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Recession-hit tourism sector looks up to CWG
Terror threat, swine flu scare and hike in air fares hit the tourism sector hard in 2009 with number of foreigners visiting the country dropping by over 6 per cent but the tourism ministry is now looking up to the Commonwealth Games to reverse the trend.

Service tax from stock brokers halved last fiscal: Finmin
The government today said the total service tax collected from stock broking firms reduced to almost half in the last fiscal when compared with the previous fiscal.

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ONGC opposes FinMin directive to park surplus funds with PSUs
Oil and Natural Gas Corporation (ONGC) has opposed finance ministry directive of parking its surplus funds with only PSU banks saying it is losing Rs 360 crore of interest revenues annually as state-run banks offer lower interest rates when business is given to them on nomination.
Business Ideas

IIT placements begin today

Investment banking companies are back on the campuses of Indian Institutes of Technology (IITs), offering plum jobs to engineering graduates. IITs, which will begin placements tomorrow, expect this year to be a better one as compared to last year. - Non-teaching IIT staff protest pay anomalies While Tower Research Capital, a financial services company from New York, has confirmed participation at IIT-Kanpur with the highest offer of Rs 44.5 lakh per annum so far, IBM has made an offer of Rs 14 lakh, highest so far at IIT- Roorkee. The institutes say they see a 30 per cent salary hike over last year, when the average offers saw a 30 per cent drop to around Rs 6 lakh, due to the global recession. “Placements this year look better than last year. We have invited around 1,200 companies on the campus against 800 last year,” said a placement committee member from IIT-Roorkee, which will place around 1,200 students this year. At IIT-Kharaghpur, the highest salary offered to the batch of 2009 remained the same as last year, at Rs 22 lakh per annum, while the average salary for students dipped to Rs 6 lakh per annum from Rs 7.44 lakh per annum last year. IIT-Madras has sent out 800 invitations to companies, of which 100 have confirmed participation. The total number of students at IIT-Madras this year is around 1,000. Last year, the IITs were able to achieve only around 75-80 per cent placements.


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