At the launch of a discussion document on New Zealand's international air transport policy, New Zealand authorities held that the government is proposing to scrap foreign ownership limits on New Zealand airlines. They held that the policy review purported extending to seek inter-government agreements with liberalized investment criteria, provided certain conditions were met. The review suggested removing limits on foreign ownership of New Zealand airlines, which were currently set at 25% ownership by any one foreign airline or 35% by foreign airlines in total.

• During 2010-11, the government's revenue from direct tax collection rose by 94% to Rs 4,46,935 crore in from Rs 2,30,181 crore in 2006-07.
• During the same period, the Indirect tax collection rose to Rs 3,45,127 crore from Rs 2,41,538.

But, the number of tax assesses fell in 2008-09 and 2010-11 from the previous years for the 5 years under review. During these years, the number of income tax assesses were:

• 3.19 million (2006-07)
• 3.37 million (2007-08)
• 3.27 million (2008-09) (Decrease)
• 3.41 million (2009-10)
• 3.37 million (2010-11) (Decrease)

J.P.Morgan held that:

• Since Govt spending remains half hearted, India's liquidity deficit will decline more, hitting 1.5 lakh crore in June 2012.
• Core liquidity deficit could hit 1 lakh crore by the end of June, 2012.

For this JP Morgan recommended:

• The deficit would only come down if there are more cuts in the CRR or more open market operations.
• If they want to bring down core liquidity deficit to their comfort band, RBI needs to purchase Rs 35,000 crore in bonds via OMOs by June, 2012.
• Since investors continue to receive 5-year OIS as weak rupee likely to induce greater intervention by the RBI, and thus sterilisation via OMOs, which will push down bond yields.

The Income Tax department has discovered more than Rs 5,800 Crore of concealed income in the low-profile Micro, Small and Medium Enterprises sector during the fiscal 2010-11. This was detected by the IT department after it carried out over 3,900 raids. Almost 45% of the manufacturing o/p of the nation is accounted by the Micro, Small and Medium Enterprises.

U.S.-based Delta Airlines will soon become the world's first air carrier to produce its own jet fuel. Delta announced it is buying a oil refinery near Philadelphia from the Phillips 66 oil company for 150 million Dollars for the purpose.
Delta spent 12 billion dollar on jet fuel last year, which was about 36 percent of its operating expenses. Delta held that making its own fuel will save it about $ 300 million a year.