The silence at Cancun on the future of the Kyoto Protocol has cast a cloud of uncertainty over the emission trading business (carbon credits) in India.Experts are interpreting the situation in different ways, with the overall view being that the emission trading business has to stay in one form or the other, if carbon emissions are to be reduced. However, for now, the $2 billion per year market for Indian...
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Aware of corporate nervousness over phone tapping: PM
Prime Minister Manmohan Singh Tuesday said he was aware of the "nervousness in the corporate sector" over phone tapping and asked cabinet secretary KM Chandrasekhar to look into the matter and submit a report within a month. "I am aware of the nervousness in the corporate sector arising out of the powers conferred upon the government authorities to tap the phones for protecting national security and preventing tax evasion and money...
More »FinMin probing more than 100 overseas deals for tax evasion
The Finance Ministry has begun its maiden investigation into over 100 offshore "financial structuring deals" undertaken by Indian business entities in foreign tax havens to allegedly evade the taxman's net. The multi-pronged probe has been undertaken by the international taxation wing of the Income Tax department and the foreign taxation unit in the Central Board of Direct Taxes (CBDT). A number of investments and deals to the tune of billions of rupees...
More »India-EU generic drug row 'resolved' at Brussels summit
A row between the EU and India over the transit of generic drugs through Europe has been resolved, negotiators told Reuters news agency.As a result of the deal at an India-EU summit in Brussels, an Indian complaint to the World Trade Organization will be suspended, India's trade minister said.But some fear the free trade agreement (FTA) at the core of the summit will hurt generic drug production.The FTA, one of...
More »India needs to spend more on healthcare: Robert Yates by Aarti Dhar
Appreciating the country's commitment towards universalising health coverage for the people, health economist Robert Yates has said the country needs to increase its public spending on health either by health insurance schemes or taxation.“The entire exercise of constituting a high-level expert group on universal health coverage that India has undertaken has been done at an appropriate time when the economy is growing and the country is getting wealthier as a...
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