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Early Thursday morning, an Indian rocket successfully launched into orbit a microwave Radar Imaging Satellite (Risat-1) from the spaceport here in Andhra Pradesh, some 80 km from Chennai. With the launch of Risat-1, India has now joined a select group of nations who possess such sophisticated technology. The indigenously...
NEW DELHI: Defence Minister AK Antony today said movement by Army troops in January this year was undertaken for training purpose and was aimed at refining mobilisation drills and preparedness of the force during foggy and wintry conditions. In a written reply to the Rajya Sabha, Antony said, “The...
NEW DELHI: Anti-corruption activists on Thursday released a set of documents alleging involvement of middlemen in key government deals in defence and telecom sectors. They suspected dubious involvement of Abhishek Verma, an accused in the 2008 Navy war room leak case and a New York-based company Ganton Limited. The...
NEW DELHI: Endemol India, makers of popular reality television shows such as Bigg Boss, Khatron Ke Khiladi and The Great Indian Laughter Challenge, is getting into Bollywood film production. The Indian subsidiary of the Netherlands-based independent television producer is close to signing up two movies involving some of the...
MUMBAI: Foreign institutional investors (FIIs) are increasingly getting edgy as recent policy actions, or the lack of it in several cases, have dampened their enthusiasm to buy Indian shares. Tax uncertainty due to the proposed general anti-avoidance rules (GAAR), policy flip-flop on foreign direct investment (FDI) in multi-brand retail,...
NEW DELHI: The government plans to kick off the disinvestment programme in 2012-13 with a Rashtriya Ispat Nigam (RINL) initial public offering (IPO) in June. A senior Department of Disinvestment (DoD) official told Business Standard the groundwork for the IPO of the government’s 10 per cent paid up equity...
NEW DELHI: India will likely receive normal monsoon showers for a third straight year in 2012, boosting prospects of farm production and providing relief to an inflation-wary government, which is preparing to widen subsidised grain sales to the poor under the Food Security Act. Rainfall in the June-September season...
NEW DELHI/MUMBAI: In a push to financial sector reforms, the Cabinet on Thursday cleared the much awaited Banking Law (Amendment) Bill. It approved a proposal to cap shareholders’ voting rights in private banks at 26 per cent irrespective of their total holding. To find common ground with the Opposition,...
NEW DELHI: India is likely to take the sting out of a controversial law seeking to crack down on tax avoidance by exempting small firms and individuals and stretching out its implementation over several months, in an attempt to calm jittery foreign and domestic investors. The finance ministry is...
By Nantoo Banerjee A matter-of-fact statement made recently by the chief economic advisor to the union finance ministry, Kaushik Basu, before a learned audience in Washington DC has stirred up a real hornets’ nest among politicians and intelligentsia to the embarrassment of the Congress party leading the ruling United...