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Economy makes 2013 a year to forget

New Delhi : Slowing growth and rising inflation marked 2013 which the country's economic managers would like to forget quickly in the hope that the new year will bring in new government and some good news. The growth rate continued to slide throughout the year despite desperate attempts by the government  SCOURCE

Take a leaf from VAT to get GST ...

Even as the implementation of the Goods and Services Tax (GST) looks like it’s going to flounder yet again, largely on concerns raised by states about potential loss of revenues, it might be pertinent to rewind back in time, when eight years ago, almost identical concerns nearly derailed the implementation of the value added tax or VAT. http://www.financialexpress.com/news/take-a-leaf-from-vat-to-get-gst-going/1198557

National Spot Exchange: FMC may probe NK Proteins conflict of interest

The ministry of consumer affairs may ask the Forward Markets Commission (FMC) to look into suspected conflict of interest between NK Proteins and the National Spot Exchange Ltd (NSEL) following complaints. Financial Technologies The complaints by people, who claimed to have visited the warehouses of NK Proteins, also remained skeptical about the stock positions at NSEL godowns, especially of castor seed, castor oil and cotton wash oil, a senior government official said on Monday. http://www.financialexpress.com/news/national-spot-exchange-fmc-may-probe-conflict-of-interest/1154524

Imamat Day Mubarak

Fifty-six years ago, on the 11th of July 1957, Mawlana Hazar Imam succeeded his grandfather, Mawlana Sultan Mahomed Shah, as the 49th hereditary Imam of the Shia Ismaili Muslims. In keeping with the 1 400-year old tradition of Muslim leadership, covering all interpretations of Islam, Mawlana Hazar Imam has guided his murids in matters of faith and worked tirelessly to improve the quality and security of their lives. This latter concern extends not only to the Ismailis but all those who share their lives – locally, nationally and internationally. Mawlana Hazar Imam's vision, as well as the Imamat's institutional capacity to catalyse human development, have been widely recognised by governments, international organisations and civil society institutions. Today, the Imamat’s privileged relationships with many of these enhance its capacity to contribute to human development on a global scale. Imamat Day is an occasion to reaffirm our allegiance a...

Ramadan Mubarak

Ramadan Ramadan is the holy month in which Prophet Muhammad (peace be upon him and his family) received the first revelation of the Holy Qur’an. Together with other Muslims, the Ismailis celebrate Ramadan as a month of special felicity “in which the Holy Qur’an was sent down as a guide to humankind…” (Qur’an 2:184). In Muslim tradition, Ramadan is a time of heightened commitment to piety and purification through special observances such as fasting, the performance of good deeds — including charitable giving and voluntary service — and through personal sacrifices of material comforts. These observances lead to spiritual fulfilment and a sense of renewal. The fast of Ramadan is among the pillars of the faith: “O believers, fasting has been prescribed for you as it was for those who preceded you that you may be God-fearing” (Qur’an 2:185). Thus, the fast continues a practice which pre-dates Islam, and has been rendered more humane since religion is not intended to be a cause of ha...