INDIA BUSINESS UPDATE - Sensex Up 149 Pts; Lok Sabha Passes Finance Bill 2011, Health Tax Axed

Tuesday, Mar 22, 2011 Click here for India Business Update Mobile Version LEAD STORIES LOK SABHA PASSES FINANCE BILL; 5% HEALTH TAX AXED The Lok Sabha on Tuesday passed the Finance Bill 2011. Bowing to pressures, the FM rolled back the proposed 5% tax on health services. read more SENSEX UP 149 PTS ON GLOBAL CUES Sensex ended up at 17,988.30 points on buying in fundamentally strong stocks amid firm global cues. Nifty rose 49.10 points to end at 5,413.85. read more TOP STORIES • WikiLeaks cash-for-votes expose paralyses Parliament • VSNL stake sale strictly as per rules: Arun Shourie • Govt moves bill to relax voting rights in pvt banks • FM moves GST Bill amidst Opposition din • Oil slips from 2-wk high on unrest restricted to Libya • I am keen on investing in India, says Buffett • Buffett to meet IRDA chief on March 25 • Govt brings more items under mandatory hallmarking • I-T dept issues Rs 616-cr notice to Mahindra Satyam • Govt approves 6% hike in dearness allowance • Jyothy Labs buys Delhi-based Diamond Fabcare • Sesa Goa bags Bellary Steel for Rs 220 cr • Aditya Birla Group eyes $3.5 bn Whitehaven Coal bid • Tata Power to build India's first floating solar plant • Kotak property arm to raise up to $500 mn • Power of lure: Desi online ads rule • Wikileaks: Gujarat CM boasts, says U.S. praised him • Cairn revenues grow 7-fold to $1.6 bn in 2010 • U.S. warplane crashes; allies debate Libya plan • Apple sues Amazon over APP STORE trademark more stories TOP VIDEOS Pranab Mukherjee Presents The Finance Bill 2011 It Is Preposterous To Give An Opinion On Indian Economy Two Hours After Landing In India: Warren Buffett, Chairman, Berkshire Hathaway The Yen Appreciation Always Hits The Balance Sheet Adversely Because We Do Have Imports From Japan: RC Bhargava, Chairman, Maruti Suzuki Any Increase In Interest Rate Is Bad News For The Auto Space...The Cumulative Effect Starts To Make A Difference: Pawan Goenka, President - Automotive Sector, M&M Fiscal Deficit Is Going To Head Higher This Year And That Is Going To Unsettle The Markets Even More: Jim Walker, MD, Asianomics AT A GLANCE BSE 17988.3 +149.25 NSE 5413.85 +49.1 TURNOVER Rs. 117,435 cr BSE CASH Rs. 2,833 cr NSE CASH Rs. 8,541 cr NSE F&O Rs. 106,060 cr BULLION GOLD 20920 -33 SILVER 54365 +303 CRUDE NYMEX 102.25 -0.08 BRENT 114.47 -0.49 FOREX $ / Re 44.9 -0.11 £ / Re 73.524 +0.37 € / Re 63.7 -0.11 EVENTS 24 March Meeting Of European Leaders To Finalise Plans To Solve The Eurozone Crisis 24-26 March 19th Convergence India 2011, Pragati Maidan, New Delhi 25 March 25th Skoch Summit: Reinventing India -- Shifting To Demand Side Governance, Shangrila, New Delhi Warren Buffett To Visit India To Launch Insurance Portal 25-27 March 17th International Exhibition & Conference On Diagnostic Medical Equipment & Technology, New Delhi 27-29 March 7th CII-Exim Bank Conclave On India-Africa Project Partnerships, Taj Palace, New Delhi EXPERT VIEWS "I do not think heaven is going to fall if we take up the Finance Bill first (and discuss Wikileaks report later). I assure you that we will have the discussion after the Finance Bill is passed. I am not making it a prestige issue." Pranab Mukherjee Finance Minister "It is U.S. policy that Mr Gaddafi needs to go. We have got a wide range of tools in addition to our military efforts to support that policy. Not only was he carrying out murders of civilians, but he threatened more; he said very specifically: We will show no mercy to people who live in Benghazi." Barack Obama President, USA "I am giving up that which doesn't have value for me; but makes sense for others. I thought it is better to give billion later on than giving away millions early on. Charity stands on its own, big time charity should achieve what you work for." Warren Buffett Chairman, Berkshire Hathaway WATCH OUT Warren Buffet & Bill Gates Visit India They are two of the world's most powerful men, worth over $100 billion - and two of the most generous philanthropists the world has known. And now, they are coming to India. CNBC's Becky Quick accompanies them on their trip and gets you privileged access to the agenda, the purpose and the details of their Indian trip. Exclusively on CNBC-TV18. SHOW TIMINGS March 23rd - 25th