Govt: No higher service tax on air tickets purchased before April 1, 2012

Mumbai : The government has clarified that air travellers who have purchased their tickets before April 1 this year will not have to pay the higher service tax. The Central Board of Excise and Customs said, some airlines are collecting differential service tax on tickets issued before 1st April 2012 for journey after 1st April […]

ADB projects moderate increase in growth rate of 7 % in 2012-13

New  Delhi : The Asian Development Bank, ADB today said that the recent rise in the pace of road construction and clearances for power projects in India is creating positive signal to increase investment in the country. The ADB’s flagship annual publication Asian Development Outlook, however, pointed out that strong economic performance would depend on […]

Rupee down by 13 paise against dollar

Mumbai : The rupee depreciated by 13 paise to trade at a fresh three-month low of 51.60 rupee against dollar on the Interbank Foreign Exchange market in early trade, due to capital outflows and increased demand for the American currency from importers. The rupee had lost 33 paise to close at nearly a three- month […]

Sensex falls 150 points in early trade

Mumbai : The BSE benchmark index Sensex today fell by 150 points in early trade, due to fresh selling by funds amid a weak trend on other Asian bourses. The 30-share barometer, which had gained 21.70 points yesterday, lost 150 points to 17,093 in the early trade. In a similar fashion, the wide-based National Stock […]

Govt announces new FDI norms for FIIs

New Delhi : The government today announced new Foreign Direct Investment, FDI norms for Foreign Institutional Investors, FIIs. Under the new norms, FIIs can now invest up to 23 per cent in commodity exchanges without seeking prior approval of the government. The Department of Industrial Policy and Promotion, DIPP’s consolidated FDI policy and the new […]

Markets cautious ahead of Q4 results, Sensex ends flat

Mumbai : In lacklustre trade, the BSE Sensex gained barely 22 points at 17,243.84 on select buying at lower levels amid investor caution ahead of fourth quarter corporate earnings, RBI monetary policy and weak European markets. Capital goods, IT and metal stocks faced selling, while FMCG counters attracted good buying. Recently battered banking stocks too […]

Car sales growth slowest in 2 yrs, 10-12 pc expected in FY13

New Delhi : Car sales in India grew by just 2.19 per cent in 2011-12, the slowest in two years but industry body SIAM on Tuesday said it expects the growth to be around 10-12 per cent in the ongoing fiscal on better macro economic prospects. Society of Indian Automobile Manufacturers (SIAM) that had in […]

RBI Outreach Programme for Financial Inclusion held at Dungarasan, Sihori, Mehsana on 31.03.2012

India launches 4G mobile services

Kolkata : Telecom Minister Kapil Sibal today launched the country’s first ever fourth generation mobile services in Kolkata. Today’s launch is a major milestone for India and Bharti Airtel as it will result in India becoming one of the first countries in the world to commercially deploy the cutting-edge technology. Compared to the existing 3G […]

Sensex gains 48 points on selective buying

Mumbai : The BSE benchmark Sensex recovered by over 48 points in early trade on Tuesday, after two sessions of losses, on selective buying by funds and retailers at prevailing levels. The 30-share barometer, which has lost over 375 points in the past two sessions, rose by 48.32 points, or 0.17 per cent, to 17,270.46, with […]