Aluminium import check

New Delhi, June 14: The government is set to impose a safeguard duty of up to 35 per cent on some aluminium products for two years to protect the domestic industry against cheap Chinese imports. “The board of safeguards, which is headed by the commerce secretary, has approved the imposition of the duty for two years,” an official said.

Regional gap

New Delhi, June 14: The “investor-friendly” western states attracted the biggest share of corporate India’s investment announced in 2008-09, while the eastern states were mired in issues such as unrest over land acquisition, an Assocham survey said. Maharashtra, Gujarat, Goa and Daman and Diu accounted for 22 per cent of the investment announced last fiscal.

SAIL board

New Delhi, June 14: The government will clear a steel ministry proposal to reduce SAIL’s board size to 18 from 24. The proposal needs the approval of the appointment committee of the cabinet, headed by Prime Minister Manmohan Singh, a senior government official said.

Tax ruling

New Delhi, June 14: Foreign firms earning through underwriting services in India without having a permanent establishment here will not be required to pay tax on that income, the Income Tax Appellate Tribunal said in a ruling.

Cash outflow

Mumbai, June 14: Outward remittances towards education and travel have shown a sharp rise with more students opting to study overseas and more Indians preferring to holiday abroad.