ECONOMY & NATION


The demand for gold in the first quarter of 2014 was 167.1 tonnes   The demand for gold in India for the first quarter (January-March) of 2015 was at 191.7 tonnes, up by 15 percent as compared to the corresponding period of 2014, World Gold Council (WGC) said in a report on...

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India's annual rate of wholesale price inflation decelerated further    India's annual rate of wholesale price inflation decelerated further to (-)2.65 percent in April from (-) 2.33 percent for the previous month on the back of a major decline in prices of fuels and minerals,...

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Led by Bharatiya Janata Party (BJP) MP and chairman of parliamentary committee on energy Kirit Somaiya, the MPs expressed their concern over the conduct of airlines and asked the government to stop the arbitrary fare hike by Indigo, Jet Airways and others   A group of 20 members of...

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Venkatachari Jagannathan (IANS) 13 May 2015
In his speech at the function, Kant said the slogan 'Make in India' is not for making a protective market but to make India a part of the global supply chain. He said the government is focused on making India an easy place to do business   Come June/July, the central government will...

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Justice TNC Rangarajan retd 13 May 2015
The Indian tax system is devilishly complex, extortive and a patchwork of various haphazard ideas. This is the first part of a multi-part series on the vexing Indian tax system and the path to genuine reforms, adapted from Justice S Rangarajan Memorial Lecture in Bangalore delivered...

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Moneylife Digital Team 13 May 2015
While the IIP is showing tepid growth, the actual tax collections are showing a huge jump reflecting stronger manufacturing. Which one would you rather believe?    The indirect tax revenue (provisional) collections in April 2015 increased 46.2% to Rs47,747 crore from Rs32,661 crore...

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Nokia Networks in India will work as an independent unit and compete against Alcatel Lucent till the clear signal on integration is obtained from the headquarters   Finnish telecom broadband infrastructure software and services provider Nokia Networks will consider India as one of...

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The rating agency attributed the current subdued growth conditions on weak domestic credit conditions, tepid domestic demand and uncertain global growth   The monsoon and global financial volatility will pose additional risk to India's growth this year besides weak domestic credit...

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Moneylife Digital Team 13 May 2015
Except the President, Prime Minister, Chief Justice of India and departed leaders, photographs of other political leaders should not be used in government advertisements, the apex court ruled   In a landmark judgement, the Supreme Court on Wednesday prohibited use of photographs of...

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The Central Board of Direct Taxes had notified new norms and the attendant forms that, among other issues, requires an assessee to furnish all bank details, accounts opened or closed in the year with the closing balance, as also the sources of funds for expenses in an overseas...

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The company stopped selling MPV STILE that was being made in joint venture with Japanese Nissan Motor Company   Commercial vehicle maker Ashok Leyland Ltd has decided to stick to its core business and exit multi-purpose vehicle (MPV) segment, said a top company official here on...

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The reverse e-auction for the gas-based plants stranded due to lack of feedstock was conducted under the newly-approved Scheme for Utilization of Stranded Gas Based Generation Capacity   The government on Tuesday announced the revival of 10 stranded gas-based power plants who bid...

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In a statement, the company said the facility for Reliance Jio was the second round of financing from the Korean giant and the third overall for the group   Reliance Industries on Wednesday said its broadband arm has signed up for a $750-million loan, backed by Korea Trade Insurance...

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Industrial activity in the country, measured in terms of the Index of Industrial Production (IIP), registered a 2.1 percent growth during March 2015 as compared to a 5 percent rise in the previous month.  

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TruthInAdvertising.org 12 May 2015
Former distributor says a class-action settlement isn't going to help a majority of recruits who lost money   Eric Rodensky was working hard driving trucks for a company that distributes candy and groceries to convenience stores, but the long hours weren’t yielding enough pay to make...

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This follows Finance Minister Arun Jaitley's Friday announcement of a high-level committee for looking into the issue of levy of MAT on FIIs   The Central Board of Direct Taxes (CBDT) on Monday said it will not issue any new demands for payments, and will take no coercive action to...

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A city court on Monday granted bail to B. Ramalinga Raju and all other accused in multi-crore-rupee accounting fraud.   The metropolitan sessions court granted bail to Satyam Computers Services Limited (SCSL) founder Ramalinga Raju and his brother Rama Raju on a personal bond amount...

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Imported RLNG will be made available at a reduced price under the scheme   E-auction for allocation of imported regasified liquefied natural gas (RLNG) under the power ministry's scheme for gas-based power plants is set to begin on Tuesday, the government...

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Domestic passenger car sales grew by 18.14 percent in April and stood at 159,548 units from 135,054 units sold during the corresponding period of 2014, industry data showed on Monday.   According to the data furnished by Society of Indian Automobile Manufacturers (SIAM), the total...

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Arbitrary and discretion-based policies bedevil the aviation sector   The Indian civil aviation industry continues to lurch from one controversy to another, without much respite. The main reason is that India believes in governance by discretion. Every rule, and policy, remains on...

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