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Breaking the speed limit
Priyanka Joshi / New Delhi August 16, 2009, 0:46 IST

I&B bats for reduction in FBT for media firms
Reduction in the fringe benefit tax (FBT) from 20 per cent to 5 per cent for media personnel working for both print and electronic media companies was among the demands submitted to the finance ministry today by Ambika Soni, the minister for information and broadcasting (I&B).

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Markets snap four-day winning streak
The markets ended their four-day winning streak as global indices closed lower. The Sensex closed at 17,343, weaker by 57 points, and the Nifty closed flat at 5,169. The broader indices, however, outperformed the benchmark indices. The consumer durables pack was the leading sectoral gainer for the second day in a row while FMCG and metals showed weakness.
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Karnataka may seek compensation for big farmers

The Karnataka government is contemplating sending a proposal to the Centre seeking compensation for big farmers who lost their crops during the floods that ravaged parts of north Karnataka in October. - Karnataka aims to cut T&D losses by 35% - Karnataka keen to up PPPs for upcoming projects - Jaimini Bhagwati: Bonus Excesses and Outrage">Jaimini Bhagwati: Bonus Excesses and Outrage - Wall Street fat cats see frugal compensation diet in "09 - Goldman"s stock bonus plan to ward off criticism - Banks to pay compensation for wrong payment: SC As per existing provisions, only small farmers were eligible for the compensation, state minor irrigation minister Govind Karjol told reporters here today. On flood rehabilitation projects, he said the site formation work of 36 villages had been completed and the house construction work entrusted to agencies would begin tomorrow. Site formation work in the remaining six villages would be completed soon, he said. Referring to the tank filling project undertaken in Bijapur and Bagalkot districts, Karjol said that the work would be completed within stipulated time. Rs 108 crore had been earmarked for the first phase of work under progress, he said adding Rs 166 crore for the second phase was still awaiting approval. Survey work for the third phase had been completed. He dismissed speculations about instability of the state government and said it would complete its tenure.


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