The Financial Express -- Economy

Saturday, July 5 1997

Chidambaram asks states to adopt VAT

The Union finance minister P Chidambaram yesterday asked states to speedily move over towards value added tax (VAT) system as the present sales tax and stamp duty regime was creating economic distortions besides hindering smooth flow of business.

State identifies projects worth Rs 25,000 cr

The Maharashtra government has identified developmental projects worth Rs 25,000 crore, including four express highways costing over Rs 12,000 crore, the state public and works minister Nitin Gadhkari said.

Customs & excise department plans restructuring

The Customs & Central Excise Department is proposing to upgrade/create 28 posts of the grades of Commissioners, while surrendering an equal number of posts, with the objective of maintaining the same cadre strength. While the field posts in the senior time-scale grade will be kept intact, a few posts in the headquarters have been identified for surrendering.

Gains from oil exploration for Hitech Drilling

State-run banks post Rs 3,008-crore net profits

DoT, basic operators reach pact on interconnect charges

State to invite private sector to give city a facelift

Industry reacts negatively to proposed Companies Bill

Small fight for burning their candles as big regale in light

Tokyo bonds close higher

Private airlines may be allowed to ply to foreign destination

Bids for IA 50-seater plane deal placed

IDFC to provide inputs for infrastructure policies

Cubic unsure of meeting fiscal estimates

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