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Budget addresses inflation, gives push to reforms

New Delhi: Finance Minister Pranab Mukherjee on Monday said his Budget proposals address the problem of high inflation and give a push to economic reforms. "I had to place the Budget in a situation where there is uncertainty in the international world (and) high food inflation – though in terms of percentage it has come […]

US operatives suspend activities, some leave Pak

Islamabad: At least 30 suspected covert US operatives have suspended their activities in Pakistan and 12 have left the country following the arrest of CIA contractor Raymond Davis late last month, according to a media report on Monday. In the wake of Davis` arrest in Lahore on January 27 for gunning down two men, Pakistan`s […]

No filing of tax returns if salary is only income

New Delhi: In a big relief from cumbersome tax filing process for the salaried class, Finance Minister Pranab Mukherjee on Monday proposed to exempt them from filing tax returns unless they have other sources of income. The government will be issuing a notification exempting `classes of persons` from the requirement of furnishing income tax returns, […]

Two judges kidnapped in restive Balochistan

Islamabad: Two judges have been kidnapped in the restive Balochistan province of southwest Pakistan days after the abduction of four senior lawyers, triggering protests by lawyers` associations. District and Sessions Judge Jan Mohammad Gohar Yasinzai and Civil Judge Mohammad Ali Kakar were travelling to Usta Mohammad by road to attend a wedding when they were […]

UK, German carry out secret air rescue from Libya

London: In an indication of stiffening of western nation`s attitude to Muammar Gaddafi`s regime, British and German military planes flew clandestinely into the Libyan desert rescuing hundreds of civilians stranded in the country. The dramatic rescue by planes followed a secret commando raid by Britain`s famed SAS which plucked 150 oil workers from multiple locations […]

Govt raises interest subsidy limit of home loans to Rs 15 lakh

New Delhi: In a move that could encourage buyers of low cost houses, the Finance Minister Pranab Mukherjee on Monday said the one per cent interest subsidy will be available on home loans of up to Rs 15 lakh against the current level of Rs 10 lakh. Announcing this in his Budget for 2011-12, Mukherjee […]

Defence budget up by 11.6 per cent

New Delhi: Government on Monday raised the defence budget by 11.6 per cent to Rs 164,415 crore for 2011-12 from Rs 1,47,344 crore last year to modernise the armed forces. To procure modern weapon systems and defence equipment, Rs 69,199 crore has been allocated for capital expenditure, Finance Minister Pranab Mukherjee informed the Lok Sabha […]

No special benefit in I-T exemption limit to women

New Delhi: Finance Minister Pranab Mukherjee on Monday kept the income tax exemption limit unchanged for women at Rs 1.90 lakh while increasing it for men and senior citizens. Mukherjee, in his 2011-12 Budget speech, proposed to raise income tax exemption limit for general taxpayers to Rs 1.80 lakh from Rs 1.60 lakh per annum […]

No filing of tax returns if salary is only income

New Delhi: In a big relief from cumbersome tax filing process for the salaried class, Finance Minister Pranab Mukherjee on Monday proposed to exempt them from filing tax returns unless they have other sources of income. The government will be issuing a notification exempting ’classes of persons’ from the requirement of furnishing income tax returns, […]

Govt pegs FY12 subsidy bill 13 pc lower than current fiscal

New Delhi: The government has pegged its outgo on food, fuel and fertiliser subsidies in the 2011-12 fiscal around 13 per cent lower than the revised estimates for the current fiscal. According to the budget proposals, the government`s subsidy bill on food, petroleum and fertilisers is estimated at Rs 1,34,210 crore for the 2011-12 fiscal, […]

Budget addresses inflation, gives push to reforms: FM

New Delhi: Finance Minister Pranab Mukherjee on Monday said his Budget proposals address the problem of high inflation and give a push to economic reforms. "I had to place the Budget in a situation where there is uncertainty in the international world (and) high food inflation – though in terms of percentage it has come […]

Govt interest subsidy to go up 31.5 pc in FY12

New Delhi: The government on Monday said its interest subsidy outgo is projected to increase by 31.50 per cent in 2011-12 to Rs 6,868.47 crore. The interest subsidy for the current fiscal was originally estimated at Rs 4,416.09 crore, but was later revised upward to Rs 5,223 crore. Presenting the Budget for 2011-12, Finance Minister […]

