-The Telegraph Sualkuchi: The sound of wood striking wood was missing, as was the sight of intricate and colourful patterns on silk taking shape on the loom. This silk town, around 35km from Guwahati and on the North Bank of the Brahmaputa, seemed to have lost its raison d'etre - producing silk products of fame - after the invasion of similar products bearing the name of another town on the bank of...
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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 »UPA Exports wheat at Rs 1,700 crore loss to exchequer -Pradeep Thakur
-The Times of India At a time when the government is facing trouble maintaining its fiscal health and is set to add over Rs 1.25 lakh crore to its subsidy bill for providing food security to its poor, the UPA has burdened the exchequer further by Exporting wheat at lower than its cost price - incurring an estimated loss of over Rs 1,700 crore. Sources in the finance ministry said the loss...
More »European Union-India FTA may hit generic medical industry-Rema Nagarajan
-The Times of India The free trade agreement that European Union is pushing India to sign could put an end to India's status as the pharmacy of the developing providing affordable medicines, especially HIV drugs to countries like Brazil, Thailand, South Africa, Zimbabwe and several others. The negotiations with EU are on at a feverish pace this week in Brussels even before the parliamentary standing committee looking into the free trade...
More »India’s rich are the problem-CP Chandrasekhar
-The Hindu Even as the Reserve Bank of India (RBI) frets over the high rate of inflation and wards off pressures to cut interest rates, it is faced with another challenge. Balance of payments data for the second quarter of 2012-13 show that the current account deficit continues to rise, and has touched a record 5.4 per cent of GDP. Both of these developments that would be considered signs of “overheating”...
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