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Govt revises FDI cap, allows 100% in telecom, 49% in insurance
Defence cap stays at 26%, higher investment to be cleared by Cabinet committee
New Delhi, July 16
The Centre on Tuesday decided to revise existing caps in key infrastructure sectors such as telecom, retail, insurance and sensitive defence sector in an attempt to rejuvenate sagging foreign direct investment (FDI).

RBI booster to Re spooks market
New Delhi, July 16
The central bank’s strong defence of the faltering rupee provided some strength to the currency but in the process had a collateral damage as it spooked stock markets and brokerages downgraded growth estimates of the economy on concerns that interest rates would harden and money would become costlier.
Editorial: RBI strikes hard

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The tribune DEBATE
asli vs naqli chandigarh — part III
How Punjab’s netas, babus and dalals plotted to make a killing
Chandigarh, July 16
The 15,000-acre New Chandigarh (Mullanpur) project is a veritable realty magic conjured up by its influential protagonists to hard-sell it. Rewind to 2005: 200 bureaucrats form a group housing society in Mullanpur and Shingariwala, The Punjab IAS-PCS Officers Cooperative Housing Building Society.
A view of the Punjab IAS-PCS Officers Cooperative Housing Building Society in New Chandigarh. Tribune photo: Manoj Mahajan

Bhakra-Beas power projects
Punjab, Haryana owe Rs 1,497 cr to HP, Centre tells apex court
New Delhi, July 16
The Centre today informed the Supreme Court that Punjab and Haryana would have to pay a compensation of Rs 1,497.39 crore to Himachal Pradesh for short supply of electricity from Bhakra and Beas projects since 1966. Appearing for the Centre, Additional Solicitor General Mohan Jain told a Bench comprising Justices AK Patnaik and MY Eqbal that alternatively Punjab and Haryana could compensate Himachal by allotting additional energy over a period of 30 years if they had any difficulty in making cash payment.

‘Toothless’ Punjab Lokpal battles staff shortage
Chandigarh, July 16
The Punjab Lokpal seems to be ineffective in fighting cases of corruption, fraud and misuse of authority by politicians holding government offices in the absence of adequate staff to investigate complaints. The state Lokpal further lacks powers to probe government officials or take suo motu cognisance of acts of corruption by those holding public offices.

HC rejects Sajjan’s plea for quashing charges
New Delhi, July 16
The Delhi High Court today dismissed Congress leader Sajjan Kumar’s plea for quashing the charges framed by the trial court against him for his role in rioting and the killing spree against Sikhs in a case relating to the 1984 riots in Delhi. Justice Suresh Kait rejected Sajjan’s contention that the trial court had framed charges against him on July 7, 2010 without considering the “sterling quality of documents” produced by him to prove his innocence. (Details on Nation page)

No bar on Mumbai dance girls, rules SC New Delhi, July 16 It will be business as usual for over 75,000 dance girls and women rendered jobless by the Maharashtra Government in 2005 by banning dance bars. This has become possible following today's Supreme Court judgment.