Officiating finance minister Pranab Mukherjee's Interim Budget for 2009-10 has provided for a six-month extension of the interest subsidy scheme, for exporters' loans taken in the labor-intensive sectors.
The announced extension of the 2 percent interest subsidy scheme - for small and medium enterprises as well as long-established export areas, like leather, textiles, marine products, gems and jewellery - will be costing the exchequer nearly Rs 500 crore in 2009-10.
The government, after ordering probe into IPOs of all listed companies, has ordered to scrutinize accounts of the education software and services firm, Educomp Solutions and Six public sector companies.
The move is aimed to check financial irregularities of accounts of these firms after the disclosure of largest ever corporate fraud committed by disgraced Satyam's Chief B Ramalinga Raju and other top executives of beleaguered software company.
The Union Government has finally announced hike in minimum support price of Wheat to Rs 1080 per quintal, ahead of harvesting season of rabi crops. The decision, to revise MSP, was taken in the recent meeting of the Cabinet Committee on Economic Affairs (CCEA) on Wednesday, chaired by Finance Minister Pranab Mukherjee, in the absence of Prime Minister Manmohan Singh. The hike of 8 per cent in wheat prices, despite reservation by Planning Commission and Finance Ministry, would effective on crop marketed from April onward.
On Thursday, a plan to auction third-generation radio frequencies for wireless service providers was referred to Group of Ministers (GoM) by the Union Cabinet. In order to drive next-generation mobile offerings, 3G services are quite vital. The offerings include high-speed internet and video conferencing.
The Department of Telecommunications (DoT) has approached Union Law ministry to get legal aid on the issue of increasing base price for 3G and broadband wireless access (BWA) spectrum allocation.
Interestingly, the telecom department is not is the favor of increasing base price of 3G spectrum as it can discourage companies to participate in the auction process. Low participation by companies may decrease competitiveness that can lead to significant losses to state exchequer.
All India Motor Transport Congress (AIMTC) has called off eight day long transporters strike on Monday. The transport strike crippled the entire nation with adverse impact on supply of essential commodities and services. Some states had also imposed Essential Services Maintenance Act (ESMA) on striking transporters to deal with the situation.
Officiating finance minister Pranab Mukherjee's Interim Budget for 2009-10 has provided for a six-month extension of the interest subsidy scheme, for exporters' loans taken in the labor-intensive sectors. 
The government, after ordering probe into IPOs of all listed companies, has ordered to scrutinize accounts of the education software and services firm, Educomp Solutions and Six public sector companies. 
The Union Government has finally announced hike in minimum support price of Wheat to Rs 1080 per quintal, ahead of harvesting season of rabi crops. The decision, to revise MSP, was taken in the recent meeting of the Cabinet Committee on Economic Affairs (CCEA) on Wednesday, chaired by Finance Minister Pranab Mukherjee, in the absence of Prime Minister Manmohan Singh. The hike of 8 per cent in wheat prices, despite reservation by Planning Commission and Finance Ministry, would effective on crop marketed from April onward. 
On Thursday, a plan to auction third-generation radio frequencies for wireless service providers was referred to Group of Ministers (GoM) by the Union Cabinet. In order to drive next-generation mobile offerings, 3G services are quite vital. The offerings include high-speed internet and video conferencing.
The Department of Telecommunications (DoT) has approached Union Law ministry to get legal aid on the issue of increasing base price for 3G and broadband wireless access (BWA) spectrum allocation. 
All India Motor Transport Congress (AIMTC) has called off eight day long transporters strike on Monday. The transport strike crippled the entire nation with adverse impact on supply of essential commodities and services. Some states had also imposed Essential Services Maintenance Act (ESMA) on striking transporters to deal with the situation.
