Auto policy deferred again
New Delhi: The much awaited auto policy which was to have been taken up by the cabinet on 27 February has been deferred again.

The draft policy envisages up to 100 per cent foreign direct investment through automatic approval in the auto and components sector along with a minimum investment requirement of $ 100 million for four wheelers and $ 25 million for three wheelers.

The policy also includes major incentives for research and development including an increase in the weighted tax deduction under the income tax act for in-house R&D and sponsored research.

The policy would also encourage setting up of independent auto-design farms.
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IA reduces fares to Kolkata, Bangalore
Mumbai: Indian Airlines has announced a reduction in air fares from Mumbai to Kolkata and Bangalore with effect from 1 March.

The fare to Kolkata stands reduced to Rs 4,999 as against Rs 6,855 and that to Bangalore to Rs 3,599 instead of Rs 4,255.

These fares would be valid for one month.
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