Notwithstanding government's failure to get the ambitious Food Security Bill passed in the Budget session, Prime Minister Manmohan Singh today said UPA is committed to make this law after considering "all opinions."
Faced with higher excise duty on its SUV models, homegrown auto major Mahindra and Mahindra today said it will be compelled to consider modifying its products to align with the new specifications for lower duty.
In the face of Opposition onslaught, Prime Minister Manmohan Singh today said he was "very confident" that Parliament will transact financial and other business in the remaining part of the Budget session.
The Tamil Nadu state budget was tabled today and there is some good news for the debt ridden state electricity board (SEB). The government has said that the power situation in Tamil Nadu is set to improve and the SEB will turn around in 3-4 years.
In a move that would help boost flow of overseas funds into Indian capital markets, regulator Sebi today allowed FIIs to offer government securities and corporate bonds as collaterals for their cash and derivative transactions on the stock exchanges.
Justifying the hike in charges on various counts announced recently, Railway Minister Pawan Kumar Bansal today hinted at further increase in surcharge on bookings and cancellations for balanced development of the country's largest transporter which has "limited resources".
As the Parliament session kickstarts again for the week today, discussion on Railway Budget is expected to be made. The Securities and Exchange Board of India (Amendment) Bill, 2013 will also be tabled at the Rajya Sabha.
The government today said it will reduce outgo on subsides from 2.6 percent of GDP in 2011-12 to 1.5 percent by the end of 12th Plan (2012-17) to contain the expenditure within a "pre-determined level of affordability".
The finance ministry today cleared the investment proposal of Malaysian budget carrier AirAsia which seeks to enter India through a joint venture with Tata Group and another company. On the sideline of the development, Shereen Bhan spoke to Arun Bhatia of Telestra Tradeplace Pvt Ltd to get more insight on the development.