Telecom Disputes Settlement and Appellate Tribunal has clubbed the two cases filed by Bharat Sanchar Nigam Limited challenging Telecom Regulatory Authority of India's decision to reduce the levy collected from private operators.
State-run BSNL on Saturday approached telecom tribunal TDSAT against sector regulator TRAI's decision to cut a levy paid by private operators to the public sector company for its rural operations.
Telecom tariffs set to fall significantly across the board as sector regulator Telecom Regulatory Authority of India announced on Wednesday a cut of more than 37 per cent in the levy paid by private players to BSNL.
Rating agency Moody's has described Budget 2007-08 as "largely unremarkable", as it disappointed businesses and the market's hope for meaningful economic reforms.
The last European summit, in June, was supposed to have decided that the European Stability Mechanism would use its euro 500 billion to help directly recapitalise banks in distress, once a euro-zone banking supervisor authority was established.
The banking industry could witness another round of prime lending rate hikes beginning next week, a top Indian Banks' Association official said on Wednesday.
Sectors throw up a wishlist for the Finance Minister.
Trai's decision to reduce the rates of ADC after due consultation would pave the path for lower telecom tariffs, sustained growth, while reduction in rate of ADC on international calls would reduce arbitrage.
He, however, said that India and Pakistan are proceeding with the composite dialogue process, which has led to reduction of tensions and resulted in several Confidence Building Measures.
In their respective memorandums, the Federation of Indian Chambers of Commerce and the Confederation of Indian Industry asked for re-introduction of investment allowance, restoring the depreciation rate to 25 per cent and an increase in plan public expenditures, primarily in infrastructure, which would boost private investments.
After dilly-dallying for months, Pakistan on Tuesday agreed to allow an Indian commission to visit the country in connection with 26/11 Mumbai terror attack case probe there, setting a positive backdrop for the prime ministerial meeting in Mohali on Wednesday.
If investment continues to be buoyant and efficiency improves, the problems of overheating may turn out to be less real and more imaginary, the mid-year review of the Indian economy said on Tuesday.
The finance minister (FM) in his speech confirmed growth forecasts in the Economic Survey that the economy is likely to grow at 8.6 per cent during the current fiscal.
Global growth may be rebounding, but labour markets are not, or only very weakly and unevenly.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
The worst of recession could coincide with the run-up to the elections.
The Reserve Bank of India today kept key policy rates unchanged, but put the onus of further reduction in interest rates on banks. However, most lenders indicated that any such decision will be linked to a fall in the cost of funds.
'Dr Manmohan Singh and Wen Jiabao can use their great personal rapport to enhance relations between India and China.'
The government is expected to announce the second stimulus package in the next three days.
The fragmentation of politics and the pressures of coalition management have contributed to a near-secular rise in budgetary social expenditures and spending on subsidies since 1991, leaving little fiscal space for government-led capital investment.
Vodafone, the mobile phone giant headed by NRI chief executive Arun Sarin, on Tuesday announced annual losses of 14.85 billion pounds and said it planned to cut 400 jobs at its headquarters in Newbury in the UK.
FIIs pump in Rs 2,075 crore in past three trading sessions.
Global rating agency Standard & Poor's on Wednesday upgraded India's outlook to positive from stable and affirmed the sovereign 'BB+/B' ratings to the country due to improvement in government finances.
Bharat Sanchar Nigam Limited is likely to register a lower profit of upto Rs 8,000 crore (Rs 80 billion) in 2005-06 compared to over Rs 10,000 crore (Rs 100 billion) in the previous year.
State-owned Bharat Sanchar Nigam has challenged a massive reduction in fee paid to it by private operators, saying its rural operations would be severely hit as a result.\n\n
but it had a mixed view on the new tax proposals burdening the capital market.
Telecom regulator TRAI on Thursday announced a substantial cut in levy accrued to state-owned BSNL at Rs 3,200 crore (Rs 32 billion) from over Rs 5,000 crore (Rs 50 billion) and shifted to revenue share regime from per call basis.
The wars of the future will be fought over water and if they occur on large scale, will be far more devastating than any we have seen yet.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
The prime minister's August 15 address was undoubtedly inspirational and outlined important economic and social objectives, such as making India a global hub for manufacturing, ensuring bank accounts for all poor families, major thrusts in sanitation and cleanliness, and a radical restructuring of the Planning Commission.
This was decided at a four-hour meeting of the Central Board of Trustees of EPF chaired by Labour Minister K Chandrashekhar Rao.
The EPF board will meet on Wednesday to take a firm view on the interest rate for its 4 crore (40 million) subscribers during 2005-06, even as trade unions are demanding Prime Minister's intervention to retain 9.5 per cent.
India has expressed disappointment over the first draft text for the forthcoming World Trade Organisation Ministerial Conference in Hong Kong
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