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Inflation dips marginally but vegetable prices high
After a gap of almost two months, inflation dipped marginally to 0.7 per cent, but there was no respite for people as prices of items of common consumption, like potato and vegetables, continued to rule high.

Huge 'talent deficit' may hit India Inc: Deloitte
India Inc is likely to face a huge "talent deficit" in the coming years, as the country is not producing enough people equipped with the right skills required for the globalised environment, global consultancy Deloitte says.

News of the day

Markets soar on tax reforms, global cues
Markets surged today, boosted by government"s big bang tax reform plans and positive cues from the global markets. The government proposed to bring down corporate tax to 25%, and abolish Securities Transaction Tax (STT). Removing levy on the securities is likely to lead to higher volumes as the cost of transactions goes down.
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Govt to decide on waiving sugar export-obligation

The food and commerce ministries are at loggerheads over exempting sugar mills from export- obligation and the Cabinet will now decide whether or not the obligation can be waived beyond December 31, official sources said. - Air India board meets on turnaround plan - New Cos Bill may include corp governance norms: Khurshid - Dubai World meets creditors; no "standstill" pact yet - Govt rules out additional borrowing plan - 3G auction as per scheduled on Jan 14 - States increasingly promoting entrepreneurship: KPMG The problem arose after food ministry sought deferment of an obligation on millers to export sugar, citing imports of the sweetener to meet deficit and contain prices. However, the commerce ministry wants millers to honour the terms of the the Advance Licence Scheme (ALS), under which they are required to re-export the same quantity that was imported at zero duty. "...We (commerce) are not agreeing...It will go to the higher levels for the decision. The decision on that will be taken by the Cabinet Committee on Economic Affairs (CCEA)," an official told PTI, adding that there were some differences of opinion between the ministries of commerce and food. The issue of extending the deadline for export obligation, which expires on December 31, has been referred to the CCEA following inter-ministerial differences. The issue was earlier considered by the Empowered Group of Ministers on December 14. With the deadline for exporting refined sugar processed from imported raw sugar going to end this month, millers have been demanding that the government should extend the date further to meet their pending re-export obligations. The export obligation for mills refers to 2004-05 season (October-December), when about 21.4 lakh tonnes of sugar was imported.


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