Finance minister Pranab Mukherjee said Indian government agencies have detected nearly Rs 49,000 crore of undeclared income and collected an extra Rs 34,600 crore of extra taxes. About Rs 15,000 cr was discovered in the last 18 months, Mukherjee said in an apparent attempt to mollify angry courts, a day before a crucial Supreme Court […]
Former telecom minister and BJP leader Arun Shourie hit back at telecom minister Kapil Sibal for raising aspersions at his stint as the telecom minister in 2003. Shourie mocked Sibal for trying to defend his jailed predecessor A Raja and said such efforts only served to drag the Prime Minister into the net. “He is […]
The National Alliance of People’s Movements, led by Medha Patkar, has welcomed the environment ministry’s move to impose tough restrictions on the Lavasa Hill Township project near Pune. “The Report and the Final Order is indeed courageous and honest on the part of the MOEF committee,” the NGO said in a statement. Patkar’s NAPM has […]
Shortly lauding the ‘first come first served’ policy for lowering telecom tariffs and spreading telecom to all classes, telecom minister Kapil Sibal on Friday said the policy was the root of all evils in the spectrum controversy. Sibal also defended his predecessor A Raja, in jail on charges of manipulating the ‘first come, first served’ […]
Legal experts pointed out that the two sections under which Raja, Behura and Chandelia have been booked indicated the possibility of further arrests, including those from the private sector and their lobbyists. The CBI has booked the trio under the sections dealing with ‘criminal conspiracy’ and ‘criminal misconduct by a public servant’ of the Indian […]
Standard Chartered Bank of Britain has been granted permission to set up a ‘stock exchange’ trading in currency and interest-rate futures in India. The ministry of finance said that the Bank, through its Mauritius subsidiary has been granted the relevant permission to acquire an Indian company to set up the exchange. Currency and interest rate […]
In what may be a hardsell, iBall has launched iBall Slide 3G 7334Q-10, a 3G dual SIM-enabled, 7-inch IPS display tablet at Rs 11,500. The tablet is a successor to the similarly priced dual-core iBall 3G 7334i. However, the improvements, besides in the processor, include quality of display (IPS) and 3G (on both SIMs). Ram, or […]
The technology of 3D “bioprinting” (the medical application of 3D printing to produce living tissue and organs) is advancing so quickly that it will spark a major ethical debate on its use by 2016, according to Gartner Inc. At the same time, 3D printing of non-living medical devices such as prosthetic limbs, combined with a […]
A new survey, conducted by C Voter in Delhi, seems to be showing that the mainstream media seems to have got it entirely wrong on how people saw Delhi Chief Minister Arvind Kejriwal’s protest outside the Parliament. Conducted last week, the survey that involved close to 5,000 people taken to represent the Delhi electorate, found […]
Persistent Systems reported another strong quarter, with 2.2% quarter-on-quarter growth in dollar revenue and 5.6% rise in profit after tax. The company, which provides software product related services, is one of the few that has lived up to Street expectations, especially in the mid-cap IT space. “We have delivered another strong quarter with 3.8% Q-o-Q growth in […]
MTNL, the telecom operator, will restrict its upcoming WiFi service to those of its customers who already have a landline broadband from the company. According to official information, MTNL will not be offering any WiFi connection as a new, or a standalone service. Instead, anyone who wants to make use of the WiFi service will […]
The recent monetary and fiscal policy tightening in India is likely to help India and Indonesia cope better with the impact of the upcoming withdrawal of the US Federal Reserve’s stimulus program, ratings agency Fitch said. India and Indonesia had seen their currencies swoon last year after commentary from the US indicated the Federal Reserve would soon […]
BSE’s upcoming platform for small and medium enterprises, BSE SME, has got its 45th stock listed today – that of Mumbai-based Suyog Telematics Ltd. Suyog had raised Rs 4.53 crore in its IPO at 25 per share on January 7. The stock listed today, and will be traded at a lot size of 6,000 shares, […]
Sessions Court Greater Mumbai today granted anticipatory bail to Michael Ferreira and stayed proceedings on the lookout notice issued against him earlier by the Economic Offences Wing of Mumbai Police in the QNET multi-level marketing company case. Michael Ferreira, who has been out of the country, had missed an earlier summons by the Mumbai police […]
Shares of Zensar Technologies Ltd are likely to fall on Wednesday as the company has reported a decline in both revenue and profit compared to the preceding quarter. The company, which provides outsourcing and IT services, said revenue fell 1% to Rs 594 crore, while net profit fell nearly 30% to 50.7 crore. The company […]
The government has raised the minimum wages under its ambitious job guarantee scheme, the National Employment Employment Guarantee Scheme (NREGS) 17-30%, it said in a statement on Tuesday. The increase has been based on the increase in the Consumer Price Index for the agricultural labour, it said, adding that the total spend on the project […]
Pakistan and India may be traditional rivals, but that has not stopped the smaller neighbor from considering the import of a controversial product from India — the electronic voting machine or EVM. The Indian Election Commission said its Pakistani counterpart has asked for a demonstration of the Indian machine and will soon send samples to […]
The government unveiled the much awaited mobile number portability on Thursday. “It is the open season now,” declared telecom secretary R Chandrasekhar as Prime Minister Manmohan Singh unveiled the long-awaited nation-wide number portability regime in the capital. Chandrasekhar, a recent entrant to the telecom ministry, seemed to almost echo the feelings of millions of telecom […]
The Indian Oil Corporation, which accounts for 50% of India’s petrol and diesel sales, has justified its recent increase in petrol prices, blaming the ever-rising international crude prices. It said, despite increasing petrol prices, it is losing Rs 159 Crore per day on the sales of other fuels like Diesel, LPG and Kerosene. “With the […]
After hectic talks between ministers and departments, the Prime Minister Manmohan Singh finally announced his response to the food price crisis — and it promises more of the same. The new measures — including a scheme to sell onions at Rs 35 per kg — are similar to those announced by the government to beat […]
