“The next biggest problem may be a currency crisis. It is a possibility that the next crisis awaiting the world is a currency crisis,” renowned currency expert and Non-Executive Director of Elara Capital, Avinash Persaud, told PTI here.
The government today said it is looking into the report submitted by the expert group set up to suggest steps for monitoring the end-use of IPO funds and would take appropriate action to prevent misuse of IPO money.”The report (of expert group) has been submitted. We will certainly read the report carefully. But we can only tell you the finding after we finish reading it,” Corporate Affairs Minister Salman Khurshid said when asked about the findings of the report.
The government today said it is planning to allow banks and financial institutions to issue long-term tax-free bonds specifically to fund the crucial infrastructure sector requirements. “What has been proposed is that there will be financial entities and banks, which will be authorised to issue infrastructure bonds to raise money specifically for lending in infrastructure activities,” finance secretary Ashok Chawla told reporters here today.
The Meghalaya budget 2010-11, presented in the Assembly today, proposed to hike the VAT rate on all items, barring wheat and rice, from four per cent to five per cent. Presenting the budget, Finance Minister Mukul Sangma proposed to raise the royalty rate on coal to realise Rs 42 crore. The tax on luxuries will be amended to rationalise the room tariffs, he added.