No step to check high prices, unemployment, corruption: Left

New Delhi: The Left parties on Monday accused the government of not taking any step to check high prices, poverty, unemployment or corruption, saying the budget was aimed at burdening the poor and subsidising the rich. The CPI(M) said Finance Minister Pranab Mukherjee promised to bring in or amend seven legislations to liberalise the financial […]

Five-fold strategy to deal with black money menace

New Delhi: Expressing "serious concern" over the generation and circulation of black money, Finance Minister Pranab Mukherjee on Monday said the government has adopted a five-fold strategy to deal with the menace. "The generation and circulation of black money is an area of serious concern. To deal with this problem effectively, the government has put […]

Zimbabwe crush Canada in Battle of Minnows

Nagpur: Tatenda Taibu missed out on his maiden World Cup century by two runs but his superb run-a-ball knock helped Zimbabwe crush Canada by 175 runs in a Group A match here on Monday. Former captain Taibu added 181 runs for the third wicket with Craig Ervine to lay the foundation of Zimbabwe innings after […]

No Oscar for Rahman, Anwar

Los Angeles: A R Rahman failed to recreate his `Slumdog Millionaire` Oscar magic this year, losing out in the Best Original Score and Best Song categories at the 83rd Academy Awards here today. Indian hopes were further dashed when NRI editor Tariq Anwar failed to bag the Best Film Editing trophy for the British drama […]

Rupee up 5 paise

Mumbai: The Indian rupee rose by 5 paise to Rs 45.27 against the US dollar in early trade on the Interbank Foreign Exchange today, supported by a better opening in the stock market, although dollar gains overseas restricted the appreciation of the domestic currency. The rupee had gained 16 paise to close at Rs 45.32/33 […]

Antony wants cadets to rededicate themselves

Thiruvananthapuram: Defence Minister A K Antony on Sunday urged the young cadets to rededicate themselves to the service of the nation. Young cadets should uphold the qualities like ethics, value and honesty while serving the nation, he said inaugurating the golden jubilee celebrations of Sainik School, Kazhakootam near here. "We are getting requests to open […]

109 people linked to ban Hindu rights group held in Malaysia

Kuala Lumpur: Malaysian police on Sunday arrested 109 members of a group linked to a banned Hindu rights outfit of ethnic Indians for participating in an "illegal" rally here to protest against the introduction of a controversial book in the country`s senior school curriculum. Those arrested included eight women and belonged to the Human Rights […]

Cases against 127 fishermen disposed of in Pak

Islamabad: Pakistani authorities have informed the Supreme Court that cases registered against 127 Indian fishermen have been disposed of by the Sindh High Court, paving the way for their release. A member of an inspection team of the Sindh High Court told the apex court yesterday that 13 separate cases registered against the Indian fishermen […]

LIC exam paper leaked: one arrested, 4 in dock

New Delhi: The question paper of an all-India examination for the post of Assistant Administrative Officer of LIC was on Sunday leaked in the city ahead of the test following which police arrested a youth who allegedly sold the papers for Rs five lakh each. Four candidates, who allegedly bought the question papers for the […]

Sonu against TRP-driven music reality shows

Mumbai: Playback singer Sonu Nigam, who returns as a judge for music reality show after a gap of six years, was initially apprehensive about his upcoming show `X-Factor`, as he does not believe in manipulating reactions and situations to garner TRPs. "I was apprehensive about the show because I don`t trust music shows. They came […]

Maha govt to help students pursuing weather sciences

Nagpur: Maharashtra government will provide assistance to the engineering students willing to pursue higher studies and do research in weather sciences abroad. Colleges and universities should encourage students to take up higher studies and research in the field of earth science, atmospheric science and weather in the wake of global warming, Chief Minister Prithviraj Chavan […]

On last mission, Discovery docks with ISS

(image) Houston: NASA`s space shuttle Discovery has docked with the International Space Station on its final visit before hanging up its wings for good at a museum. The space shuttle along with six astronauts docked with the space station as both spacecraft flew 354 kms above western Australia. The crew`s arrival marked the end of […]

Volvo develops smart car to save lives

London: Swedish car manufacturer Volvo has developed a new pedestrian detection system which it says can bring a car to a halt automatically whenever someone steps out in front of it. The "support function", which works by using radar and camera technology to watch out for vehicles and pedestrians ahead of the car, is designed […]