Opinion
Appeal
The legacy of IPA, founded by Nikhil Chakravartty, the doyen of journalism in India, to keep the flag of independent media flying high, is facing the threat of extinction due to the effect of the Covid pandemic. Only an emergency funding can avert such an eventuality. We appeal to all those who believe in the freedom of expression to contribute to this noble cause.Memorable May Day For Indian Labour Movement
By Narendra Sharma NEW DELHI: For the labour movement in India, May Day, this year had a memorable ring of the International Day of Labour as trade unions in all Continents, cutting across affiliations, supported the Indian workers’ united struggle against the UPA Government’s anti-Labour and corporate-centric employment and...
PEs breathe easy as FM halves tax on long-term capital gains
MUMBAI: The finance ministry today decided to halve the tax on long-term capital gains for private equity (PE) investors to 10 per cent to help revive slowing inflow of foreign funds. The government will also exempt long-term capital gains on the sale of unlisted securities in initial public offerings (IPOs)...
Sriprakash Jaiswal Seeks Three-Month Extension For Coal Secretary
NEW DELHI: Call it the ‘Coalgate’ effect. Coal minister Sriprakash Jaiswal has sought an extension for coal secretary Alok Perti, citing the need to maintain “continuity”. Perti, a 1977-batch IAS officer ofAssamcadre, is scheduled to retire on May 31. Top government officials said the minister has argued that Perti...
CEA Requests Power Ministry To Seek PMO Help On Fuel Supply Pact
NEW DELHI: Power sector planning body CEA has sought PMO intervention on fuel supply agreement as several companies have refused to sign pact with CIL amid differences over penalty to be paid by the coal firm if it fails to supply 80 per cent of the contracted fuel to...
Doubts On D6 As RIL, Oil Ministry Spar
NEW DELHI: Mounting mistrust between the oil ministry and Reliance Industries has cast a cloud on the future of the prized D6 block as the government continues to maintain a stern posture toward the company while RIL struggles to justify further expenditure on the deep-sea block it operates. Matters...
India Grants 55 Buses To Afghan Army
The government ofIndiain a bid to assist the Afghan national security forces on Friday granted 55 passenger buses for 207 Zafar Afghan National Army commandment. According to local authorities in westernHeratprovince, the government ofIndiain a bid to assist the Afghan national security forces on Friday granted 55 passenger buses...
HCL Group to buy majority stake in DLF Pramerica Life
MUMBAI: Indian billionaire Shiv Nadar’s foray into the insurance sector is likely to fructify soon. DLF Pramerica Life, seeking an Indian partner for its operation, is in talks with Nadar’s HCL Group to sell a majority stake. According to those in the know, both parties are back on the...
Clinton Hopes For Retail FDI, But Doesn’t Push Didi
NEW DELHI: West Bengal chief minister Mamata Banerjee insisted on Monday that foreign direct investment in retail did not figure in her celebrated talks with US secretary of state Hillary Clinton. Briefing media after the hour-long meeting at the state secretariat, the chief minister said issues like sharing of...
Unclear Rules Stop FDI In Pharma Companies
NEW DELHI: The government has recently stopped giving permission to foreign companies and overseas investors to buy into Indian drugmakers till clear guidelines regarding foreign direct investment in the sector are finalised. The Foreign Investment Promotion Board (FIPB), the nodal agency that approves investments in India, deferred four proposals...
RBI Announces OMO To Ease Liquidity
MUMBAI: The Reserve Bank of India (RBI) on Monday said it might infuse up to Rs 12,000 crore this week via Open Market Operations (OMO), to ease liquidity pressure and create appetite for fresh supply of government bonds. The central bank will purchase four lots of government securities using...
Finance Ministry Bows To Market, Defers GAAR By A Year
NEW DELHI: The government on Monday proposed to defer by a year its plan to bring a general anti-avoidance rule (GAAR) to crack down on foreign investors creating legal structures without commercial substance to avoid paying tax in India. In a relief for foreign investors who fled Indian markets...
Pranab Set For Raisina Hill
By Amulya Ganguli The run-up to the presidential polls is proving to be smooth affair this time unlike an earlier occasion when they were marked by heart-burning and recriminations as when the ambitions of vice-president Krishan Kant and Maharashtra governor P.C. Alexander were not fulfilled. The reasons for this...
Indian Budget Has A Global Dimension
By Anjan Roy Responding to the strident criticisms of his budget proposals for introduction of retrospective effect to tax law changes going back to 1962, the finance minister has now stated that tax claims will not be applicable to and tax claims be made in cases where final tax...
Breathing Fresh Life Into The Congress
By Praful Bidwai Fully eight weeks after the results of the Assembly elections which brought defeat and humiliation to the Congress in four out of five states, the party is waking up to reality and acknowledging that it’s in deep crisis. Not only does it have serious difficulties in...
DRDO Develops Missile Defence Shield
NEW DELHI: The Defence Research and Development Organisation (DRDO) has developed a missile defence shield which can be put in place at short notice to protect at least two cities.United States,RussiaandIsraelare the only other nations who have such a missile defence shield. The shield has been tested successfully and...
No Big Loss For RIL On D6 Order, Says Govt
NEW DELHI: The oil ministry’s move to disallow Reliance Industries (RIL) recovery of $1 billion cost at its KG D6 block until gas production improves, is unlikely to hurt the company significantly. For the government, the move at this juncture would mean an immediate revenue flow of $100 million...
Centre Promises To Empower Bihar With 1,320 MW
NEW DELHI: Extending an helping hand to power-starved Bihar, the Centre has agreed to allocate 50% of electricity from upcoming 1,320 MW NTPC’s Barh unit inPatnadistrict. It has also agreed to expeditiously take up the fuel linkage issue related to Barauni expansion with the Coal Ministry. The assurance was...
Hindujas to sell minority stake in truck finance arm
Mumbai: The Hinduja Group, owned by the London-based non-resident Hinduja family, will sell a minority stake in truck financier Ashok Leyland Finance or ALFL to private equity investors to raise roughly R100 crore by June and an additional R100 crore by January 2013, a senior company official said. “The...
