6% DA Bonanza for Central Government Employees

elections 1 When most of the Private Sector employees may be praying for their jobs in this period of slowdown, Government employees have another reason to celebrate. After a liberal 6th Pay commission recommendation and other benefits like 5 days week announced by some state governments, its time for the central government employees to cheer up as UPA Government today announced a 6% hike in Dearness Allowances with effect from 1st January,2009.

While the government is leaving no stone unturned to please the people in an election year, this decision is going to add another Rs. 3500 Crore to the Fiscal Deficit. Rumors are abuzz that the next in line is a decision to cut price of Diesel which would further benefit the public at large. With these bounties being showered, you must be preparing your resume for a Government Job or wishing that elections should be a yearly phenomenon. Aren’t you !!

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CBEC issues Notification on Excise and Service Tax Reduction

CBEC has issued Notification No. 4/2009 - Central Excise dated 24th February,2009 with regards to the Excise Duty rates reduction announced yesterday by the government.

CBEC has issued Notification No.  8 /2009 – Service Tax dated 24th February,2009 with regards to the Service Tax rates reduction announced yesterday by the government.

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Excise Duty & Service Tax cut by 2% , Sensex Upbeat

Another dose of stimulus to the economy came today from the UPA government in form of Excise duty and Service Tax Duty. The government has announced Reduction of Excise Duty from 10% to 8% and Service Tax from 12% to 10%. The 2% cut is in addition to the 4% Cenvat Reduction announced earlier.

The BSE Sensex took the news positively and pared major part of the losses. The move is expected to help industries pass on the benefit of lower price to the consumer and hence boost the consumption which would help the economy to make a comeback. The move is going to cost  RS. 30,000 crore to the government coffers.

The notification in respect of the duty and Tax cut by Central Board of Excise and Customs (CBEC)  is expected by tonight or tomorrow.

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Investment Guru now on www.rajeshsoni.com

Investment Guru Blog has moved to a custom domain. I had bought www.rajeshsoni.com around two years back with intentions to open a full fledge website in future. The domain was lying idle since I do not have enough time to run a full fledge website. I came across the concept of Custom domain where one can point a blog to a particular domain and thought it would be a better use of the domain name till I launch a website.

The Blog address http://rasoni.blogspot .com continues to be functional and would redirect you to the www.rajeshsoni.com domain.

If you have a domain name would like to use it for your blog, it’s very simple to do so. Blogger provide comprehensive and easy to follow steps to convert your blog to Custom Domain. Click the link below to find out the process

How do I use a custom domain name on my blog?

Update (March 5th) : After initial experimentation, I am moving back to blogspot publishing at http://rasoni.blogspot.com The new domain was popping up issues on blog links and hence thought of reverting back. Now, http://rajeshsoni.com would be directed to http://rasoni.blogspot.com

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Top ELSS Fund for 2009 Tax Planning

The Taxman is calling again and investors are finding it difficult to decide if they should invest in a ELSS or not. Last Year has been a year of erosion of the NAV’s of the mutual funds and Tax Saving Schemes were no exception. Investors are not sure if they would get positive returns from Mutual funds. However, if you think from an Investment perspective of Three Years (lock-in period for ELSS investments), I would suggest that this is perhaps a good time to invest for a long term.  Here are the Top 5 Funds based on their performances -


However, one would see a return back to old favorites like PPF and FD’s and even NSC’s this time around. The lure of equity markets has surely taken a backseat and safety of capital has come to forefront of Investors. Investment Guru is of the view that ELSS still would emerge as a high return asset class for Tax saving purpose from the current levels and hence investors may consider allocating a part of their tax planning kitty to tax saving mutual fund schemes.

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Hexaware doubles on stake sell rumors

hexaware While the markets are on a very crucial stage of consolidation, it’s raining windfalls for Speculators. The Hexaware Technologies stock today zoomed to Rs. 42 as compared to Opening price of Rs. 21, on rumors that promoters are planning stake sale. The Promoters later clarified that they have neither pledged nor sold even a single share of the company nor do they have any plans for the same. Promoters have also clarified that there are no talks of any acquisition. The stock closed at Rs. 33 up nearly 65%.

The Stock carries a Book value of Rs. 47. It has a 52 Week high of Rs. 85 and 52 week low of Rs. 18.

Markets have witnessed similar bouts of speculative trading earlier in stocks like Rolta and Spice Communications. Talks are doing the rounds that some operators are actively involved in boosting the prices of small stocks for dumping them at higher levels. Investors needs to be careful of trading in small stocks that witness such up-move which is not supported by any positive developments on the counter.

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