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Budget 2010-11 FM pushes for affordable homes; full tax rebate to builders
Considered to be price sensitive and cautious purchasers, Indians in tier-2 and tier-3 cities are nevertheless paying between Rs 5 and Rs 20 to send virtual kisses and hugs over their mobile phones, claims Singapore-based applications developer mig33. mig-33, which offers a social entertainment platform for mobile phones, claims to have registered 100 per cent growth in India last year and most of this growth came from tier-2 and tier-3 cities of the country.
Zeroing on the criminal conspiracy relating to 2G scam among corporates, CBI is preparing a list of all ineligible telecom companies which had got the licences in 2008. Besides, CBI is conducting a “microscopic examination” of a deal between Tata Group’s real estate and infrastructure development arm Tata Realty and Infrastructure and Unitech whereby the latter had received a loan, which the agency claims, have been diverted, official sources said.
UK-based HSBC on Wednesday said regulatory sanctions being faced by the bank in the US is “embarrassing” and would have a bearing on its image. “Not positive… it’s disappointing,” HSBC Holding Plc Group Chairman Douglas J Flint told reporters when asked whether findings of the US regulator on foreclosures would have impact on its image.
Cases of Merger and Amalgamation of Government Companies – The Minister of State for Corporate Affairs, Mr. R.P.N. Singh has stated that cases of Government Companies involving mergers and amalgamations presently under consideration of the Government are:- 1. M.P. State Industrial Development Ltd. and its Creditors.
The CCEA has approved the operating and extending Indian Development and Economic Assistance (IDEA) Scheme during the period 2010-11 to 2014-15 for both African and non-African countries. Under the IDEA scheme, Government supported Export and Import Bank of India (Exim Bank) Lines of Credit (LoCs) are made available to developing countries for support of developmental and other projects as recommended by Ministry of External Affairs (MEA).
India in future is going to be a younger India with nearly 70 percent of India being of working age in 2025. Its demographic dividend of a relatively young population as compared to developed nations is an opportunity in the offing. The budget has addressed the higher education and skill development needs by a substantial higher allocation of funds, though no direct tax benefit has been given.
While the Finance Minister has said that his priorities were directed towards making taxes moderate, payment simple and collection of taxes easy for the tax collectors, the changes proposed result in higher indirect tax collection by over Rs. 11000 cores. He admits that there has been a healthy growth in indirect taxes in 2010-11 and as such peak tax rates have not been tinkered with.
FII’s can invest directly in Mutual funds – This gains importance as MF industry has been battling volatility and cash crunch. The disinvestment target of Rs.40,000 cr is as expected. The previous highest disinvestment done by the govt was Rs.23,550 cr in 2008-09. Doesn’t surprise me much because given the response Coal India Limited (CIL) got last year, the companies that are lined up this year are IOC, MMTC and Rashtriya ISPAT ltd might also get positive response from the market. But FM has assured that the 51% govt holding in all the PSUs would stay. Sudden and full disinvestment would only result in.
Sixty-three people, including promoters and chief executive officers of 10 telecom firms have come under its scanner in the 2G spectrum case, the CBI on Friday told the Supreme Court which expressed satisfaction over the ongoing probe.
