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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.

Stock mkt turnover at record Rs 1.52 lakh cr
The combined cash and futures market turnover today touched a record high of over Rs 1.52 lakh crore at the end of trade, soaring by 19 per cent over the previous session even as Sensex fell below the 17,000-level.

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Huawei sets eye on three ITI factories
Government’s security concerns about Chinese equipment makers not a deterrent.
Corporate

Large-scale faculty positions in IITs, IIMs

Centrally-funded technical Institutions, including IITs and IIMs, are suffering due to about 25 per cent shortage of faculty, the Lok Sabha was told today. - Placements begin at IITs - CAT day 4 sees less turmoil - IIMs, Prometric blame virus for CAT glitches - IIM-A submits report on CAT, test still disrupted on 4th day - Govt seeks report on CAT fiasco - Mouse has eaten the CAT, laments Sushma">Mouse has eaten the CAT, laments Sushma The vacancy has arisen due to retirement and resignations in these top institutes, HRD Minister Kapil Sibal said in a written reply. Giving details of the vacancies, he said the faculty position in the IITs stands at 2,983 against the sanctioned strength of 4,267. Similarly, there are 388 faculty members against the sanctioned strength of 468 in the IIMs. The situation is no different in National Institutes of Technology (NITs) where the faculty position stands at 2603 against the sanctioned strength of 3747. The scenario is critical in Indian Institute of Science, Bangalore where there are only 210 faculty members while the sanctioned strength is 478. The vacancy is over 50 per cent in Schools of Planning and Architecture. Against the sanctioned positions for 127 teachers, there are only 62 faculty members in these institutes. There are 54 vacant posts in Indian School of Mines which has sanctioned strength for 192 faculty members. The recent pay revision of teachers of these institutes will help in attracting and retaining teachers in these institutes, he said.


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