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The Mint Report for 7 December 2011

The Mint Report for 7 December 2011

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Opposition parties had loudly protested the decision to allow 51% FDI in multi-brand chains. They were joined by the Congress’s own UPA ally the Trinamool Congress and Parliament had been repeatedly adjourned over the issue.

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And separately, finance minister Pranab Mukherjee has also announced the government will start implementing the new direct tax code from 1 April 2011. The code attempts to widen the tax base and replace profit-linked exemptions with investment-linked ones.

And finally, Indian shares swung back into the green on Wednesday, with rising expectations of a resolution to the European debt crisis. The Sensex rose 72 points to 16,877. And the Nifty went up 23 to 5,063.

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