UIDAI has split the overall project into small ones and handed them over to multiple vendors to speed up work.
With less than a year left for the scheduled introduction of the Goods and Services Tax (GST), most states have increased their VAT (value-added tax) rates. The move is seen as an attempt to extract better compensation from the Centre for loss on account of GST rollout
Denying rumour that it might be using its office premises to compromise crucial Indian data by planting spyware, Chinese telecom equipment maker Huawei has maintained it was ready to cooperate with the government to have its facility inspected.
The annual Finance Bill may soon become far less exciting as the government plans to lift the veil of secrecy surrounding tax proposals in Budget. Once the Direct Taxes Code (DTC) and Goods and Services Tax (GST) are in place, the finance ministry will adopt a public discussion approach for most future decisions, while confining the annual exercise to a few procedural changes.
Infosys, India's second largest information technology services company, which had seen some top-level attrition last year, has both embarked on a leadership development programme and trying to ensure those targetted are contented with their compensation.
The Indian scientific and research community is keenly watching the battle between arch-rivals and global chipmakers, Intel and AMD, as they launch their high-end server processors which are the lifeblood of high-performance computers.
The Union finance ministry may have to battle it out in court with the sponsors of the Indian Premier League cricket tournament to make them comply with its service tax payment demands.
The project, in its entirety, is estimated to be about Rs 2,000 crore (Rs 20 billion).
With recent issues from state-run companies receiving lukewarm response from the markets, the government has downscaled its divestment programme this year, restricting it to a maximum of eight companies.
When mid-size information technology (IT) services company MindTree acquired Aztecsoft in May 2008, many believed this would herald a trend in Indian IT, in terms of consolidation of small and mid-sized firms to enable them to viably compete with bigger ones.
After failing to convince states to keep petroleum products within the ambit of the proposed goods and services tax (GST), the Centre has finally relented. It has agreed to the proposal of the empowered committee of state finance ministers to keep petroleum products like crude, motor spirit, aviation turbine fuel (ATF) and high-speed diesel out of GST.
S (Kris) Gopalakrishnan speaks on the outlook for Infosys and the sector.
A senior official in the finance ministry said the Central Board of Direct Taxes addressed the nine areas of concern in the Code identified by Finance Minister Pranab Mukherjee.
Intel Capital, IBM, SAP Venture, Qualcomm Ventures increase India focus. July Systems, which developed a mobile broadband platform, has just received funding from Intel Capital.
The government has taken the first concrete step towards the introduction of the goods and services tax.
Tiger Global Management, a New York-based investment company with close to $2 billion in assets under management, has shut its direct operations in India.
The levy had to come into effect from April 1. It would now be in force from July 1.
Discounts for retail investors may become a part of the government's disinvestment policy, instead of being offered on a case-to-case basis. The discount offered could be up to 10 per cent of the issue price.
The government got Rs 9,930 crore from its follow-on offer of NMDC shares, leaving it short by Rs 1,448 crore for its year's disinvestment target of Rs 25,000 crore. In addition, it got about Rs 2.5 crore by way of interest income on the issue money from banks.
Indian IT companies are equally jubilant. That's because the Bill, which proposes to create Electronic Health Records (EHRs) for all Americans by 2014, is expected to open up a $20 billion market opportunity for Indian IT services firms like Infosys, Wipro, TCS, Firstsource and MindTree.
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