India Inc has expressed disappointment over the Reserve Bank of India's decision to keep interest rates unchanged. This, according to various industry associations, would result in huge capital inflows leading to further appreciation of the rupee.
One of India's leading industry bodies - the Associated Chambers of Commerce and Industry - on Friday urged the government to bring sugar, textiles and tobacco products under value added tax.
The new company would be named Videocon Aviation Limited and the parent firm would make an investment of Rs 100 crore (Rs 1 billion) in the Special Purpose Vehicle and rest of the funds would be generated from FIIs, public and foreign collaborators. Videocon had made a bid for the Delhi Airport as well, but it was rejected by the government as there was no airport operator in the consortium.
The Videocon group will directly acquire land from the farmers with the West Bengal government assistance for its special economic zones in the state.
A delegation of about 100 chief executive officers from several national and multi-national companies will be visiting Kashmir to explore the business possibilities in the region as well as some leisure time.
Recent investigations into the telecom spectrum and coal scams have made bureaucrats very wary of taking decisions.
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