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Frank Sieren & Andreas Sieren: A spark for growth
Frank Sieren & Andreas Sieren / July 11, 2009, 0:03 IST

Singur land not 'formally' sought: Industry minister
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.

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Shoppers Stop gets board's nod for raising funds
Fashion and lifestyle retail chain Shoppers Stop today said its board of directors has approved raising funds by allotting 40 lakh shares to qualified institutional buyers.
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FICCI seeks more sops to bolster economy

Industry body FICCI today sought more fiscal sops in the 2010-11 budget to prop up the economy. - Ficci wants tax concessions; says no to mandatory CSR - Ficci asks PM not to alter stance on climate change - RBI hints at phased end to easy money - High food inflation may prompt RBI to reduce liquidity: PMEAC - Realty may see consolidation: Ficci - India Inc wants monetary, fiscal policies to continue In a pre-budget meeting with revenue secretary P V Bhide, a Federatation of Indian Chambers of Commerce and Industry delegation asked the finance ministry to tread with caution on rolling back the stimulus measures taken to spur growth. It suggested that the Reserve Bank of India should not restrain liquidity as it would hurt the economic recovery which is still at a nascent stage. "While we are conscious of the problem of high fiscal deficit, we feel that the government can resume back to FRBM target. Once again after the economy has recovered well from the ongoing crisis," FICCI President Harsh Pati Singhania told reporters. The fiscal sops asked by Ficci include retaining the peak custom duty to 10 per cent, applying peak rate of personal income tax to an annual income of Rs 10 lakh in a year and raising income tax concessions for housing loans.


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