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Business Briefs

Tax tribunal under way

New Delhi, Aug. 23: A decision to set up a national tax tribunal, which was deferred by the Cabinet today, would be taken soon, finance minister Jaswant Singh said today. “It (the decision) will be taken soon,” Singh said but declined to say whether the matter will be taken up in the next Cabinet meeting. He indicated that the basic framework of the tribunal was in place but it has to be approved by the Cabinet.

Forex reserves

Mumbai, Aug. 23: Buoyed by fresh inflows, India’s foreign exchange reserves surged ahead and crossed the $ 85 billion mark during the week ended August 15, 2003. Foreign exchange reserves during the week swelled by $ 418 million at $ 85,415 million and do not include India’s Reserve Tranche Position (RTP) with the international monetary fund.

USO Fund

New Delhi, Aug. 23: Universal Service Obligation Fund administrator today said expressions of interest would be invited soon from agencies for conducting a survey on the functioning of facilities like village public telephones, with a view to revalidate claims.

Texmaco

Calcutta, Aug. 23: The lockout declared by the management of Texmaco on Friday in a section of its wagon division at Agarpara Works was lifted today, following an agreement with the workers.


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