India got USD 15-bn foreign investment in April-June

Mumbai,

Mumbai, Aug 13 (PTI) Signs of India's economic recovery appears to have raised the confidence among foreign investors with the flow of foreign investment surging five times in the April-June quarter.

As against a flow of nearly USD three billion in the preceding quarter of Jan-March, the direct and portfolio investments flow together rose sharply to USD 15 billion during April-June this year, data released by RBI revealed.

Of the total investment flows during the quarter, portfolio investments accounted for USD 8.270 billion, while direct inflows contributed USD 7.016 billion to the total flows, Reserve Bank data showed.

In the three months ended March, 2009, total inflows into the domestic market was a mere USD 3.589 billion.

Foreign fund inflows had sharply declined in FY09 after the global financial turmoil triggered panic among foreign institutional investors, prompting them to pull out money from emerging markets.

10 new cases of swine flu in Gujarat, countrywide figure touches 1,203

New Delhi

New Delhi, Aug 12 (PTI) Ten people tonight tested positive for swine flu in Gujarat, taking the total number of those afflicted by the disease across the country to 1,203.

While Pune remained the worst-hit area by the disease with 61 new cases being reported from the city, Gujarat's 10 new cases take the number of infected to 27 in the state.

"All test results that were pending have come and according to that 10 more people, including three women, have tested positive for swine flu," Principal Secretary Health Ravi Saxena told PTI.

The latest figures include five from Ahmedabad, four from Surat and one from Navsari, he said. In Navsari, a 14-year-old boy has been infected with the H1N1 virus.

With the new figures, a total of 125 fresh cases have been reported, taking the total number of those afflicted to 1,203.

Govt to give Rs 10,000 cr towards debt waiver scheme

Govt to give Rs 10,000 cr towards debt waiver scheme
Date : Aug-12-2009 14:56

In order to partly compensate the banks and financial institutions for writing off loans under the farm debt waiver scheme, the finance ministry is likely to release Rs. 10,000 crore This disbursal would be over and above Rs 5,000 crore, which was given, earlier this fiscal to the banks and financial institutions towards the debt waiver scheme.

The government had earmarked to pay Rs 15,000 crore to the lenders during the current financial year. The government had announced the debt waiver scheme in 2008-09 Budget and was implemented by June 30, 2008 and this entailed a burden of Rs 71,000 crore on banks and financial institutions which the government promised to reimburse in stages. During 2008-09, the government provided Rs 25,000 crore to lending institutions as a part of compensation towards the Agricultural Debt Waiver and Debt Relief Scheme.

Draft Taxes Code released, to simplify tax structure

NEW DELHI:

NEW DELHI: The government on Wednesday released a brand new Direct Taxes Code that will replace the 1961 Income Tax and other direct tax laws, saying it will provide a simple tax structure for better compliance.

"We want to promote stability", finance minister Pranab Mukherjee said, while releasing the Direct Taxes Code.

The new code will provide for a simple structure for capital gains tax, savings instruments and non-profit organisations, he said, adding that there will be less scope for litigation.

"We expect to have better compliance and better collection of taxes," Mukherjee said.

TOI

Swine flu death toll in India reaches 17

PUNE

PUNE: A 48-year-old man died of swine flu here on Wednesday afternoon, the tenth victim of the contagious virus in this Maharashtra city and the 17th in India.

Earlier today, a 50-year-old woman died of swine flu here.

Nita Meghani, who was admitted to the Sassoon Hospital in a critical condition four days ago, died this afternoon, the Maharashtra Swine Flu Control Room said.

Twelve people, including two in Mumbai and one in Nashik, have died of H1N1 virus in Maharashtra.

Earlier, a Maharashtra schoolboy succumbed to swine flu just hours after three others in the state died of the same disease on Wednesday morning, officials said. With these deaths, the toll due to the viral infection has risen to 11 in the state and 15 in the country. ( Watch Video )

Babu Genu Kuland died in the Sassoon Hospital here at about 11am. The resident of Pimpri town, near Pune, was hospitalised three days ago in serious condition, according to Pune Minicipal Corporation (health department) chief SR Pardeshi.

Another Pimpri resident, Sanjay Mistry, 35, died in Sassoon Hospital early on Wednesday. He was hospitalised Sunday in a critical condition and put on a ventilator, according to an official of the state swine flu control room.

Barely hours after Mistry succumbed to the influenza A (H1N1) infection, Shravani Deshpande, 29, died of the same disease.

Deshpande breathed her last around 3am. She had been hospitalised here three days ago with pneumonia and later found to be suffering from swine flu. She was then put on ventilator.

Rakesh Gargunde, a medico in Nashik Civil Hospital, also succumbed to swine flu around 3am., said civil surgeon AD Bhal Singh.

Gargunde was admitted to hospital in an unconscious state two days ago and put on a ventilator. The test report confirming that he had swine flu was received by the hospital late Tuesday night.

The deceased Dr Rupesh Gangurde was admitted to a private hospital on Monday after he complained of vomiting, cough and fever, Maharashtra Minister of State for Health, Dr Shobha Bachav, told reporters here.

Two more suspected flu patients -- Vinod Borkul (21) and Rishikesh Kulkarni (26) -- have been admitted to the hospital.

While Borkul has tested negative for the viral infection, Kulkarni's report is still awaited.

Earlier, five people in Pune, two in Mumbai, two in Gujarat, one each in Tamil Nadu and Kerala had died of swine flu.

TOI