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The government has collected over Rs 300 crore in penalties from new telecom service providers that failed to roll-out their networks within the stipulated timeframe after getting licences and spectrum.”As of last Friday, we have received Rs 300.04 crore penalties, as against total claim of Rs 370.55 crore,” Department of Telecom Secretary R Chandrasekhar told PTI.
Leading drug makers today said that higher excise duty proposed in the Budget 2011-12 would make medicines costlier and hurt the common man. Further, pharmaceutical industry players also feared that imposition of Minimum Alternate Tax (MAT) on Special Economic Zones would adversely impact their profits, since most export units of drug firms are located in various SEZs.
Former Telecom Regulatory Authority of India (TRAI) chairman Nripendra Misra was today questioned by the CBI in connection with the 2G spectrum allocation scam. Misra, who was also the Secretary in the Telecom Ministry, had taken over the chairmanship of TRAI from Pradip Baijal in 2006.
Telecom Minister Kapil Sibal] said on Tuesday he is in favour of the Comptroller and Auditor General’s proposal to conduct an audit of the total available spectrum in the country with a focus on how much was allocated to private operators from 2000 onward and at what cost.
In a nationwide crackdown on bogus ration card holders, over 2.8 crore ineligible ration cards have been deleted from July 2006 till now in different parts of the country, Parliament was informed today. Maximum 59.67 lakh bogus ration cards were deleted in West Bengal during the period, Food and Public Distribution minister K V Thomas said in a written reply to Lok Sabha.
The Ministry of Corporate Affair (MCA) has notified 35 Indian IFRS standards (known as “Ind-AS’), without announcing the applicability date. In its press release, the MCA has stated that Ind-AS will be applied in a phased manner, to ensure smooth transition for all stakeholders. The notification of Ind-AS is a significant step toward the implementation of converged standards in India. Companies may particularly note that the MCA will intimate the implementation date later; however, it does not state if the implementation is deferred. Also, the question regarding whether a company can apply Ind-AS early, if it desires to do so, and the manner of quarterly reporting still remains open.
The Delhi Police, in compliance of the directions of Hon’ble Delhi High Court in Writ Petition (Crl.) No. 468/2010 “Court on Its Own Motion Versus State” dated 06.12.2010, has implemented the system of uploading and viewing the FIRs registered in Delhi on its website www.delhipolice.nic.in in within 24 hours of registration except the FIRs declared sensitive by the Addl. CP/DCP of the district concerned.
The Government has decided to get a fresh study conducted on unaccounted income/ wealth both inside and outside the country brining out the nature of activities engendering money laundering and its ramifications on national security. The proposal was approved by the Government in January, 2011. The study will be conducted by three national institutes with inputs from various ministries/ departments. The institutes have been finalized and the study will be assigned to them after making necessary provisions. The institutes will be given a time frame of eighteen months to complete the study.
Indian Economy on Higher Growth Path; Resilient to Both External and Domestic Shocks:FM. Increase in International Crude Oil and Other Commodity Prices is a Matter of Concern. Emphasizes Need to Step up Investment in Agriculture Sector Both by Private and Public Sector to Achieve 4% Growth. Calls for Increase in Private Sector Savings . Infrastructure Financing a Big Challenge and Requires Innovative ideas and New Models . Manufacturing Sector Productivity Needs to be Increased . Finance Minister addresses 83rd AGM of FICCI
The WPI inflation in mineral oils increased to 16.7 per cent in January 2011 from 7.9 per cent in the corresponding period last year. This is mainly because of the rise in crude oil prices (Brent) in international market, which rose to US $96 per barrel in January 2011 from US $77 per barrel in January 2010 and US $45 per barrel in January 2009. The weighted contribution to overall inflation of mineral oils (weight 9.36%) was 19.7 per cent in January 2011 compared to 9 per cent in January last year.
