Economists expect reforms from ‘stable’ UPA-coalition; growth forecasts revised upward

Manmohan SinghWith a more 'politically-stable' Congress-led UPA coalition returning to power under the Prime Minister-ship of Dr. Manmohan Singh, economists anticipating greater reforms are revising upward the growth projections of GDP in India.

Moody’s: Election triumph for Congress-led coalition alleviates downgrade fears

Moody’s: Election triumph for Congress-led coalition alleviates downgrade fears

With the massive mandate in favor of the Congress-led UPA alliance, credit rating agency Moody’s said that the ‘game-changing event’ would take the edge off the downgrade pressure on India’s sovereign ratings.

Indian industry hails UPA’s historic win

FICCIWith the Indian industry hailing the pounding triumph by Congress-led United Progressive Alliance (UPA), Federation of Indian Chambers of Commerce and Industry (FICCI) said that it was a step in the right direction - explicitly underlying stability, growth, continuity and economic prosperity under the headship of Prime Minister Dr. Manmohan Singh.

The FICCI President Harsh Pati Singhania said that the massive mandate in favor of the UPA, demonstrating the electrorate's high level of maturity, was an upbeat indication for both the country's democracy as well as the world.

RJD will join next UPA Govt: Lalu Prasad

Sonia GandhiPatna, May 17 : Hours later United Progressive Alliance (UPA) chairperson Sonia Gandhi called up Rashtriya Janata Dal (RJD) Chief Lalu Prasad to attend the Cabinet meet, the Railways Minister said his party was ready to join the Congress-led Government at the Centre.

Lalu has not been attending cabinet meetings ever since he forged an alliance with the Lok Janshakti Party (LJP) and the Samajwadi Party (SP).

On Saturday, Lalu admitted that not contesting the elections in alliance with the Congress was a big mistake.

Congress gains; BJP and Left bearing loss

Congress gains; BJP and Left bearing lossCongress is set to return to power in 15th Lok Sabha Elections. Out of 476 seats, UPA was leading on 230 seats while NDA was ahead on 150 seats.

In Uttar Pradesh, Congress was leading on 14 seats while BJP was leading on 12. SP was ahead on 12 seats. BSP was leading on 13 seats. Sonia Gandhi and Rahul Gandhi were leading on their seats.

In Bihar, NDA was leading on 12 seats. RJD Alliance was leading on 3 seats only. RP Rudy was leading on his seat. Lalu Yadav was leading in Patliputra.

Congress leads in Delhi, Haryana, Rajasthan

Congress leads in Delhi, Haryana, RajasthanCongress has managed to hold its grip on seats in New Delhi and Haryana. As per the latest reports, Congress was heading for a clean sweep in New Delhi. The party was leading on 9 seats out of 10 in Haryana as well. Congress party was leading on 19 seats in Rajasthan.

Congress leader Sachin Pilot was leading from Ajmer. Jitendra Singh was leading from Alwar.

Ajay Maken was ahead in New Delhi. Sandeep Dikshit was much ahead of his opponent in New Delhi.

UPA going strong in Lok Sabha Elections results

UPA going strong in Lok Sabha Elections resultsAt 10 Janpath, Congress workers were celebrating and were very happy as UPA was leading in the Lok Sabha Elections. In New Delhi, Congress has managed to maintain lead over opposition.

Congress party is now expecting invitation from President Prathibha Patil to form a government. Congress General Secretary B K Hariprasad was confident that Congress will emerge as single largest party.

UPA Leading; Left major loser during first rounds of counting

UPA Leading; Left major loser during first rounds of countingCounting of votes commenced today for Lok Sabha Elections and UPA was leading on 230 seats out of 474. Congress has been a major gainer in current elections while NDA was leading on nearly 120 seats.

Rahul Gandhi was ahead in Amethi. P Chidambaram was leading in Sivaganga. Jaswant Singh was leading from Darjeeling.

In New Delhi, Congress has been leading on 6 out of seven seats for which the trends were coming. In Uttar Pradesh and Punjab, Congress is gaining.

UPA is an "Ulta Pulta Alliance"

UPA is an "Ulta Pulta Alliance"New Delhi, May 11: Bharatiya Janata Party (BJP) spokesman Ravi Shankar Prasad on Monday described the Congress-led United Progressive Alliance (UPA) as an "Ulta Pulta (topsy turvy) Alliance".

Hours after Prime Minister Manmohan Singh questioned Bihar Chief Minister Nitish Kumar''s secular credentials, Prasad said the UPA was a divided house.

"Manmohan Singh looked pessimistic and defeated. The campaign of Congress lacks maturity and no one knows who is saying what. UPA is Ulta Pulta Alliance," Prasad said at a press conference in the capital.

Pranab Mukherjee says UPA is not falling apart

External Affairs Minister Pranab MukherjeeNew Delhi, Apr. 5 : External Affairs Minister Pranab Mukherjee has rejected BJP claims that the United Progressive Alliance is falling apart.

On Sunday, Mukherjee told reporters in New Delhi that all the constituents of the alliance except PMK are still with the UPA.

