The finance Ministry will take up on March 6 the investment proposal of Malaysian budget carrier AirAsia which seeks to enter India through a joint venture with the Tata Group and another company. If cleared by FIPB, this will be the first entry of an foreign carrier in the domestic airlines.
Govt expects Rs.43,000 cr from spectrum sale
The government will get R43,011 crore if all the spectrum is sold at at the base price in the auction, MoS for Communications and IT Milind Deora said on Friday. The government has announced starting auction in March for 2G spectrum that remained unsold in November auction. Also,
spectrum held by existing operators Airtel, Vodafone and Loop
Mobile through licences that are due for renewal in 2014 will also be auctioned.
Hawala syndicates booked for transfer worth R325 crore
The DRI has booked a case against two hawala syndicates engaged in transferring illegal remittances to the tune of R325 crore during the last three years. The two hawala syndicates engaged in transferring illegal remittances using banking channels in the name of bogus firms, the finance ministry said.
FM to launch centralised cell for TDS
Finance minister P Chidambaram will open a centralized processing cell for tax deducted at source to the nation on Saturday. The cell in Ghaziabad will provide tax deductors, taxpayers and officers, a wide range of online services related to TDS, the ministry said.
Budget expected to woo foreign investors: Poll
Whether the government will reduce borrowing in the next fiscal year is too close to call, but economists polled by Reuters say its resolve to cut spending and giveaways in next week's Budget will reignite investor confidence. In the poll, conducted between February14-21, 19 of 23 economists expected the Budget to help bring in foreign investment.