In a move that could bolster investment in the fast growing telecom sector the government on Friday decided to raise Foreign Direct Investment up to 74 per cent, up from prevailing ceiling of 49 per cent.

Along with raising the FDI limit, the Union Cabinet also approved revised conditions for such direct investment, Information and Broadcasting Minister P R Dasmunsi said after a meeting of the Cabinet, chaired by Prime Minister Manmohan Singh.

Courtesy : Expressindia.com

IN a bid to promote tourism in the country, the Central Government might be willing to pump in funds to the tune of Rs 25 crore to develop Champaner in Vadodara as part of a national project. This was stated by Joint Secretary for the Ministry of Tourism Amitabh Kant on Thursday while addressing a conference on the Incredible India campaign here. He said that he foresaw Gujarat as a prime tourist destination in the coming years.

Kant said that since the tourism industry has grown by about 45 per cent in the last two years, the additional earnings being up to about Rs 8,000 crore, the Centre was always ready to fund such projects. He said that the deal could be finalised following close discussions with the State Government and then a Memorandum of Understanding can be signed sometime in the near future.

Kant felt that Champaner, like Hampi in Karnataka or Mahabalipuram in Tamil Nadu, was an excellent destination for arts, artefacts and culture. “I visited the site today and I was amazed at the secular concept and the richness of its architecture,” he said. Emphasising on the need to develop Champaner, he said more excavation, restoration and preservation activities were necessary before developing it as a popular tourist spot.

However, he also stressed the need to improve Vadodara’s infrastructure to handle the tourist traffic. “The development of Vadodara airport is the key. The air traffic, to and from Vadodara, has to increase,” Kant said.

Courtesy : Expressindia.com

Ahmedabad, March 22 A TWO-DAY national convention on taxation-2007 will begin here on Saturday under the aegis of All Gujarat Federation of Tax Consultants, and All India Federation of Tax Practitioners (western zone). Justice M H Shah of Gujarat High Court will inaugurate the meet while the valedictory function will be addressed by Justice R K Abhichandani.

The meet will focus on professional opportunities and social obligations of tax professionals in the presence of experts from all over the country, said a Federation release.

More than 400 delegates representing different associations will be taking part in the

deliberations, according to federation media in-charge Pradip Jain.

He said that eight technical papers would be presented during the meet, which would be held at Tagore Hall.

Courtesy : Expressindia.com