Life saving drugs, LCD TV cheaper; Set-top-box turns costlier
Presenting the Union Budget for 2009-10, Finance Minister Pranab Mukherjee Monday proposed reduced customs duty on life saving drugs to 5% from existing 10%. Liquid crystal display (LCD) TVs would also attract the lower 5% customs duty, making the product cheaper.

Mukherjee, however, has imposed 5% customs duty on set-top boxes used for Direct-To-Home television service.

He also...

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  • L&T Q1 net jumps 218% at Rs16 billion on onetime gain
    India's largest engineering and construction company Larsen & Toubro Ltd (L&T) Thursday reported a three-fold jump in its first quarter net profit mainly due to onetime gain and higher revenues.

    In a filing to the Bombay Stock Exchange, the company said its net profit for the quarter to end-June zoomed 218% to Rs16 billion from Rs5 billion while revenues increased to Rs76.3 billion...

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  • Multi-billion business of illicit drugs thriving in India
    While the top players of the over Rs850 billion pharmaceutical business are up in arms over what they call rampant spread of counterfeit drugs (allegedly 20% to 25% of total pharmaceutical sales) in the country, enforcement agencies and some pharmaceutical associations say the situation is not that alarming, reports PTI.

    But, they acknowledged that there are areas, which have slowly...

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