- Government hiked the Import duty on sugar to 40% from 25% and removed the excise levy on ethanol.
- Government approved a policy that gives permit to companies to tap gas finds. The policy approved by the Cabinet Committee on Economic Affairs, gives the companies an option to either develop the finds on their own risk or perform DGH- prescribed conformity test before developing them and recoup the entire cost. Reliance and ONGC to benefit.
- Reliance power walked out of the Rs.36,000/- crore Tilaiya ultra mega power project in Jharkhand citing inordinate delay in land acquisitions. NTPC shows interest to come on board.
- Corporate tax due, under direct and indirect taxes, at the end of 2014-15 is Rs. 5 lakh Cr.
- Indian Oil Corporation has started processing crude at its Paradip refinery and will fully commission its 15-million-tonne unit over the next six to eight months.
- World Bank has projected India’s GDP to expand to 7.5 per cent in the current fiscal on account of increased economic activity and greater stability.
- French IT services company Capgemini to buy IGATE corp. (a US- based company) for $4 billion in cash to create an entity with combined revenue of $14 billion to on rivals such as IBM.
- FDI jumped about 63% to $3.28 billion (about Rs. 20,820 Cr /-) in February 2015.
- Finance Ministry is looking at the possibility of merging at least 5 state-run banks.
- Asian Development Bank to provide loan worth $2billion to construct or upgrade over 31000km of rural roads in 5 states to lend support to Prime Minister’s Gram Sadak Yojana.
- Bank of Baroda has a tie up with the UAE Exchange to offer an instant cash transfer facility to NRI customers.
- RBI has included advances made to small and medium farmers under priority sector lending. Small and marginal farmers constitute more than 80% of the agrarian households in the country.
- BSNL announced a revival scheme for the landline connection. According to this scheme users will be able to make calls free of cost to any operator from 9pm to 7am. The scheme effective from 1st May, 2015.
- Gurgaon based restaurant discovery platform Zomato acquired US-based online table reservation platform NexTable.
- CCI (Competition Commission of India) will investigate the possibility of cartelization in coal block auction.
- The government, in an attempt to boost domestic oil and gas exploration, has decided to exempt state owned ONGC and Oil India from paying for LPG subsidies in the current fiscal.
- Rishad Premji (son of Azim Premji) appointed to the Wipro board.
- Japanese drug maker Daiichi Sankya will sell part of or all of its holding in Sun Pharmaceutical holdings it received from merger of Ranbaxy.
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