India News

India Inc’s highest profit-making company, ONGC, may be in for a tax shock. Tax officials in the finance ministry have raised questions over the PSU’s lower earnings on account of a high subsidy burden, and have demanded an additional tax payout of almost Rs 1,000 crore for 2003-04.

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A consortium of overseas Indians SemIndia plans to invest $3 billion in a semiconductor chip-making factory in India, with technology from Advanced Micro Devices Inc.

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Wipro Ltd, India's third-largest software exporter, on Thursday opened a global network command centre in Bangalore, eyeing a fast-growing export market worth up to $66 billion in remote computer management.

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Ganguly, axed as captain and dropped from the one-day side after a row with coach Greg Chappell, rejoined the squad as an all-rounder. One of in-form youngsters Yuvraj Singh and Mohammad Kaif would have to make way if he returns in Chennai (Madras).

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After getting in and out of the ring in listless movements till around early afternoon, the bulls turned active once again and mirroring the upbeat mood that prevailed till the end of the session, the benchmark BSE .

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The government today ruled out immediate reduction in prices of petrol and diesel even as the rates of crude in the international market have been softening since September.

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State-owned Oil and Natural Gas Corp, India's highest profit earner, has been asked by the government to pay interim dividend for the 2005-06 fiscal, a request its board may consider next week.

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The Union Government is coming up with a legislation to regulate private television channels from telecasting objectionable programmes. The Centre in an affidavit informed the court that the Union Cabinet had recently set policy guidelines for regulating the telecast of programmes on private channels.

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The Bharatiya Janata Party on Thursday staged a walk out in the Lok Sabha expressing dissatisfaction over the Centre's response to the killing of BJP legislator Krishananand Rai in Ghazipur in Uttar Pradesh.

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Work on repairing the damaged portion of the new bridge across the Amaravathy river here has come to a grinding halt, following the Chief Minister, Jayalalithaa, ordering a probe into the issue.

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Reiterating the State Government's commitment to investing substantially in infrastructure projects, Minister for Industries and Finance P.G.R. Sindhia on Wednesday said over Rs. 20,000 crores will be invested across the State in various sectors such as roads, airports and power.

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The US Congress will pass the Indo-US nuclear deal after it gets concrete evidence of a marked delineation of India’s civil and military nuclear facilities, Mr Dan Burton, leader of a visiting seven-member congressional delegation, said today.

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With the mass attraction and mega entertainment of the one day internationals out of the way, India have less than three days to train eyes on the forthcoming three match Test series against Sri Lanka.

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The Madras High Court on Wednesday concluded the sale of the 57.94-acre land belonging to the under-liquidation Standard Motor Products of India Limited, and directed the Registration Department to register it in favour of Sriram Properties Limited.

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 ICICI Bank Ltd., India's second- largest lender, started selling 70 billion rupees ($1.5 billion) of shares to meet credit demand expanding at its fastest pace in three decades. The bank plans to raise 50 billion rupees in India and 20 billion rupees overseas.

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JCB India, a leader in the construction equipment sector, on Wednesday said it would be putting up its third plant in Pune, exclusively to produce excavators. The plant coming up with an investment of Rs. 225 crore would begin production by the middle of next year.

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Private higher and technical education institutions can be offered Special Economic Zone (SEZ) status to produce quality students for the emerging opportunities in Information Technology (IT),’’ opined Kiran Karnik, president of Nasscom (National Association of Software and Service Companies) on Wednesday.

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With the government's decision to raise the FDI cap to 49 per cent, the global insurance major Allianz is likely to hike its stake to 49 per cent from the present 26 per cent in the Indian venture, Bajaj Allianz Life Insurance.

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There is rarely ever anything like having a cup of tea with the President of your own country. Surely nothing like having tea with President APJ Abdul Kalam!On one hand, his jokes would crack us up. Then there are those pearls of wisdom that everyone associates Mr Kalam .

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The Cabinet on Wednesday gave the green signal to the proposed Kannur airport project.Briefing reporters after the weekly Cabinet meeting here, Chief Minister Oommen Chandy said that the total project outlay of the project, conceived as a joint venture, was estimated to be Rs.930 crore.

