Mumbai, Jan. 5: The country’s forex reserves increased $39.6 million to $296.57 billion on the back of a rise in currency assets during the week ended December 28, the Reserve Bank has said. Total reserves had slipped $92.8 million to $296.53 billion in the previous reporting week. Foreign currency assets were up $63.9 million to $262.01 billion.
New Delhi, Jan. 5: Prime Minister’s economic adviser C. Rangarajan today said that the forthcoming budget could look at imposing surcharge on income above a threshold, a move that pitches for higher rates of taxes for the super rich.
Mumbai, Jan. 5: Mahindra and Mahindra has forayed into the motorcycle segment with two 110cc models. Mahindra Two Wheelers Ltd, the two-wheeler arm of Mahindra group, previewed two new motorcycles — Centuro and Pantero — at a function last evening here.