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India Inc eyeing Sri Lanka for projects
A host of Indian companies are planning to develop projects across sectors in the island nation of Sri Lanka.

V V: The Terror Axis: Taliban, ISI & opium
Gretchen Peters’ Seeds of Terror: The Taliban, the ISI and New Opium Wars (Thomas Dunne Books, Hachette India reprint, Rs 495) tells you why Afghanistan and Pakistan’s North West Frontier provinces will always be on the boil that will spread into the Punjab and increase in intensity, as recent events have shown. Aided and abetted by rampant corruption spread by poppy growers to the Taliban and other local powers, to drug lords and their allies in government, the influence of opium money pervades Afghan life. Afghanistan today provides 93 per cent of the world’s heroin, far exceeding the combined production of Colombia, north Myanmar, Thailand and other regions of the world. Peters examines the depth of the opium problem and describes how opium sales have ballooned since 2001 and continue to grow exponentially, earning more than half a billion dollars off the opium trade. Why and what could be the consequences for us is the central question asked in the book.

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Sensex opens soft
Sensex has opened at 16,926.. - up 14 points. The index has slipped and is now down 27 points at 16,886.
Business Ideas

Insurers want exemption limit raised to Rs 1.5 lakh

Life insurers are pitching for increased exemption on investments in long-term policies. They have asked the government to consider raising the exemption limit to around Rs 1.5 lakh from Rs 1 lakh at present. - Mamata"s budget to push PPP projects - Assign limit for exempting tax under life cover: insurers - Budget likely to up outlay for market development fund - Budget may widen dividend tax break - Irda plans valuation roadmap in 15-20 days - Pvt insurers' biz premiums dipped in Apr “We want the government to increase the limit from Rs one lakh to around Rs 1.40-1.50 lakh, since investments in housing, education and mutual funds also qualify under the same limit. People will not like to invest in long-term plans when they get a similar exemption on a short-term policy. For this, we have asked to form a separate window. The limits will be increased on products with a minimum lock-in period of five years,” said S B Mathur, Secretary General, Life Insurance Council. Insurers have recommended the government to levy service tax only on fund management charge of unit-linked products. At present, while insurers pay tax on allocation and stamp duty charges, including the fund management charge, mutual funds pay service tax only on fund management charge. However, Mathur said that life insurers could never have a zero entry load as insurers have to pay 40 paise on every Rs 1,000 of income to state governments under stamp duty as per the Insurance Act 1938. Last week, mutual funds removed entry load. “As the government has allowed exempted income tax on investment in five-year fixed deposits, it should incentivise people to invest in long-term policies. We want the government to look at the tax levied on various charges on a life policy in a more rational manner,” said U S Roy, managing director and chief executive officer, SBI Life. There is a huge disparity between the life insurance industry and the mutual fund industry. Insurers pay charges on risk premium, commission to agents and fund management charges, whereas mutual funds only pay fund management charges.


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