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Union Finance Minister Pranab Mukherjee has chosen to propose a new direct tax code in the current year of recession in profitable economic activity and fall in the incomes of the working people and business interests. When it comes into force next year, the code is not likely to yield for the government more revenue to promote economic growth, let alone mass welfare.

New York: The United Nations refugee agency today voiced its concern about reports that between 10,000 and 30,000 refugees have fled violence in Myanmar's north-eastern Shan state in recent weeks and headed to China's Yunnan province.

New Delhi: Naxalites have got to know about centre's plan to launch a major offensive against them and are preparing to take on the security forces.

The global standard setting body in food, Codex Alimentarius Commission is of the view that the quality norms should be formulated taking into considerations the needs of the developed nations and concerns of the developing countries, more particularly the small and marginal farmers.

It has taken over half a century since the visit of Professor Caldor in the mid-1950s for the government to seriously engage itself in reforming the country's direct tax structure. However, the discussion paper on the subject, tabled in Parliament earlier this month, seems to be incomplete as it seeks to focus only on a new set of direct tax rates to be effective from 2011-12, leaving out a very vital issue of the disclosure of concealed income and recovery of unpaid taxes over the years by both individuals and business firms.

NEW DELHI: Indian industry feels that the second United Progressive Alliance (UPA) Government led by Dr. Manmohan Singh has achieved moderate success in its first 100 days of functioning but its real challenge lies in the management of agriculture and faster expansion of the infrastructural facilities accompanied by substantial improvement in services.

LUCKNOW: The Bahujan Samaj Party and its supremo Mayawati received a big morale-booster when the party won three out of the four assembly seats in the recent by-elections; one seat was retained by the Rashtriya Lok Dal.

New York: New voluntary sexuality education guidelines have been issued by the United Nations Educational, Scientific and Cultural Organization (UNESCO) to help young people learn how to protect themselves against HIV and against abuse and exploitation.

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Latvia's performance under an economic program supported by a 27-month Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of an amount equivalent to SDR 178.4 million (about €195.2 million or US$278.5 million), bringing total disbursements under the SBA to SDR 713.8 million (about € 780.7 or US$1.14 billion).

New York: The United Nations Food and Agriculture Organization (FAO) said today that the detection of the H1N1 flu in turkeys in Chile does raise concerns about the spread of the virus in other poultry farms, but added that it does not pose any immediate threat to human health.