- Public purpose projects to get speedy green nod: Javadekar
New Delhi:Delayed ''public purpose projects'' in sectors like highways, ports and railways are in for speedy green clearance on the lines of defence projects.
- Badal writes to Jaitley for agri-diversification prog
Chandigarh: Stressing on the need to encourage agriculture diversification programme, Punjab Chief Minister Parkash Singh Badal today said Union Finance Minister Arun Jaitley should treat animal husbandry at par with agriculture for income tax exemption.
- Make requests that are 'justified':Swiss banks to India
New Delhi/Zurich: As India steps up pressure on Swiss authorities in its pursuit of alleged black money, banks in Switzerland say they follow strict rules and the requests from Indian authorities must be "properly justified".
- Kitchen costs surge due to spike in vegetable prices
New Delhi: The first three months of the new fiscal have seen kitchen costs surging mainly on account of rise in vegetable prices, according to an Assocham study.
- Jaitley to present first Budget amid tax sops hopes
New Delhi: Fin Min Arun Jaitley''s maiden Budget is expected to be tightrope walk of trying to meet demands for tax sops from middle class & pursuing fiscal prudence.
- Guj to set up int'l desks overseas to attract FDI
By Parag Dave Ahmedabad, Jul 6 (PTI) Gujarat government has decided to independently set up international desks in foreign countries like the US, China and Japan for facilitating investment in the state by overseas investors.
- Public purpose projects to get speedy green nod: Javadekar
New Delhi:Delayed ''public purpose projects'' on highways, ports & railways are to get speedy green clearance on the lines of expeditious green nods to defence projects.
- 'Global eco momentum could be less robust'
Aix-En-Provence (France), Jul 6 (AFP) The strength of the global economic recovery could be "less robust than expected" and more must be done to boost international monetary supply, IMF chief Christine Lagarde warned today.
- Horticulture produce estimated at 280.70 MT
New Delhi: Agriculture Ministry has estimated India''s horticulture produce including onions and potato in the year 2013-14 to increase by 4 per cent to 280.70 million tonnes.
- 'Show tight control over fiscal situation, populism'
Mumbai: As the country awaits first Union Budget of the Narendra Modi-led government, top banker Chanda Kochhar feels that it can''t ignore harsh realities like the tough fiscal situation as well as rising prices and would need "tight control" over both expenditure and populism.
- Anil Ambani-led Reliance crosses Rs 1-trillion m-cap
New Delhi: Riding on a strong stock market rally, Anil Ambani-led diversified business conglomerate Reliance Group has crossed Rs one lakh crore market valuation as share prices of all its companies have gained sharply.
- Cyber crimes alone cost India Rs 24,630 cr in 2013
New Delhi: Cyber crimes have cost India a whopping about Rs 24,630 crore (USD 4 billion) in 2013 alone as criminals used sophisticated means, says a Delhi High Court-commissioned report.
- PFRDA asks funds to match Rel Capital's bid
New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) is understood to have asked shortlisted fund managers to match the lowest bid submitted by Reliance Capital Pension Fund for managing pension corpus of non-government employees for a period of five years.
- Dedicated channel for farmers soon: Govt
New Delhi: Indian farmers will soon have a 24-hour TV channel dedicated to agriculture and related issues, providing the farming community with information related to aspects like weather forecast and seeds.
- Help restore higher domestic savings rate: CII
New Delhi: The first Budget of the Narendra Modi government would do well to initiate steps that would restore domestic savings rate level to at least 35 per cent of GDP through tax incentives, says industry body CII.
- Dubai to build world's largest shopping mall
Dubai: Dubai has unveiled plans to build the world''s first temperature-controlled city Mall of the World, an ambitious project spread over an area of 48 million sq ft, to attract tourists even during the scorching summer months.
- Dena Bank seeks Rs 1,200 cr fresh capital from govt
Mumbai: State-run lender Dena Bank has sought Rs 1,200 crore capital infusion from government in the current fiscal, a top bank official has said.
- Govt looks at tax rationalisation demand of DTH ops
New Delhi: The government is considering the long-pending demand of the DTH industry for rationalisation of tax structure for the sector which feels burdened by multiple taxes that amount to around 33 per cent of its revenue.
