-The Times of India BANGALORE: Holders of fixed deposits have been earning a negative return in real terms for most of the preceding five years, thanks to inflation outstripping interest rates. To make matters worse, depositors continue to be taxed on this nominal income. Although bank fixed deposits have never been tax friendly, the level of compliance has been sketchy. But compliance is slowly getting stricter. In the past, RBI norms required banks...
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Food Security Bill to partly hurt ongoing recovery; 1QFY14 earnings in focus
-The Economic Times MUMBAI: The Union Cabinet this week passed an ordinance to implement the National Food Security Bill (NFSB). The bill guarantees legal entitlement of food grains at a subsidised price to ~67 per cent of India's population. The ordinance will come into effect immediately once it is signed by the President. But it also needs to be approved by both the houses of Parliament in the monsoon session within six...
More »Dumping of muck by hydro power projects near rivers poses big hazard in Himachal Pradesh -Anand Bodh
-The Times of India SHIMLA: Muck generated by hundreds of hydro power projects in Himachal Pradesh is being dumped along river beds, which has disturbed the natural course of major rivers in the state. With large scale construction of houses and hotels along the banks of major rivers, especially Satluj, Beas and Parbati, even a slight change in the course of these rivers could wreak havoc, like in Uttarakhand, where the...
More »CAG had warned three years ago about damage to hills -Pradeep Thakur
-The Times of India NEW DELHI: The devastation in the Garhwal Himalayas was pretty much on predicted lines and man-made. An environmental assessment of the Bhagirathi and Alaknanda rivers three years ago by the Comptroller and Auditor General (CAG) had warned of severe hazards both for natural ecology and stabilization of hill slopes along the riverbed, erosion of which has resulted in hundreds of casualties in the flash floods. The report --...
More »Rain toll rises to 131, over 73,000 pilgrims stranded
-The Times of India DEHRADUN/SHIMLA: Torrential rains continued to pour in bad news from north India on Tuesday, with flash floods, cloudbursts and landslips claiming 69 more lives and taking the official death toll to 131, making for the most tragic tidings of monsoon in recent years. More than 73,000 pilgrims bound for the Himalayan shrines of Kedarnath, Badrinath, Gangotri and Yamunotri remained stranded in Uttarakhand and about 1,700 tourists were...
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