- I have come up with a Quiz Contest for all of you. The prize for winning the contest is Rs. 1000/-. See the full details about taking part in it and all other details here. I hope all of you will participate in it in large numbers and make it a success.
- Take a look at what I felt is worthy of our noting regarding the attack on Taslima Nusreen in
recently. Follow this link. Hyderabad
- Managing the forex inflows
- With a view to managing the surging foreign currency into the country, the government is toying with the idea of allowing local investors to utilize the $100,000 limit under the liberal remittance scheme to invest in equities abroad through mutual funds.
- Earlier, under this scheme individuals could invest in fixed income investment products such as deposits, property and also in stocks.
- One more policy initiative that is worth remembering in this context is the limit of $2 bn for overseas investment by mutual funds operating in
- What are functional foods?
- These are any food or food components that may provide health benefits in addition to basic nutrition.
- The functional food industry can be broken down into four major areas: functional beverages and teas, fortified cereals and breads, soya foods, functional snacks and candies, and miscellaneous foods.
sub-prime woes and the after-effects: US
- It is by now clear that the
sub-prime mess is going to have a substantial global impact. Now analysts and experts are being candid about its negative impact on a global scale. Many view points are floating around. It is a must to stay informed of this developing story. So let’s do that… US
- In the column ‘Monday Mocha’ Rajrishi Singhal gives a beautiful account of the sub-prime epidemic. This can be an excellent beginning read for anybody not having a clue as to what this whole problem is about. Take a look at it here.
- Read today’s ET editorial here. It gets louder about the possibility of the problem posing systemic risks.
- You have one more excellent article written in today’s ET centre page by UR Bhat. Take a look at it here.
- Those of you who are keen in knowing more about it and who can digest some of the high-funda stuff that can be dolled out by experts, are recommended to take a look at Ruchir Sharma’s “The End of Risk As We Knew It”. An excellent read.
- When is capital gains tax attracted on agricultural land sale?
- Only when agricultural land is situated within 8 km from the local limit of any municipality or corporation. If it is beyond this 8 km limit, no capital gains tax is attracted. This is because of the exclusion conferred on it by Section 2 of the Incometax Act.
- The government is thinking of increasing this 8 km limit to bring under the tax net some of the huge transactions that are being carried out by the realtors in this space.
- Rainfall gives comfort
- Due to good rains so far, water levels in all 76 reservoirs have increased to 24% to 78.65 bn cubic meters from the year-ago levels.
- This is a good sign for the economy.
- Housing shortage in
- According to a report by the NSSO (National Sample Survey Organization), one out of every seven urban households in
today live in slums. About 8 mn households live in slums now. India
- According to data provided by the National Buildings Organization, aggregate housing shortage in the country has increased by 134% during the last six years from 10.56 mn units in 2001 to 24.71 mn units in 2007.
- One more fact about Anil Kumble’s record century
- He is the first player with over 500 test wickets to score a century.
- Credit card losses
- Banks are witnessing high losses in credit cards business. They are seeing a default of 12% in their credit card portfolio.
- How will Basel II norms impact credit to SSI units?
- SSI units’ loans are not rated. Under the Basel II norms, banks would be discouraged to lend to SSIs because a loan to an unrated entity will attract 100% risk weightage. That would mean more capital norm for the bank.
- At present SSIs account for 95% of the total industrial units in the country, 40% of the industrial production and 35% of exports. But they receive only 10% of bank credit.