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Fertilizer sector remained at top of sectors that receive natural gas from Reliance Industries' KG-D6 fields as the group of ministers tasked with distributing gas decided on Wednesday against diverting the supplies away from fertilizer plans.

The petroleum Ministry had requested the panel, vested with the Cabinet's powers, to rearrange priorities and give more gas to the power sector, which has been suffering due to shortages of the fuel. As per an estimate, power projects worth more than $21 billion have been stalled due to lack of gas.

The Revenue Department of the Finance Ministry will target 12 lakh service tax assessees who are not filing returns, Union Finance Minister P. Chidambaram said on Wednesday.

During the financial year 2013-14, the Finance Ministry aims to collect Rs 5.65 lakh crore in indirect taxes, comprising customs, excise and service tax.

After South Korean steel maker POSCO, world's top steelmaker ArcelorMittal also declared that it would scrap a planned steel plant in Odisha due to red tape delays.

Vijay Bhatnagar, chief executive officer of ArcelorMittal India & China, held long delays in acquiring required land and an iron ore mine responsible for its decision to scrap the project.

Announcing the decision, Bhatnagar said, "The delays relating to land acquisition and allocation of captive iron ore blocks means (the Odisha) project is no longer viable."

London, July 18 : British Prime Minister David Cameron praised India and Pakistan for taking initiative to resume bilateral talks to improve relations and urged them to play a crucial role in bringing back peace to war-torn Afghanistan.

The British leader said that better Indo-Pak relation is a cornerstone for regional peace and prosperity.

Mustard yesterday settled down -0.99% at 3401 due to steady sowin

Wheat yesterday settled down -0.13% at 1590 on the account of weak export demand along with weak d