A look back at some of our biggest and best stories from this week. In case you missed them, here's a recap:
IndiGo is no longer the airline it was. It is a massive airline now, India’s largest, with a large number of planes, departures and destinations. It has cornered nearly 59 percent of India’s airline industry’s market share.The data released by aviation regulator Directorate General of Civil Aviation (DGCA) shows that IndiGo last led the charts in July 2018. IndiGo’s OTP has been only better than Air India in three of the last twelve months.
Growth in India's fast-moving consumer goods (FMCG) sector is slowing as households continue to squeeze spending, market research firm Nielsen said, offering a gloomy barometer of the economy.
The drop in GDP is driven by the weakening of household spending which forms nearly two-thirds of the GDP for the country. There is a looming concern on increasing inflationary pressure,” Nielsen said, quoting its retail panel data.India's GDP growth slowed to 5.8 percent from 6.6 percent in the previous quarter.
Union Minister for Road Transport & Highways Nitin Gadkari introduced and passed the revamped Motor Vehicles Act, on July 15, in Parliament, which has the potential to save lives, incentivise innovation and raise revenues. This Bill, first proposed in 2016, has been tabled again with some amendments now, after getting the Union Cabinet’s approval. For Indian pharmaceutical manufacturers, 2019 has so far been a difficult year as many are finding it tough to comply with US Food and Drug Administration (USFDA) norms. At the last count, there are at least four listed companies that have received warning letters in the span of five months.
Days after former Reserve Bank of India chief Raghuram Rajan had raised concerns about the government's foreign borrowing plan, his student and India's chief economic advisor, KV Subramanian, defended the plan, saying that it is an opportunity that comes once in a while.
Rajan had said that the sovereign bond issue proposal has no real benefits and is loaded with risks.“In the Mahabharata, Arjuna and Dronacharya were in the opposite camps but that did not imply that Arjuna lost any respect for Dronacharya. In fact, he went to Dronacharya and sought his blessings before beginning the war. It is the same way," said Subramanian.
The International Court of Justice on Wednesday ruled in India's favour asking Pakistan to reconsider the death sentence of Indian prisoner Kulbhushan Jadhav.By fifteen votes to one, the court rejected the objection of Pakistan to the admissibility of India's application and also found that Pakistan breached the Vienna Convention by not informing Jadhav of his rights.
The Indian Space Research Organisation (ISRO) has rectified the fault in its GSLV-Mark III launch vehicle and the Chandrayaan-2 is scheduled to liftoff on July 22 at 2.43 PM Indian Standard Time, ISRO tweeted on Thursday.The flight was called off on July 15 after a technical snag was noticed in the 'Bahubali' spacecraft, almost an hour before the liftoff. As per the ISRO officials, the glitch in the spacecraft has been rectified.
India would have most probably approached ICAO for such restrictive policies of Pakistan which ultimately is detrimental to the global economy. India in most probability would have made a strong written representation to ICAO calling such action of Pakistan as fowl and near-breach of the ICAO agreement. India also had the option of invoking the mediation/arbitration clause or any other dispute resolution clause contained in the agreement.
Besides a sum of Rs 30 lakh under a group insurance policy, SpiceJet informed the family of Rohit Pandey that it will pay Rs 25,000 a month for 46 years, totalling Rs 1.38 crore. The airline said it will also take care of the education of Pandey’s two sisters.
Pandey died last Wednesday in Kolkata after he was trapped between a plane's landing doors. He was working on a Q400 turboprop plane when the hydraulic landing gear doors closed, SpiceJet said in a statement. When P Rajagopal, breathed his last at 10.39 AM on Thursday, his death brought the curtains down on a controversial yet intriguing legacy that has lasted for nearly four decades. In death, the 72-year-old founder of the world-famous Saravana Bhavan chain of restaurants, will no doubt, be remembered for creating India’s answer to McDonald’s. However, it is common knowledge that this legacy has been sullied by a high-profile murder conviction, the details of which are a nod to what can only be described as the psyche of someone inherently depraved, and unabashedly criminal.