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Nearly one million bank employees in India, including some with private and foreign banks, began a two-day nationwide strike on Thursday demanding higher wages and a better social security net.
| | In its worst performance in recent weeks, a key index of the Indian equities markets ended trade on Monday nearly 870 points down from its last closing figure, as investors blamed lack of policy announcements and increase in minimum alternate tax on corporates for the negative reaction.
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Following are the highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha:
| | Promising to reinstate India's high economic growth, Finance Minister Pranab Mukherjee on Monday presented a $204-billion annual budget with more funds for welfare schemes and infrastructure, along with a declared "vision" to reach the fruits of progress to each of the country's 1.17 billion people.
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India's railway minister Mamata Banerjee on Friday presented the 15th Railway Budget in the Parliament with no fare hikes and proposals to introduce 57 new trains, improve passenger amenities and upgrade some 300 stations to global standards.
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India's economic survey has called for sweeping reforms in areas like foreign direct investment, divestment, taxation and the subsidy regime and said that the country could achieve 7.75 per cent growth this year despite difficult global circumstances.
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Reforms, not concessions, hold the key to agricultural growth in India, farmers' representatives told the finance ministry in the run up to the budget 2009-10.
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Yielding to pressure from its employees, cash-strapped national carrier Air India has decided to give them their June salary July 3, instead of July 15 it decided earlier.
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Apple CEO Steve Jobs has returned to the company he founded following a six month medical leave during which he had a liver transplant, the has company said.
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China continues to make inroads into Africa, as it bagged yet another major order for building an 80-km expressway in Ethiopia. The order was given without any bidding as the construction of the six-lane expressway would be financed through a Chinese soft loan worth over $700 million.
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Three months after launching Nano, the world's most inexpensive family vehicle at the Rs.1 lakh, Tata Motors Sunday launched here the iconic Jaguar and Land Rover cars, to cost between Rs.63 lakh and Rs.92 lakh in India.
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CEOs of Indian companies can make a dollar run longer than their Western counterparts because of the spirit of frugality with which they have been brought up, says a top India-born US-based recruiter of corporate honchos for Global 2000 companies.
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Indian investments need not cause fears of an Indian Raj over Britain, the House of Lords has been told by an Indian-born member, but instead would "surely show" Britain a way out of the current recession.
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Air India's top management is holding a meeting with employees' representatives Friday night here to discuss its proposals to cut wage costs.
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