INDUSTRY & ECONOMY
ECONOMY
Rules on FRBM Act bind Govt to bring down fiscal deficit
THE Ministry of Finance had notified the rules under the Fiscal Responsibility and Budget Management (FRBM) Act under which the Government would be mandated to annually reduce the revenue deficit by at least 0.5 per cent and the fiscal deficit by ...
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India ranked fifth in MasterCard consumer confidence survey
A SURVEY by MasterCard International to determine consumer confidence in South Asia and West Asia has ranked India fifth among the countries of the region. The survey has attempted to understand and anticipate consumer confidence level using ...
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EXCISE AND CUSTOMS
Even one buyer makes a market
GOODS, for purpose of levy of Excise duty, must be movable and marketable, as established through a number of cases. One more case that has been reported recently, though decided years back, is of FGP Ltd where the apex court held that ...
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PETROLEUM
Oil companies asked to undertake kerosene delivery
THE Petroleum Minister, Mr Mani Shankar Aiyer, has asked the oil marketing companies to undertake the responsibility of delivering kerosene to the end-consumer, according to oil industry sources. At a meeting with the heads of the public ...
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Petrol, diesel price band mooted
THE Government is planning to allow oil marketing companies limited freedom to revise prices of petrol and diesel. The proposed formula would allow oil companies to automatically alter the prices of petrol and diesel by around Rs 1-Rs 1.50 per ...
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STEEL
Another round of finished steel price hike likely
IS another increase in finished steel prices round the corner? It seems to be so from the general uptrend in the seconds steel market and overall demand picking up from the downstream processing industries for it. In general prices of various ...
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RAILWAY BUDGET
Will Railway Budget tread the reforms track?
The Railway Minister's options are not many as resistance from user industries for any adjustment in freight is too open to be brushed aside.
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AUTOMOBILE COMPONENTS
Auto parts sourcing revving up
OVERSEAS buyers of Indian automotive components are stepping up their purchases. Several buyers have expressed satisfaction over Indian products and are in the process of expanding their source-base here. A noteworthy feature of the outsourcing ...
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DISINVESTMENT
Govt plans to disinvest 5.25 pc stake in NTPC — To ride piggyback on IPO
THE Government is planning to disinvest 5.25 per cent of its equity in National Thermal Power Corporation (NTPC). The sell-off is set to ride piggyback on the ongoing process by NTPC to float an initial public offering (IPO) amounting to 5.25 ...
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SOCIAL WELFARE
Minorities body to get more funds
THE Government will increase fund allocation to the National Minorities Development and Finance Corporation (NMDFC). NMDFC provides micro finance, educational loans, design development and marketing assistance to artisans in the minority ...
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RURAL DEVELOPMENT
Harsud — a town waiting to be submerged
PARAS Sand is a small town businessman like any other you will find all over India. Except that he happens to be residing in the doomed town of Harsud that will be literally washed off the country's map in the next fortnight. He is today a ...
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EXPORTS & IMPORTS
Input-output norms for 59 export items announced
THE Directorate General of Foreign Trade (DGFT) has notified standard input-output norms (SIONs) for 59 new export items. The fixation of SIONs would facilitate the issue of advance licences to exporters of these items without reference to the ...
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