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NEW DELHI: In a strong message to multinationals campaign against taxing Vodafone, Government today ruled out any rethinking on the issue making it clear that India cannot be a tax haven just to attract foreign investment.
Tuesday, May 08, 2012 AT 08:33 PM (IST)
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NEW DELHI: Giving in to demands from various sections, government today rolled back the one per cent excise duty levy on branded or unbranded precious metal jewellery and deferred implementation of tax avoidance rules on foreign investors but left untouched the proposal to tax Vodafone-type deals retrospectively.
Monday, May 07, 2012 AT 06:46 PM (IST)
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NEW DELHI: Global agency Standard and Poor's (S& P) today lowered India's rating outlook to negative and warned of a downgrade in two years if there is no improvement in the fiscal situation and the political climate continues to worsen. The lowering of outlook from stable (BBB+) to negative (BBB-) is expected to make external commercial borrowings expensive for Indian Inc.
Wednesday, April 25, 2012 AT 03:07 PM (IST)
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NEW DELHI: Telecom regulator TRAI today proposed a steep minimum price for auction of 2G telecom spectrum, setting off fears of a hike in mobile phone tariffs which are at present among the cheapest in the world. The regulator, whose recommendations are not binding on the government, valued 2G spectrum at about Rs 7 lakh crore, nearly seven times more than Rs 1.
Monday, April 23, 2012 AT 08:30 PM (IST)
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WASHINGTON: Asserting that government is committed to economic reforms, Finance Minister Pranab Mukherjee today said it is now time for taking some hard decisions and expressed confidence that three key legislations on pension, banking and insurance will be passed this year.
Saturday, April 21, 2012 AT 05:56 PM (IST)
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MUMBAI: The Reserve Bank of India (RBI) Tuesday cut some key rates by 50 basis points in a bid to push industrial growth and stimulate economy -- a move that may also see interest rates falling on housing, automobile and commercial loans. Announcing the monetary policy for the current fiscal, RBI Governor D.
Tuesday, April 17, 2012 AT 03:23 PM (IST)
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PUNE: Motorcycle maker Bajaj Auto said sales last month rose 9 per cent year-on-year to 3,35,515 units, which is highest ever for any of the months of March, the company said in a release. The company sold 3,00,848 motorcycles in March, which is an increase of 10 per cent year-on-year, while commercial vehicle (three-wheeler) sales rose by four per cent from previous year to 34,667 units.
Wednesday, April 04, 2012 AT 08:33 PM (IST)
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PUNE: City-based company Texol Engineering Pvt Ltd has completed a large size research pilot plant project for converting biomass into ethanol for research and development centre of the Indian Oil Corporation Ltd (IOCL) at Faridabad, a company release said on Monday. “Conventionally, ethanol is produced from sugar cane, sugar beets or from starch based food grains.
Wednesday, April 04, 2012 AT 08:29 PM (IST)
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KOLKATA: Finance Minister Pranab Mukherjee today said that inflationary expectations would be in the six to seven per cent range. "My inflationary expectations will be between six and seven per cent and not below that," Mukherjee said. He said that if the inflationary expectations were below that, then it would lead to stagflation and growth would be hampered.
Saturday, March 31, 2012 AT 06:03 PM (IST)
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NEW DELHI: Attributing the worsening fiscal situation to mainly soaring crude prices in global markets, Finance Minister Pranab Mukherjee today said the government will take "difficult decisions" in the coming months. "In meeting the (fiscal deficit) targets...
Saturday, March 24, 2012 AT 10:53 PM (IST)
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