New Delhi: A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes. "We have submitted the report to the Finance Minister. Action will be taken on it as and when the government decides. Policy is with DIPP so finally they will take a call. This is just our recommendation," Economic Affairs Secretary Arvind Mayaram told reporters in Delhi.
The committee, which was set up by Finance Minister P Chidambaram to review the sectoral caps, has suggested that the Foreign Direct Investment (FDI) ceiling in the defence sector be raised to 49 per cent under the government approval route from 26 per cent at present. In order to make multi-brand retail more attractive to foreign investors, the panel suggested that the FDI limit be raised to 74 per cent under the Foreign Investment Promotion Board (FIPB) route from 51 per cent. In case of single-brand retail, it suggested easing of the norms by advocating 49 per cent investment under the automatic route.
Currently, the government allows 100 per cent FDI under the approval route. Similarly in case of pharmaceuticals sector, the committee recommended 49 per cent under automatic route as against 100 per cent under the government approval route. As regards the telecom sector, the Mayaram panel said that 100 per cent FDI be allowed under the FIPB route as against 74 per
12:08 AM, Jun 19, 2013
New Delhi: Government on Friday allowed Norwegian telecom firm Telenor to increase stake in its Indian arm from 49 per cent to 74 per cent at an estimated equity infusion of around Rs 934 crore. "Telenor proposal has been approved," Economic Affairs Secretary Arvind Mayaram said after the meeting of Foreign Investment Promotion Board (FIPB). Industry sources said Telenor's proposal involve investment of Rs 934 crore to raise stake by...
09:38 PM, Jun 14, 2013
Ghazipur: Samajwadi Party (SP) minister Om Prakash Singh has made a distasteful attack on former Uttar Pradesh chief minister Mayawati and called her ugly. "If you can tolerate an ugly Mayawati for five years, why can't you tolerate our leader for an hour," said the SP leader. The UP minister made the remark at the BSP supremo while addressing a rally in Ghazipur. ...
01:50 PM, Jun 13, 2013
New Delhi: A special court will hear a plea by CBI which has sought permission to conduct a lie detection test on former UP minister Raja Bhaiya in connection with the Kunda Deputy SP Zia-ul-Haque's murder probe. The plea was filed along with a consent letter from the former UP Minister Raghuraj Pratap Singh for the test. Raja Bhaiya was questioned by the CBI early in May about his relations...
07:31 AM, Jun 11, 2013
New Delhi: The death in police custody of accused Khalid Mujahid,who died under mysterious circumstances in police custody while being taken to a prison in Lucknow from Barabanki,is under probe. According to sources, Justice RD Nimesh Commission has questioned the police version of Mujahid's arrest. The police allegedly forced Khalid Mujahid to sign on a statement accepting that he was involved in the Lucknow and Faizabad courts blasts in November...
04:23 PM, Jun 06, 2013
New Delhi: The Central Bureau of Investigation (CBI) has sought permission from a special court for conducting a lie detection test on former UP minister Raja Bhaiya in connection with the Kunda Deputy SP Zia-ul-Haque's murder probe. The application has been moved in court with Raja Bhaiya's consent. Haque's wife Parveen Azad had accused the SP leader of being involved in the murder which took place on March 2. The...
01:29 PM, Jun 06, 2013
Lucknow: Upset over UP government's decision to allow Dalit memorials constructed during previous Mayawati regime to be used for cultural functions, BSP today demandedimposition of President's rule in the state. A delegation of BSP leaders met Governor BL Joshi and handed him a memorandum, stating that the move was in violation of High Court and Supreme Court orders. "The use of land in Dalit memorials for marriage and other events...
03:55 PM, May 27, 2013
Lucknow: Amid public resentment over power crisis, Uttar Pradesh Chief Minister Akhilesh Yadav on Saturday said the state government will work on a large scale to ensure power supply was in accordance with the electricity demand. The Samajwadi Party government has inherited a loss of Rs 25,000 crore from the previous Mayawati regime, but it was working on setting up of new projects which would free people of the power...
05:52 PM, May 25, 2013
Lucknow: BSP supremo Mayawati's dream projects, including memorials and parks in the name of Dalit icons in the state capital, would now witness marriages and cultural events with the Akhilesh government deciding to use the space for public purposes. "Yes...the decision has been taken in this regard. It was in the Samajwadi Party's election manifesto to utilise areas of these memorials and parks for public purposes. By doing so we...
