11844 stories by IPA Staff
Union Budget 2012: Power firms seek extension of tax holiday
NEW DELHI: Power companies have sought extension of the tax exemption to all power projects, including generation, transmission and distribution. Indian Electrical and Electronics Manufacturers Association (IEEMA) demanded extension of tax exemption to all power projects in line with other infrastructure projects like roads, airports, ports and railways. The...
Union Budget 2012-13: Entertainment industry seeks relief from high tax rates
NEW DELHI: With the government slated to announce the implementation of the Goods and Services Tax (GST) in the Union Budget 2012, the entertainment industry is hoping for some relief from the high rates of taxation. FICCI in its pre-budget memorandum has recommended that cinema exhibitors be exempted from...
Union Budget 2012: All eyes on fiscal deficit numbers
NEW DELHI: A key point which will be tracked in the Budget is the government’s fiscal deficit numbers, said S Raman, chairman, Canara Bank. “There were some initial signs in the railway budget that the fiscal problem would be at rest or at least that there would be a...
Union Budget 2012: Aviation sector seeks changes in FDI policy
NEW DELHI: The Indian aviation sector which has been hard pressed for cash is looking forward to the Union Budget 2012 for a direction on changes in foreign direct investment (FDI) policy. The government has also favoured changing the policy to allow investments by foreign airlines in Indian carriers,...
Budget 2012-13: Excise, service tax rates may be increased
NEW DELHI: Finance Minister Pranab Mukherjee is likely to hike excise and service tax in the general budget, said Dinesh Thakkar, CMD, Angel Broking. “We are expecting excise and service tax to be raised from 10% to 12% as well as some kind of reassurance of implementation of DTC...
Akhilesh Yadav takes over as youngest CM of UP
Lucknow: Akhilesh Yadav, the state president of the Samajwadi Party, was sworn in as the youngest chief minister of the country’s most populous state, Uttar Pradesh, along with 19 cabinet ministers and 28 state ministers by Governor BL Joshi here on Thursday. The ceremony was attended, among others, by...
RBI policy review: Expertview
Analysts view RBI’s comments ‘less dovish’ as it says inflation risks remain and this ‘will influence both timing and magnitude of future rate actions’. VIVEK RAJPAL, INDIA RATE STRATEGIST, NOMURA, MUMBAI “RBI is not as dovish as expected. It has rather sounded cautious on inflation. Though, in their guidance,...
IT industry expects Budget to set right taxation anomalies
Bangalore: With the export-oriented information technology industry facing strong headwinds from the global economic slowdown, the sector is expecting the forthcoming Union Budget to set right what it calls “taxation anomalies”, thereby easing some of the pain. The $88-billion Indian technology industry, which includes IT services & BPO and...
Golbal funding vital to take on climate change: Survey
NEW DELHI: Global funding is vital for countries like India to address concerns related to climate change as mitigation efforts ultimately involve costs, says the Economic Survey 2011-12, which for the first time has made a pointed reference to the challenge posed by climate change. “Global funding through the...
Chevron Halts Brazil Production After New Leak
RIO DE JANEIRO: Chevron filed to temporarily halt production operations in Brazil on Thursday after it detected a “small new seep” of oil in the same offshore field where it suffered a high-profile leak in November. The US oil company said it was taking the step as a precautionary...
Qualcomm gets BWA licence after 2-year wait
NEW DELHI: After an 18-month delay, the department of telecommunications (DoT) has issued an internet service provider (ISP) licence to US-based chipmaker Qualco-mm, which will pave the way for the company to go ahead with the launch of broadband wireless access (BWA) services. Qualcomm had won BWA spectrum in...
Emphasis on reforms in Economic Survey welcome: Muthuraman, President, CII
CII welcomes the recovery in economic growth projected by the Economic Survey. GDP growth is projected to accelerate to 7.6% in 2012-13 and further to 8.6% in the following year. However, “a stronger recovery in growth is possible if supply-side bottlenecks are eased and economic reforms are taken forward”,...
Economic Survey underlines several challenges
By Anjan Roy While the Economic Survey is optimistic about the future prospects of the Indian economy, it has also underlined several challenges. The first of these is the falling share of the industrial sector in the overall GDP, which needs to be reversed. Survey had pointed out the...
Indian stocks drop after RBI keeps rates intact
MUMBAI, March 15 (Reuters) – Indian shares fell for the first time in five sessions as sectors sensitive to interest rates such as banks and real estate dropped after the central bank kept its policy rates unchanged, voicing a more hawkish stance than expected. Though analysts had largely expected...
Haryana Government to introduce two award schemes
Chandigarh, March 15 – Haryana Government has decided to introduce two award schemes namely “Surakshit Maa Awards” and “Swasth Maa Award” from the next financial year in the state to promote institutional deliveries and create awareness and responsible health seeking behavior in pregnant women. A sum of Rs 81.50...
I will quit if PM or Mamata asks me to: Dinesh Trivedi
New Delhi: Railway Minister Dinesh Trivedi, whose removal has been demanded by his party leader and Trinamool Congress boss Mamata Banerjee, on Thursday said he has not resigned as yet. However, he made it clear that he would resign the moment the Prime Minister or Mamata Banerjee ask him...
Allow FDI in multi-brand retail in phased manner: Survey
Favouring a phased opening of India’s multi-brand retail trade to FDI, the Economic Survey 2011-12 on Thursday said foreign investment could help in curbing food inflation in a significant way. “Allowing FDI in multi-brand retail is one of the major issues in this sector. This could begin in a...
Ash 'greedy' about working with different directors
Aishwarya Rai, currently on a sabbatical after being in the industry for over a decade, says she was happy to have worked with different directors. “I am glad to have worked with different directors on different roles. I had always been greedy to work with different directors on different...
