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MP govt may raise upper slab of VAT
Stung by the Centre’s indication to compensate half of what was promised as full compensation against phasing out of Central Sales Tax (CST), the Madhya Pradesh government may increase the upper slab of value added tax to 15 per cent from the existing 12.5 per cent before goods and service tax (GST) comes into effect.

Nifty expected to lose its support of 5,200
The benchmark indices rose for the second straight day today with S&P CNX Nifty closing at a 22-month high of 5,278. Nifty January futures closed at a premium to the spot and added 1.05 million shares in open interest through buy-side trades, indicating fresh long build-up. However, the Nifty remained range-bound after opening at higher levels.

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Harley-Davidson to launch 12 motorbikes in India
Iconic US motorcycle maker Harley-Davidson today said it will bring 12 motorcycles in the Indian market priced between Rs 6.95 lakh and Rs 34.95 lakh (ex-showroom New Delhi).
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Plan panel okays Rs 300 crore Rukura irrigation project

The Planning Commission has approved the Rs 300 crore Rukura medium irrigation project (MIP) in Sundergarh district of Orissa. - Disappointing show - Larsen & Toubro: Disappointing results - Add debt for portfolio stability - Investing: Hemant Rustagi - Glenmark subsidiary gets nod for Boehringer Ingelheim's drug - Missing Rajagopal resurfaces at NIMS It will be implemented under the Accelerated Irrigation Benefit Programme (AIBP) launched in 1996-97. About 5700 hecatres of farm land is targeted to be irrigated by the project. “The land acquisition work is under progress and the project is targeted to be completed by 2014”, Suresh Chandra Mohapatra, secretary, water resources department, told Business Standard. Sources said, the tender work for the project and the construction of the model colony are in progress. Simultaneously, the rehabilitation and resettlement work is in advanced stages of completion. Orissa targets to irrigate about 5.6 lakh hectares in the next 5 years at an investment of Rs 10,000 crore. Apart from the major irrigation projects, the plan puts emphasis on the development of medium and minor irrigation projects, pani panchayat, flood control, drainage in waterlogged areas and coastal security. The aim is to provide irrigation facility to at least 35 per cent of cultivable land in every block in the next two years. On the other hand, irrigation facilities are expected to be available from the Rengali Left Canal by June, 2010. Besides, the Subarnarekha Irrigation Project will cater to the needs of farmers in Mayurbhanj district by June this year. Steps are being taken to complete the work on Titlagarh, Rengali, Subarnarekha, Hadua, Mahendratanaya, Bhaghalati, Manjore, Birupa- Genguti, Telengir, Kunpur, Ret and Chheligarh irrigation projects and Bagh barrage in the next five years. Other irrigation projects like Aung, Brutang, Korashani, Lamtara, Samakoi, Indravati barrage and Upper Udanti projects will also be launched during the period.


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