India can’t be allowed to become a tax haven
In a strong message to multinationals campaign against taxing Vodafone, Government ruled out any rethinking on the issue making it clear that India cannot be a tax haven just to attract foreign investment. Pranab Mukherjee It also asserted that Parliament has the right to make amendments to law to correct Supreme Court judgement and would not allow More...
Pranab elected chair of ADB Governors’ Board
Finance Minister Pranab Mukherjee was elected as Chair of the ADB’s Board of Governors and the country will host the 46th annual meeting of the Asian Development Bank in New Delhi next year. Finance Minister More...
Coalition politics behind sluggish reforms: Pranab
Rejecting criticism that UPA is not serious on reforms, Finance Minister Pranab Mukherjee said that it is now time for the government to take some hard decisions and expressed confidence that three key legislations More...
RBI’s first rate cut in 3 yrs to make loans cheaper
In a surprise decision, the Reserve Bank cut the benchmark interest rate for first time in three years by 0.5 per cent to provide relief to borrowers and revive the sagging economic growth. Unveiling the annual More...
Kingfisher employees get salaries after 4 months
A large section of Kingfisher Airlines employees, including pilots and engineers, received their salaries on Monday after a delay of nearly four months, airline sources said. Chairman of the crisis-hit airline Vijay More...
Verbatim introduces ultra stylish Clip-i’ USB Drive in India
Verbatim’s “Clip-it” USB Drive brings a unique way to attach the paper work with the electronic one. Being the new entry in the Indian flash drive market, Verbatim’s USB drive combines flash storage with More...
Eco Survey pegs India’s growth at 7.6% next fiscal
Suggesting a rebound, the government has projected the economy to grow by about 7.6 per cent in the next fiscal, up from 6.9 per cent estimated in 2011-12 on the back of declining inflation and softening interest More...
UPA U-turn, cotton export ban lifted
In a U-turn, the government lifted ban on cotton exports under immense political pressure, within days of prohibiting shipments of the natural fibre. However, it will take some time before exports resume, as the More...
Jet Airways asked to pay dues of Rs 69 crore
After freezing the bank accounts of beleaguered Kingfisher Airlines, the service tax department has now served a notice on Jet Airways to pay up about Rs 69 crore as dues soon or face similar consequences, but the More...
Govt approves buyback of PSU shares to expedite disinvestment
Hard pressed for funds, the government approved the proposal for expediting disinvestment through the buyback route under which blue chip state-owned companies will buy its stake. Manmohan Singh The decision to More...