12:25 PM, May 23, 2013
Lucknow: Uttar Pradesh Chief Minister Akhilesh Yadav has said that the state government will do everything possible under the law in the Dalit Memorial scam case in which close aides of BSP chief Mayawati have been indicted. While Uttar Pradesh Lokayukta NK Mehrotra had said that there is no evidence against Mayawati in the Dalit Memorial scam, he had recommended that the money should be recovered from former ministers Nasimuddin...
03:40 PM, May 21, 2013
Lucknow: The ruling Samajwadi Party on Monday said that all those indicted by Uttar Pradesh Lokayukta, for syphoning off public money in construction of memorials during the BSP regime, would be punished according to the law. In a statement issued here, SP spokesman Rajendra Chaudhary said that Lokayukta, vigilance and CBI were probing scams of the previous Mayawati regime and the results were appalling. "All records of misuse of the...
01:55 AM, May 21, 2013
Lucknow: In a huge setback for former Uttar Pradesh chief minister Mayawati, the state government has named the BSP chief's key confidant in its report on the Dalit Memorial Scam and asked for a Rs 1,400 crore compensation. The UP Lokayukta, NK Mehrotra, has named Mayawati's key aide former minister Nasimuddin Siddiqui and Mayawati's former right hand man Babu Singh Kushwaha as the main accused in the scam. Both the...
04:00 PM, May 20, 2013
Ahmedabad: After a U-turn by the Gujarat government on the death penalty for former minister Maya Kodnani and nine others, convicted in 2002 Naroda Patiya riot case, the SIT has decided to seek Supreme Court's guidance on the issue. "Very soon, we are going to file an application before the special bench of the Supreme Court apprising it about the recent Gujarat Government's decision to withdraw the sanction for filing...
06:42 PM, May 18, 2013
New Delhi: Congress on Tuesday flayed Gujarat government for withholding its decision to seek death for Maya Kodnani in the Naroda Patiya case, saying there has been no change in the mindset of Chief Minister Narendra Modi and his feelings about a community. "It proves that Modi has not changed. He was like this in the past and will remain so in the future. There has been no change in...
02:14 PM, May 14, 2013
Ahmedabad: In a U-turn of sorts, the Gujarat state legal department has written to the chief prosecutor in the Naroda Patiya massacre case, seeking approval for enhancement of punishment for BJP leader Maya Kodnani and Bajrang Dal's Babu Bajrangi to be put on hold. The legal department wants the punishment to be put on hold until further instructions. Earlier the department had given a sanction to the Special Investigation Team...
08:51 AM, May 14, 2013
New Delhi: Telugu film 'Mayabazar' has topped the poll conducted by IBNLive to find out India's greatest film till date. Malayalam film 'Manichitrathazhu' came 2nd while another Malayalam film 'Oru Vadakkan Veeragatha' grabbed the 3rd spot. Almost every big name of Telugu, Tamil and Kannada film industry was associated with Kadri Venkata Reddy's film 'Mayabazar', which was released in 1957. Be it cinematography or be it music, this film was...
04:30 PM, May 12, 2013
Pune: German Bakery, the Pune-based eatery that was ripped apart a powerful blast, has been reopend on Sunday after three years-three months of the incident. This comes a month after the Pune Sessions Court convicted and sentenced prime perpetrator Himayat Baig to death for his role in the blast on February 13, 2010. The rebuilt bakery has at least 16 CCTV cameras and metal detectors to ensure tight security. Renovated...
02:46 PM, May 12, 2013
Telugu actor Sharwanand and Nithya Menon will feature as the lead pair in a film titled 'Yemito Ee Maya'. The film will be directed by three times National award winning director, Cheran of 'Naa Autograph' fame. The shooting of the movie is complete and the film is currently in its post production stage. The film is set to be released in the month of June. The film is produced by...
11:45 AM, May 12, 2013
Guatemala City: A Guatemalan court on Friday found former dictator Efrain Rios Montt guilty of genocide and crimes against humanity during the bloodiest phase of the country's 36-year civil war. He was sentenced to 50 years in prison on the genocide charge and 30 years for crimes against humanity. It was the first time a former head of state had been found guilty of genocide in his or her own...
07:11 AM, May 11, 2013
Chennai: Tamil actor Prasanna Venkatesan feels that an actor should accept commercial roles only after having enough experience and confidence that audiences is ready to accept him in such a avatar. "It's a misconception that anybody can do a commercial film after two or three hits. You can tread that path only if you have years of experience and large fan following. People should be ready to accept you in...
04:45 PM, May 05, 2013
