Business
Adani Ports cargo volume jumps 26% leading to record revenue, EBITDA

Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, announced its results for the fourth quarter and year ended March 31.
“FY22 has been a stellar year for APSEZ, with achievement of various milestones for itself and new benchmarks for India’s maritime industry,” said Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ.
The company did a record cargo volume of 312 MMT with Mundra port alone handling 150 MMT, a feat never achieved by any other commercial port in the country.
“The year saw a record number of acquisitions and some large project wins by APSEZ, further reinforced our progress towards the ambition of becoming the largest port globally by 2030,” Adani said.
The developments recorded include purchase of balance 25 per cent stake in KPCL, acquisition of Sarguja Rail Company for its 70 kms railway line asset having an annuity like business model, purchase of 41.9 per cent stake in the Gangavaram port and signing of an agreement with the promoters for acquisition of balance 58.1 per cent stake after the NCLT approval, acquisition of India’s leading third-party marine services provider, Ocean Sparkle Ltd (OSL), LOA from Haldia Port Trust for a 5 MMTPA bulk terminal, highest bidder for the West Bengal government’s greenfield deep-sea port project at Tajpur
The acquisitions in FY22 implied an investment of around Rs 11,400 crore for APSEZ and was successfully managed alongside an organic Capex of around Rs 3,750 crore, while ensuring that the net debt to EBITDA ratio remained unchanged at 3.4x.
“We cruised on our journey of becoming India’s largest transport utility with achievement of various milestones by our logistics business. These include investment in around 100 trains, eight operational MMLPs and total grain silo capacity of around 1.2 MMT, all by FY23. With 5 mn sqft of warehousing capacity under construction/ operation, we are on track to achieve our guided capacity of 60 mn sqft,” Adani said.
During the year, APSEZ concluded two very strategic partnerships ensuring sustainable business growth. The first being a JV with John Keells Holdings & Sri Lanka Port Authority for construction of Colombo West International Terminal-II; and the second is a partnership with Flipkart for the construction of a 5,34,000 sq. ft. fulfilment center in the upcoming logistics hub at Mumbai.
“We are confident of APSEZ’s growth prospects in FY23, given India’s expected GDP growth and boost to India’s Iron and Steel industry from China’s decision to cap its steel production and absence of exports from Russia. APSEZ is fully geared to ride this wave.
“We remain committed to our ambition of making our ports carbon neutral by 2025, and thereafter progress on the net zero journey, for which we will release our plan later this year,” added Karan Adani.
Business
No user fee collection from two-wheelers at toll plazas: Govt

New Delhi, Aug 21: The government on Thursday clarified that no user fee is levied from two-wheelers at the toll plazas on National Highways and National Expressways across the country.
The clarification came after reports surfaced that the National Highways Authority of India (NHAI) would collect user fees from two-wheeler riders at toll plazas.
“In reference to the fake news circulating on social media regarding toll collection from two wheelers on toll plaza, NHAI would like to clarify that no user fee is levied from two wheelers at the Toll plazas on National Highways and National Expressways across the country,” the Ministry of Road Transport and Highways said in a statement.
User fee on National Highways is collected as per the National Highway Fee (Determination of Rates and Collection) Rules, 2008, and there is no proposal to charge toll fee from the two wheelers, the ministry added.
According to the rules, the user fee at toll plazas is charged from four or more wheeled vehicles which include categories like car, jeep, van or light motor vehicle/light commercial vehicle, light goods vehicle or mini bus/bus or truck/heavy construction machinery (HCM) or earth moving equipment (EME) or multi axle vehicle (MAV) (three to six axles)/ oversized vehicles (seven or more axles.
Meanwhile, the NHAI sold over 5 lakh FASTag-based annual toll permits in just four days, collecting Rs 150 crore in revenue. Tamil Nadu recorded the highest number of purchases of annual passes in four days, followed by Karnataka and Haryana.
Further, Tamil Nadu, Karnataka, and Andhra Pradesh recorded the highest number of transactions through FASTag annual passes at toll plazas, a statement by NHAI said. Private vehicles can now use an annual toll pass for free passage through toll plazas on national highways and expressways, with each pass priced at Rs 3,000.
The annual pass is valid for one year from activation or for 200 toll trips, whichever occurs first.
Business
India To Clock 6.7% Growth Outpacing RBI Monetary Policy Committee’s 6.5% Recent Forecast

