-The Times of India NEW DELHI: The Competition Commission of India (CCI) on Wednesday imposed penalty of over Rs 6,700 crore on 10 cement companies including ACC, Lafarge, Ultratech, Jayprakash Associates, Binani and their trade association the Cement Manufacturers Association (CMA) on charges of cartelisation in the sector. The information in the case was filed by the Builders Association of India against the cement firms and the CMA, alleging that they flouted...
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Minimum wage hiked to Rs. 350, but unions firm on strike plan
-The Hindu Bharatiya Mazdoor Sangh announces it will not take part in the strike. The Left affiliated central trade unions will go ahead with a nationwide strike on Friday, even as the Centre on Tuesday announced sops in a bid to placate them. The peace offering includes a hike in the minimum wage for unskilled non-agricultural workers in central public sector units from Rs. 246 to Rs. 350 a day and formation of...
More »Govt to discuss bill to punish celebrities for misleading ads
-Hindustan Times New Delhi: An inter-ministerial panel is likely to discuss on Tuesday a draft bill prepared by the consumer affairs ministry which seeks to punish celebrities who endorse products that are substandard or make misleading claims. The stringent provisions in the bill include a fine of Rs 10 lakh and jail of up to two years for a first offence by celebrities. For subsequent offences, the draft bill provides a fine...
More »50% of states expected to approve GST by early September -Sidhartha & Surojit Gupta
-The Times of India NEW DELHI: With half the state legislatures expected to ratify the Constitution amendment bill to roll out goods and services tax (GST) by early September, the Centre is now moving to the next stage — deciding on the contentious issue of fixing the rates — so that the ambitious reform initiative is in place by April. Sources said the finance ministry is set to hold consultations on the...
More »To clamp down on black money, govt set to ban cash transactions over Rs 3 lakh -Sidhartha & Surojit Gupta
-The Times of India NEW DELHI: The government is set to ban cash transactions over Rs 3 lakh as it seeks to clamp down on black money in the economy following recommendations from the Supreme Court-appointed Special Investigation Team. The government, however, is yet to decide on the SIT's other proposal to bar cash holdings over Rs 15 lakh due to opposition from trade and industry, sources told TOI. "There are concerns...
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