Financial Daily from THE HINDU group of publications
Friday, February 06, 2004

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BPO backlash — Be seen as value creators, not job stealers: Murthy
THE Indian software industry and the Government will have to avoid grand standing in public and instead engage in bilateral discussions with the US to handle the sensitive issue of outsourcing backlash, urged Mr N.R. Narayana Murthy, Chairman, ... More

L-1 visa abuse — IT cos refute charges
THE Indian IT firms that have been accused of violating US L-1 visa programme by labour organisations have refuted the allegations and reaffiremed their full compliance with the regulations. Commenting on the allegations, the Chief Executive ... More

Govt aims for zero revenue deficit by 2005: Jaswant
THE Government has set itself a target to bring down the revenue deficit to zero levels by 2005, two years ahead of the deadline mandated by the Fiscal Responsibility and Budget Management Act, according to the Union Finance Minister, Mr Jaswant ... More

Earnings performance for Oct-Dec 2003 — India Inc on a high
CORPORATE India is shining - that is what the earnings card for the latest quarter suggests. Firm commodity prices, buoyant automobile sales and the pick-up in expansion and replacement demand lead to a 40 per cent rise in earnings for 1,000 ... More

Govt slashes IIM course fees to Rs 30,000
THE Government on Thursday drastically cut the fees for Post-Graduate programmes at the Indian Institutes of Management (IIMs) to Rs 30,000 per annum from over Rs 1.5 lakh per annum. "It has been decided that the fees for the Post-Graduate ... More

`State pension payout grows faster than revenue'
PENSION payments of State Governments are growing at 23.6 per cent annually, while their revenues are growing only at around 14 per cent. This is from the report of a study group appointed by the Reserve Bank of India to look into the growing ... More

NTPC public issue gets clearance
THE Cabinet has cleared a proposal for National Thermal Power Corporation (NTPC) to float an initial public offering (IPO) for up to 10 per cent of its equity. According to the Power Secretary, Mr R.V. Shahi, a 10 per cent float will raise around ... More

Damodaran to continue as IDBI chief till May 31
MR M. Damodaran will continue to be the Chairman and Managing Director of IDBI till May 31, 2004. IDBI today informed the BSE that the Finance Ministry has decided to entrust the charge of IDBI CMD to Mr Damodaran till May 31. Mr Damodaran, ... More

FIIs pull-out peaked on Feb 3
FOREIGN Institutional Investors (FIIs) pulled out a whopping Rs 436 crore from the Indian equity market on Tuesday (February 3). The net sale booked by them on that day is the largest in the past year. FIIs purchased stocks worth Rs 694.2 ... More

Net worth in 98 PSUs negative: CAG
EVEN as the disinvestment of public sector enterprises (PSUs) in the country remained mired in controversy and dilatory tactics, the Comptroller and Auditor General of India (CAG) has said that the aggregate net worth of as many as 98 companies ... More

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Looking back
Jan. 25-Jan. 31
Finance Ministry plans omnibus insurance law

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