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Budget should provide augmented fiscal deficit data:RBI report
The government needs to provide an augmented fiscal deficit data in the budget to reflect the burden of off-budget items, including oil and fertiliser bonds on the exchequer, suggested a RBI Committee.

Embarrassing code
That the new direct taxes code is proving embarrassing for the government is obvious, it’s just that one didn’t realise the government felt the same way as well. At one point the code says, “A business shall be distinct and separate from another business if there is no interlacing, inter-dependence or unity ‘embarrassing’ the two businesses.” Now that’s embarrassing.

News of the day

150 entrepreneurs took part in mentoring camps organised by TiE
More than 150 entrepreneurs participated in business guidance and mentoring camp at Ludhiana organised by Punjab Infotech in association with TiE Punjab & Chandigarh for MSMEs. The campaign aims to take mentoring – TiE’s key value proposition and core philosophy – to Tier 2 cities across India and help entrepreneurs realize their dreams and is a part of TiE’s Pan-India campaign called "Enterprising India – Changing the nation. Leading the World".
Corporate

BMC to regularise water connections to pre-2000 slums

Municipal Corporation of Greater Mumbai (MCGM) would regularise water connections to slums in the city that came up before 2000. The decision comes in the wake of an announcement made by Chief Minister Ashok Chavan to regularise water connections to pre-2000 slums. - Concern in RS over Indian agencies not allowed to quiz Headley - On-line bookings highest with travellers from Mumbai airport - Headley cooperating with FBI to avoid death penalty - We need ideas to make business feel secure - Lawyers file plea seeking acquittal of 26/11 suspects - Too premature to comment on extradition of Headley: US "Water will be supplied to all slums that have come up prior to 2000. We will soon compile a report on the issue within few days and table it before the state government," Municipal Commissioner Swadhin Kshatriya said. Dharavi and the slums on airport land are the only two settlements to be regularised by the state. "As CM has said that slums at Dharavi and on the airport land, that cropped up before January 2000, be regularised. In this regard the MCGM will have to regularise water connection to them," Kshatriya said. Currently, the city is reeling under acute water crises due to insufficient water in lakes that have a large share in meeting the water needs of it. The residential and commercial users are facing 15 and 30 per cent water cut respectively. According to civic officials, 3.86 lakh shanties sprang up in the city between 1995 to 2000 with a population of 7.5 lakh residing in them.


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