Investment guidelines for the telecom sector are likely to be diluted following a Department of Telecommunications (DoT) proposal to reduce the mandatory lock-in period for promoter's equity from five years to three years for private basic services projects. This will apply to existing licensees, it is learnt. The matter is likely to be discussed at the next meeting of the Telecom Commission.

Mid-course correction for additional revenue mop-up

With indirect tax collections growing by less than five per cent in the first half of the current fiscal, the Finance Ministry is firming up a course correction exercise for additional revenue mobilisation. The package is likely to comprise a mix of commodity-specific revision in duty rates, some across-the-board revenue raising measures and expenditure cuts. Excise collections during April-September logged over seven per cent growth to touch ₹22,000 crores. Customs collections, on the other hand, stood lower, at around Rs. 20,000 crores over this period, registering a growth of around two per cent.

Onion exports banned, 13,000 tonnes to be imported

The Government has banned export of onions and decided to import 13,000 tonnes of the vegetable in a bid to check the price rise. The onions to be imported immediately from the nearest available sources, possibly from Oman and Iran, will hit the market latest by next week, an official spokesman said. While the National Agricultural Federation (NAFED) would import 10,000 tonnes for sale across the country, the Delhi Government would bring in 3,000 tonnes to tide over the onion crisis in the city.

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