ECONOMY & NATION


Cairn India in its petition had sought the quashing of the tax demand, as it felt there was an undue delay in initiating the proceedings -- a lapse of over six years   With the Delhi High Court to resume hearing on Wednesday on the Rs.20.495 crore tax case slapped on Cairn India,...

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Farmers and the entire value chain in the farming sector are strangulated by regulations of over 12 ministries   Farmers’ distress is once again dominating the headlines, following unseasonal rains. Agriculture is constitutionally a state subject, but, in practice, all policy...

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With decline in oil and commodity prices, the Indian economy is expected to grow by 7.5 percent in 2015-16, 7.9 percent the next fiscal and 8 percent in 2017-18, the World Bank said in its India Development Update report on Tuesday.   "Aided by a supportive external environment, in...

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Moneylife Digital Team 28 April 2015
An economic consultant commissioned by Adani told an Australian court that state royalties to Queensland would range from $3.7 billion to $4.8 billion with 1,464 jobs created over 30 years and not 10,000 jobs and $22 billion the company has used in seeking government approval   An...

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The Delhi High Court has directed the now defunct Kingfisher Airlines to pay over Rs.52 lakh to a female ex-pilot, on her plea seeking outstanding salary for a period of 21 months.   Justice Jayant Nath ordered the grounded carrier to pay Rs.52,61,450 with nine percent interest to the...

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In a move that will cut by Rs.36,000 crore the future capital expenditure of Reliance Power, a part of the Anil Ambani-led group, the company announced on Tuesday that it has terminated the power purchase agreement of its 3,960-MW ultra mega project at Tilaiya in Jharkhand.   Citing...

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Responding to an exhaustive debate in the Rajya Sabha on the agrarian crisis, Agriculture Minister Radha Mohan Singh said the data is based on the reports received from the affected states   The government on Monday told parliament that crops in 189 lakh hectare have been damaged due...

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India's national airline is downsizing its booking operations to bring down operating expenses and has closed down 23 such offices across India, parliament was told on Monday.   Minister of State for Civil Aviation Mahesh Sharma informed the Lok Sabha that Air India has closed down 23...

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IA NS 28 April 2015
Telecom Secretary Rakesh Garg chaired the meeting with the service providers where they were apprised about the growing negative perception with regard to poor quality of telecom services in the country in general and with special emphasis on degrading quality in metros   The...

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Moneylife Digital Team 27 April 2015
The Board of United Spirits said it lost confidence in Vijay Mallya continuing as chairman. Mallya, insists he would continue while blaming others of character-bashing   The Board of United Spirits Ltd (USL), in which Diageo holds majority share, asked Vijay Mallya to resign as...

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Concerned over widespread complaints from consumers across the country about excess billing, incessant call-drops and poor quality of services, telecom operators have ben summoned by the government on Monday to review the situation and find remedies.   The meeting is to be chaired by...

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The company said it has learnt from media reports that the metropolitan magistrate's court in Andheri has, by an ex-parte order, "directed registration of an FIR inter alia against FTIL"   Questioning the legitimacy of Pricewaterhouse Coopers (PwC) audit report on the Multi...

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Chinese smartphone major Xiaomi said on Sunday that Ratan Tata, chairman emeritus of the Tata group, has acquired a stake in Xiaomi Technology in a deal expected to bolster the company's presence in India.   "This is the first investment by any Indian into Xiaomi," the company said in...

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Railways Minister Suresh Prabhu on Saturday said an investment of Rs.8.5 lakh crore would be made in the Indian Railways to strengthen and modernise the railway network.   Prabhu said this while addressing the gathering at the Rohtak railway station, 75 km from New Delhi, where he...

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Expressing satisfaction over the upgrading of India's aviation safety rating to Category 1 by the US regulator FAA, Sathiyavathy said the challenge now is to sustain the top rating   Cautioning against laxity in aviation safety, particularly in the backdrop of incidents elsewhere,...

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Both Samsung Asset Management Co and its counterpart in the Reliance Group will explore areas for developing, managing, marketing and distributing each other's products in India and Korea, while also pursuing their interests in the global markets, the two companies said in a...

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The auction of 67 coal blocks is expected to fetch a revenue of nearly Rs.3,35,370 crore for seven states where the mines are located, besides additional benefit of Rs.69,310.97 crore to consumers "in terms of reduction of electricity tariffs", parliament was informed on...

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The CBI on Thursday raided seven locations in West Bengal and Odisha of the Mangaldeep Land Promoters Ltd. for raising public money through illegal schemes, while a court rejected the bail plea of state minister Madan Mitra who was arrested for his alleged complicity in the multi-crore-rupee...

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Moneylife Digital Team 23 April 2015
The TRACES portal of Income-tax department is preventing deductors from issuing TDS certificate unless past demands, irrespective of whether it is valid or not, are paid     The Tax Deducted at Source (TDS) reconciliation analysis and correction enabling system (TRACES) portal of the...

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Abheet Singh Sethi (IANS) 23 April 2015
Two giant, rock-cut caverns will soon be pumped full of crude oil in the eastern port of Vishakhapatnam, as part of a set of new underground facilities that will hold India's emergency oil reserves, reports IndiaSpend   Taking advantage of weak global crude prices, down 42.5 percent...

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