In the news: Anil Ambani gives up LPG subsidy, monsoon forecast and more

Though there is not a single business news story which can be termed less important, there are some which stand out among those we cover during a day. Here are the top five of them which we found the most relevant today.

Conflicting monsoon forecasts create confusion  IMD predicts rainfall to be 93 per cent of the long period average or LPA. The forecast, if it turns real, will aggravate the agriculture and rural economy that suffered last year due to a deficit monsoon (leading to droughts in several states).

Govt meets FIIs on tax issues, refuses relaxation on MAT In a bid to reassure foreign investors on tax policies , top government functionaries on Wednesday held meetings with FIIs, but refused to relent on Rs 40,000 crore past tax demand saying the remedy lies in judicial appeal.

Anil Ambani gives up LPG subsidy, urges 1 lakh workers to follow Ambani joins a host of industry leaders, including Mukesh Ambani, Anand Mahindra, Anil Agarwal, Gautam Adani, Uday Kotak and Kishore Biyani, who have rallied behind Modi's call to well-to-do people to give up buying LPG at below market price so as to help cut subsidy bill.

Soon, PAN card will be issued within 48 hours of applying "An online facility for issuance of PAN is on the anvil under which an applicant can get a PAN card within 48 hours," a senior official said. Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards.

Railways launch unreserved ticketing mobile application According to the railway ministry , the pilot project started Wednesday covers 15 stations in the southern region and will be extended to the entire country in phases.