Chief correspondent, India
Ross's Feed
Jun 28, 2012

India to post clarifications on controversial GAAR taxes

NEW DELHI, June 28 (Reuters) – India will publish on
Thursday clarifications on a set of rules targeting tax evasion
that sparked an outcry among foreign investors at a time that
the country needs capital inflows, a government official said.

Finance Secretary R.S. Gujral told reporters the draft rules
to be posted on Thursday would cover the general anti-avoidance
rules, which target companies and investors that route
investments through tax havens such as Mauritius.

Jun 28, 2012

PM to clarify tax policy within 2-3 weeks – official

NEW DELHI (Reuters) – Prime Minister Manmohan Singh will seek within the next two to three weeks to clear up confusion over tax policy that has rattled investor confidence in Asia’s third-largest economy, a government official said on Thursday.

Singh plans to issue an “explanatory note” on portfolio investments, an official in his office told Reuters, without giving details about what the statement would say or which tax issues it would address.

Jun 28, 2012

Indian PM to clarify tax policy within 2-3 weeks-official

NEW DELHI, June 28 (Reuters) – Indian Prime Minister
Manmohan Singh will seek within the next two to three weeks to
clear up confusion over tax policy that has rattled investor
confidence in Asia’s third-largest economy, a government
official said on Thursday.

Singh plans to issue an “explanatory note” on portfolio
investments, an official in his office told Reuters, without
giving details about what the statement would say or which tax
issues it would address.

Jun 26, 2012

Alleged Mumbai plotter was planning new attack: police

NEW DELHI (Reuters) – An alleged key plotter in the 2008 Mumbai attacks now in Indian police custody had been living in Saudi Arabia for two years and was “talent-spotting” for another “massive attack”, an Indian police official said on Tuesday.

Sayeed Zabiuddin Ansari, also known as Abu Hamza and Abu Jindal, was arrested at Delhi airport on June 21 on his arrival from Saudi Arabia. Police revealed his arrest only on Monday, after interrogating him for five days about the three-day rampage in the financial hub of Mumbai that killed 166 people.

Jun 25, 2012

India poised to revive retail reform plan

NEW DELHI (Reuters) – Prime Minister Manmohan Singh was overseas and his outgoing finance minister was clearing his desk last week as the government quietly began preparing the ground for a new push to open up India’s $450 billion retail sector to foreign firms.

Investors and business leaders clamouring for reform may be sceptical that the bold measure, shelved in December after a political uproar, will finally be implemented.

Jun 24, 2012

Analysis: India poised to revive retail reform plan

NEW DELHI (Reuters) – Indian Prime Minister Manmohan Singh was overseas and his outgoing finance minister was clearing his desk last week as the government quietly began preparing the ground for a new push to open up India’s $450 billion retail sector to foreign firms.

Investors and business leaders clamoring for reform may be skeptical that the bold measure, shelved in December after a political uproar, will finally be implemented.

Jun 15, 2012

Newsmaker: The man who would be prime minister set to become India’s new president

NEW DELHI (Reuters) – By all accounts, ruling Congress Party leader Sonia Gandhi does not trust the man she nominated on Friday to become the next president of India, Pranab Mukherjee. But with her party facing tough elections due by 2014 he may be her ace in the hole.

Until now, India’s president has been viewed as a ceremonial head of state. But with the next elections widely expected to produce a fragmented parliament with no clear winner, Mukherjee, a loyal Congress man, will play a key role in deciding which party takes the lead in forming a new government.

Jun 15, 2012

The man who would be PM set to become India’s new president

NEW DELHI (Reuters) – By all accounts, Congress Party leader Sonia Gandhi does not trust the man she nominated on Friday to become the next president of India, Pranab Mukherjee. But with her party facing tough elections due by 2014 he may be her ace in the hole.

Until now, India’s president has been viewed as a ceremonial head of state. But with the next elections widely expected to produce a fragmented parliament with no clear winner, Mukherjee, a loyal Congress man, will play a key role in deciding which party takes the lead in forming a new government.

Jun 14, 2012

India PM on defensive as economy hit by more bad news

NEW DELHI (Reuters) – India’s ruling Congress party was in turmoil on Thursday after two key allies signaled they had lost confidence in Prime Minister Manmohan Singh, whose fragile coalition government has struggled to cope with mounting economic problems.

The party was forced to spring to the prime minister’s defense, insisting he would remain in his post until general elections due by 2014, after the allies suggested he should be considered for the largely ceremonial position of president.

Jun 14, 2012

PM on defensive as more bad news hits economy

NEW DELHI (Reuters) – The ruling Congress party was in turmoil on Thursday after two key allies signalled they had lost confidence in Prime Minister Manmohan Singh, whose fragile coalition government has struggled to cope with mounting economic problems.

The party was forced to spring to the prime minister’s defence, insisting he would remain in his post until general elections due by 2014, after the allies suggested he should be considered for the largely ceremonial position of president.