Mukherjee added that Congress did not have any alliance at the national level and was having only seat adjustments at the state level.

Replying a question on the loyalty of RJD, SP and LJP, Mukherjee said leaders of all the three parties have reiterated their commitment to the UPA. (ANI)

Government announces service tax relief for SEZ units

SEZIn a major relief to firms the government has announced to extend tax relief to companies who are providing services from the tax-free export zones. Developers are also entitled to avail the benefits of tax exemptions under the new norms. However, tax benefits would be extended only for permitted activities within SEZs.

A statement by commerce ministry said that government has also decided to exempt the zones from all indirect taxes for authorized operations. The Empowered Group of Ministers has already endorsed the viewpoint of commerce ministry in a meeting held on August 2008 chaired by External Affairs Minister and Finance Minister Pranab Mukherjee.

Government clears 29 FDI proposals

Foreign Direct InvestmentThe Union Government on Wednesday approved the recommendations of the Foreign Investment Promotion Board (FIPB) clearing 29 FDI proposals worth Rs 6.16 billion. The companies, whose FDI proposals have been cleared, include AAPC Singapore, ABG Bulk Handling Poltrona Frau and some media and entertainment houses.

Diplomatic pressure forced Pak to speak out truth: Sonia

United Progressive Alliance (UPA) chairperson Sonia GandhiSonepat (Haryana), Mar 1 : The United Progressive Alliance (UPA) chairperson Sonia Gandhi said that diplomatic pressure exerted on Islamabad made Pakistan to divulge the truth and admit that the Mumbai terror attacks were partly planned on its soil.

"Pakistan was forced to speak out the truth due to the diplomatic pressure exerted by India," said Sonia Gandhi while addressing a public meeting here.

Sonia, however, said that some elements were trying to create obstacles in country's progress from time to time.

Sonia Gandhi lays foundation stone of women’s medical college in Haryana

United Progressive Alliance (UPA) chairperson Sonia Gandhi Sonepat (Haryana), Mar 1 : United Progressive Alliance (UPA) chairperson Sonia Gandhi on Sunday laid the foundation stone of a women's medical college in the Bhagat Phool Singh University campus in Khanpur Kalan, Haryana.

She also unveiled a statue of Bhagat Phool Singh on the occasion.

A large number of armed police and security personnel were deployed for the visit.

Duty magistrates monitored the law and order situation.

Govt. relaxes fiscal gap target of states to 3.5 percent

Govt. relaxes fiscal gap target of states to 3.5 percentKeeping in mind the global slowdown, the government on Thursday decided to relax the fiscal gap target of states to 3.5 percent.

Talking to reporters Union Home Minister P. Chidambaram said, "In view of the slowdown and pressure on resources, this gap was first relaxed to 3.5 percent for the present year, 2008-2009. But the slowdown is likely to continue next year. So, the gap has been relaxed to 3.5 percent also for 2009-10."

Central Government employees to enjoy 6 percent increase in DA

Central Government employees to enjoy 6 percent increase in DAThe employees of central government have yet another reason to cheer as the Union Government has announced to hike the dearness allowance of employees and pensioners by 6 percent from existing 16 per cent to 22 per cent with immediate effect.

The new DA rates would be applicable from January 1, 2009 according to Home Minister P Chidambaram, who was addressing a press conference after the cabinet meeting.

More sops likely this week before poll code kicks in

Barely a week after the vote-on-account, the government has announced measures that are being broadly referred to as the third stimulus package.

During the Budget presentation, acting finance minister Pranab Mukherjee had not announced any financial sops citing "constitutional propriety" of a poll-bound government. But in the Lok Sabha on Tuesday, Mukherjee spoke of "flexibility" within the "constitutional constraints" and global recession to provide stimulus to the economy.

Ramadoss, Centre Government get notice by the Supreme Court for closing PSU vaccine plants

Ramadoss, Centre Government get notice by the Supreme Court for closing PSU vaccine plantsHealth minister Anbumani Ramadoss will have to answer the Supreme Court for his decision to close three public sector units manufacturing many life-saving vaccines. On January 15, 2008, the production licenses of Pasteur Institute of India (Coonor), BCG Vaccine Laboratory (Chennai) and Central Research Institute (Kasauli) were cancelled.

Patel suggests strict action against airlines involved in cartelization

Praful PatelToday a warning was extended to private airlines, which are hiking their airfares by forming cartels, by Union Civil Aviation Minister Praful Patel who announced that strict action would be taken against those indulging in such activities.

Mr. Patel said, "As far as raising airfares is concerned, they are outside the domain of the government as airfares are fixed by market forces."

Pranab suggests to cut salaries instead of jobs

Pranab MukherjeeThe industry has been requested by foreign minister Pranab Mukherjee to cut salaries instead of cutting jobs to fight the bad times of financial meltdown across the globe, which has led to major cut in jobs in recent past.

According to Mr. Mukherjee, who also holds the charge of the finance ministry, there was a need to protect the labour force, even if it meant a slight reduction in emoluments.

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