The newly formed Congress government in Kerala seems to be heading for a controversy that has an uncanny similarity to the CVC PJ Thomas episode at Centre. While the Congress-led government at the Centre appointed a corruption accused as the chief of India’s anti-corruption body, in Kerala, the days old Congress-led government has appointed an […]
The 1.9 million tonne cement plant and captive power plant being set up by Nirma near the Coast in Gujarat is likely to be forced to relocate after the environment ministry’s expert committee upheld the findings of a small expert fact-finding mission. In its recommendations — published by the environment ministry a few hours ago […]
The government has done away with tax deductions linked to accumulated losses, moving towards an investment-linked tax incentive scheme. In the budget for 2011-12, the government said it is withdrawing the so-called 10-A and 10-B deductions due to rampant misuse by companies. Many companies artificially lower their profits or declare losses to get the benefit […]
After several years of relentless increases in spending on populist schemes such as the National Employment Guarantee scheme, food, fertilizer and fuel subsidies, the government has finally applied the brakes in the budget for 2011-12. Instead of increasing budgets to rope in more people under the schemes, the government has proposed to make the schemes […]
Essar Oil said it has tied up credit arrangements worth Rs 5,000 crore from Indian banks to pay its sales tax bill of Rs 6,169 crore. Essar Oil is a subsidiary of Essar Energy, listed on the London Stock Exchange as ESSR. In April this year, the Supreme Court of India had rejected Essar Oil’s […]
India’s IT spending will buck the overall global slowdown and grow at a strong rate of 16.3% in dollar terms this year, International Data Corporation (IDC) said. The growth forecast is unexpectedly strong and bullish, given that Gartner recently predicted that global IT spending will grow only 3% this year. According to IDC, India’s total […]
In the era of cheap me-too 7-inch tablets, PC peripherals brand Intex has launched a standout ultra-slim tablet with a built-in keyboard like that of the Microsoft Surface. The Intex i-Buddy, priced at Rs 6,500 (the same as Micromax Funbook), seems better value for money than the Micromax model and many others in the 7-inch […]
Banks in India will face increasing stress over the next two years due to a possible deterioration in asset quality and overall economic malaise, ratings agency Standard and Poor’s said. While other BRIC countries will also face slowing growth, India’s situation is the most dire among the four big developing nations, it said. “We believe […]
Prices of food items, particularly pulses and coarse cereals, are likely to rise in coming months due to a possible drought in India this year and add to the already high inflation levels, CRISIL Research has warned. It pointed out that monsoon has so far been 22% below average and the situation is reminiscent of […]
Even as mainstream media has adopted a wait-and-watch approach towards the ‘second round’ anti-corruption agitation by Team Anna, a little-known live streaming website is catching on in popularity due to the agitation. Granslive, a little known web-streaming service, has seen tens of thousands of users log on in an effort to watch live Anna Hazare’s […]
An influx of thousands of Anna Hazare’s supporters, eager to find out what is going on at the Jantar Mantar fast venue, seems to have overwhelmed the live web streaming set up India Against Corruption. The live video feed by event-streaming firm Granslive seems to have become inaccessible to new viewers today morning, and several […]
I am one of you. I don’t usually go about shouting slogans, or carrying placards. Sometimes, when I don’t have enough money to make ends meet, I choose to pay the Rs 100 that the policeman demands than the Rs 600 fine I’d have to pay for riding without a helmet. I am no Anna […]
Two founders of NIIT, Rajendra S Pawar and Mr. Vijay K Thadani, have sold a combined stake of 7.4% in NIIT’s technology subsidiary, NIIT Technologies. In a statement released on their behalf, they said the money will be used to fund the expansion of NIIT University (NU). NIIT University, a Not for Profit University, has […]
One of India’s biggest associations of companies, the National Association of Software and Services Companies has welcome the government’s move to re-examine its recent moves on taxing India-based operations of foreign companies. There had been signals from the Income Tax department that it will scrutinize the value ascribed by foreign companies to the work done […]
With TV channels not giving the same level of coverage to Anna Hazare’s fast as last time, many supporters of the movement have chosen to express their frustration at mainstream TV channels on social media networks such as Facebook and Youtube. “Boycott all those channels that are not showing India’s biggest movement as breaking news,” […]
After many stumbles, the reform of India’s massive food-subsidy system is gathering pace. Starting this month, Kochi in Kerala will be among the select few cities in India where a new public distribution system (PDS) will be tested out. Unlike the current system, the new system will not route the subsidy on food and kerosene […]
Come next year, salaried employees who earn less than Rs 8 to 9 lakhs a year will not have to through the hassle of filing their annual income tax returns. According to the budget for 2011-12, from June 2011, government would change the laws to make it unnecessary for salaried employees to file annual IT […]
In keeping with recent trends, India’s exports dipped again in June, this time by 5.5%. June exports were US $25.07 billion. Thankfully, imports too dipped, faster than exports. Imports were US $ 35.37 billion with a negative growth of (-) 13.46%. Balance of Trade was comfortable at US $ 10.3 billion, compared to $13-14 billion […]
Anna Hazare has made it clear that he will not break his next fast on the basis of assurances, written or otherwise, from the Prime Minister or anyone else. His fast starting next month will end only with the passing of a strong Lokpal bill, or his death, he said. “So many people are dying […]
Inflation continued to remain above 10% in June, led by high food inflation, latest government numbers show. Overall, on an all-India basis, consumer prices were up 10.02% in June, compared to prices in June 2011. Double-digit consumer price inflation is bad news for people with fixed income, such as those on salaries and pensions. Even […]
