Other Briefings
India Cuts Tax Relief on Commercial Rentals
Apr. 24 – The Delhi High Court has announced that it would abolish service tax on commercial rentals, cutting central government earnings by Rs 8,000 crore annually. The regulation will help realtors, specially companies like retailers and call centers. Ernst & Young associate director Bipin Sapra told The Economic Times: “The high court order is […]
Inflation Rate Rises by 0.26 Percent
Apr. 23 – India’s Ministry of Commerce and Industry reported that inflation rate increased by 0.26 percent in the week ended April 11. A week earlier inflation rate rose by 0.18 percent a week earlier. Based on five analysts asked by Dow Jones Newswires, on the other hand, inflation rate was above the 0.13 percent […]
Reserve Bank of India Cuts Rates By 25 Points
Apr. 22 – The Reserve Bank of India (RBI) cut basis points on interest rates by 25 basis points yesterday, with interest loans for homes, cars and consumer goods set to drop further. Other banks are expected to follow. The RBI also cut it’s repo rate or the rate at which it lends to other […]
Singh: 8 to 9 Percent GDP Growth by September
Apr. 21 – Indian Prime Minister Manmohan Singh announced yesterday that he expects the Indian economy to rebound and GDP growth rates to return to between 8 to 9 percent by September. Currently, the Indian economy is growing at about 6.5 percent to 7 percent. The World Bank predicts that India’s economy will slow to […]
Test Drive a Tata Nano Free Online
Apr. 20 – Tata Motors, the manufacturers of the worlds cheapest car the Nano, has teamed up with the Indian online gaming portal Zapak to provide a free online game in which a user can customize their virtual Nano, then drive it around Bombay amidst the city’s hustle and bustle. The tiny vehicle, which costs […]
Foreign Investors Snapping Up Distressed Property Deals
Apr. 17 – Foreign private equity investors are looking to snap up good deals in the Indian real estate market by buying heavily discounted properties affected by the slowing economy. Investors from the EU and Middle East are expected to invest US$400-US$500 million in distressed land deals, reports The Economic Times. Namely Spain’s Nova Capital; […]
India’s Month-long Elections Begin Today
Apr. 16 – The largest democracy in the world, with about 714 million voters, began their month-long elections today in the first of five phases. Citizens will cast their vote to decide their nation’s future from hundreds of political parties composed of politicians up for reelection and celebrities. It is expected that more young people […]
Largest Exchange to Enter Indian Market
Apr. 15 – The largest exchange in the world, the Chicago Mercantile Exchange (CME), has held talks to possibly enter the Indian market through the purchase of equity stakes in the Indian exchanges. According to the Business Standard, CME has already talked with several Indian exchanges to purchase stakes. The group is also talking to […]