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The Army version of supersonic cruise missile BrahMos was test-fired from the Interim-Test-Range at Chandipur-on-sea, Orissa, on Wednesday. This is the successful 11th flight of the missile, jointly developed by India and Russia.   more »

The Securities and Exchange Board of India (SEBI) slapped a penalty of Rs 1 lakh on JMP Securities Pvt Ltd, a Bombay Stock Exchange member, for committing "irregularities" in the trading of Global Telesystems Ltd (GTL) stock in September 2003.

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Heinz India has announced that it will partner with MJF Teas Ltd of Sri Lanka for the sales and distribution of premium tea under the brand name `Dilmah' in India. (Heinz India is the manufacturer of Complan, Glucon-D, Sampriti pure desi ghee, Heinz Tomato Ketchup and Sauces, and Nycil Powder.)

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The Petroleum Minister, Mani Shankar Aiyar, informed the Lok Sabha on Wednesday that the shortage situation of liquefied petroleum gas (LPG) in the country is expected to normalise soon.

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Birla Sun Life Insurance (BSLI) is to sharpen focus on group business by foraying into new segments. As part of its new strategy, the company will be targeting the small and medium enterprise (SME) segment.

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Indian Revenue Service (IRS) officers head the chart when it comes to corruption cases booked by the CBI. In 2004-05, at least 79 IRS officers were booked by the agency. The Customs and Central Excise Service (C&CES) came a distant second with 19 cases of corruption against its officers.

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 Notices were directed to be sent to some members of the Birla family and a senior executive of a Birla group by Mr Justice Kalyan Jyoti Sengupta of Calcutta High Court today regarding some jewellery belonging to Priyamvada Birla, which are stated to be lying with them.

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I first met Kousalya in 1999. She was just back from a hospital and looked extremely thin, tired and weak. But her strength shone through in a joke she cracked.Visits to hospitals had become a part of her life, she quipped, like visits to cinema halls and supermarkets are to other people.

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Going by the current mood in the BJP, even if suspended leader Uma Bharati sends in a contrite reply, she is going to be cut off from the party. The BJP leadership seems quite aware that she may reel out her 'daughter-of-the-party'

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The circle is complete. India's three biggest industrial houses Ambani, Tata and Birla have all dabbled in film production at some time or the other with varying degrees of success.

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The Government has sought the assistance of the Japan Bank of International Cooperation to fund the Bangalore Metro project and the second phase of the Delhi Metro. Urban Development Minister S Jaipal Reddy informed this to the Lok Sabha in a written reply on Wednesday.

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The Government has sought the assistance of the Japan Bank of International Cooperation to fund the Bangalore Metro project and the second phase of the Delhi Metro.

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One day after being sacked as national selector, a very upset Yashpal Sharma quit the DDCA selection committee in disgust and hit out at his former colleagues, BCCI administrators, the DDCA and Greg Chappell.

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The murder of Indian Oil Corporation executive, S Manjunath has shocked and outraged the nation.Manjunath, an IIM alumini was murdered in Uttar Pradesh's Lakhimpur Kheri district.

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Nankana Sahib in Pakistan has received a historic procession from India, carrying a copy of the Sikhs' holy book Guru Granth Sahib in a golden palanquin.The palanquin was taken by a nearly 2000 strong contingent of pilgrims, including Punjab Chief Minister Amarinder Singh, who crossed the Wagah border on Tuesday.

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Serious questions are being raised over the death of a student at IIT Kanpur.The body of 21-year-old Dhara Shah Swapnil was found under mysterious circumstances in a parking lot on the campus on Wednesday.

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Harassed by her in-laws for more dowry, it is a case of Catch-22 for 19-year-old Lakshmi.While she stood up and fought against it, her parents are now anxious about her future.

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Extradited gangster Abu Salem, who terrorised Bollywood for five long years between 1997 and 2002, is now threatening his interrogators from the lock-up.

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Uddhav Thackeray is doing his utmost to send out the message that the Shiv Sena is back to business  with or without Raj Thackeray. Without mentioning any names, Uddhav also hinted that his cousin was acting in tandem with NCP head honcho Sharad Pawar.

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Winds of change have blown across the landscape of Bihar. With Lalu Prasad Yadav's 15-year era having come to an end, it is time for a new beginning. Or is it ?

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