- Inox Winds aims to raise Rs 1,000 cr in IPO
Kolkata: Optimistic about the next wave of growth in wind power, the USD 2 billion Inox Group is looking at the capital market for Inox Wind Ltd to raise around Rs 1,000 crore by this fiscal.
- JSW Energy plans Rs 5,000 cr QIP issue this fiscal
Mumbai: Private sector power producer JSW Energy plans to raise Rs 5,000 crore through qualified institutional placement in 2014-15.
- Tech cos seek clarity on taxes, GST implementation
New Delhi: Technology companies are looking for more clarity on implementation of GST, tax on software licences and thrust on developing infrastructure in small cities in the first budget of new government led by Prime Minister Narendra Modi.
- IFC to infuse Rs 160 cr into Bandhan
Kolkata: International Finance Corporation, an arm of the World Bank, will infuse Rs 160 crore into micro finance institution (MFI) Bandhan, which is to be transformed later into a full-fledged bank.
- Hope MSMEs get priority in Budget: Kalraj Mishra
New Delhi: Micro, Small & Medium Enterprises Minister Kalraj Mishra hopes that the sector would be accorded priority through favourable policies in the upcoming Budget.
- RIL, BP slap arbitration notice on Govt for gas price hike
New Delhi: Reliance Industries and its partners BP plc of UK and Canada''s Niko Resources have slapped an arbitration notice on the government seeking implementation of a delayed gas-price rise.
- Resolve Indo-Mauritius tax to boost sentiments: FSC
Port Louis/New Delhi: Seeking to dispel concerns about Mauritius being used for round-tripping of Indian money, the island nation''s financial sector watchdog has sought a quick resolution of tax related issues between the two countries.
- Experts see big benefits from 'Silk Road Eco Belt'
From Dhriti Ranajana Ray Urumqi (China), Jul 6 (PTI) India and China stand to benefit in a big way through opening up of new trade routes from a global ''Silk Road Economic Belt'' being proposed by Chinese government for connecting various Asian and European countries, experts believe.
- Japan set for first arms export under new rules
Tokyo: Japan is set to approve its first arms export following relaxation of its self-imposed ban, as the nation aims to boost its global military and economic presence, a report said today.
- Faster audit of pvt discoms to help: Goyal
New Delhi: Power & Coal Minister Piyush Goyal has favoured expediting CAG audit of private electricity distribution companies in Delhi so as to help make "better" decisions on issues like tariff.
- Amar Chitra Katha betting big on digital format
New Delhi: Children''s book publisher Amar Chitra Katha is expecting the digital format to contribute one fourth of its revenues in the next five years.
- Lupin to set up two new R&D centres in US
Mumbai: Pharma major Lupin said it is in the process of setting up two new R&D centres in the US, focusing on research in inhalation and on complex formulations.
- I-T dept to set up 70 more Aaykar Sampark Kendras this fiscal
New Delhi: Seventy more centres will be established across the country in the ongoing fiscal for tax payers to file returns, check refund status and to redress their grievances.
- Deadline set for for inter-ministerial talks on Cabinet notes
New Delhi: Aiming to expedite the decision making process, the Cabinet Secretariat has fixed a time-frame of two weeks for completing inter-ministerial consultations on Cabinet notes.
- Budget: Travel cos for FDI in rail, tax relief on jet fuel
New Delhi: Lowering of taxes on jet fuel, hotels and holiday packages are among the top demands of the travel industry, which has asked the govt to initiate bold measures like FDI in Rail.
- Tata Motors working on strong pipeline of products: Mistry
New Delhi: Tata Motors is working on a strong pipeline of products for the domestic market keeping in view changing customer needs to make the company more profitable over the years, Chairman Cyrus P Mistry has said.
- Shriram Transport Finance betting on mining sector
New Delhi: Used commercial vehicle financier Shriram Transport Finance Company (STFC) is betting big on the mining sector to boost the growth prospects of the industry, according to a top official.
- FinMin may ease transfer pricing norms
New Delhi: In order to encourage foreign investment, the Finance Ministry is likely to introduce safe harbour rules for transfer pricing of capital transactions which will bring about certainty in taxation of such deals.
