NATIONAL Stock prices continue falling, Sensex 75 pts down Stocks continued their downward drift for the fourth session in a row pushing Sensex lower by another 75 points at close in irregular movements on the Bombay Stock Exchange (BSE) today (Feb 3, 2004) on fresh sell-off by retail investors.
Industry welcomes Budget, calls it business friendly Industry today (Feb 3, 2004) welcomed the Interim Budget, saying it was consistent with the Government's policy of achieving eight per cent growth target and creating a business-friendly environment in the country.
Govt aims to mobilise Rs 16,000 cr via divestment Buoyed by the proposed public offerings in six companies, including Oil and Natural Gas Corporation (ONGC) and Gas Authority of India (GAIL), Government today (Feb 3, 2004) set an ambitious target of mobilising Rs 16,000 crore through disinvestment of public sector undertakings (PSUs) during 2004-05 as against the expected proceeds of Rs 14,500 crore in the current fiscal.
Tax exemption to Foreign Cos in BPO segment Government today (Feb 3, 2004) exempted foreign companies from imposition of tax in case the outsourced services were ancillary and auxiliary in nature and adequate remuneration was paid to the Indian call centre.
Govt lauds IT sector; plan outlay up at Rs 889.27 cr Lauding the performance of Indian software and services industry as one of the fastest growing sectors of the economy in the last five years, Government today (Feb 3, 2004) pegged the total plan outlay for Department of IT at Rs 889.27 crore for 2004-05 compared to Rs 593.58 crore in 2003-04.
INTERNATIONAL US Budget gives $ 300 mn to Pak, $ 15 mn to India The US Budget proposals unveiled by President Bush includes $ 564 million in aid for South Asia, the bulk of it for Pakistan and Afghanistan and a comparatively miniscule amount for India.
Bush presents 2.4 trillion Budget; $ 521 bn deficit US President George Bush today (Feb 3, 2004) sent to the Congress a $ 2.4 trillion Budget which featured massive increases on military spending and a record $ 521 billion deficit which he blamed on recession in 2001 and the ongoing war on terrorism.
