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Sorry, Manmohan doesn't live here anymore
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THE SUSPENSE will be over around 1 pm on Wednesday. But don’t expect finance minister Yashwant Sinha to run up to the podium and announce that India, finally, has a full-blown VAT in place, discretion over taxes is over, and lobbyists are out of jobs.
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Ranbaxy to net Rs 78cr from Eli Lilly JV
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RANBAXY Laboratories is set to reap a windfall after exiting the joint venture with the $11-billion US pharma major, Eli Lilly.
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Videocon to buy China unit for launch of Web TV
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WITH MOST consumer goods companies being pushed against the wall by cheap imports from China, the Rs 3,500-crore Videocon Group is blazing a trail by acquiring a TV facility in China, one of the first such instances of an Indian electronics company doing so.
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Tokyo stocks fall, $ higher against yen
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TOKYO stocks dropped Wednesday morning, led down by technology shares after their US counterparts stumbled on Wall Street. The US dollar was higher against the yen. The benchmark 225-issue Nikkei Stock Average dropped 144.22 points, or 1.10 per cent, to 12,915.64 at the end of the morning session.
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Nasdaq crashes on weak consumer confidence numbers
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NEWS that consumer confidence has fallen to a more than four-year low left stocks mixed on Tuesday with blue-chips advancing.
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Withdrawal of 80 HHE makes no impact on IT |
| EVEN though the tax liability of software companies has been slowly rising on account of the rapid rise in their revenues, the impact of a withdrawal of the Section 80HHE -— the Section which exempted export profits from taxes in last year's Budget has not had a significant impact. |
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Budget to look at transfer-pricing, e-commerce |
| THE UNION Budget for 2001-02 is likely to include the recommendations of four committees set up by the government. These are the committee on transfer-pricing, the expert group on service tax, the expert group on Rationalisation of the life insurance sector and the committee on e-commerce. |
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Budget may knock off I-T deductions |
| IF the Income-Tax Department has its way the forthcoming Budget is expected to knock off at least some of the over 60 deductions made available under the Income-Tax Act. |
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Armed forces look to Budget to meet big bills |
| THE ARMED forces have started down a long road to modernisation after decades of neglect, and their chiefs hope this week's budget will speed them along. |
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Sinha may have to do the tightrope walk |
| FINANCE minister Yashwant Sinha may have to do a tightrope walk when he presents the budget on Wednesday, which will have to blend populist measures due to the impending assembly elections and tough reform agenda to reverse the economic slowdown. |
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More populist tariff lines on the cards |
| INDIA has one of the most complex tariff structures in the world. A special analysis of the 5,145 tariff lines under amendment in the forthcoming Easy Reference Customs Tariff Budget edition shows that as many 84 tariff lines are under exceptional tariffs ranging from 40 to 210 per cent. |
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Govt likely to lower excise duty on small cars |
| THE GOVERNMENT is likely to effect a time-bound concessional and lower excise duty on small cars in the forthcoming Budget to spur growth in this segment. |
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Steep hike in naphtha duty to help domestic refineries |
| UNION Budget 2001-02 is expected to bring in some good nws for domestic naphtha manufacturers and refining companies, with the government all set to go in for a hefty increase in import duties. |
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LNG, chemicals duty rationalisation likely |
| MOVING in sync with finance minister Yashwant Sinha’s commitment to bring the customs duty structure to Asean levels, Budget 2001-2002 is likely to implement rationalisation of import duty on LNG, chemicals, petrochemicals and provide protection to the domestic capital goods industry. |
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Et tu Manmohan? Reform architect echoes Left |
| EVEN as the disinvestment minister Arun Shourie on Tuesday ruled out a joint parliamentary committee to oversee Balco divestment and promised that the government would continue with big ticket privatisation, the Congress took a uturn on its stand on disinvestment. |
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Babus await Budget with fingers crossed |
| WILL the government bite the bullet? At a time when elections are due in a number of states, a proposal to freeze DA paid to Central government employees for five years is doing the rounds among various administrative departments and the Expenditure Reforms Commission led by former finance secretary K P Geethakrishnan. |
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Wait a month to find out real Budget beaux |
| HOW will the Sensex behave this time on Budget day? The question will be on everyone’s minds as the Yashwant Sinha rises to present his fourth Budget. The odds for either a rise or fall appear evenly poised looking at the events after the last six budgets. |
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DoT links grant of frequency spectrum to network rollout |
| THE DEPARTMENT of telecommunications has decided to allocate frequency spectrum in slices of 1.5 to 2.5 megahertz in the 800-Mhz frequency band, to basic operators who wish to offer "limited mobility" services based on a technology called CDMA, a senior DoT official said on Tuesday. |
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Maruti valuation not done |
| THE CENTRE had not yet carried out the valuation of Maruti Udyog, said senior officials in the Department of Disinvestment and ministry of heavy industries and public enterprises here on Tuesday, while ruling out the determination of the premium on the rights issue. |
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Aptech defers software demerger plan |
| COMPUTER education and software services company Aptech on Tuesday said its board deferred a decision on merging its software business with an unlisted firm controlled by its chairman Atul Nishar. |
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Cipla slashes global price of AIDS drug |
| CIPLA, has cut prices of its anti-AIDS drugs once more. Following its offer to supply a triple-drug therapy for $600 per year to government projects all over the world, the company has effected a cut in prices for all consumers, including individuals, in India. |
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Where will the Sensex go today? |
| HOW will the Sensex behave this time on Budget day? The question will be on everyone's minds when Yashwant Sinha would present his fourth Budget on Wednesday. The Sensex was up on three occasions post Budget in 1996, 1997 and 1999 while in 1995, 1998 and 2000 the Sensex reacted unfavourably to the Budget. |
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MIT information theory pioneer Claude Shannon dies |
| PROFESSOR Emeritus Claude Shannon of the Massachusetts Institute of Technology, considered the father of modern digital communications and information theory, has died, MIT officials said on Tuesday. |
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Author says documents back his case against IBM in Holocaust |
| EDWIN Black marshals page after page of photocopies to rebut charges from Holocaust historians that he has failed to document his allegations that IBM knowingly sold technology to Nazi Germany that helped identify and exterminate Jews and other minorities. |
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New airline to operate in Honduras |
| NINE years after its national flag airline stopped flying, Honduras is gaining a new national airline. Lineas Aereas Nacionales de Honduras, or LAN, will start operations this week, the director of civil aviation, Luis Rolando Leiva, said in an interview. |
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United orders 15 new Airbus jets |
| UNITED Airlines is buying 15 new Airbus jets to replace its aging Boeing 727-200 aircraft in 2003, the carrier said. The new aircraft, to be delivered in the first quarter of 2003, will consist of seven A319s and eight A320s, United said on Tuesday. |