- Taxpayers to get quick SMS, email updates on refunds, filing
New Delhi: The Income Tax department will soon start updating taxpayers about the status of their I-T refunds and processing of certain tax statements by sending real-time SMSes and emails, on similar lines as that of credit card and bank transactions at present.
- RBI initiates swap of old gold with new one
New Delhi: The Reserve Bank has undertaken an excercise to swap old gold in its reserves with a new one with a view to standardise the yellow metal stock.
- Mfg, eng sectors dole out low salary hikes in 2014
New Delhi: The country''s manufacturing and engineering sectors have seen lower salary hikes of about 12 per cent this year while the increments are expected to pick up in the near term amid hopes of business growth, according to an executive search firm.
- 'Delhi not too generous with tipping, Mumbai No.1'
Mumbai: When it comes to tipping, the intent in India has declined by 10 per cent this year with the capital city Delhi emerging as the least generous in shelling out additional amount for services, whereas Mumbai has emerged the most giving, says a survey.
- Vedanta eyes 25 pc women representation on Board
New Delhi: NRI billionaire Anil Agarwal-led Vedanta Resources aims to have 25 per cent representation by women in its Board by next year and all appointments will be made purely on merit.
- New intel units, 800 personnel to check service tax evasion
By Ashwini Shrivastava New Delhi, Jul 6 (PTI) The Finance Ministry has cleared creation of new intelligence units across the country and appointment of over 800 personnel to check any leakage in its earnings from the indirect tax.
- Stainless Steel body demands duty hike to check China imports
New Delhi: Stating that the share of Chinese stainless steel products has touched about 30 per cent in the Indian market, stainless steel body ISSDA has demanded doubling the import duty on these to 10 per cent in the upcoming budget to safeguard interests of domestic industry.
- HMSI to add 1,000 customer touch points in current fiscal
New Delhi: With an eye on expanding its reach in the country, Honda Motorcycle & Scooter India aims to add another 1,000 customer touch points in the current fiscal.
- Top-10 Sensex cos add Rs 68,518 cr in market
New Delhi: In a strong market, top-10 Sensex companies together added Rs 68,518 crore in market capitalisation last week, with ITC and HDFC Bank emerging as the biggest gainers.
- Meeting on underground coal gasification this month-end
New Delhi: State-owned Coal India (CIL) has convened a meeting later this month to deliberate on the commercial development of underground coal gasification (UCG) in two identified coal blocks.
- Revlon eyeing 30% growth, Rs 250 crore sales this fiscal
New Delhi: Cosmetics firm Revlon is eyeing 30 per cent growth in turnover at Rs 250 crore on the back of new product launches this financial year.
- Finance and Commerce Ministries to soon join Twitter
New Delhi: Important ministries like Finance and Commerce will soon join Twitter as part of government''s effort to use social media in communicating with citizens.
- FII inflows hit USD 20-bn mark in first half of 2014
New Delhi: Overseas investors have pumped in a staggering over USD 20 bn into the Indian market in first half of year, mainly on hopes of a stable and reform-oriented govt at Centre.
- Mutual Funds buy shares worth Rs 3,300 cr in June
New Delhi: Improved market sentiments helped mutual funds pick up shares to the tune of over Rs 3,300 crore in June, making it the second consecutive monthly inflow.
- Vantage Circle bullish about future growth prospects
New Delhi: Employee privilege platform Vantage Circle, which has raised Rs 1.2 crore from angel investors, is planning to use the said capital for ramping up its sales activities and improving its product line.
- Egypt PM rejects public outrage vs fuel price hike
From Youssra el-Sharkawy Cairo, Jul 6 (PTI) Egyptian Prime Minister Ibrahim Mahlab has rejected public outrage against the recent hike in fuel prices and asked them to accept the decision.
- Mexico senate passes new telecom regulations
Mexico City: Mexico''s senate has adopted an ambitious telecommunications reform package aimed at blocking monopolies in television, mobile phones and high-speed Internet.
- Cuba's lawmakers examine weak economy
Havana: Cuba''s National Assembly opened its biannual session, with the communist island''s faltering economy topping the agenda.
