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).
The UPA government today cleared the introduction of State Bank of India (Amendment) Bill in the current session of Parliament. The Bill seeks to bring the government’s holding in the country’s largest public sector bank on a par with other public sector banks at 51 per cent. Currently, the Union government holds 59 per cent stake in the SBI.
The Dubai government said today neighbour Abu Dhabi has agreed to give $10 billion in emergency funds that will go toward paying debts owed by its Dubai World conglomerate.