Read this amazing interview that Gautam Kumara, director of McKinsey Quarterly, Delhi, had with the chairman of GMR, Mr. G. M. Rao.

Some extracts:

...Active in airports, roads, and power, India’s GMR, led by founder and chairman G. M. Rao, is right in the middle of the country’s efforts to build up a weak infrastructure. While Rao expects the economy to remain vibrant, he worries that it can’t be developed fast enough to support current economic-growth rates…

Government of India has decided to refund service tax paid by exporters on four  taxable services, which are not in the nature of "input services" but could   be linked to export goods.  A Notification No. 40/2007-ST issued today  (September 17, 2007) by Central Board of Excise and Customs,  Ministry of Finance covers under this, the following four services:-

Rohm and Haas, the largest specialty material manufacturers in the world, are planning to invest US$100 million in India to develop manufacturing and research and development facilities.

The Indian government announced that in the 2007-08 budget it will charge a fringe benefit tax (FBT) on the value of employees’ stock option plans (ESOPs) allotted to employees by a company free or at confessional rates at the rate of 30 percent plus surcharge and education cess thereon.

Big Apple, the Indian version of the American 7-Eleven convenience store chain is looking at private placement of shares to raise funds for a second phase of expansion in and around Delhi. The expansion is set to include 100 new convenience stores at an approximate cost of US$18.75 million. After completion, Big Apple --- will have 200 stores in the National Capital Region (NCR).

Current mandatory norms require Indian airline companies to operate in the domestic market for a minimum of five years before they can take on international routes. Only Air India, Indian Airlines and Jet Airways currently meet the minimum eligibility criteria. 

Fortis Healthcare, a promoter group company of Ranbaxy which last year invested Rs 1,000 crore (US$250 million) to expand its network, will invest Rs 800 crore (US$ 200 million) to set up a seven-star medicity in Gurgoan, a city in North Indian state of Haryana. Spread over 10.7 acres of land, construction of the 950-bed medicity begins today. Phase one – to be completed the next two to three years – will give the medicity a total of 350 beds.

Section 48, Explanation (v) of the Income-tax Act, 1961 - Notified Cost Inflation Index for financial year 2007-08