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Eros International plans IPO for Indian unit
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GST may provide for rate changes outside Budget
The Centre and the state governments may retain the powers of reducing rates for the proposed goods and services tax (GST) without going through the Parliamentary process. Despite stability and uniformity of rates being the basis for the concept of GST, the model GST Bills are likely to have a provision for giving the governments the flexibility to bring down rates, though with a certain degree of discipline.
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India to get 145 US-built Howitzers

Seeking to deepen its bilateral defence and strategic ties with India, the US plans to sell to the country 145 state-of-the-art 155mm towed Howitzers worth $647 million. - US ramps up aviation security on terror fear - JP Morgan to pay $29 bn in salaries, bonuses: report - GMAC Financial to get additional US aid of $3.5 bn: WSJ - US forgoes $38 bn in tax over Citi: report - US modifies procedures to unearth travel nexus of suspects - Israeli chief of staff on India visit from tomorrow Describing India as an important force for "political stability, peace and economic progress in South Asia," the Pentagon has notified the US Congress that it plans to sell 145 M777 155mm light-weight towed Howitzers to India. "The howitzers will assist the Indian army to develop and enhance standardisation and to improve interoperability with US Soldiers and Marines who use the M777 as their primary means of indirect fire," the Defence Security Cooperation Agency said in a statement to the Congress. "India intends to use the howitzers to modernise its armed forces and enhance its ability to operate in hazardous conditions," the agency said. It also said the sale of Howitzers will contribute to the US" foreign policy and national security by helping to strengthen the US-India strategic relationship. India will have no difficulty absorbing these weapons into its armed forces, the agency said, adding the sale will not alter basic military balance in the region. The US Marines have 380 such systems and the National Guard possesses 273 of them. Australia with 57 guns and Canada with 12 are the only foreign countries which have been supplied this state-of-the-art military equipment by the US.


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