Germany to double no. of Indian visitors by 2015

STAFF WRITER 19:41 HRS IST

Chennai, Feb 1 (PTI) Germany is aiming to double by 2015 the number of Indian tourists visiting the country, said a government official at a road show here today.

According to German National Tourist Board Director (Regional and Destinations management) Horst Lommatzsch,Indian tourist traffic to Germany during January-November 2010 grew by 26.1 per cent to 4.20 lakh compared to the previous year.

"We want to double this (visit of Indian tourists to Germany) by 2015," he said.

General National Tourist Office (Marketing and Sales) Director Romit Theophilus said investments of Euro 200,000 have already been made for joint marketing activities with tour operators to further promote Germany.

He said the 125th Anniversary of the founder of the Benz in 1886 is proposed to be celebrated for 125 days.

"This will attract Indian auto-lovers.

Inflation impact: Govt may hike tax exemption limit

STAFF WRITER 17:44 HRS IST

New Delhi, Feb 1 (PTI) Tax payers can expect some relief from high inflation in Budget 2011-12 as the government may raise the income tax exemption limit for individuals.

"Finance Minister Pranab Mukherjee is alive to the price situation and its impact on the common man," sources said, adding he would favourably consider the issue of hiking tax exemption limit.

Moreover, they said, as the government is committed to raise the income tax exemption limit from Rs 1.6 lakh per annum to Rs 2 lakh in line with the Direct Taxes Code (DTC) in 2012-13, tax payers could expect at least some relief in the upcoming Budget on February 28.

"The finance ministry would keep in mind the high inflation in the Budget. Since there is no dearness allowance for a vast section of the society, hike in income tax exemption limit is likely," a source told PTI.

Sensex gains 220 points in opening trade

MUMBAI: The Sensex gained nearly 220 points in opening trade on the Bombay Stock Exchange (BSE) on Wednesday amid a firming trend overseas.

The 30-share index of the Bombay Stock Exchange surged by 219.18 points, or 1.21 per cent, to 18,241.40 within the first few minutes of trade, with oil and gas, realty and banking stocks leading the pack.

The blue-chip barometer has lost over 1,130 points in the past five sessions and closed at its lowest level in five months on Tuesday at 18,022.22.

Similarly, the broad-based National Stock Exchange Nifty index also moved up by 61.75 points, or nearly 1.1 per cent, to 5,478.95 points on Wednesday.

Brokers said the investor sentiment was boosted by aggressive buying by funds on the back of overnight gains in the US market and a firming trend on other Asian bourses.

Shares of Bharti Airtel were trading higher at Rs 324.10 despite the company's announcement of a 41 per cent dip in third quarter net profit to Rs 1,303.3 crore, compared to Rs 2,194.9 crore in the same quarter a year ago.

toi

Rupee up 19 paise to Rs 45.56 in early trade

MUMBAI: The rupee gained 19 paise to Rs 45.56 against the US dollar in early trade at the Interbank Foreign Exchange on Wednesday, supported by a higher opening in the stock market and weakness of the American currency against the euro.

The rupee had appreciated by 15 paise to close at Rs 45.75/76 against the US currency on Tuesday on the back of fresh dollar-selling by exporters, even as the equity market experienced sharp losses.

Dealers said that in addition to dollar weakness against other currency rivals overseas, a higher opening in the stock market on Wednesday boosted the rupee sentiment.

TOI