The Mint Report for 20 September 2010

The Mint Report for 20 September 2010

The latest meeting on the goods and services tax has failed. On Monday state finance ministers and the centre could not agree on the constitutional amendments that are needed to make the tax a reality. Some state finance ministers told Mint the politics between the Congress and BJP contributed to the failure of the talks. The goods and services tax is meant to reform India’s indirect tax structures at both the central and state levels.

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There’s a new development in the tussle over BlackBerry services. A report on Monday says the government has told mobile operators to upgrade their systems to intercept BlackBerry messages. They’ll have to turn in compliance reports by Wednesday. Earlier India had threatened to ban those services if BlackBerry makers RIM didn’t allow messages to be tracked by security agencies. But on 30 August RIM offered Indian authorities several options for monitoring messages. The government said it would evaluate those proposals over the next 60 days.

Indian markets rallied on Monday to reach a 32-month high. The Sensex shot up 311 points to finish at 19,906. And the Nifty surged 96 to close at 5,980.