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Friday, February 01, 2002

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INDUSTRY & ECONOMY

ECONOMY


GDP growth pared to 4 pc
THE Government has yet again revised downwards its estimates of growth in the country's real gross domestic product (GDP) for 2000-01. According to the `quick' estimates of national income for 2000-01, released by the Central Statistical ... More

Fiscal deficit up 37.7 pc
A SLIPPAGE in the budgeted fiscal deficit target of 4.7 per cent of the GDP during 2001-02 appears inevitable going by the trends in the first nine months. The continuing decline in tax revenues coupled with a spurt in expenditure led to a ... More

FOREIGN TRADE


Swiss cos keen on Indian market
SWISS companies have shown interest in collaborative ventures with Indian entrepreneurs in areas such as environmental technology, food processing, packaging and engineering, in which the Swiss entrepreneurs excel. Describing India as a market ... More

POWER


Naphtha duty waiver for units switching to LNG
THE Finance Ministry on Thursday accorded a full waiver on excise duty on naphtha for power generation, which earlier attracted a rate of 27.6 per cent. The 740-MW Dabhol power project has been excluded from the duty waiver. The exemption was ... More

SSI


Alcatel solution for SMEs
MUMBAI: Alcatel has announced the launch of Alcatel OmniPCX Office, an integrated communications system for small and medium enterprises (SMEs). OmniPCX Office provides fully integrated Internet, voice and data services in a single ... More

RADIO/TV


Viewers must have choice of channels, says panel
THE Task Force on Conditional Access constituted under the aegis of the Union Ministry of Information & Broadcasting (I&B) has submitted its report on issues pertaining to transparency, conditional access and addressibility in the cable TV ... More

REAL ESTATE & CONSTRUCTION


Construction majors to visit Kabul
WHILE five major cement and power companies have proposed to undertake revamp of the existing cement and power plants in Afghanistan, more than 10 construction majors are likely to visit Kabul shortly for exploring reconstruction of roads, ... More

LEATHER


Integrated tannery projects in offing
TO promote foreign investment in the leather sector, the Union Government proposes to set up integrated tannery projects on a pilot basis, according to the Union Minister for Commerce and Industry, Mr Murasoli Maran. Inaugurating the India ... More

INDUSTRY ASSOCIATIONS


`Proactive, but penumbral'
INDIA Inc has termed the mid-term export strategy for 2002-07 as "proactive and progressive but penumbral". Mr S.K. Saraf, Vice-President, Federation of Indian Export Organisations (FIEO), said that the documents provided a detailed ... More

ICC urges multi-pronged strategy to boost exports
THE Indian Chamber of Commerce, Kolkata (ICC), has complimented the Union Commerce Minister, Mr Murasoli Maran, for setting "laudable goals" in the medium term export strategy for 2002-07. It said achievement of the goals would require a ... More

Nasscom urges Govt to retain software sops
NASSCOM (National Association of Software and Services Companies) on Thursday urged the Government to retain the current status for the software and services industry in the Union Budget 2002-03. "Nasscom is not demanding any major fresh ... More

Financial planners' body launch likely this month
THE Association of Financial Planners (AFP) is set to flag off operations with a formal launch in February. It is also working towards developing an educational programme, beginning with a scheme for distance learning. The executive committee ... More

CINEMA


Insure, be secure is the tinsel town motto
TINSEL town is lending glamour to the staid life insurance business. Quite a few of its stars are either insuring themselves for large sums, or as actor Naseerudin Shah did recently, choosing to endorse insurance products. Southern superstar ... More

DISINVESTMENT


Seven bids for IBP; 2 from Reliance
SEVEN companies have submitted bids for acquiring a controlling stake in the State-run petro marketing company, IBP Ltd. These are Reliance Industries Ltd, Reliance Petroleum Ltd, Shell, Kuwait Petroleum Corporation, Indian Oil Corporation, ... More

Delhi HC rejects ModiCorp plea on VSNL divestment
THE Delhi High Court has rejected the petition by Modi Corporation seeking a stay on the disinvestment of Videsh Sanchar Nigam Ltd (VSNL), thereby giving the green signal to the Ministry of Disinvestment for inviting financial bids for 25 per ... More

HCI sale: Ajit Keskar seeks more time
THE Government is considering a proposal by the Dr. Ajit Keskar promoted Tulip Hospitality Service Ltd (THSL) for picking up a stake in the Hotel Corporation of India's Juhu Centaur property in Mumbai after the group failed to meet the deadline ... More

Disinvestment verdict hailed
NEW DELHI: The Union Minister for Law, Justice and Company Affairs, Mr Arun Jaitley, has said that the recent Supreme Court judgement on the disinvestment of Balco has been a turning point for the ongoing economic reforms and privatisation ... More

REGULATORY BODIES & RULINGS


FIPB defers decision on Suzuki proposal
THE Foreign Investment Promotion Board (FIPB) on Thursday decided to defer a decision on Suzuki Motor Corporation's proposal to set up a two- and three-wheeler manufacturing facility in the country. Sources said that the Government had sought ... More

INCOME TAX


HC stays I-T notice on allowances
THE Andhra Pradesh High Court has stayed the operation of the Income-Tax notification issued in September last year for recovery of tax on perquisites and allowances to the employees and officers working in the public sector units, particularly ... More

TOURISM


`Taxation norms hurting tourism'
NEW DELHI: The Federation of Indian Chambers of Commerce and Industry (FICCI), in a study jointly conducted with AF Ferguson, has found that the high rate of taxation on tourists is one of the major burden on tourism in the country. ... More

`Look South' tourism meet in Hyderabad
THE Federation of Indian Chambers of Commerce and Industry, in association with the Andhra Pradesh Department of Tourism and the SAARC Chamber of Commerce and Industry, is organising the second international tourism conference and exhibition on ... More


Comments & Letters to the Editor to: bleditor@thehindu.co.in

Top Stories
Crystal-gazing the healthcare scene


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GDP growth pared to 4 pc

Fiscal deficit up 37.7 pc

Viewers must have choice of channels, says panel

New subsidy scheme for IWT sector

In Depth
Inside Kashmir
Guide to derivatives
US-64
Looking back
Jan. 20-Jan. 26
AIRIA, Capexil to chalk out rubber subsidy scheme

Software: Losing the sizzle?

Steel industry: Rolled flat out

Realty may get access to overseas borrowings

Railways shelves variable tariff plan for petro-products

Bharti pact with cell cos heading for a jam

Status quo in EPF rate for now -- Linking to Special Deposit Scheme mooted

Insat-3C launch successful

Firm policy needed to revive economy: Manmohan

Pvt sector to be in N-power field


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