Petroleum dealers call off strike in Maharashtra
Mumbai: Maharashtra petroleum dealers on strike since November 19, have agreed to withdraw their strike with immediate effect after getting an assurance from Finance Minister Jayant Patil that sales tax would be reduced.

While Maharashtra levies 33 pc tax on diesel and 28 pc on petrol, neighbouring states like Goa, Gujarat and Karnataka levy taxes between 22-24 pc.
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Left softens stand on pension fund issue
New Delhi: The Left parties have said they have no objection to pension funds being deployed in the stock market so long as the funds are managed by public sector banks and financial institutions.
They are however adamant on their demand to ensure guaranteed returns to employees on their pension, which may give a setback to the government's plan to push through the Pension Funds Regulatory and Development Authority (PFRDA) Bill in the winter session of Parliament.

The central government says it is not possible to guarantee a fixed return on pension funds and if employees desire a fixed return, they can purchase a fixed income plan by paying extra money.

Allowing investment in the stock market is a significant compromise for the Left parties, especially as its affiliated trade unions had earlier rejected the proposal, arguing that workers' money must not be used for speculative activity.
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Capital city may get makeover
Mumbai: The national capital is set to get a makeover as there are less than four years left for the Commonwealth Games. The state recently showcased its plan to senior central government officials promising advanced transportation systems including monorails, high capacity bus systems, elevated roadways, flyovers, bridges and interchanges.

Traffic will be smooth, with reduced accidents, fewer traffic lights, lower pollution and lesser interchange time between various kinds of transport systems. An additional 24 flyovers, 13 bridges and 12 multi-level car parks are proposed to be set up.

According to government estimates, Rs8,300 crore will be needed for various upgrades including transport facility augmentation, sewage management and sports infrastructure. Part of the money — Rs 770 crore — will be a special grant from the Planning Commission to the Delhi government.
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Largest ever US trade misson to visit India
Houston: The US under secretary of commerce for international trade Frank Lavin is leading one of the largest business development missions to India to participate in the India Business Summit, beginning in Mumbai from November 28.

The mission has 238 business participants representing 186 US companies, according to a Commerce Department statement released yesterday.

The mission's goal is to position US firms for long-term business success in India so US exports expand and create more American jobs.

Total US exports to India in 2005 stood at US$ 7.9 billion, an increase of 30 per cent over 2004. Through September 2006, US exports have grown 24.3 per cent over the same period last year.
The US Commercial Service is arranging market briefings, networking receptions, and one-on-one business appointments with prospective agents, distributors, partners, and end-users for each US company.

The trade mission represents a diverse range of industry sectors, with the greatest participation from medical/healthcare companies, information technology companies, energy/power/oil and gas companies, and telecommunications companies.

There are participants from 35 US states with California, Texas, the District of Columbia, Virginia, New Jersey, New York and Pennsylvania having the largest number of participants.
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