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Going by current trends of the Indian political leadership and the apex national security establishment of investing more on diplomacy than military preparedness to ward off ‘The China Threat’, the analytical answer is a big NO. Strategic analysis would suggest that it should be a pressing strategic imperative for...
Last week it was China that captured the headlines and this week, the attention is all on India as it is on the verge to announce it’s annual budget. Eleven days ago, the authorities in Beijing announced an 11.2% increase in it’s military budget, which clearly underscored the China’s...
By Narendra Sharma NEW DELHI: Migrants in the country are denied all facilities available to the other citizens because they have to leave their hearths and homes in search of livelihood. They work harder, are paid not even a minimum wage. Though, they too contribute to the health and...
MUMBAI: Talk of a stake sale in Suzlon’s European business is back. Global power equipment and wind turbine majors Alstom, Siemens and GE are negotiating with Suzlon Energy for a possible buyout of its German subsidiary REpower, said two people familiar with the ongoing negotiations. They said the talks...
NEW DELHI: Competition needs to be ushered into the domestic coal sector as state-owned CoalIndia’s “near monopolistic” position impedes the sector’s growth. “Coal India Limited (CIL) dominates the domestic coal scenario. Its near monopolistic position has often resulted in supply bottlenecks, delays in development of new coal fields and,...
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...
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...
Obama administration officials say they are concernedIndiamay run afoul of a newUSlaw restricting payments for Iranian oil, forcing the White House to impose sanctions on one of its most important allies inAsia. So far this year,Indiais failing to cut back its purchases of Iranian oil, which may force President...
The Survey has warned of deteriorating fiscal health due to a mounting subsidy burden. The huge outgo over the past year has been largely on account of the global rally in crude oil prices, the fertiliser subsidy and state-controlled foodgrain prices, it said. It also blamed ‘coalition politics and...
NEW DELHI: The analysis of the energy sector in the Economic Survey offers little direction for the future. This is despite the 12th Five Year Plan having identified energy security as the critical component to make a growth rate of 9% per annum of GDP feasible. It says the...
MUMBAI: An extension of the deadline for potential suitors to give binding bids for BG subsidiary Gujarat Gas has not worked out. In fact, most players seem to have opted out. Three independent sources closely involved with the bidding process said only one bid for the PSU consortium came...
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) today declared the second interim dividend of 30%, which will net the government over Rs 888 crore. “The Board of Directors of the company at its meeting held on March 15, 2012, have approved second interim dividend Rs 1.50 per...
NEW DELHI: State-owned oil companies today hiked jet fuel price by 2%, the second increase in rates this month. The price of aviation turbine fuel (ATF), or jet fuel, inDelhiwas hiked by Rs 1,298.88 per kilolitre (kl), or 2%, to Rs 65,949.34 per kl with effect from midnight tonight,...
NEW DELHI: Reliance Industries’ (RIL) offshore KG-D6 fields may hold lower than previously anticipated natural gas reserves, the company’s minority partner Niko Resources said today. The Canadian firm in a statement said it expects a drop in reserves at Dhirubhai-1 and 3 (D1 & D3), the largest of the...
Budget 2012-2013 Speech of Pranab Mukherjee Minister of Finance March 16, 2012 Madam Speaker, I rise to present the Union Budget for 2012-13. For the Indian economy, this was a year of recovery interrupted. When one year ago, I rose to present the Budget, the challenges were many,...
New Delhi: Finance Minister Pranab Mukherjee on Friday announced tax relief for individual tax payers. Presenting Union Budget 2012-13 in Lok Sabha, Mukherjee said income upto Rs 2 lakh would be tax free; income from Rs 2-5 lakh to be taxed 10%; from Rs 5-10 lakh to be taxed...
New Delhi: With the nation watching, Finance Minister Pranab Mukherjee is currently presenting Union Budget 2012-13 in Lok Sabha. Reading out his Budget speech, Mukherjee said India continues to remain among front-runners in economic growth. Mukherjee however said the economic growth is estimated at 6.9 percent during the current...
NEW DELHI: Auto sector lashed out at the government for trying to impose higher tax on diesel cars, while preparing to cut duties on those imported from Europe. “What we expect from the upcoming Budget is that there should not be diesel tax. It is not the right time...