-PTI NEW DELHI: The services sector contributed a whopping Rs 2.98 lakh crore to Delhi's gross domestic product (GDP) of Rs 3.65 lakh crore in 2012-13, keeping its position as the main driver of the city's economy. The services sector, which includes real estate, hotels, restaurants, banking, insurance, wholesale and retail trade, accounted for 81.54 per cent of Delhi's total GDP in 2012-13 compared to an 81.62 per cent contribution in 2011-12,...
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Blame Govt for high wheat prices -CP Chandrasekhar and Jayati Ghosh
-The Hindu Business Line The general tendency among Indian policy makers currently is to blame international price movements for the rise in prices of essential food items in India. The extent to which this claim is valid is assessed by examining the specific case of wheat. It is no secret that Indian food prices are increasingly affected by international prices. Ever since 2002, when all quantitative restrictions on Indian imports of agricultural...
More »Saradha crisis: Mamata hikes VAT on tobacco for relief fund- Romita Datta
-PTI Mamata Banerjee stages reversal of former apathy towards fate of those affected by Saradha Group demise Kolkata: West Bengal chief minister Mamata Banerjee staged a reversal of her former apathy towards the fate of those whose savings had disappeared amid the collapse of the deposit-taking Saradha Group. Having said on Monday that "what has gone, has gone", Banerjee on Wednesday announced a 10 percentage point hike in value-added tax (VAT) on tobacco...
More »Rajan Mittal quit Bharti Retail after ED launched probe -Rasul Bailay
-The Economic Times Rajan Mittal resigned as director of Bharti Retail last November, barely weeks after the Enforcement Directorate launched a probe into a controversial $100-million investment by Walmart Stores in Cedar Support Services, the holding company of the retail venture. A Bharti spokesman said Mittal had resigned from the board last year to "take out time for his other commitments" and has been replaced by Bharti Group's general counsel and...
More »Interest rates may fall as inflation slows to 3-year low
-The Times of India The inflation rate slowed to a more than three-year low of 5.96% in March on the back of softening vegetable, fruits and milk prices, brightening the prospect of an interest rate cut by RBI while bringing relief for the politically beleaguered government. Lower interest rates would provide relief to thousands of borrowers reeling under the burden of high equated monthly installments ( EMIs) on their home loans. Data released...
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