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India will launch its first space mission to Mars in 2013, President Pranab Mukherjee said on Thursday.
Fearing oil companies will be hit hard by the finance ministry's move to cut subsidises by changing pricing of petrol and diesel, oil minister M Veerappa Moily has asked finance minister P Chidambaram to refer the issue to an expert committee.
Cargo traffic at ports during the six-month period ended September 2012 grew by just 1.8% to 455.8 million tonnes due to decline in shipments handled at major ports, Economic Survey said today.
Indian companies raised a total of Rs. 2.81 lakh crore in fresh capital from equity and debt markets in the April-December period of 2012.
India's unemployment numbers could shoot up to four times of the current levels by 2020, with up to 12 million jobless, unless it implements key economic reforms and reshapes its education system to meet industry needs, the Economic Survey has warned. HT reports.
State-owned Air India (AI) is likely to post an operating profit in 2012-13 - the first time since its merger in 2007. HT reports.
Calling for a high level of investment in infrastructure, the Economic Survey for 2012-13 cited bottlenecks in the sector as one of the main reasons for subdued industrial performance in the country. HT reports.
Industrial growth, particularly manufacturing, and services segments, would be critical for India to get back on the high-growth path, the survey said. The revival of these two sectors would also be key for job creation, it added. HT reports.
Over the last five years, India has lost 10% share of the world's BPO (business process outsourcing) market to countries such as China, Philippines and Brazil, the survey said. The survey's observation has raised concerns for the $20-billion (Rs 1-lakh crore) domestic BPO industry. HT
India will spend 1.79% of its GDP on defence this fiscal, at a time when experts are arguing it should be more than 3%, seen against the backdrop of China's rising military might.
If you are in the market for a sports utility vehicle, get ready to dig deep into your pockets. The government on Thursday increased the excise duty on sports utility vehicles from 27% to 30%, which will mean a price rise ranging from Rs.
15,000 for a no-frills Mahindra Bolero, to up to Rs.
75,000 for a Toyota Fortuner. HT
Finance minister P Chidambaram today proposed tax incentives to increase shipments of labour-intensive sectors such as leather, much to the cheer of exporters.
Often ignored by politicians, the urban poor and middle class got a little more attention and funding from finance minister P Chidambaram in the 2013-14 budget.
Finance minister Palaniappan Chidambaram's 2013-14 budget speech would perhaps best be remembered for mentioning "women" 24 times throughout his entire 95 minute presentation.
The Rashtriya Swasthiya Bima Yojana, the government's flagship aam-admi health insurance scheme would be extended to benefit the rickshaw, auto-rickshaw and taxi drivers, sanitation workers, rag pickers and mine workers.