The Central Board of Direct
Taxes has notified that the global depository receipts issued
to employees under foreign convertible bonds and ordinary shares
would be eligible for concessional rate of taxation.
Bowing to the pressure from
an influential powerloom and agricultural lobby along with various
consumer organisations, the state government has strongly opposed
the Maharashtra State Electricity Board’s 19 per cent tariff
hike suggested for 2001-02 to the Maharashtra Electricity Regulatory
Commission.
The government has cleared
foreign direct investment (FDI) proposals worth Rs 203 crore
including projects of Mobil Petroleum, Standard life investments,
Asea Brown Boveri, Mitsubishi and Ford Motor.
