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Govt proposal for 1-hour flights ticket for Rs 2,500

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New Delhi-There is a proposal of Govt to ensure that only Rs 2,500 is charged per air ticket for one-hour flights.The government also said in Lok Sabha, it will hold consultations with the airlines to explore the possibility of curbing the menace of charging exorbitant airfares during emergency situations. Civil aviation minister Ashok Gajapathi Raju said that  ministry will commence the process of consultations with stakeholders, including airlines, to explore possibilities of containing fares.

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International Monetary Fund retains India growth forecast at 7.5% for 2016-17

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MF has retaineds growth forecast for India at 7.5 percent for this year.International Monetary Fund  officials said, in its latest Regional Economic Outlook for Asia and the Pacific, that this growth momentum is expected to be underpinned by private consumption, which has benefited from lower energy prices.An incipient recovery in private investment is expected to help broaden the recovery. But the IMF also observed that weak exports and sluggish credit growth will weigh on the economy of India.

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