New Delhi: India is expected to clock 6.7 per cent growth in the first quarter of the current fiscal (FY26), outpacing the RBI Monetary Policy Committee’s (MPC’s) recent forecast of 6.5 per cent, credit rating agency ICRA said on Tuesday.The rating agency report projects the growth in the gross value added (GVA) to stand at 6.4 per cent in Q1 FY2026.
Improved transmission of monetary easing and the recent announcement of forthcoming GST rationalisation may help to shore up urban consumption sentiments ahead of the festive season, the report said.”ICRA estimates a double-digit growth in net indirect taxes (in nominal terms), aided by the sharp uptick in the government of India’s indirect taxes (+11.3 per cent in Q1 FY26 from -3.1 per cent in Q4 FY2025), despite the narrower contraction in its subsidy outgo,” said Aditi Nayar, Chief Economist, Head-Research and Outreach, ICRA.
“Benefitting from robust government capital as well as revenue spending, upfronted exports to some geographies and nascent signals of improved consumption, the pace of expansion in economic activity in Q1 FY2026 is estimated at 6.7 per cent,” Aditi Nayar said.The rating agency estimates the YoY growth in the services GVA to increase to an eight-quarter high of 8.3 per cent in Q1 FY26, from 7.3 per cent in Q4 FY25, supporting the overall GVA expansion in that quarter.
In particular, the combined non-interest revenue expenditure of 24 state governments reported a double-digit YoY growth of 10.7 per cent in Q1 FY26, up from 7.2 per cent in Q4 FY25.Likewise, the Central government’s non-interest revenue expenditure saw a turnaround, recording a YoY growth of 6.9 per cent against a contraction of 6.1 per cent in the previous quarter, said the report.
Rural sentiments, as reflected in the Current Situation Index (CSI) improved further in the July 2025 (100.6) round of the RBI’s Rural Consumer Confidence Survey, reflecting favourable trends in farm output in the last two cropping seasons, and the upbeat outlook for the ongoing kharif season, and a considerable cooling in the rural CPI inflation.
Business
Indian Railways Introduces Discounted ‘Round Trip Package’ To Ease Festive Season Travel

New Delhi: To avoid rush by ensuring hassle-free ticket booking experience during the upcoming peak festive seasons, the Ministry of Railways on Saturday said that it has decided to formulate a ‘Round Trip Package’ on discounted fare and rebates benefit.
The move will facilitate passengers and redistribute the peak traffic for a larger range during peak festival seasons and ensure both sides utilisation of trains, including special trains.
“It has been decided to formulate an experimental scheme named as Round Trip Package for festival rush on discounted fare,” the Railways Ministry stated.
According to the ministry, the scheme will be applicable for those passengers who choose their return journey during the prescribed period.
Under this scheme, rebates shall be applicable when booked for both the onward and return journey for the same set of passengers.
Passenger details of the return journey will be the same as those of the onward journey. Passengers can book their tickets from August 14 for the advance reservation period (ARP) date of October 13.
“An onward ticket shall be booked first for the train start date between 13th October 2025 and 26th October 2025, and subsequently return journey ticket shall be booked by using the connecting journey feature for the train start date between 17th November and 1st December 2025,” the Ministry stated.
However, advance reservation period will not be applicable for booking of return journey.
Other conditions to avail the benefits of the railway’s new special scheme are the booking shall be permissible only for confirmed tickets in both directions, total rebates of 20 per cent shall be granted on base fare of return journey only, booking under this scheme shall be for the same class and same O-D pair for both onward and return journey.
According to Railways, no refund of fare shall be permissible for the tickets booked under this scheme.
This scheme shall be allowed for all classes and in all trains, including special trains (Trains on demand), except trains having Flexi fare.
In addition, no modification will be allowed on these tickets in either of the journeys, and there will be no discounts, Rail travel coupons, Voucher-based bookings, or Passes be admissible during return journey booking on concessional fare.
Passenger can book their ticket via both online and offline modes; however, both onward and return journey tickets must be booked using the same mode (online or offline).
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