Wednesday, March 17, 1999
Cabinet caps foreign stake in insurance at 26%
The Union cabinet has decided to limit foreign participation at 26% from the level of 40% mentioned in the Insurance Regulatory Authority Bill.
Tata Chemicals wins major tax case, to save Rs 200 cr
In an order that will benefit major corporates in the country, the Income Tax Appellate Tribunal (ITAT) in Mumbai has ruled in favour of Tata Chemicals Limited in their appeal against the Income Tax department which had disallowed a deduction of Rs 86.42 crore claimed by way of interest.
WB economist advises full convertibility in India
Chief economist of World Bank Joseph E Stiglitz has advised India to adopt total capital account convertibility (CAC) on a long term as a strategy to manage risks and attract more foreign direct investment.
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