China will build 56 more airports in the next five years to expand its transport capacity, a senior Chinese civil aviation official said on Thursday. Li Jiaxiang, head of the Civil Aviation Administration of China, said the total number of airports in the country is likely to cross 230 in next five years with an expected aircraft fleet of over 4,500 units, enough to carry 450 million passengers annually.Presently, the country has 175 airports.
A government body has recommended that state-run BSNL should merge its counterpart MTNL and telecom equipment manufacturer ITI with itself, a move that will help turn around the loss-making telecom giant. The board strongly recommends the merger of ITI Ltd with BSNL, or its takeover by BSNL as a separate subsidiary, thereby ensuring strategic vertical integration.
A growing number of investors from India are showing interest in Dubai as they look to capitalise on 60 per cent savings per square foot in the Dubai property market, a Dubai-based real estate company has said. DAMAC Properties said in addition to the price disparity, Dubai’s property market is becoming increasingly attractive to foreign investors due to the implementation of a raft of new regulations, such as the new Strata law, which favours home owners.
“I am happy that the Government and representatives of civil society have reached an agreement in our mutual resolve to combat corruption. This is a scourge that confronts all of us. The Government intends to introduce the Lokpal bill in Parliament during the monsoon session. The fact that civil society and Government have joined hands to evolve a consensus to move this historic legislation augurs well for our democracy. I am pleased that Anna Hazareji has agreed to give up his fast.
The Government of India has issued a Notification constituting a Joint Drafting Committee to prepare a draft of the Lok Pal Bill. The Joint Drafting Committee shall consist of Five nominee Ministers of the Government of India and Five nominees of Shri Anna Hazare (including himself). The five nominee Ministers of the Government of India are as under:-
Government will introduce the Lokpal Bill during the monsoon session of Parliament, and once passed, corruption cases will be handled by fast track courts for speedy disposal, Minister of State for Parliamentary Affairs Ashwini Kumar today said. Describing corruption as a “national issue” and not the concern of just an individual or any political party, Kumar told reporters here that the government”s accountability and responsibility would increase with the passage of the legislation.
The Central Bureau of Investigation has arrested an Income Tax Officer posted in Ward-1, Warangal (Andhra Pradesh) for demanding and accepting a bribe of Rs.One Lakh from the complainant. A case was registered U/S 7 of PC Act, 1988 against the Income Tax Officer, Ward-1, Warangal on the basis of written complaint lodged by the complainant, a Civil Surgeon, on the allegation that the accused demanded an illegal gratification of Rs.1,00,000/- from the complainant for doing favour in the matter of assessment of income tax. A trap was laid and the accused was caught red handed while demanding and accepting a bribe of Rs.1,00,000/- from the complainant.
Addressing concerns of garment manufacturers, the Central Board of Customs and Excise today said effective rate of excise on branded apparel is only 4.50 per cent and small manufacturers are exempted from the levy. “Manufacturers having a turnover of Rs four crore are eligible for SSI (small scale industry) exemption from central excise duty for clearance up to Rs 1.5 crore, “the CBEC said in a public notice.
Knitwear exporters from Tirupur have requested the Centre to impose 15 per cent export duty on cotton yarn immediately to prevent a spurt in yarn prices in the domestic market. This would help the knitwear sector have a level playing field in international markets and compete effectively, Tirupur Exporters” Association President A Shaktivel said in a representation to Commerce and Industry Minister Anand Sharma.
Finance Act, 2011[8 OF 2011] An Act to give effect to the financial proposals of the Central Government for the financial year 2011-2012. Download Finance Act, 2011 [8 of 2011] Assented by the President on 8-4-2011
