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Airports
get the much-needed fillip
New Delhi: The Budget has provided a major thrust
to aviation infrastructure by earmarking Rs 3,500 crore
for renovation and modernisation of the two metro airports
in New Delhi and Mumbai through innovative funding mechanisms.
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Selloff
target set at Rs 13,200 crore
New Delhi: Increasing the disinvestment target
by 10 per cent, finance minister Jaswant Singh has fixed
Rs 13,200 crore from the sale of equity in public sector
undertakings and department commercial undertakings.
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VAT's
good for many hardware firms
Mumbai: The hardware sector's hope for reduction
in excise duty has not come true. However, many other
announcements made by the finance minister on Friday will
help the industry, says Vinnie Mehta, director, Mait,
referring to announcements like removal of excise duty
on preloaded software which will bring down computer prices
by Rs 500 to Rs 600.
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Seven
Indians in Forbes richest list
New Delhi: Seven Indians led by software mogul
Azim Premji, Ambani brother-duo and Kumaramangalam Birla
made it to the global billionaires list.
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Reva
decides to slash prices
Bangalore: Reva Electric Car Company (RECC) has
reduced the price of its cars between Rs 13,000 and Rs
31,500 after the Finance Minister announced duty cuts
for electric cars.
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Toyota
to cut price; Volvo may not
New Delhi: Toyota Kirloskar Motor Ltd is expected
to reduce prices of its cars and multi-purpose vehicles
following the announcement of reduction in excise duty
by 8 per cent to 24 per cent.
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Gujarat
Ambuja plan gets HC nod
Mumbai: Gujarat Ambuja Exports has informed the
BSE that the High Court of Gujarat has approved/sanctioned
the scheme of arrangement between the company and its
equity shareholders for repayment of capital to small
equity shareholders holding up to 99 shares in physical
form in each folio.
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ONGC
signs pact with IOC to sell crude
New Delhi: After a year's deadlock, Oil and Natural
Gas Corporation (ONGC) on Thursday signed an agreement
with Indian Oil Corporation (IOC) for supply of around
ten million tonnes of crude oil to the latter's refineries.
The price of crude is linked to global market prices.
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