New Delhi:
1) GAAR draft rules caught in row: PM says not seen
The draft guidelines issued by the Finance Ministry on General Anti-Avoidance Rules (GAAR) today appeared to have got caught in a controversy with Prime Minister Manmohan Singh distancing himself by saying that he had not approved these. (Know why)
GAAR would come into effect from April 1, 2013
2) Petrol price cut by Rs 2.46/litre from midnight; further reduction likely
In a relief to inflation-battered common man, petrol price was cut by Rs 2.46 per litre, the second reduction this month. (Read here) The automobile industry said the petrol price cut is a step in the positive direction for the sector that is struggling with a demand slump, but asked for more such moves to reduce the difference with diesel.
3) Economy could rebound in 3-4 months: Kaushik Basu
Kaushik Basu, chief economic advisor at the finance ministry, has said he hopes the economy will bounce back in “three or four months.” He is loath to give an assurance, however, as differences between political parties are a major stumbling block, he says. (Read more)
4) Government determined to contain fiscal deficit: C Rangarajan
The Centre is determined to contain fiscal deficit to spur economic growth and will take action in this regard, the chairman of the Prime Minister's Economic Advisory Council, C Rangarajan, said on Friday. (Click here to read more)
5) Sensex soars 439 points, ends at 2-month high
Positive global cues and a turnaround in domestic sentiments drove equities to a two-month high Friday. The 30-share BSE Sensex jumped 439 points or 2.6% to end at 17,430, a level seen for the first time since May 2. The 50-share Nifty index advanced 130 points to close at 5,279. (Full market report)
Rupee surges by 151 paise to 55.61/$; highest in 9-days | What keeps rupee under pressure
6) TCS annual general meeting: Slow recovery in West likely
TCS chairman Ratan Tata on Friday addressed his last annual general meeting of Tata consultancy Services. Tata is set to step down from the board of the Tata group in December, and will make way for Cyrus Mistry, who was appointed deputy chairman last November. (Highlights)
7) Ministerial panel on spectrum to meet on Monday, Pawar to chair
The empowered group of ministers on telecom will meet on Monday and decide on the price for spectrum auction, sources informed NDTV Profit on Friday. (Know More)
8) Core sector growth picks up in May at 4.6 per cent
The growth of eight core sector industries picked up at 4.6 per cent in May, from 2.2 per cent in April, government data released on Friday showed. On an annual basis, growth for the April-May period stood at 4.2 per cent, lower than the 5 per cent reported in the same period last year. (Details)
9) Cabinet to decide on pay cuts for Air India pilots and senior staff
Aviation ministry is all set to take the approval of the cabinet on few key recommendations of the Dharmadhikari committee report. These recommendations are on pay parity and salary restructuring of Air India and Indian Airlines. (Read More)
10) After Ford, now General Motors India to cut production on slow demand
The Indian unit of General Motors expects to stop production at its plants for one day a week until the festive season, due to slow demand, its head said on Thursday. (Know Why)
- GAAR draft rules caught in row: PM says not seen
- Petrol price cut by Rs 2.46/litre from midnight; further reduction likely
- Economy could rebound in 3-4 months: Kaushik Basu
- Government determined to contain fiscal deficit: C Rangarajan
- Sensex soars 439 points, ends at 2-month high
- TCS annual general meeting: Slow recovery in West likely
- Ministerial panel on spectrum to meet on Monday, Pawar to chair
- Core sector growth picks up in May at 4.6 per cent
- Cabinet to decide on pay cuts for Air India pilots and senior staff
- After Ford, now General Motors India to cut production on slow demand
1) GAAR draft rules caught in row: PM says not seen
The draft guidelines issued by the Finance Ministry on General Anti-Avoidance Rules (GAAR) today appeared to have got caught in a controversy with Prime Minister Manmohan Singh distancing himself by saying that he had not approved these. (Know why)
GAAR would come into effect from April 1, 2013
2) Petrol price cut by Rs 2.46/litre from midnight; further reduction likely
In a relief to inflation-battered common man, petrol price was cut by Rs 2.46 per litre, the second reduction this month. (Read here) The automobile industry said the petrol price cut is a step in the positive direction for the sector that is struggling with a demand slump, but asked for more such moves to reduce the difference with diesel.
3) Economy could rebound in 3-4 months: Kaushik Basu
Kaushik Basu, chief economic advisor at the finance ministry, has said he hopes the economy will bounce back in “three or four months.” He is loath to give an assurance, however, as differences between political parties are a major stumbling block, he says. (Read more)
4) Government determined to contain fiscal deficit: C Rangarajan
The Centre is determined to contain fiscal deficit to spur economic growth and will take action in this regard, the chairman of the Prime Minister's Economic Advisory Council, C Rangarajan, said on Friday. (Click here to read more)
5) Sensex soars 439 points, ends at 2-month high
Positive global cues and a turnaround in domestic sentiments drove equities to a two-month high Friday. The 30-share BSE Sensex jumped 439 points or 2.6% to end at 17,430, a level seen for the first time since May 2. The 50-share Nifty index advanced 130 points to close at 5,279. (Full market report)
Rupee surges by 151 paise to 55.61/$; highest in 9-days | What keeps rupee under pressure
6) TCS annual general meeting: Slow recovery in West likely
TCS chairman Ratan Tata on Friday addressed his last annual general meeting of Tata consultancy Services. Tata is set to step down from the board of the Tata group in December, and will make way for Cyrus Mistry, who was appointed deputy chairman last November. (Highlights)
7) Ministerial panel on spectrum to meet on Monday, Pawar to chair
The empowered group of ministers on telecom will meet on Monday and decide on the price for spectrum auction, sources informed NDTV Profit on Friday. (Know More)
8) Core sector growth picks up in May at 4.6 per cent
The growth of eight core sector industries picked up at 4.6 per cent in May, from 2.2 per cent in April, government data released on Friday showed. On an annual basis, growth for the April-May period stood at 4.2 per cent, lower than the 5 per cent reported in the same period last year. (Details)
9) Cabinet to decide on pay cuts for Air India pilots and senior staff
Aviation ministry is all set to take the approval of the cabinet on few key recommendations of the Dharmadhikari committee report. These recommendations are on pay parity and salary restructuring of Air India and Indian Airlines. (Read More)
10) After Ford, now General Motors India to cut production on slow demand
The Indian unit of General Motors expects to stop production at its plants for one day a week until the festive season, due to slow demand, its head said on Thursday. (Know Why)
