Cabinet gives the go ahead for ASTROSAT
New Delhi: The Union cabinet has approved an Rs.177.85 crore Astronomy Satellite (ASTROSAT) project to study stellar objects covering a range of high-energy radiations. ASTROSAT will be a National Observatory in Space.

To be developed and launched by ISRO by 2007, the project envisages design, development, fabrication and launch of a multi-wavelength astronomical observatory satellite for studies of cosmic sources. Although most of the observation time on the satellite will be for the use of Indian researchers, a part of the ASTROSAT's observation time will also be made available to international astronomical community on a selective basis.
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Cabinet clears India-Nepal rail agreement
New Delhi: The Union Cabinet has given its post-facto approval to the signing of the India-Nepal Rail Services Agreement for introduction of Freight Train Services between the two countries to and from Birgunj in Nepal via Raxaul in India. At present, freight traffic to and from Nepal is moving by road from different ports of India. It is proposed to improve the services by moving this traffic on the railway system from the Kolkata/Haldia ports to the newly-created terminal at Birgunj which is linked to Raxaul station of East Central Railway. In addition, some bilateral traffic also originating from loading stations on Indian Railways will be destined for Birgunj. This will reduce transit time and provide better customer services and also prevent diversion of Nepal-bound transit traffic to the Indian market thereby curbing smuggling.
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CCEA okays taxation pact with Armenia
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) has given formal approval to the signing of a 'Double Taxation Avoidance Convention' with Armenia. The approval will enable the Government to ratify the 'Convention for Avoidance of Double Taxation' and the 'Prevention of Fiscal Evasion' with respect to taxes on income between India and Armenia.
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Direct tax collections up by 52 per cent
New Delhi: Net direct tax collections of the Central Government up to July 15 increased by 52.02 per cent to Rs.16,412 crore, against Rs.10,796 crore collected in the same period last year. The government has said that initiatives on computerisation and significant changes in the business processes of the I-T Department would enable it to meet its targets for the year. The Budget estimates for direct tax collections during 2004-05 has been pegged at Rs 1,39,500 crore, which is about 32.55 per cent more than the actual collections of Rs 1,05,236 crore achieved in 2003-04.
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