VHP firm on deadline
New Delhi: The Vishwa Hindu Parishad has rejected the Centre's appeal to postpone its Ayodhya agitation. Refusing to budge from its 15 March deadline, the VHP said it will go ahead with the temple construction plan.

"Our programme remains unchanged. We will definitely take the stones for temple construction on 15 March", said Ram Janam Bhoomi Nyas trust president Mahant Paramahans Ramchandra Das.

The Bajrang Dal has warned the Centre of dire consequences if it obstructed the journey of kar sevaks to Ayodhya.
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RBI may cut repo rate by 50 basis pts
New Delhi: The Reserve Bank of India (RBI) may cut its repo rate by 50 basis points.

The RBI left the repo rate, the benchmark for short-term interest rates, unchanged at 6.5 per cent at its repo auction on 4 March. Bond traders have been speculating about a cut in interest rates by RBI after the finance minister announced a 50-basis-point cut in interest rates on some state-run small savings schemes, which are used by banks as benchmarks for pricing their long term deposits.
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CDBT moots new depreciation norms
New Delhi: The government has come out with new depreciation norms on buildings, furniture and fittings and intangible assets to be implemented from 2003-04.

The Central Board of Direct Taxes has prescribed a flat 60 per cent depreciation rate on new items like energy saving devices, equipment for air pollution, water pollution, solid waste, wooden parts used in artificial silk manufacturing machinery, rollers in flour mill and sugar works.

Renewal energy devices, gas cylinders, salt works, books owned by assessees also can be depreciated at the rate of 60 per cent.
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RBI can buy, sell euro
Mumbai: Reserve Bank of India has now been provided with an option to use euro for operation or intervention in addition to the US dollar. RBI would now be in a position to sell or buy euro also for operational purposes as and when considered necessary in future in the light of international developments, the central bank said in a release.

A government notification includes two new centres of Hyderabad and Nagpur for sale and purchase of US dollar and euro by the central bank for delivery in New York and Frankfurt respectively.
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