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Wednesday, July 08, 2009
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WEB EXTRAS

TAXATION: ‘Natural gas’ tax holiday only for NELP-VIII blocks
New Delhi, July 7 The Budget 2009-10 move to extend tax holiday for profits arising from commercial production of natural gas will be applicable only in respect of hydrocarbon exploration blocks awarded under the New Exploration Licensing ...

DISINVESTMENT: Govt will not crowd out corporate borrowing
Divestment roadmap will have stakeholders’ input: Pranab. New Delhi, July 7 The Finance Minister, Mr Pranab Mukherjee, has assured the private sector that the proposed higher Government borrowing for 2009-10 would be planned in such a ...

EXCISE AND CUSTOMS: Oil majors stumped by excise duty hike on branded fuels
Cos fear that their share will fall to 15% of total sales. New Delhi/Mumbai, July 7 Oil marketing companies (OMCs) that got little by way of pricing policy announcements from Mr Pranab Mukherjee in the Budget are now flummoxed by the move to ...

BUDGET: Higher State grants to offset fall in tax transfers
Bangalore, July 7 The slowdown has hit statutory transfer of tax revenues to States, but grants and loans to the States are slated to offset this fall. The increase in funds transfer under grants is primarily for non-Plan purposes. Unlike ...

RURAL DEVELOPMENT: More funds for Bharat Nirman, NREGA to boost rural growth
Mangalore, July 7 The increase in allocation to Bharat Nirman and NREGA in the Union Budget will help boost rural economic growth, according to the representatives of trade and industry ...

TAXATION: Industry welcomes Budget proposals
New Delhi, July 7 Industry on Tuesday congratulated the Finance Minister for paying heed to their suggestions in the ...

HEALTH: Patients to benefit on some segments
Mumbai, July 7 Could it be the swine flu effect or just regular seasonal flu? An influenza vaccine has come in for singular attention in the Budget, along with nine other critical drugs used in the treatment of cancer, rheumatology and ...

BUDGET: Commodity prices may go up
Bangalore, July 7 Prices of commodities moved by railways and waterways are expected to cost more, with the two being brought under the service tax net. But the increase in the rail freight rate would still be cheaper than the road ...

CREDIT MARKET: Core sector funding: Banks await details
Mumbai, July 7 Welcoming the announcements in the Union Budget, with regard to infrastructure sector lending — takeout financing and refinance through the India Infrastructure Finance Company Ltd (IIFCL) — banks officials said ...

ECONOMY: Manmohan to take up economic crisis issue at G8-G5 meet
New Delhi, July 7 The Prime Minister, Dr Manmohan Singh, on Tuesday left for Italy to attend the G8-G5 Summit in L’Aquila, ...





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Markets (July 07)
Nifty (at close)4,202.15 (+36.45)
US Dollar (Buy/Sell)48.44/45
Brent crude (a bbl) Rs3,063
Gold (a gram) Rs1,353
Silver (a kg) Rs22,765


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