Top 10 business news today: PM Modi’s mega Bihar package, H 1B visas death knell, ‘DishFlix’ for moviebuffs, more
Top 10 business news today: PM Modi’s mega Bihar package, H 1B visas death knell, ‘DishFlix’ for moviebuffs, more: In a major pre-poll sop for Bihar, Prime Minister Narendra Modi today announced package of a whopping Rs 1.25 lakh crore, promising that the state will touch new heights of development if the BJP is voted to power.
PM announces Rs 1.25 lakh crore package for poll-bound Bihar</br><br>
In a major pre-poll sop for Bihar, Prime Minister Narendra Modi today announced package of a whopping Rs 1.25 lakh crore, promising that the state will touch new heights of development if the BJP is voted to power.
Modi also hit out at Chief Minister Nitish Kumar for putting the prestige of Bihar at stake for his political gains by pleading with the previous UPA government for packages and getting only Rs 12000 crore.
"I am here today to fulfill my promise to you. I am announcing a package of Rs 1.25 lakh crore for Bihar. Now you give me your blessings to change the fate of Bihar… Only development will benefit the state and eradicate its poverty. Bihar will touch new heights of development," he said at a government function where several projects were launched.
Modi also made it clear that the Rs 1.25 lakh crore package will be in addition to the ongoing development projects worth Rs 40657 cr, announced previously.
Donald Trump sounds death knell to H 1B visas</br><br> Republican presidential frontrunner Donald Trump has sounded death knell to the H-1B visas by proposing to raise the minimum wage for this most popular work visas for Indian technology professionals as he released his policy of putting American workers first. Such a move, Trump argued, would force companies to give IT jobs to unemployed Americans and not cheaper workers from overseas, including India. Releasing his much awaited immigration policy, the New York based real-estate tycoon lashed out at Facebook founder Mark Zuckerberg and Florida Senator Marco Rubio, who has introduced a bill to triple the H-1B visas. (Reuters)
New Maha housing policy to rope in pvt builders for affordable housing</br><br> The state government will soon come up with a new policy that will make it mandatory for private builders to transfer a certain housing stock to Maharashtra Housing and Area Development Authority (MHADA). The policy, which is currently in place in Mumbai, will ensure that economically weaker sections across the state are able to buy homes at affordable rates. "MHADA and other government agencies have a limit on construction of houses as it becomes financially unviable for them beyond a certain limit. Thus, the government wants the participation of private builders to ensure affordable homes to a larger number of people," he said. The draft of the policy, which was supervised by the state's Town Planning and Housing departments, in pending with the Chief Minister's office for approval, he said. (Reuters)
Dish TV launches home video system 'DishFlix' for moviebuffs</br><br> To cash in on the demand of moviebuffs, direct-to-home service player Dish TV today launched home video system 'DishFlix'. DishFlix is a video on demand service that can be availed after buying a hardware which will be pre-loaded with 50 movies, mix of Bollywood and Hollywood content, and 15 new movies will be added every month. "DishFlix is a first of its kind, highly differentiated and consumer friendly product. It took us two and a half years to develop the product. We are offering 230 movies to a customer in a year," Dish TV India CEO R C Venkateish told reporters. DishFlix hardware, a 1 TB hard drive, will be priced at Rs 5,990 with a monthly subscription of Rs 100. (Thinkstock)
Cairn to seek damages from Govt for tax notice</br><br> Strongly contesting a Rs 10,247-crore tax demand raised on its eight-year old internal business recognition, British oil explorer Cairn Energy today said it will seek damages from the government for the loss in value of its holdings suffered because of the notice. The firm said it has initiated arbitration for resolution of the tax demand linked to 2006 reorganisation of Cairn India, its one-time Indian subsidiary with oilfields in Rajasthan. Cairn Energy, which in 2011 sold majority stake in Cairn India to mining major Vedanta Resources, had to scale back investments as it was barred by the Income Tax Department from selling its residual 9.8 per cent stake. (AP)
Vista Rooms enters online accommodation aggregator segment</br><br> Online hospitality startup Vista Rooms today announced its foray into branded accommodation aggregator segment with a focus on small cities across India. Vista Rooms has primarily targeted the unorganised affordable accommodations segment in tier II & tier III cities of India, building a network of over 450 properties in over 55 cities, the company said in a statement.
Roposo raises $15 mn from Tiger Global</br><br> Start-up fashion social network Roposo today announced raising of USD 15 million (nearly Rs 100 crore) from its existing investor, Tiger Global. The fresh fund will be utilised for building a stronger team, reinforcement of technological infrastructure and enhancing and revamping its products, the company said in a statement.
Mention Aadhaar on pensioners' identity cards: Govt tells depts </br><br> New Delhi, Aug 18 (PTI) All pensioners would get a laminated identity card with their Aadhaar numbers mentioned on it, the Centre has said. The move comes after it was observed that various departments are either not issuing pensioners' identity card to the retired employees or they are not in a prescribed format. The matter was reviewed by the Ministry of Personnel, Public Grievances and Pensions. "It has been decided that apart from the details already prescribed, the pensioner's identity card should include the Aadhaar number of the pensioner (if available)," the Ministry said in a directive to all ministries and departments under it.
Maggi noodles row: FSSAI yet to decide on future course</br><br> Food safety regulator FSSAI is reviewing the Bombay High Court order that last week quashed its order to ban Maggi, and has not yet decided if it will challenge the order in Supreme Court. The Bombay High Court had on August 13 quashed the orders of FSSAI and Maharashtra FDA banning nine variants of Maggi noodles in the country. The court had said that if the fresh tests show that lead content was below permissible limit, then the company will be allowed to manufacture and sell Maggi again in the country. (AP)