Further telecom tariff reduction is on the anvil as department of telecom is in the process of issuing direction to the Telecom Regulatory Authority of India to come out with the revenue-share based access deficit charge.
Amid expectations that Thursday levy cut would greatly facilitate reduction in STD, ISD rates
Reserve Bank's recent policy stance has earned for it praise as well as brickbats.
While the bigger burden of increase in revenue collection would fall upon the indirect taxes, on the direct taxes there could be rationalization & simplification.
More than 850 million hungry people around the globe can enjoy a better life if the world sets aside less than three per cent of what it spends on the purchase of arms every year, for the development of agriculture.Pointing out the stark realities of the wasteful spending, United Nations Food and Agriculture Organisation director general Jacques Diouf on Tuesday appealed to world leaders for US$ 30 billion a year to re-launch agriculture and avert future threats.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
Having made two major overseas acquisitions, Tatas owned Videsh Sanchar Nigam Ltd is looking for further acquisitions to add to its services and customers base.
There are also concerns on the central government finances for the current fiscal, he said, adding, performance during the first half on the fiscal front poses some risks in both receipts as well as expenditure estimates.
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
"The outlook for exports in 2008-09 may not be as bright as in the past few years with lower projections in world GDP and world imports and exchange rate developments," according to the pre-Budget Economic Survey tabled in Parliament.
A parliamentary committee has pulled up the finance ministry for not adhering to Fiscal Responsibility and Budget Management Act in cutting revenue deficit by 0.5 per cent of GDP for 2005-06 saying there should not be deviations every now and then.
In the near term, two key factors are the outcome of the monsoon season in respect to cropping yields; and the correction in the crude oil price.
Amid a row between China and the US-based search engine Google, Premier Wen Jiabao has said his country is looking forward to the strategic dialogue with Washington in May to resolve trade and currency disputes
Petroleum Minister Murli Deora has announced that the cabinet will soon take a decision on fuel price hike.
Factoring in the government's push to improve its finances and higher growth, Standard & Poor's today revised the outlook on India's sovereign credit rating to stable from negative. At the same time, it warned that high inflation could spoil the party. The agency affirmed the 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India.
The International Monetary Fund has asked India to speed up reforms, including removal of trade barriers, liberalisation of FDI regime and easing of labour laws, to attain over 6-6.5 per cent GDP growth.
In less than two months of the new levy regime that resulted in financial loss of about Rs 1,700 crore (Rs 17 billion) per annum to the two PSUs -- BSNL and MTNL, the TRAI on Thursday came out with another consultation paper to review the existing re
'This year was a very difficult time for me, or for any finance minister.'
At the end of the talks with Salman Bashir, Pakistani Foreign Secretary in New Delhi on Thursday, Nirupama Rao, the Indian counterpart, projected the initiative taken by India in proposing the meeting between the two countries as a prelude to a wider dialogue at different levels on various contentious issues -- though not necessarily in the form of a reversion to the composite dialogue process to which Pakistan continues to be attached.
Without a market that is positively impressed with the finance minister's Budget, the government will face major problems in offloading its shares in PSUs and bring down its deficit.
A study conducted by the CII and the Institute of Rural Management on the Jyotigram Yojana, the state government's rural electrification scheme which promises 24-hour, 3-phase electricity to villages, says there is an increase in the level of average employment and reduction in migration from rural areas by 33 per cent.
The Telecom Regulatory Authority of India has sought a reduction in both international and domestic leased line circuit prices in the country, which is market-driven and in line with the supply and demand situation.
The Centre will take a hit of Rs 26,000 crore (Rs 260 billion) in 2005-06 by implementing the twelfth finance commission's proposal of a higher share of central taxes, grant and debt relief to states.
Initiating a fresh round of price war, Bharti, offering telecom services under the AirTel brand, on Thursday reduced long distance mobile tariffs by upto Rs 1.75 per minute for ISD and 35 paise for STD calls.
One needs to wait for Budget 2010 to see how the best brains in the country are planning to face the immense economic and budgetary issues facing them.
The government may take the first step towards fiscal consolidation in Budget 2010-11 by partially rolling back tax cuts given to the industry last year. The service tax rate may be restored to 12 per cent, while excise duty could be increased marginally.
Attacking the industrialised countries for agricultural protectionism, which was hurting the economies of poor nations, the World Bank has stressed that global trade liberalisation was critical for reducing poverty in developing countries.
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