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Big news related to Mukesh Ambani

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Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.

Following Dhirubhai’s death in 2002, Mukesh and his younger brother Anil assumed joint leadership of Reliance.

While the elder brother took over as the chairman and managing director, Anil was named vice chairman and joint managing director.

The brothers, however, feuded over control, leading to a split with Mukesh assuming control of the gas, oil, and petrochemicals units as RIL, while Anil got telecommunications, power generation, and financial services units through a demerger.

In 20 years that Stanford University-drop out Mukesh, 65, has been at the helm of RIL, the company has re-entered the telecom business, diversified in retail and new energy, and raised a record Rs 2.5 lakh crore selling minority interests during the Covid lockdown.

Here is his journey in numbers at the helm of RIL:

* Market capitalization grew at an annualized rate of 20.6 per cent in the last 20 years from Rs 41,989 crore in March 2002, to Rs 17,81,841 crore in March 2022.

* Revenues grew at an annualized rate of 15.4 per cent from Rs 45,411 crore in FY 2001-02, to Rs 792,756 crore in FY 2021-22.

* Net profit grew at an annualized rate of 16.3 per cent from Rs 3,280 crore in FY 2001-02, to Rs 67,845 crore in FY 2021-22.

* Exports grew at an annualized rate of 16.9 per cent from Rs 11,200 crore in FY 2001-02, to Rs 254,970 crore in FY 2021-22.

* Total assets grew at an annualized rate of 18.7 per cent from Rs 48,987 crore in March 2002, to Rs 14,99,665 crore in March 2022.

* Net worth grew at an annualized rate of 17 per cent from Rs 27,977 crore in March 2002, to Rs 645,127 crore in March 2022.

* RIL added Rs 17.4 lakh crore to investor wealth during these two decades, which is an average of Rs 87,000 crore every year.

According to Motilal Oswal’s 26th annual wealth creation study, the company has emerged as the largest wealth creator, over 2016-21, creating wealth to the tune of nearly Rs 10 lakh crore and breaking its own previous record.

Diversification

Reliance started several new businesses in these two decades – telecom arm Jio started operations in 2016, retail in 2006, and new energy in 2021.

From a single oil refinery in 2002, Jamnagar is now the world’s largest single-location refining complex. During this period, RIL doubled oil refining capacity, adding the unique capability to convert the worst of crude oils into the best of exportable fuels. It also added some of the world’s largest downstream units.

Its traditional business of petrochemicals too flourished and expanded many-fold in the last two decades.

Reliance’s oil and gas exploration (E&P) business made the first hydrocarbon discovery in late 2002 and production started in 2009. The firm got UK’s bp plc as an investor in the E&P business in 2011 and in recent months, it brought to production the second set of discoveries.

RIL brought BP, one of the global petroleum industry leaders, as a partner in its Indian fuel retailing business.

Reliance Mobility Solutions has brought the latest technology and offerings for consumers at petro-retail outlets through the Jio-BP brand.

It aims to offer a new experience in buying fuel with high-quality service and making the retail outlets future-ready with charging and battery swap facilities.

Reliance set the foundation for New Energy Business committing over Rs 75,000 crore investment in three years to set up five uniquely integrated Giga Factories at Jamnagar with the world’s latest technology.

This will have a first-of-its-kind ‘quartz-to-module’ solar panel facility. The ultimate aim is to emerge world’s lowest-cost producer of solar energy and green hydrogen.

Reliance has set a target to become Net Carbon Neutral by 2035, contributing to India’s net carbon zero mission. It will start 10GW of solar PV cell and module factory by 2024, to be scaled up to 20GW by 2026.

By 2025, RIL plans to generate its entire round-the-clock (RTC) power and intermittent energy for Green Hydrogen from captive solar power plants.

Reliance set a record for capital fundraising in FY21. It raised more than Rs 2.5 lakh crore through a rights issue and minority stake sales in Jio Platforms and Reliance Retail Ventures to global marquee investors such as Facebook and Google. During FY2021, Reliance was the single-largest foreign direct investment (FDI) generator for India.

After the launch of Jio, India became the data capital of the world and the cost of data/GB fell from Rs 500 to Rs 12. India’s ranking in Broadband data consumption moved from 150 in 2016 to No.1 in 2018 thanks to Jio.

Born in Aden, Yemen, where his father worked as a gas station attendant, Mukesh Ambani earned his bachelor’s degree in chemical engineering from the University of Bombay (now the University of Mumbai) and subsequently pursued a master’s degree in business administration from Stanford University.

He, however, left the program in 1981 to join the family business, where he worked to diversify the company, foraying into communications, infrastructure, petrochemicals, petroleum refining, polyester fibres, and oil and gas production.

In 2007, he became India’s first rupee trillionaire. He, however, has lost the richest Indian tag to a fellow Gujarati businessman, Gautam Adani in recent months.

Reliance Foundation, backed by Reliance Industries, came up in 2010 to spearhead the company’s philanthropic initiatives under the leadership of his wife Nita. It works in the areas of rural empowerment, nutrition security, ecological conservation, education, and sports.

Reliance Foundation is India’s biggest corporate social responsibility initiative by reach, as well as by spend.

Business

No user fee collection from two-wheelers at toll plazas: Govt

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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.

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India To Clock 6.7% Growth Outpacing RBI Monetary Policy Committee’s 6.5% Recent Forecast

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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.

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Indian Railways Introduces Discounted ‘Round Trip Package’ To Ease Festive Season Travel

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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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