Around the Globe

Around the Globe

Document-shredding by Indian drug firms raises FDA eyebrows

One Indian pharmaceutical firm’s nighttime document-shredding and potential manufacturing lapses at two others since December are reigniting concerns that, despite recent efforts, the country’s generic-drug industry still has a way to go to gain the trust of US regulators.

BJP’s divided house in Goa seeks Parrikar as saviour

Manohar Parrikar might have been handling the high profile defence portfolio, but he hasn’t lost sight of his home politics. He is often criticised for spending more time in Goa, than in Delhi. But the BJP leadership is unfazed and PM Narendra Modi has publicly hailed Parrikar for his leadership skills.

Naidu-led CM panel moots tax on Rs 50,000 cash withdrawal

A high-level panel on Tuesday recommended a slew of measures to promote digital payments in its interim report, including levy of tax on withdrawal of Rs 50,000 and above from banks.
The committee of chief ministers on digital payments, led by Andhra Pradesh’s Chandrababu Naidu, has also recommended abolition of merchant discount rate (MDR) to make digital payments cheaper than cash.

Need Constitutional amendment, more resources for simultaneous polls: CEC

Holding simultaneous polls to Lok Sabha and state Assemblies will require Constitutional amendment and additional resources, Chief Election Commissioner Nasim Zaidi today said.

The CEC said the Commission's view has already been conveyed to the Law Ministry as well as a parliamentary panel that such a proposal requires amendments in the Constitution through a process of "political consensus".

"The Commission, with certain additional resources, can undertake the exercise of (holding) simultaneous elections in future. But there are two pre-conditions.

Donations of electoral trusts not personal info: CIC

Details of donation received by electoral trusts and their further distribution to political parties are neither personal information nor held by Income Tax Department in fiduciary capacity, the CIC has said in an order aimed at ensuring transparency in electoral funding.

The Central Information Commission (CIC) has directed the I-T Department to make public the list of electoral trusts formed during 10 years since 2003-04 and whether they received income tax exemptions.

Akhilesh patronising the corrupt, criminals: BJP

BJP UP President Keshav Prasad Maurya today accused Chief Minister Akhilesh Yadav of "patronising the corrupt and the criminals".

Referring to a report released by Governor Ram Naik, Maurya said it smacked of the Samajwadi Party government's "complicity" with criminals and the corrupt.

He said the Governor's report drew attention to the fact that only 2 out of 53 petitions sent by Lokayukt were responded to.

Sebi pitches for tax rationalisation in capital markets

Ahead of the Union Budget, markets regulator Sebi has asked the government to consider rationalisation of taxes in capital markets including that of mutual funds and other products.

In its budget proposal to the Finance Ministry, Sebi has recommended reducing the securities transaction tax (STT) on stock trading, sources said.

Presently, all stock market transactions attract STT in the range of 0.017 to 0.125 per cent.

It has also suggested lowering the period of holding in respect of long term debt fund units to 12 months from 36 months.

OYO launches Townhouse; eyes 250 properties in 12 cities by 2017

Online budget network of hotels OYO today announced the launch of Townhouse, which is positioned as a friendly neighbourhood hotel, and is eyeing 250 properties in 12 cities by end of this year.

"Townhouse will operate as a hotel, community hotspot, cafe and merchandise store – to deliver an all-encompassing experience to guests. We are excited to showcase and deliver this proposition today," OYO Founder and CEO Ritesh Agarwal said in a release issued here.