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Reversal in Policy Rates After Three Years will Help in Investment Revival and Contribute to the Strengthening of Business Sentiments in India :FM
- May 6, 2012
- By India Current Affairs
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The Union Finance Minister Shri Pranab Mukherjee said that the monetary authority in India has on 17th April 2012 reversed the policy rates for the first time, after a gap of nearly three years. He said that he hopes this will help in investment revival and contribute to strengthening of business sentiments. On the fiscal front, the Finance Minister said [...]

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Fall in Gas Production in KG-D6
- May 4, 2012
- By India Current Affairs
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The Minister of State for Petroleum and Natural Gas Shri R.P.N. Singh informed the Rajya Sabha in a written reply today that Directorate General of Hydrocarbons (DGH) under this Ministry has reported that the average natural gas production from D1, D3 and MA fields of the block KG-DWN-98/3 operated by the consortium of Reliance Industries Limited (RIL) and Niko Resources Limited [...]

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32.39% Growth in Marine Product Exports in Terms of US Dollar
- May 4, 2012
- By India Current Affairs
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In the year 2010-11, export of marine products registered a growth of 18.34% in quantity, 26.90% in the rupee value and 32.39% in terms of US$, as compared to previous year (MPEDA Annual Report : 2010-11). The data on fish production given below shows a rising trend in seafood production: (Production in ‘tonnes) Year 2008-09 2009-10 2010-11 Production 7816090 [...]

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Indian Companies Import Foreign Technology to Improve their Products
- May 4, 2012
- By India Current Affairs
- Economy /Business
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Presently Indian companies are allowed to import technologies and use brand names of foreign companies as per mutual agreement between the two companies. Import of technologies and using brand names of foreign companies help the Indian companies to improve the quality of their products and also consumer gets variety of choices, better quality and hygienic products. Food Safety and Standard [...]

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Lakshmi Mittal retains top spot in UK rich list
- April 30, 2012
- By India Current Affairs
- Economy /Business
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Indian steel tycoon Lakshmi Mittal and his family retained their top spot as Britain’s richest for the seventh year in succession while the combined worth of the country’s 1000 wealthiest individuals defied double-dip recession to reach record levels during the last year. Mittal, 61, and his family’s worth came down by 4,814 million pounds, but they were still the richest [...]

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India: High-Tech Loans To The Rescue Of Rural Women – Surekha Kadapa-Bose
- April 29, 2012
- By India Current Affairs
- Economy /Business
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Last September, Priya Singh, a civil servant with the Indian Revenue Service, was chatting with her Singapore-based friend on the social networking site, Facebook. With Singh’s upcoming birthday, the conversation invariably turned to how she was planning to celebrate. Singh was looking to do something different that year and so her friend told her about Milaap, an online platform that [...]

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Consumer electronics & durables to reach Rs 52K crore by 2015
- April 29, 2012
- By India Current Affairs
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Growing at a compounded annual growth rate (CAGR) of about 15 per cent, the consumer electronics and durables sector in India is likely to reach Rs 52,000 crore by 2015, apex industry body ASSOCHAM . The consumer electronics and durables industry is currently poised at about Rs 34,000 crore according to a study titled ‘Emerging trends in Consumer Electronics and [...]

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Akshaya Tritiya fails to notch footfalls – S. SANDEEP KUMAR
- April 25, 2012
- By India Current Affairs
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This Akshaya Tritiya, while the meteoric rise in the prices of the yellow metal had cast its impact on sales, the delay in passing on the interest rate cut by a few banks appears to have forced prospective automobile buyers to postpone buying. Generally people consider buying gold, automobile and other commodities on the day considering it auspicious. Cashing in [...]

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Most corporates want RBI to slash repo rate, CRR to spur growth
- April 16, 2012
- By India Current Affairs
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With industrial production growing at much lower rate than expected, an overwhelming majority of corporates say the Reserve Bank of India (RBI) should cut repo rate by 100 basis points to reduce the cost of borrowings and spur fresh investments, according to a just-concluded survey by industry chamber ASSOCHAM. The repo rate (the rate at which banks borrow money from [...]

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Measures for Checking Out-Flow of Black Money
- April 13, 2012
- By India Current Affairs
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The Income Tax Department takes several punitive and deterrent steps to unearth unaccounted money and curb tax evasion. These include scrutiny of tax returns; surveys, search and seizure actions; imposition of penalty and launching of prosecution in appropriate cases. Information technology is used in a systematic way for collection and collation of information to take anti-evasion action against tax evaders. The [...]

