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Govt sets up panel to study definition of FDI, FII

Govt sets up panel to study definition of FDI, FII

The government set up a committee to examine and work out the details of the application of the principle followed internationally for defining foreign direct investment (FDI) and foreign institutional investment (FII). The finance ministry is learnt to have set up an eight-member committee under Economic Affairs Secretary Arvind Mayaram for giving clear definitions to

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Delhi govt to spend Rs 374 bn in 2013-14

Delhi govt to spend Rs 374 bn in 2013-14

Delhi Chief Minister Sheila Dikshit presented the budget for 2013-14 which pegged the overall outlay for the financial year at Rs 37,450 crore. While the state government allocated Rs 16,000 crore for plan expenditure, the total non plan expenditure has been proposed at Rs 21,000 crore

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Mauritius Unitus trims holding in SKS Microfinance

Mauritius Unitus trims holding in SKS Microfinance

In a communication to the stock exchange, Mauritius Unitus Corporation sold a part of its stake in the only-listed microfinance institution in the country SKS Microfinance. Through open market trade in the BSE and NSE, the firm sold over 1 lakh of its shares in the microfinance instit

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Delhi govt seeks more central govt funds

Delhi govt seeks more central govt funds

Delhi Chief Minister Sheila Dikshit requested the central government to increase the size of grant to the state considering its huge expenditure on development of infrastructure and implementation of schemes through the direct cash transfer scheme. She said 65 per cent of the state government's budget is allocated to social sector schemes

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IOC plans to raise stake in HPL

IOC plans to raise stake in HPL

Indian Oil Corporation (IOC) plans to raise its shareholding in the cash strapped Haldia Petrochemicals as the firm expects to reap many synergies with HPL. IOC has a big refinery in the area neighbouring HPL. Also, its pipelines are connected with HPL, Indrajit Bose, Exec

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BP withdraws from 9 blocks

BP withdraws from 9 blocks

After initial assessment, UK's BP decided to withdraw from 9 oil and gas blocks in which it bought stake from Reliance Industries (R

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