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Govt land reforms report says SEZ concept enormously destructive
Special Economic Zones are nothing but special exemption zones and there is no reason to exempt these from all law. Hence, scrap these, is the recommendation of the Committee on Land Reforms and Agrarian Relations set up by the Union government to advise it on issues ranging from land reforms and land acquisition to measures to stop conversion of farm lands.

Mahindra Satyam settles Upaid dispute for $70 mn
Mahindra Satyam today said its board has approved settlement of lawsuits brought by its former client Upaid Systems by paying $70 million.

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Govt to blame, not us, for gas outcome: RIL
If Anil Ambani’s Reliance Natural Resources Ltd (RNRL) is aggrieved at Mukesh Ambani’s Reliance Industries Ltd for not proceeding with the private agreement between the two brothers on gas supply from the latter’s fields, it should instead blame the Union government, said RIL’s senior counsel, Harish Salve, at the Supreme Court today.
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Time for govt to roll back stimulus: Moody's

Global rating agency Moody"s today said large stimulus package provided by the government to perk up the economy and the consequent recovery has set the stage for it to roll back the measures. - Waterless Mumbai - Govt approves 6 new SEZ proposals - Usage of IPO proceeds not monitored by Sebi: Govt - New jobs for women under govt schemes fell in 2008-09 - Govt clears Rs 15,254 cr to revive 36 sick CPSEs - Govt mulling extension of safety zone near offshore oil units The rating agency further said any revision in the country"s sovereign rating will depend on the precise nature of the government"s fiscal consolidation programme, which was hit hard by the slew of stimulus measures. "...The government"s large fiscal stimulus programme and strong growth response have set the stage for a successful exit strategy, thereby leading potentially to a deceleration in its fiscal financing requirements," Moody"s said. Moody"s said this in a statement on upgrading outlook on rupee-denominated government bonds. The government had cut excise duty by 6 per cent, service tax by 2 per cent, besides stepping up plan expenditure to spur the slowing economy, which resulted in widening of fiscal deficit, projected at 6.8 per cent of GDP this fiscal. However, this has given a push to the economy, with GDP growth posting a stunning numbers at 7.9 per cent during the second quarter of this fiscal. Moody"s sovereign analyst for India, Aninda Mitra said, "The structure of the Indian economy is robust, and cyclical trends are strong and sustainable."


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