Stocks are mounting in Maharashtras cooperative sugar factories, after traders halted lifting the commodity because of a continuous fall in its price. They fear prices may soon bottom out due to the huge supply of sugar for January.

Salaried taxpayers with no other income could get a respite from filing tax returns. The income-tax (I-T) department is open to examining a proposal to exempt them from the annual chore.

The proverbial light gleamed at the end of the tunnel today for Lavasa Corporation. The ministry of environment & forests agreed to consider clearance to the companys hill-side project near Pune, subject to stringent conditions.

The Central Board of Direct Taxes (CBDT) is formulating a far-reaching immunity scheme to prompt the repatriation of unaccounted money parked overseas. The proposed scheme could be one of the major announcements of Finance Minister Pranab Mukherjees forthcoming Budget speech.

Tata Steel, which has announced a follow-on public offer (FPO) to raise up to Rs 3,500 crore, will not be drawing close to half the debt tied up for its 3-million tonne Jamshedpur plant expansion. Instead, it will use the money, Rs 5,000 crore, for Phase-1 of its 3-mt Kalinganagar steel plant in Orissa.

Government bonds fell today amid fears of sharper-than-expected monetary tightening by the Reserve Bank of India (RBI) in its third-quarter review of monetary policy next week. The market has so far factored in a 25-basis point (bp) increase in key policy rates after the sharp dip in Novembers industrial production figures. The index of industrial production grew by a meagre 2.7 per cent the lowest in 18 months.

Budget 2011-12 could widen the excise duty net to include more small & medium enterprises (SMEs), as the finance ministry wants to reduce the threshold for exemption from the current Rs 1.5 crore. This would be a step towards aligning the duty structure with the proposed goods & services tax (GST), wherein the government has suggested a uniform threshold of Rs 10 lakh for both Centre and states.

Bajaj Autos ultra low-cost car project may have a bumpy ride ahead, with partner Renault India still to take a final call on branding and marketing the vehicle.

In a scathing indictment, the ministry of environment & forests has ordered the demolition of the 31-storey Adarsh Cooperative Housing Society building within three months.

Commercial banks now prefer one-year certificate of deposit (CDs) to short-term paper (of three- to six-month duration) to raise money, as volatility in the money market in the three months through December has made them focus on stability and improving their balance sheet.

State-owned oil marketing companies today raised petrol prices by up to Rs 2.54 a litre. The increase, second in 30 days, comes on the back of rising international crude oil prices. With effect from midnight, Indian Oil outlets will sell petrol at Rs 58.37 a litre. The price at HPCL and BPCL will be Rs 58.39 a litre.

In a first-of-its-kind deal, Indias largest-selling cola brand Thums Up will feature in Hollywood flick Mission Impossible the fourth and last part of action thriller starring Tom Cruise. This is for the first time that an Indian beverage brand will be seen as an in-product placement in a Hollywood movie, alongside international brands.

Rising prices have taken a toll on major reforms in the sugar industry. Decontrol of sugar is off the governments agenda.

Sebi consent order comes with tough riders.

Nineteen Eighty-Four may arrive sooner than you think. And, it will be the income-tax department that could take on the role of an Orwellian Big Brother should the government clear a far-reaching proposal to create a directorate of criminal investigation on the lines of a similar wing of the internal revenue service in the US.

After two days of discussions on price-control measures at the highest level, the government today announced the setting up of an inter-ministerial group to streamline and monitor food prices. It also pressed for stringent action against hoarders, vowed to strengthen the public distribution system and sought to intensify commodity purchases by PSUs for distribution.

Infrastructure, Leasing & Financial Services (IL&FS) will be the new promoter of Maytas Properties, the cash-strapped company owned by family members of disgraced Satyam founder Ramalinga Raju.

Mukesh Ambani-owned Reliance Industries (RIL) is at an advanced stage of negotiations with the Securities & Exchange Board of India (Sebi) to settle a case of alleged insider trading.

Agreement includes opening cafes, bean sourcing and roasting.