Arup's Feed
Aug 1, 2012

Media barbs puncture Anna Hazare anti-corruption campaign

NEW DELHI (Reuters) – A renewed push by anti-corruption crusader Anna Hazare has been overshadowed by a row with the increasingly powerful media, which could weaken the veteran activist’s position as he prepares for another showdown with the government.

Hazare began another public hunger strike in New Delhi on Sunday to put pressure on Prime Minister Manmohan Singh’s government to pass a long-delayed bill to create an anti-graft ombudsman during the parliament session that starts next week.

Jul 18, 2012

Q1 indirect tax growth picks up

NEW DELHI (Reuters) – India’s indirect tax receipts grew 13.8 percent in the quarter ended June, said a senior tax official, faster than the previous quarter, due to an increase in tax rates in the budget.

Indirect tax receipts, which reflect industrial and service sector activity in the economy, grew at nearly 8 percent in the previous quarter.

Jul 18, 2012

India’s Q1 indirect tax growth picks up

NEW DELHI, July 18 (Reuters) – India’s indirect tax receipts
grew 13.8 percent in the quarter ended June, said a senior tax
official, faster than the previous quarter, due to an increase
in tax rates in the budget.

Indirect tax receipts, which reflect industrial and service
sector activity in the economy, grew at nearly 8 percent in the
previous quarter.

Jul 13, 2012

June exports fall 5.5 pct, but trade deficit narrows

NEW DELHI (Reuters) – India’s exports fell nearly 5.5 percent in June due to weak demand from Europe and the United States, a trade ministry official said, adding pressure on Asia’s third-largest economy.

Imports also fell sharply, however, thanks in part to lower global oil prices, and narrowing the trade deficit to $10.3 billion compared to the previous month, something of a silver lining that may help assuage concerns about India’s balance of payments.

Jul 13, 2012

India’s June exports fall 5.5 pct, but trade deficit narrows

NEW DELHI, July 13 (Reuters) – India’s exports fell nearly
5.5 percent in June due to weak demand from Europe and the
United States, a trade ministry official said, adding pressure
on Asia’s third-largest economy.

Imports also fell sharply, however, thanks in part to lower
global oil prices, and narrowing the trade deficit to $10.3
billion compared to the previous month, something of a silver
lining that may help assuage concerns about India’s balance of
payments.

Jul 5, 2012

India won’t cut withholding tax on govt bonds-official

NEW DELHI, July 5 (Reuters) – The Indian government has no
plan to reduce withholding tax applicable for foreign investors
buying government bonds as demand for these bonds are strong, a
senior finance ministry official said on Thursday.

Bond dealers have been expecting the government to reduce
such taxes to boost foreign fund inflows into India.

Jun 12, 2012
via India Insight

Given sub-Saharan levels of hunger, India web freedom protests seem trivial

Photo

This past weekend, hacking group and self proclaimed internet activists Anonymous held protests in 16 Indian cities, including New Delhi, Mumbai and Bangalore to raise their voices for online freedom. And by all accounts, it turned out to be a flop.

If one looks at social networks, a lot of interest was generated on this issue as people signed up and ranted on the likes of Facebook and Twitter about how the Indian government was being tyrannical and unfair about blocking some content sharing and “anti-establishment” sites following a March 29 court order.

Jun 9, 2012

India targets Swiss-based arms firm in corruption probe

NEW DELHI, June 9 (Reuters) – An Indian businessman was
charged on Saturday with attempting to bribe government
officials in connection with allegations that Swiss-based
Rheinmetall Air Defence AG paid him $530,000 to use his
influence to stop the company from being blacklisted.

Abhishek Verma and his wife were arrested on Friday after
the Central Bureau of Investigation (CBI) launched raids on 10
properties in and around New Delhi, including the home of a
former Rheinmetall representative in India. The CBI said in a
statement that it was investigating both Verma and the company.

May 31, 2012

India’s austerity measures not enough, say analysts

NEW DELHI (Reuters) – India announced a series of austerity steps on Thursday, including a 10 percent cut in non-plan expenditure for this fiscal year, which analysts said were not enough and would not have much impact on the country’s overall spending.

Asia’s third-largest economy is struggling to contain its fiscal deficit, which widened to 5.097 trillion rupees ($90.86 billion), or equivalent to 5.76 percent of its gross domestic product, in the 2011/12 fiscal year.

May 29, 2012

India allows foreign individuals to buy debt

NEW DELHI/MUMBAI, May 29 (Reuters) – India will allow
foreign retail investors to buy local corporate bonds for the
first time in its latest move to bolster capital inflows and
support the shaky rupee.

However, the $1 billion cap on investment for overseas
individuals in local corporate bonds, and the government’s
expectation that it will take six to 18 months for the measure
to have a significant impact, gave little cheer to the rupee.

    • About Arup

      "I cover India's economic policies, and the people behind them, out of New Delhi. I also write on defence matters affecting the world's largest arms importer and contribute to the political and general file. I started my career with the Reuters Bangalore bureau in 2008."
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