The Financial Express -- Economy

Saturday, December 13 1997

Protocol signed with Russia to boost bilateral trade

India and Russia have agreed to take concrete steps for establishing long-term arrangements to expand bilateral trade. This was indicated in the protocol of the fourth meeting of the Indo-Russian Working Group on trade and economic cooperation which concluded its two-day session in Delhi yesterday.

LoIs for investment worth $2 bn signed

The curtain rung down yesterday on the three-day Intechmart-Khajuraho 1997 with foreign and Indian companies signing six MoUs and more than 36 Letters of Intent involving investments of more than $2 billion. The hallmark of Intechmart was the MoU reached between MPSIDC and Indo-Rama Synthetics for a Rs 6,000-crore joint sector petro-chemical plant (naphtha cracker plant) at Bina in Sagar district of Madhya Pradesh.

"No action against employers whose staff opt for VDIS"

The Central Board of Direct Taxes (CBDT) has clarified that no action will be taken against employers whose employees have declared their undisclosed salaries under the Voluntary Disclosure of Income Scheme (VDIS). The clarification has come as an answer to a query raised before the board whether an employer would be proceeded against u/s 201(1), 201(1A), 221 or 271 C of the Income-tax Act by levying penalty/interest, if his employee declared his concealed salary.

Cash-strapped corporates to cut election funding

"No action against employers whose staff opt for VDIS"

BJP to field Vajpayee from the east

RBI seeks clearance for ready forwards in gold-linked securities

I-T freezes 20 more accounts in hawala case

Election Commission to enforce inner-party democracy code

US investments directly proportional to pace of reforms, say Daley

Gujral pleads Dal's case with Navin Patnaik

Revised expenditure estimates of ministries to be ready by month-end

Financial Briefing -- RBI mops up Rs 312 cr via three-day repo

"Boom time ahead for private LPG players"

Indian trade expo on in Saudi Arabia

LPG dealers seek nod to set up dispensing gas stations

ICAR upbeat on good wheat output despite unseasonal rains

BIFR struggling to revive si