Denying that the union government was trying to curtail the powers of the Election Commission of India, the home ministry admitted that &ldquo;incidental references&rdquo; were made on the issue of the model code of conduct in the meeting of the Group of Minister (GoM) on corruption on September 30 last year.

Govt clarifies on the EC issue, BJP to oppose

Business Standard

Dr C Rangarajan, chairman, Economic Advisory Council to the Prime Minister, released the document &lsquo;Review of the Economy 2011-12&rsquo; at a Press Conference in New Delhi today.

PMEAC review of the economy: A summary

The agency has also indicated, in a recent report entitled Economic Prospects: FY12 and FY13, the likelihood of time lags between such measures and the achievement of the projected growth rates, due to the slowdown in private sector investments and the possibility that RBI would only gradually lower interest rates during the year.

PMEAC over-optimistic about FDI flows: CARE

BSE Greenex index, the new 20 share index launched today, is dominated by large cap firms from Banking, capital goods and pharma sectors.

Banks, cap goods firms dominate BSE Greenex

The central bank&rsquo;s anti-inflationary stance has hurt the country&rsquo;s economic growth, the government said on Tuesday, but it exuded confidence that the current deceleration was a temporary blip.

India has to target double-digit growth: FM

Burdened by higher power purchase cost and lower bill structure, Reliance Infrastructure, which has controlling stake in three power distributing companies (discom) in Orissa, has suggested that the government should provide subsidy if it wants to provide cheap power to people.

Govt must provide subsidy for cheap power, says Reliance Infra

The State Cabinet has approved the revision in base VAT (Value Added Tax) rate from existing four per cent to five per cent, a move that is expected to generate Rs 400 crore additional revenue annually.

Cabinet okays hike in base VAT rate to 5%

Muthoot Capital Services Ltd (MCSL), a Non Banking Finance Company (NBFC) arm of Muthoot Pappachan Group focusing on automobile financing, is planning to infuse around Rs 700 crore, by end of fiscal 2012-13, targeting a total Asset Under Management (AUM) of around Rs 1,000 crore by the time. As part of this, the company is expecting to expand its operations to four more states during the period along with expansion of product offerings.

Muthoot targets Rs 1,000 cr AUM

Earlier, the department had called KJS Ahluwalia for personal hearing in connection with this statutory violation.

R P Sao called for personal hearing over Rule-37 violation

Orissa's GDP (Gross Domestic Product) is set to grow at the rate of 8.22 per cent in real terms during the 11th Plan Period (2007-12).

Orissa's GDP grows at over 8% in 11th Plan

The Aditya Birla Group company, Idea Cellular, on Tuesday filed a clarificatory application in the Supreme Court, over the cancellation of its telecom licences.

Idea moves SC, seeks clarification on licence cancellation

The contract comprises REpower's best-selling turbines &ndash; the MM82 and MM92 &ndash; with a nominal power of 2 Mw, and the new REpower 3.4M104, 3.2M114 with 3.4 and 3.2 Mw rated power respectively.

Suzlon signs contract with Maia Eolis

Rating agency Fitch on Tuesday downgraded Dhanlaxmi Bank's subordinated debt (Rs 17 crore) to 'BBB-' from 'BBB' as the old-generation private lender posted a net loss in the third quarter.

Fitch cuts Dhanlaxmi Bank rating

Pune-based supplier of packaged gases, helium and bulk gases Matheson K-Air India Private Limited (MKI) has announced the commissioning of its second Indian Helium transfill at Bhiwadi, Rajasthan.

Matheson K-Air India commissions helium transfill in Rajasthan

Ahmedabad based Cadila Pharmaceuticals will market the entire range of medical devices of Swedish firm Bactiguard in India.

Cadila to sell Swedish firm's devices in India

Prime Minister Manmohan Singh on Tuesday held a review meeting with the Planning Commission, ahead of the start of 12th Five-Year Plan (2012-13 to 2016-17).

PM reviews progress of 12th Plan document

Former Karnataka chief minister B S Yeddyurappa, already reeling from several cases of corruption against him in state courts, looks in for more trouble. The Dharwad-based Samaj Parivartan Samudaya (SPS), a non-government organisation fighting illegal mining in Karnataka, has revealed documentary evidence against Yeddyurappa to prove that he received kickbacks from mining companies for grant of mining lease.

'Yeddyurappa family got kickbacks from miners'

Reliance Industries (RIL) will form a joint venture with Russian company SIBUR, Eastern Europe's biggest petrochemicals producer, to produce 100,000 tonne of butyl rubber per year in Jamnagar, at an investment of Rs 2,250 cr ($450 mn).

RIL form JV with Russian firm for petrochemicals

The Spices Board will make use of the proposal from the Indian Railways to run a new train to facilitate movement of agro-based products originating from Kerala to different north Indian destinations.

BS Reporter