NATIONAL Govt sees Rs 1,060 bn from Service Tax by FY09 Finance Ministry today (May 13, 2005) set an ambitious target of increasing Service Tax collection to Rs 1,060 billion in four years and ultimately move towards a single Goods & Services Tax.
Sensex reacts moderately downwards by 5.28 pts In lacklustre activity, the Sensex today (May 13, 2005) reacted moderately downwards by 5.28 points to close at 6451.54 on the Bombay Stock Exchange (BSE), on stray profit booking by operators on the back of renewed selling by Foreign Institutional Investors (FIIs).
Packeteer plans to scale up its operations in India US networking firm Packeteer today (May 13, 2005) said that it plans to scale up its operations in India, including having 5 per cent of its global headcount in India and more regional and national systems integrators as partners.
Govt introduces two major banking legislations In a major financial sector reform, Government today (May 13, 2005) introduced in the Lok Sabha two major banking legislations, including one to lift 10 per cent cap on voting rights to foreign banks acquiring equity in Indian banks.
No immediate petroleum price hike: Aiyar Union Minister for Petroleum and Natural Gas Mani Shankar Aiyar today (May 13, 2005) ruled out immediate hike in prices of petroleum products and said that a decision on this would be taken after consultation with all parties within the ruling UPA (United Progressive Alliance) and the Left.
Inflation falls marginally to 5.67 pc after 4 weeks After rising for four consecutive weeks, inflation fell marginally by 0.24 per cent to 5.67 per cent in the week ended April 30 mainly due to cheaper food and some of the manufactured products like edible oils.
BSE: Sensex opens weak, falls further by 20 points The Sensex today (May 13, 2005) opened weak and declined further by 19.38 points at the opening session on the Bombay Stock Exchange (BSE) due to heavy selling.
