Centre to seek consensus on real estate
New Delhi: Urban Development Minister Ananth Kumar said on Wednesday the centre will build consensus among state governments on various issues including urban land ceiling acts and taxation matters within a couple of months to ensure higher growth of the real estate sector.

"We are planning to hold a national summit of state chief ministers chaired by Prime Minister A B Vajpayee within the next couple of months to evolve a consensus for carrying out reforms in housing and real estate sector," Kumar said inaugurating the CII conference on real estate 'Reality 2001'.
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BA's sops hits other airlines
New Delhi: British Airways (BA) offer for passengers in India has severly hit other airlines.The Rs 29,000-anywhere-in-the-world offer from BA, has led to competitor airlines and travel agents baying for BA's blood.

BA had recently offered vouchers to travel agents entitling them to issue tickets for Rs 18,000 to Europe and Rs 29,000 to any destination worldwide, valid till March 31only available against cash.
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Govt asks airlines to get cover from market
New Delhi: The government would not extend a guarantee for third-party war risk cover for state-run Air-India and Indian Airlines beyond October 31.

A government official said on Wednesday that the two airlines would have to get the insurance cover from the market after the guarantee expires at the end of this month.

"We have asked Air-India and Indian Airlines to pay to get the insurance from the market. It is available from insurers," the official said, adding "we will not extend the guarantee."
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New rules for companies regarding JV
New Delhi: The Institute of Chartered Accountants of India is finalizing a new accounting standard which will require companies that have entered into joint ventures to recognise in its financial statements assets it controls and liabilities it incurs in jointly controlled operations, even if it has not established a new company jointly.

Expenses incurred and its share in income from sale of goods and services of the joint venture are also to be reflected in the companys financial statement. The new accounting standards are expected to come into force next year.
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