11843 stories by IPA Staff
Govt Backs Banks' Entry Into Commodity Futures Trading
NEW DELHI: The government is set to remove the legal hurdle in the entry of banks into commodity futures trading, despite the Reserve Bank ofIndia’s reservations on the issue. Banks can now trade in shares, bonds and currencies, but Section 8 of the Banking Regulation Act prohibits them from...
Retrospective Taxation Likely To Spare Most Foreign M&A Deals
New Delhi: The controversial provision to retrospectively tax indirect transfer of Indian assets through deals executed overseas is likely to spare a large number of transactions by excluding those where the Indian assets account for less than half the total deal size. The retrospective amendment to the Income-Tax Act,...
Economic Slowdown Proving Costly To UPA-2
By Nitya Chakraborty The threat to the UPA-2 government headed by Dr. Manmohan Singh is now real. The growth data released on May 31 showing all round decline of the Indian economy has only accentuated the crisis in the centre. It has come at the worst possible time for...
Punjab Economy In Shambles
By B.K. Chum in Chandigarh Can the rot that has pushed Punjab’s economy to its terminal stage be stemmed? The question has gained importance because of the latest revelations about the growth rates. According to states 2011-12 growth data submitted by the Union ministry of statistics to the Planning...
Policy Paralysis Contributes To Slow Growth
By Anjan Roy India’s economy is now faring worse than during the global financial melt-down of 2008. That speaks a lot about the reverse turn in the fortunes of Indian economy in a short time. It reflects the policy drift that we have been witnessing for the last couple...
Indian Tea Becoming A Craze In China
From Ashis Biswas KOLKATA: This is an utterly unexpected twist in the story of tea as a major international commodity– some Chinese now prefer to drink “black “ Indian tea instead of their own home grown green variety ! Nor is this a passing phase. Whenever the Chinese show...
Pranab, Sharma Differences Persist On Export Sops
NEW DELHI: The finance and commerce ministries have not yet found common ground on exporter sops a week before the foreign trade policy is to be announced. While the finance ministry has not yet given its consent to the popular interest rate discount scheme, fearing it can be a...
P-Note Investments At All-Time Low In April
MUMBAI: Foreign investors taking exposure to Indian stocks through participatory notes (PNs) have pared their positions. The government’s clarification that it would not tax PN holders did little to boost the prospects of these offshore derivatives in April. The share of p-notes in total investments by foreign institutional investors...
Trade Deficit Dips Marginally, Exports Rise 3.23 Per Cent To $24.45 Billion In April
NEW DELHI: India’s trade deficit for April declined marginally to $13.48 billion compared to the March 2012 figures, while the exports grew by 3.2% to $24.45 billion on account of recent depreciation in the rupee despite a slowdown in demand from overseas markets like the US and Europe. The...
PM’s Investment Tracker System To Speed Up Projects
NEW DELHI: A day after official data showed the slowest GDP growth in nine years and amid rising concerns over the persistent slump in investment demand, Prime Minister Manmohan Singh on Friday set up an investment tracking system to ensure speedy implementation of projects with outlays of R1,000 crore...
Power Demand Reaches New High, Loadshedding Continues
NEW DELHI: The power demand in the city today breached all previous records, touching a new high of 5,178 mega watt as loadshedding continued to haunt people in the blistering heat due to mismatch in demand and supply. The previous highest power demand in the city was recorded only...
Oil Companies Losses On Diesel And Cooking Fuels Decline
NEW DELHI: State-owned oil companies have seen losses on diesel and cooking fuels drop by over 28% following a decline in international oil rates. Oil PSUs, which at the beginning of the fiscal were losing Rs 670 crore per day on selling diesel, domestic cooking gas LPG and kerosene...
Indian & South Korean Naval Forces Will Start Joint Military Exercise Tomorrow
Sources within the Indian Navy (IN) informed the media that the joint naval operation, conducted by both the Indian and South Korean navies will start from tomorrow onward, in the Korean port city ofBusan. An official with the Indian Embassy inSouth Koreasaid that the Indian naval fleet had reached...
SpiceJet scouts for foreign stake buyer as losses mount in Q4
New Delhi: The Sun Group-promoted SpiceJet is keen on offloading a part of its stake to an overseas investor as soon as the government gives green signal to the FDI policy, allowing foreign airlines to pick up to 49% stake in domestic airlines. The SpiceJet board has already evolved...
Gokarn-speak raises rate cut hopes
MUMBAI/KOCHI: The prospects of monetary easing in the mid-quarter policy review on June 18 brightened on Friday. Apart from falling commodity prices and an economic slowdown (on Friday’s Brent crude price fall and yesterday’s GDP growth figures were the most immediate reasons), the market took comfort from Reserve Bank...
FIPB Starts Clearing Investments In Drug Sector Again
NEW DELHI: The Foreign Investment Promotion Board (FIPB) has resumed clearing investment proposals in Indian drug companies, a move that will revive deal flow in the Rs 62,000 crore domestic pharma sector. The board has cleared four proposals of foreign financial investors, but again deferred a decision on stake...
Cabinet Clears New Telecom Policy
NEW DELHI: The Union Cabinet on Thursday approved the National Telecom Policy 2012 that aims to do away with roaming charges, introduce a pan-India mobile permit that will enable mobile phone firms to offer all communication services, allow operators to share and trade spectrum and facilitate consolidation in the...
GDP Growth Shocks At 5.3 Per Cent
NEW DELHI: In what came as a shock to even the most pessimistic,India’s economy expanded at just 5.3% during the last quarter of 2011-12, the slowest pace since the corresponding quarter of 2002-03, as manufacturing contracted and agricultural growth plateaued. With a decline in growth for the fourth straight...
