Private power firms likely to get tax holiday extension

A Committee of Secretaries (CoS) set up to iron out bottlenecks impeding the growth of independent power producers (IPPs), is understood to have favoured continuing the tax holiday to the sector, besides relaxing the Withholding Tax on external commercial borrowings by them. In its last meeting on February 22, the CoS chaired by Principal Secretary to the Prime Minister’s Office (PMO) Pulok Chatterji, gave a patient hearing to independent power producers on various issues affecting their growth.   The electricity generators have also told the PMO that they are looking forward to the inclusion of power in the negative list of service...

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G-secs decline while call rate eases

The government securities (G-Sec) declined on fresh selling pressure from banks and corporates while call rates eased at the overnight money market here today due to lack of demand from borrowing banks. The 8.79 per cent (G-Sec) maturing in 2021 moved down further to Rs 103.05 from Rs 103.2250 yesterday, while its yield edged up to 8.32 per cent from 8.30 per cent.   The 9.15 per cent (G-Sec) maturing in 2024 dropped to Rs 106.17 from Rs 106.24, while its yield inched up to 8.35 per cent from 8.34 per cent. The 8.19 per cent (G-Sec) maturing in 2020 fell to Rs 99.04 from Rs 99.17, while its yield looked up to 8.36 per cent from...

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Survey: India top economy, income poor

  India has become the fourth largest economy in the world due to a strong economic growth but still has a low per capita income, the Economic Survey revealed today. "India has emerged as the fourth largest economy globally with a high growth rate and has improved its global ranking in terms of per capita income. Yet, the fact remains that its per capita income continues to be quite low," it said. "India has moved up the ranks, but is still the poorest among the G-20," the survey added. The per capita income of India stood at USD 1,527 in 2011, it said.   "This is perhaps the most visible challenge. Nevertheless, India has...

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