-Outlook The Cabinet Committee on Economic Affairs (CCEA) today approved a urea investment policy that is likely to incentivise fertiliser firms setting up new plants and expanding existing capacity. India imports over 30 per cent of urea requirement and the policy aims at reducing that. But, it is unlikely to have any impact on existing prices. "The new urea investment policy has been cleared," sources said after the CCEA meeting here. The policy, which...
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Investment Panel Under PM Formed to Clear Mega Projects
-Outlook The Union Cabinet today cleared the proposal to set up Cabinet Committee on Investment under the Chairmanship of Prime Minister Manmohan Singh to accord expeditious approval to projects of over Rs 1,000 crore. "The proposal to set up the Committee to fast-track mega projects of over Rs 1,000 crore was cleared", sources said. The high-powered body for giving speedy clearance to infrastructure projects was initially mooted by Finance Minister P Chidamabram. He...
More »Documents link Wal-Mart to gutted firm -Steven Greenhouse
—New York Times News Service Documents uncovered at the Tazreen garment factory in Bangladesh where 112 workers died in a fire two weeks ago indicate that not one but two U.S. apparel makers supplying goods for Wal-Mart were using the factory around the time of the fire. Two days after the Nov. 24 fire, Wal-Mart said in a statement that it had stopped authorising production at Tazreen and that despite that move,...
More »Govt yet to decide on raising LPG cap: Moily
-PTI A day after Election Commission rap, oil minister M Veerappa Moily on Wednesday said the government has not yet taken any decision on raising cap on supply of subsidised LPG cylinders and the EC would have been informed before announcing any decision. "If the proposals had been concretised and it was to be announced or decision was to be taken... I would have definitely written to Election Commission of India," Moily...
More »RBI’s KYC guidelines: You can now open a bank account with just one document-Vivek Sharma
-MoneyLife.in The latest RBI KYC guidelines for opening new bank accounts make it a lot easier for common man as only one document would suffice as proof of identity and proof of residence The Reserve Bank of India (RBI) has come with modifications in KYC (Know Your Customer) guidelines. These modifications have been introduced as per the circular date 10 December 2012 (RBI/2012-13/322 DBOD.AML.BC. No. 65/14.01.001/2012-13). It is important to note that...
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