Profit This Week: India Q4 GDP lowest in 9 years; Cabinet clears New Telecom Policy
By Shivani Muthanna | Published On: June 02, 2012 09:00 (IST) | Duration: 25 min, 21 sec
India's growth in the fourth quarter slipped to 5.3 per cent, lowest in 9 years. It is a sign of the economy getting derailed. Meanwhile, Cabinet cleared the New Telecom Policy that suggests a single license across India. Elimination of roaming charges and national number portability will also be allowed over time. Government affirms that there will be no relaxation on the penalty clause on Vodafone; refuses to soften its stand. It is now looking to slap tax claims similar to Vodafone on a host of MNC deals that could garner an additional 25,000 crore.