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Finance Minister Shri Mukherjee said that he met Vietnamese Prime Minister yesterday and requested him to resolve all the pending issues including setting up of a steel project in Vietnam by Tata Group of Industries. The General Secretary of Communist part of Vietnam, Mr. Trong said that he will discuss all the pending issues with the Prime Minister of Vietnam in order to get them resolved. Finance Minister Shri Mukherjee invited Mr. Trong to visit India in near future which will help in further boosting the relationships between the two countries.
The United States may experience reverse brain drain as thousands of Indian IT professionals contemplate returning to India, according to a survey conducted by Corp-Corp.com , a US-based technology job portal.
The immediate recognition of exchange differences in P&L is technically superior accounting. If a company does not defer exchange differences for amortization to later periods, the investor community will have greater confidence in the company, resulting in better valuations and lower cost of fund raising for the company. Hence, we believe that there should be no option to defer and amortize exchange differences under both the Ind-AS and Indian GAAP.
THE TARGET -The target is to double the country’s merchandise exports in dollar terms over the next three years (2011-12 to 2013-14) from US $ 246 billion in 2010-11 to US$ 500 billion in 2013-14. To realize this, exports have to grow at a compound average growth of 26.7 % per annum.
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on April 20, 2011, Government has approved 21 Proposals of Foreign Direct Investment amounting to Rs. 1027.20 crore approximately. Following 21 (Twenty one) proposals have been approved.
The country’s exports went up by 37.55 per cent to USD 245.86 billion during FY2010-11, demonstrating robust demand for Indian merchandise not just in Western economies, but in new markets like Latin America and Africa as well.
Civil aviation regulator DGCA today asked private airlines not to charge exorbitant spot ticket prices and ensure that these were not more than the maximum fares published on their website. The directive came at a meeting DGCA chief E K Bharat Bhushan held with senior officials of private airlines, following complaints that exorbitant spot-fares being charged by the carriers in the wake of cancellation of Air India flights due to the ongoing pilots’ strike.
Union Finance Minister Shri Pranab Mukherjee will call on Vietnamese Prime Minister during his two days visit to Hanoi, Vietnam beginning tomorrow i.e. 3rd May, 2011. Finance Minister Shri Mukherjee is visiting Hanoi in order to attend 44th Board of Governors’ Annual Meet of Asian Development Bank (ADB). Shri Mukherjee will leave tomorrow afternoon and will return on the night of 5th May, 2011. During his bilateral meeting with Vietnamese Prime Minister , both the leaders are likely to discuss matters of mutual interest .India has granted Market Economy.
No.F.10/9/2008-IR Dated April 26, 2011 Right to Information (Regulation of Fee and Cost) Rules, 2005 provide that a person seeking information under the RTI Act. 2005 can make payment of fee for obtaining information by cash or demand draft or banker’s cheque or Indian Postal Order. It has been brought to the notice of this Deportment that some pubic authorities do not accept fee through the Indian Postal Orders.
Inflation is expected come down to 7.78 per cent this month on the back of a good monsoon and an increase in the area under rabi crops, the Institute of Economic Growth said in a report. In June, inflation is likely to further come down to 7.38 per cent, it said. Headline inflation for March stood at 8.98 per cent. Inflation in the country has been above 8 per cent since February, 2010.
