ECONOMY & NATION


The bill for development of mines and minerals, to bring a regime of auctioning blocks for prospecting, was passed by parliament on Friday even as opposition parties, notably Congress and Left Front, demanded a re-look by the select committee.   The bill was first put for voting in...

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Investment in the name of your spouse and children is common but make sure you don’t fall foul of the taxman, Read the dos and don’ts of such investment   Are you paying too much by way of tax, especially on investment income? You may be tempted to transfer your assets in the names of...

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Come April - the dawn of the new fiscal - and bankers would hit the streets to hold silent demonstrations outside the headquarters of corporate loan defaulters pressurising them to pay up their dues, said a top union official.   The bank union has decided to take on a national scale...

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The Delhi High Court on Thursday ordered the civil aviation regulator to de-register six aircraft of SpiceJet for non-payment of dues to some of its lessors -- an issue which the budget carrier said is being resolved.   Justice Rajiv Shakdher also asked the Directorate General for...

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In a move that would likely impact both emerging markets like India and advanced economies, the US central bank Wednesday dropped an assurance to be "patienta" in raising interest rates and signaled the hike could come by mid year.   But in a statement issued after a two-day...

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Maharashtra Finance Minister Sudhir Mungantiwar on Wednesday announced the scrapping of the contentious Local Body Tax (LBT) while presenting in the state assembly a Rs.198,000 crore budget for 2015-16 that has a deficit of Rs.3,070 crore and a plan size of Rs.54,999...

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IT bellwether Wipro has invested $5 million (Rs.31 crore) to pick a minority stake in Drivestream Inc., a US-based leading Oracle cloud applications systems integrator, with development centre in Chennai.   "As a strategic partner in Drivestream, we will build an integrated cloud...

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The three island-nation trip that took Prime Minister Modi to Seychelles, Mauritius and Sri Lanka in mid-March may well mark the beginning of India's long-overdue maritime awakening. For a nation so richly endowed with a distinctive maritime geography, the paradox has been the tenacious...

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The Wall Street Journal suggested that the Fed "is about to inject uncertainty back into financial markets after spending years trying to calm investors' nerves with explicit assurances that interest rates would remain low"   The US central bank kicked off a policy meeting that ends...

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Moneylife Digital Team 17 March 2015
Following the footsteps of AAP, the Dr Jayaprakash Narayan-led party expelled three for damaging reputation and credibility of Loksatta Party   Loksatta Party of Dr Jayaprakash Narayan also appears to follow footprints of new age idealistic parties like Aam Admi Party, especially in...

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The price of sugar, both in the domestic market and the international market even with the export incentive, does not make the whole business viable. No wonder, several large sugar mills are seriously considering closure as an option due to this disparity in prices   According to...

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Moneylife Digital Team 17 March 2015
Dena Bank is trying every trick to avoid vacating its branch office near Mumbai whose lease has expired over 32 months ago. This is a lesson to property owners who believe that it is ‘safe’ to rent their premises to government organisations   Property owners usually believe that...

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Moneylife Digital Team 17 March 2015
US-based Mirach Capital further accused Sahara's representatives of breaching an exclusivity contract with it following public comments by its CEO Sharma regarding the group's acquisition strategy of the Sahara assets   US-based Mirach Capital said it is initiating a $400 million...

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If and when the 5/20 rule is revised, the immediate advantage would go to GoAir, which has more than five years domestic flying experience and is currently short of one aircraft to meet the fleet requirement of 20    It was in 2004, the Cabinet had cleared the 5/20 rule for permitting...

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Finance Minister Jaitley said it was a routine drill that police have to undertake to ensure security of the VIPs active in Lutyens' Delhi   The union government on Monday dismissed the charges of snooping on Congress vice-president Rahul Gandhi as the party members, supported by...

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Police said such surveys are conducted at all protected persons' offices from time to time and no personal questions were asked   The Congress was on Saturday miffed over the visit of Delhi police officials to the party office here seeking details of Rahul Gandhi's physical...

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Rajeev Chandrasekhar 13 March 2015
Insurance Bill will positively impact the nearly 800 million uninsured Indians as well as help consumers with easy access to and affordable insurance   The Insurance Laws (Amendment) Bill, 2015 is the National Democratic Alliance (NDA) government’s first significant piece of economic...

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Moneylife Digital Team 13 March 2015
Cairn India, the unit of Vedanta, said it received a demand notice of Rs20,495 crore from income tax department for alleged failing to deduct withholding tax on alleged capital gains arising during 2006-07 in the hands of its parent Cairn UK Holdings   The Income Tax (I-T)...

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Moneylife Digital Team 12 March 2015
Sonia Gandhi led a march to show solidarity to Singh’s residence in which several of former ministers Chidambaram, Anand Sharma, Ambika Soni, Veerappa Moily and K Rehman Khan were present   Former Prime Minister Manmohan Singh on Thursday thanked the Congress and party Chief Sonia...

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Moneylife Digital Team 12 March 2015
According to the Chief Economic Advisor although it was unreasonable to expect big bang reforms announcement in annual Budget, the Narendra Modi government is moving ahead slowly but steadily   In vibrant democracies like India, with multiple veto centres, it is “unreasonable” to...

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