Security concerns make India 'extreme risk' economy: Report
Economic Times
India and four other countries have been bracketed as "extreme risk" growth economies by global risks analysis firm Maplecroft citing security concerns. The UK-based firm's Global Risks Atlas 2011 has rated security as a primary concern for investors in high risk growth economies of India, Indonesia, Nigeria, Philippines and Russia.

Budget 2011 likely to give boost to infrastructure sector
Economic Times
Finance Minister Pranab Mukherjee is likely to announce steps to boost the infrastructure sector in his Budget with a view to sustaining over 9 per cent growth in the coming years. The initiatives could include raising the limit for investment in tax saving infrastructure bonds and providing special thrust to plan expenditure for sectors like road, energy, ports, airports etc. Currently, investments up to Rs 20,000 per annum in infrastructure bonds enjoy tax exemption.

India for more iron ore export curbs, duty rise seen
Economic Times
Steel Minister Beni Prasad Verma called for curbs on exports of iron ore on Friday, as the central government heads into a budget that could raise export duty on the steel-making ingredient marginally. "Yes, I am in favour of it. There should be more control on (iron ore) exports," Verma said. Government is unlikely to approve a blanket export ban as it would prefer better regulation and incentives for increased domestic use of the steel-making resource, as demand in the world's second-fastest growing major economy rises.

9% growth forecast difficult to achieve: Economists
Times of India
Even as the government remains bullish about economic growth next fiscal, leading economists aren't as confident as North Block mandarins about India's ability to even maintain the current growth rate given the many domestic and global headwind staring at the country. The Economic Survey, tabled in Parliament by finance minister Pranab Mukherjee on February 25, had forecast an over 9% growth next fiscal and pegged the current year growth at 8.6%.

India working out plan to expedite oil payment to Iran: FM
Economic Times
India has said that it is working out an arrangement to expedite payments to Iran for the imported oil and oil products. The payments to Iran are being delayed due to the tedious process involved in certification of the oil bought, after the Reserve Bank of India (RBI) stopped the use of a long-standing clearing mechanism for paying the Islamic Republic.

Agri market reforms key to control inflation: Rahul Bajaj
Economic Times
The finance minister should, and hopefully will, make quite a few announcements with respect to reforms in the forthcoming Budget, apart from presenting the accounts of the nation and making some changes in the direct and indirect tax rates.
The environment for reforms is always difficult. To get back the initiative, the government needs to initiate key reforms. I would rate the reform of agricultural markets as key to controlling inflation and increasing farm incomes. General sales tax and Direct Tax Code need to be rolled out with effect from April 1, 2012. .

Govt banks likely to miss rural housing loan target
Economic Times
Banks are poised to miss their target funding for rural housing this fiscal, making it yet another failure of the Manmohan Singh government that's lagging behind in road building and power capacity addition. National Housing Bank , or NHB, recently told banks to raise their lending in villages to at least get closer to the target, said a person familiar with the discussions.

Foreign banks seek parity with local ones
Economic Times
Foreign banks operating in India have demanded that their wholly-owned subsidiaries should be treated on a par with domestic banks where foreign investment is more than 51%. Some foreign banks had raised the issue with the Reserve Bank of India after it put out a draft paper, which encourages them to convert their branch operations in the country into wholly-owned subsidiaries.

Irda's plan to sell insurance products through post offices hits roadblock
Livemint
The life insurance wing of India's postal service has objected to the insurance regulator's move to allow post offices to sell the policies of other insurers. India Post's life insurance wing says since the postal department has its own life cover schemes, it should not sell the policies of other insurers.

SEBI slaps Rs 25 lakh fine on Central Bank of India
Indian Express
Market Regulator SEBI imposed a penalty of Rs. 25 lakh for alleged violation of various norms pertaining to debenture trustee. The SEBI order said that Central Bank of India functioned as debenture trustee for IL&FS even when there was loan outstanding. The loan was given by the Central Bank of India. As per the norms, no debenture trustee will not act for any issue if it has lent the loan and the loan is not fully repaid or is proposing to lend money to the body corporate.

Axis Bank launches income tax payment facility at ATMs
Economic Times
Private sector Axis Bank today announced the launch of the facility to pay income tax at ATMs. This facility, initially, will be available at select ATMs in the major centres and will shortly be made available at all 5,600-plus ATMs across the country, the bank said in a press release issued here. Axis Bank customers holding ATM/debit cards can use this facility to pay income tax/other direct taxes using Axis Bank ATMs.

SEBI passes order in IPO irregularities case
Moneycontrol.com
The Securities and Exchange Board of India has passed an order in the IPO irregularities case, which occurred in 2005 when the Yes Bank IPO was filed.
In 2005, SEBI had disclosed Roopalben Panchal and Sugandh Estates, two Gujarat-based entities for having almost 8000 demat and bank accounts, which were used to corner shares in the Yes Bank IPO. Profits reportedly to the tune of Rs 32 crore were made by Roopalben Panchal and Associates by using more than 6000 benami demat and bank accounts in order to subscribe to over 65 lakh shares of Yes Bank.

CCI set to get power to regulate major M&As
Financial Express
Decks have finally been cleared for all major merger & acquisition (M&A) deals to be scrutinised by the Competition Commission of India (CCI) to ensure that they are not anti-competitive. Government sources said that the notification of sections 5&6 of the Competition Act has been vetted by the committee of secretaries (CoS) headed by cabinet secretary KM Chandrasekhar and would be sent for Cabinet approval next month. The notification mandates the CCI to scrutinise M&A deals beyond specified thresholds.

Different IPO norms for life, non-life insurance
mydigitalfc.com
The Economic Survey 2010-11 has proposed a different set of disclosure requirements for life and non-life insurance firms for initial public offers (IPO) because of the distinct nature of the two businesses. The Insurance Regulatory & Development Authority (Irda) and Securities & Exchange Board of India (Sebi) are working together on finalising IPO norms and disclosure requirements for insurance companies. "While laying own the stipulations on disclosure requirements, Irda has drawn on international best practices," said the survey.

ONGC could make FY11 a record yr for equity issues
Business Standard
Fund mobilisation through primary market equity issues may set a new record in the present financial year ending March 31, if state-run ONGC's follow-on public offer (FPO) manages to hit the market in Mid-March as planned. According to the economic survey for FY11 released on Friday, the total amount mobilised as on November 30, 2010-11 through initial public offers (IPOs), FPOs and rights issues stood at Rs 46,701 crore compared with Rs 46,737 crore in 2009-10.

Economic survey 2011: Growth in critical core sectors slows
Economic Times

Economic Survey 2011: India must invest to boost farm yield, growth
Economic Times
India needs to step up investment to boost crop yield and farm infrastructure as the country aims for 8.5 percent agriculture growth in the financial year from April, a finance ministry report said on Friday. The government allocated around 778.8 billion rupees ($17.1 billion) for the farm and allied sectors in the current financial year to March 2011, about 7 percent of the total budget.