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Govt may defer stake sale fund
Facing a fiscal deficit of 6.8 per cent of Gross Domestic Product for the current financial year, the government is likely to delay for a year or two the National Investment Fund (NIF), a move that will enable it to keep disinvestment proceeds in the Consolidated Fund of India (CFI).

Tarun Das: Engineering a confederation
More than lobbying for concessions, CII strove to be an instrument of change.

News of the day

National Tax Tribunal is a distant reality
In the words of our present Chief Justice of India,“….. the citizens’ faith in the judicial system will begin to wane because justice delayed is justice forgotten, excluded and finally discharged “ The quote certainly does not auger well if one were to look at pendency of tax cases in different layers of our judicial hierarchy – 28,000 cases in high courts with disposal rate of roughly 6000 each year. Ironically, the situation is worse in Mumbai, Delhi, Kolkata & Chennai where the wait time ranges between 10-15 years. Not to forget the figure of 2 lac crores often debated in the Parliament as arrears of tax in dispute. These could be more staggering in the future.
Small Business

Karna CM holds talks with dissident MLAs

Karnataka Chief Minister B S Yeddyurappa, who is facing fresh bout of dissidence from his party legislators demanding ouster of recently inducted minister M P Renukacharya, today held talks with a four-member dissident group to defuse the crisis. - "I have committed several mistakes" - Karnataka may seek compensation for big farmers - Karnataka aims to cut T&D losses by 35% - Yeddyurappa expands team; inducts rebel - Newsmaker: Sushma Swaraj">Newsmaker: Sushma Swaraj - Take-off troubles The meeting held at his residence lasted about an hour and was attended by MLAs, Appachhur Ranjan, C T Ravi, Narayanaswamy and A Ramdas. The talks were held in the wake of a section of MLAs under the leadership of Appachur Ranjan threatening to boycott the Speaker"s election slated for tomorrow if their demands were not met. Ranjan told reporters "we have placed our demands before the Chief Minister. There are no major or personal demands. We want Renukacharya to be dropped in the interest of maintaining the good image of the party". He said the Chief Minister has assured them that he would consider their demands and discuss it at the legislature party meeting to be held this evening to resolve the crisis. Refusing to be drawn into discussion on the talks he had with rebels, Yeddyurappa said all the issues would be debated at the legislature party meeting. The induction of Renukacharya on December 24 into the Ministry evoked protests from a section of ruling BJP legislators.


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