Government will come out with a strategy in next few days to double the country”s export to USD 450 billion by 2014. Commerce and Industry Minister Anand Sharma said that within next three days, the government will come out with the “final strategy” for doubling the export in next three years.
With an aim to rein in cases of over-pricing and over-hyping of IPOs by merchant bankers, market watchdog Sebi wants them to tell the investors about their past record in handling the public offers and also keep the prices at realistic levels. Sebi has expressed its displeasure in very clear terms to the merchant bankers over the cases where IPOs have been priced in such a manner that there is little left on table for the public investors in terms of potential returns, a senior official said.
The department has purchased or acquired many such real estate infrastructure in cities like Kanpur and Allahabad, Panchkula (Haryana), Bangalore, Allapuzha (Kerala), Ahmedabad and Gaya recently and is set to acquire more such land and creation of new infrastructure in the current fiscal. It is also in the process of creating new Aaykar Sampark Kendras (ASKs) — a single window office for taxpayers while dealing with I-T department — in various cities at the cost of crores of rupees.
Faced with stubborn inflation, RBI is likely to raised key policy rates by at least 25 basis points in its annual credit policy for 2011-12 to be announced on Tuesday to arrest the rate of price rise, say bankers. “Given the macro economic conditions, it is expected that the RBI would hike rates by at least 25 basis points to curb inflationary expectations,” Indian Overseas Bank Chairman and Managing Director M Narendra told PTI.
Companies will have to maintain a data bank of email addresses of its members and shareholders, the ministry said, adding that the shareholders should be given enough time and opportunity to get their email-ids registered, and also convey if there are any changes in such addresses. Further, companies will have to make sure that these documents are displayed on its website well before the mandatory period and also issue advertisements in English and vernacular newspapers about the availability of such documents on its website.
The government is likely to announce opening of multi-brand retail to foreign investors after the state Assembly election results, in a move to revive confidence of global investors in the country. However, for starters, multi-brand retail giants like Wal-Mart, Carrefour and Tesco may be allowed only in 36 large cities which have population of over 1 million, according to 2001 census, high level sources said.The government is likely to announce opening of multi-brand retail to foreign investors after the state Assembly election results, in a move to revive confidence of global investors in the country.
Programmes to impart sexuality education to young people are more cost-effective when integrated and mandatory, according to the findings of a United Nations study released today at a symposium in New York. The cost per learner in well established programmes ranged from $6.90 in Nigeria to $32.80 in the Netherlands, while smaller pilot programmes in Kenya and Indonesia indicated significantly higher costs, according to the result of a six-country study released by the UN Education, Scientific and Cultural Organization (UNESCO) at the meeting of the Inter-Agency Task Team (IATT) on Education of the Joint UN Programme on HIV/AIDS (UNAIDS).
The Government has restructured the Technology Upgradation Fund Scheme (TUFS) – the flagship scheme of Ministry of Textiles for upgradation of technology in the textile and jute sectors. Ministry of Textiles has issued the Government Resolution on Restructured Technology Upgradation Fund Scheme for the period 28.04.2011 to 31.03.2012 (both the days inclusive) with an overall subsidy cap of Rs.1972 crore during the period. The Government Resolution lays down the financial and operational parameters and implementation mechanism for the Restructured TUFS.
Income Tax Department has released ITR 1 Sahaj and ITR 2 Income Tax Return Preparation Utility as applicable for Assessment Year (A.Y.) 2011-12 or Financial Year (2010-11) which can be used to file Income Tax Return Online. Filing of Income Tax returns is a legal obligation of every Individual/HUF whose total income for the previous year has exceeded the maximum amount that is not chargeable for income tax under the provisions of the I.T Act, 1961. Income Tax Department has introduced a convenient way to file these returns online using the Internet.
Under the new scheme Form 16/16A shall not be issued manually. A deductor shall download Form No. 16/16 A from the online system. The generation of firm 16/16A shall be based on the Form 26Q submitted by the Deductor. The tax credit shall be directly linked to the submission of TDS Returns. Every 16 /16A Form shall also have a unique Number and that number shall be used by the assessees for filling their returns.
