-Live Mint CERC calls for a variable ‘compensatory tariff' to be offered to Adani Power till fuel situation stabilizes In an unprecedented move, India's apex power sector regulator offered a bailout package to Adani Power Ltd in a late Tuesday order to offset losses on account of the unexpected increase in the prices of imported coal and the unavailability of domestic coal for the company's 4,620 megawatts (MW) thermal power project at...
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No tax relief for SEZs, rules Chidambaram -Sidhartha
-The Times of India In a major setback to special economic zone (SEZ) developers, finance minister P Chidambaram has turned down the commerce department's plea to cut the minimum alternate tax (MAT), which was imposed two years ago. A lower or no tax burden was cited as one of the main drivers for boosting investment in what were until recently duty-free enclaves. The commerce department had made a case for reversing Chidambaram's...
More »Aakash is no silver bullet-Akshat Rathi
-The Hindu The government needs to open its eyes and realise that the technological utopia it envisions in the low-cost tablet is no cure for poor education, poverty or inequality The last few days have brought the Aakash tablet back into the media limelight. Last Friday, Human Resource Development (HRD) Minister M.M. Pallam Raju said that troubles with the manufacturer could doom the project. But the next day, former HRD Minister Kapil...
More »Tax officials told to crack down harder on black money -Lubna Kably
-The Times of India MUMBAI: Tax authorities will intensify their efforts to crack down on unaccounted-for money stashed overseas by seeking information from their counterparts in other countries. A recent letter issued by the Chairperson, Central Board of Direct Taxes (CBDT) bears testimony to this intention. To ensure that Indian tax authorities have access to information from other countries and can thus tackle the menace of black money and tax avoidance, several...
More »Schools ‘collecting fees’ from children under RTE-Tanu Kulkarni
-The Hindu ‘They cannot charge for tuitions but only for extra facilities' Bangalore: A 37-year-old taxi driver, Manjunath Gowda (name changed), had brought a chocolate cake for his family after his six-year-old daughter secured a seat in a sought-after private school in Uttarahalli under a provision of the Right of Children to Free and Compulsory Education (RTE) Act 2009, which guarantees 25 per cent of the seats in private unaided schools to...
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