NATIONAL Maruti hikes car prices, GM, Hyundai may follow suit Shortly after the presentation of Union Budget for 2004-05, India's biggest carmaker Maruti Udyog Ltd (MUL) today (July 8, 2004) announced an across-the-board price hike marginally by 0.38 per cent and Indian arms of General Motors and Hyundai hinted at following suit.
Where the Rupee comes from, where the Rupee goes? Reflecting the pressures of debt, Government will spend the largest share of 23 paise from every Rupee earned in 2004-05 for paying interest on its borrowings.
Market plunges by 112 points in roller-coaster ride Reacting to Budget proposals, the market went roller coaster and ultimately ended with a sharp fall of 112 points on fairly heavy sell-off by retailers and operators, disappointed over introduction of turnover tax and a hike in excise duty on steel.
Highlights of Union Budget 2004-05 Finance Minister P Chidambaram presented his dream Budget in the Lok Sabha today (July 8, 2004). Chidambaram opened his Budget speech by citing the National Common Minimum Programme (NCMP) as the guiding light and said that the NCMP spells out clear economic objectives.
No change in view on interest rates: RBI Dy Governor Amidst indication of a hardening of interest rates, the Reserve Bank of India (RBI) deputy governor Dr Rakesh Mohan today (July 8,2004) said that there was no change in its view on interest rates.
"There is no change in RBI's (Reserve Bank of India) view on interest rates. There is no change from what we had mentioned in our annual policy statement," Dr Mohan told reporters in Chennai.
FM announces a bonanza for farm sector in the Budget Giving the long overdue pride of place to agriculture, Finance Minister P Chidambaram today (July 8,2004) announced a bonanza for the farm sector in the Union Budget for 2004-05 that included cheaper credit, enhanced farm and cattle insurance and tax concessions for allied activities like horticulture and dairying.
FM sets up Investment Commission to attract investors In an effort to provide attractive environment for investors in the country, Finance Minister P Chidambaram today (July 8,2004) proposed to establish an Investment Commission.
FM sets up Investment Commission to attract investors
New Delhi: In an effort to provide attractive environment for investors in the country, Finance Minister P Chidambaram today (July 8,2004) proposed to establish an Investment Commission.
Govt hikes duty on refined palm oils to 75 per cent Accepting the recommendation of the tariff commission, Government today (Jul 8, 2004) hiked customs duty on refined palm oils by five per cent to 75 per cent to make oilseeds cultivation and domestic refining of crude oils economically more viable.
Buoyed by the Budget, Sensex crosses 5000 mark Buoyed by Budgetary proposals to raise Foreign Direct Investment ceiling in telecom, insurance and civil aviation sectors, the Bombay Stock Exchange sensitive index crossed the 5000 point mark at noon today (Jul 8, 2004), a level last seen on June 9.
INTERNATIONAL Enron's Kenneth Lay led into court in handcuffs Former chairman and chief executive officer of Enron, Kenneth Lay, today (July 8, 2004) surrendered to the FBI in Houston and was immediately taken, with his hands cuffed behind his back, to court to face criminal charges stemming from the 2001 collapse of the energy company he founded.
