Today's Biz Bit

• The govt. is considering a hike in the I-T exemption limit and a rejig in tax slabs. For corporates, options like lowering the overall tax rate and eliminating surcharge may be considered. MoF officials are preparing the first drafts of the proposed revamp of direct taxes. Recent political developments, which signal and early election could have a bearing on these decisions. (ET)

• Reliance Industries, through its subsidiary, RIL (Australia), has signed an agreement with Uranium Exploration Australia (UXA) to buy 49% in 8 exploration blocks owned by the co. in Australia. This is the first time that an Indian private sector co. has ventured into uranium exploration within or outside the country. The agreement with UXA is only for exploration and is subject to regulatory approvals. (ET)

• Swedish truck giant AB Volvo is acquiring 50% stake in Eicher Motors' commercial vehicle business, which is being spun off into a new JV. Volvo will invest $350 million for a 45.6% stake in the JV. In addition, it intends to acquire an 8.1% stake in EML from its promoters for an undisclosed amount, which will take its direct and indirect ownership in the JV to 50%. (ET)

• Reliance ADAG is planning to launch its DTH service - BIG DTH next year. The co's officials are lobbying hard to get the govt. mandate CAS in 55 cities, just in time for the BIG DTH launch. The advent of CAS will force consumers to make a choice between cable TV, internet TV and DTH, thus helping BIG DTH play the volume game efficiently. (ET)

• According to a FICCI-E&Y report, the organised retail market is set to double in the next 3 years to $30 billion. Further, organised retail, which accounts for a mere 5% or the total retail market, may increase its share to 30% in the next 10 years. (ET)

• In a move that is set to open a new debate on the valuation of spectrum, Bharti Airtel has told the DoT that the co. is willing to pay Rs 2,650 crore for start-up GSM spectrum of 4.4 MHz for expanding its operations. This is Rs. 1,000 crore more than the amount paid by RCOM for the same amount of spectrum to start its pan-India GSM operations. (ET)

• Tata Teleservices has dragged the govt. to TDSAT, challenging the existing spectrum allocation policy to operators using different technology platforms. The co. has also demanded that GSM operators be forced to return any radio frequency allotment of over 6.2 MHz per circle. (ET)

• The govt. vetting a proposal to make disclosing PAN as a prerequisite for investment in banking and insurance products. Credit cards are also expected to be included in the list. (ET)

• Budget 2008 is likely to accord infrastructure sector status to coal mining - which would enable coal mining activities to boost production required for meeting power generation capacity largely based on coal. (ET)

• Reliance Industries has applied to the commerce dept to expand its multi-product SEZ by 1,050 hectares, to cover a land area of about 2,800 hectares. Since there is a thoroughfare and a railway line passing through the part of additional land proposed to be included in the SEZ, Reliance has assured that it will maintain contiguity by constructing under passes and security gates. (ET)

• The UP Govt. has given its approval to 2 SEZs being proposed by Ansal API. Both these sector-specific SEZs will be part of the co's Hi-Tech city in Lucknow. (ET)