched on Android in India

To help businesses communicate better with their customers in India, WhatsApp has officially rolled out "WhatsApp Business" -- a free-to-download Android app for small businesses -- in the country.

The new app, available on Google Play Store, will make it easier for companies to connect with customers, and more convenient for its users to chat with businesses that matter to them.

"WhatsApp Business", yet to come on Apple App Store in India, asks for a separate phone number from the one users have for their individual WhatsApp account.

"People all around the world use WhatsApp to connect with small businesses they care about from online clothing companies in India to auto parts stores in Brazil," the Facebook-owned app had said in an earlier statement.

"WhatsApp Business will make it easier for people to connect with them, and vice versa, in a fast and simple way," the company added.

"WhatsApp Business" was launched last week in Indonesia, Italy, Mexico, Britain and the US.

The app will help customers with useful information such as a business description, email or store addresses and website.

It will also save time with smart messaging tools like quick replies that provide fast answers to frequently asked questions, greeting messages that introduce customers to your business, and away messages that let them know you're busy.
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Uber may let riders request drivers with high ratings: CEO Khosrowshahi

In a bid to ensure billions of its riders a safe and secure journey, ride-hailing platform Uber on Tuesday said the company may allow people to request drivers with higher ratings.

The company will "do much more with driver ratings… and have users be able to opt in to a higher level of service," Uber CEO Dara Khosrowshahi said during a panel discussion during the World Economic Forum (WEF) here.

"We don't mess around with drivers' ratings. But a 4.9 rating out of 5 does not reflect a driver's state of mind.

There are bad people out there. That only explains how he drove till date. but we are doing our best to make rides safer," Khosrowshahi added.

Uber is currently providing four billion rides a year globally.

Khosrowshahi, however, did not elaborate further on whether users would have to pay a premium for requesting drivers.
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Reliance Jio's Republic Day offer: Now get 50% more data, pay Rs 50 less

Stepping up the tariff war, Reliance Jio has decided to offer 500 MB extra data to its subscribers using 1GB and 1.5GB per day data packs with effect from January 26, according to company sources.
Besides, the telco as part of its 'Republic Day offer' will double the validity of Rs 98 pack to 28 days from the current 14 days from January 26 onwards, they said.
"Jio will always offer more value to its customers, and offer Rs 50 lower price than competition and 50 per cent more data on its plans.

As part of Republic Day offer, all existing 1 GB per day packs enhanced to 1.5 GB per day, 1.5 GB per day packs enhanced to 2 GB per day," sources said.
Bharti Airtel had recently introduced Rs 399 plan offering unlimited calls and 1GB 4G data daily with 84 days validity.
With this new offer, Jio's flagship Rs 399 plan will provide free voice, unlimited 4G data with 1.5 GB daily, unlimited SMS and premium subscription to Jio Apps for 84 days.
The Rs 98 pack at present offers 2.1 GB data at 4G speed and thereafter speed drops to 64 kilobits per second with 14 days validity.
According to Bharti Airtel MD and CEO, India & South Asia, Gopal Vittal, the battle among telecom operators is now for market share and the pressure on tariff will continue for some time even though it is at an unsustainable level at present.
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Budget 2018: Rs 30 bn for 1.2 mn CCTVs in all 11,000 trains, 8,500 stations

In its endeavour to provide a safe and secure travel experience to passengers, India Railways is pitching for the procurement of about 1.2 million CCTV cameras to ensure state-of-the-art surveillance systems in all trains and stations across the country.

The Railways will make a provision of around Rs 30 billion (Rs 3,000 crore) in its budget 2018-19 to install CCTV systems in all 11,000 trains — including premier and suburban services — and all the 8,500 stations in the Indian rail network, to provide safety and security at rail premises.

As per the plan, while each coach will have eight CCTV cameras covering the entry gates, aisle and vestibules, all crucial points at stations will have the systems.

Currently, there are about 395 stations and about 50 trains that are equipped with CCTV systems.

"All mail/express and premier trains, including Rajdhani, Shatabdi, Duronto and local passenger services, will be equipped with the modern surveillance systems in the next two years," said a senior Railway Ministry official.