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New Base Rate System
- April 13, 2012
- By India Current Affairs
- Economy /Business
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The Reserve Bank of India (RBI) has issued guidelines on Base Rate system replacing the Bench Prime Lending Rate system (BPLR) with effect from July 1, 2010. In terms of these guidelines, banks determine their actual lending rate on loans and advances with reference to the Base Rate. All categories of loans are priced only with reference to the Base [...]

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Size of the Indian Economy
- April 13, 2012
- By India Current Affairs
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The share of different countries in world GDP based on purchasing power parity (PPP) in 2010 is as under: Country Advanced Economies United States of America United Kingdom Germany Japan India Share 52.1% 19.5% 2.9% 4.0% 5.8% 5.5% Source: World Economic Outlook, database IMF. As per news release dated 26th December, 2011 of Centre for Economics and Business Research [...]

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US threat to stop outsourcing from India
- April 13, 2012
- By India Current Affairs
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According to NASSCOM ( National Association of Software and Service Companies), India’s IT industry is concerned about US threats to stop outsourcing. Shri Sachin Pilot, Minister of State for Communications & Information Technology informed the Rajya Sabha yesterday that the following issues have adversely impacted outsourcing from India: (i) Steep Hike in Visa fees under (Public Law) PL 111-230( August 2010) ; (ii) Extension of applicability of PL 111-230 under the James Zadroga Act (Dec. [...]

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Interlinking of Rivers
- April 8, 2012
- By India Current Affairs
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The Supreme Court in its order dated 27.2.2012 has directed the Union of India and particularly Ministry of Water Resources to forthwith constitute a committee to be called ‘ Special Committee for Inter-linking of Rivers’. The Supreme Court in the order mentioned that “time is a very material factor in the effective execution of the Interlinking of Rivers project. As [...]

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Marine Exports
- April 8, 2012
- By India Current Affairs
- Economy /Business
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The Marine Products Export Development Authority (MPEDA) under the Ministry is responsible for the export promotion of marine products from India. . The details of export of marine products between April, 2011 and January 2012 and the details of foreign exchange earned from the exports are as follows : (Q: Quantity in Tons, V: Value in Rs. Crore, $: USD Million) [...]

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Motor Vehicle Tax in India
- April 8, 2012
- By India Current Affairs
- Economy /Business
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Motor Vehicle Tax (MVT) is being levied in all States and Union Territories (UT) except in the UT of Lakshadweep. There are different bases for computation and different rates, leading to differing incidence of taxes for different categories of vehicles in different States/UTs. Existing tax structures show wide variations among States/UTs due to: a) different classification principles for taxation of [...]

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Ponnaiyar-Palar Link
- April 8, 2012
- By India Current Affairs
- Economy /Business
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National Water Development Agency (NWDA) has prepared the Pre feasibility report (PFR) of the Ponnaiyar-Palar link and sent the same to the Govt. of Tamil Nadu. Ponnaiyar (Krishnagiri)-Palar Intra State link envisages transfer of 99 cubic Mm of water, annually available at Krishnagiri dam as flood flow to the Kalar, a tributary of Palar river in the adjacent basin through [...]

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The Demand of Coal is Estimated 650 Million Tonnes in XII plan
- April 5, 2012
- By India Current Affairs
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The requirement of coal for power utilities for XII Plan period has been estimated on the basis of the demand of power forecast by the 17th Electric Power Survey (EPS) Report of Central Electricity Authority (CEA). The report predicts likely power demand of 1392 Billion Units in 2016-17. If coal based thermal power plants continue to meet 70% of the [...]

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Over 82% of women wrestle with household budget (Budget makes the aam aadmi to pay more: savings hit hardest)
- April 2, 2012
- By India Current Affairs
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About 82% of women find finances getting tighter to manage the household budget due to hike in the prices of big-ticket appliances such as washing machines, dishwashers, refrigerator and air-conditioners from April, reveals the ASSOCHAM survey. In the last six years, the salary of common man has gone up by 30% but on the other side the spending has increased [...]

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Design Clinics Scheme for Design Expertise To MSMEs Of Manufacturing Sector
- March 29, 2012
- By India Current Affairs
- Economy /Business
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The total scheme budget is Rs.73.58 crore, out of which Rs.49.08 crore will be the Government assistance and the balance amount will be contributed by the beneficiaryMSMEs. About 200 clusters will be covered under the scheme. To bring the MSME sector and design expertise into a common platform. To provide expert advice and solutions to design problems, resulting in continuous improvement and value [...]

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