Financial Daily from THE HINDU group of publications
Thursday, May 01, 2003
Markets (April 30)
BL 2501009.44 (+3.99)
SE Sensex2959.79 (+9.65)
S&P CNX Nifty934.05 (+1.75)
Dollar (Buy/Sell)47.31/47.44
Gold Std (10 gm)5290 (+35)

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Jaswant announces more duty sops — Textiles major beneficiary; `States conformity on VAT must'
LEAVING the introduction of the proposed value-added tax (VAT) regime hanging on a slender thread, the Finance Minister, Mr Jaswant Singh, today announced changes in his 2003-04 tax proposals both on the direct and indirect tax front including ... More

Incoming calls free from today — Most cellular, WLL tariff changes to take time
STARTING tomorrow, cellular subscribers need no longer pay for their incoming calls. They may, however, have to wait a little longer for a change in the tariff plans. The Telecom Regulatory Authority of India (TRAI) has stated that the new ... More

No meeting point on VAT agenda, launch
MAJOR differences over the implementation of a value-added tax (VAT) regime in 16 States from June 1 have cropped up between the Centre and the State Governments, threatening to derail the launch of the new tax reforms. States are not seeing ... More

SBI takes lead, drops lending, deposit rates
STATE Bank of India, the largest bank in the country, has taken the lead in dropping lending and deposit rates on Wednesday following the cut in Bank Rate announced by the Reserve Bank of India on Tuesday. Other banks are expected to follow ... More

Freedom for banks in swapping of branches
BANKS will be free to structure the terms and conditions for swapping branches in the rural and semi-urban centres as allowed in the RBI's credit policy announced on Wednesday. The central bank is unlikely to set any specific guidelines. The ... More

Finance Bill: Highlights of Jaswant's reply

  • Nickel oxide sinter and unwrought nickel used in steel making also exempted from SAD.
  • Full excise duty exemption for Nicotine Polacrilex gum.
  • Reduction in excise duty from 16 per cent to 8 per cent on tiles made by units not ... More

    Tata Tele revises tariffs — BSNL announces new intra-circle rates
    ALL landline subscribers of Bharat Sanchar Nigam Ltd (BSNL) can now call up other landline and limited mobility (WLL) subscribers in the same circle at local call rates. The company has extended its `95' facility beyond 200 km for intra-circle ... More

    RBI advice on rupee export credit
    MUMBAI: The RBI has extended the validity of the one percentage point reduction in the ceiling on rupee export credit to October 31,2003. The apex bank had advised such a reduction first in September 2002, which was to remain in force up ... More

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