Financial Daily from THE HINDU group of publications
Friday, June 21, 2002
Markets (June 20)
BL 2501137.87 (+5.06)
BSE Sensex3264.02 (+21.76)
S&P CNX Nifty1070.05 (+7.15)
Dollar (Buy/Sell)48.87/49.00
Gold Std (10 gm)5280

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Bay system to trigger next monsoon `pulse'
THE Indian Meteorological Department (IMD) authorities are waiting for a transient low-pressure system over the Bay of Bengal to evolve further to trigger the next `pulse' in the phased progress of the southwest monsoon. The northern limit of ... More

Cost inflation index at 447
THE Government has specified the cost inflation index for 2002-03 at 447. This index is specified by the Central Board for Direct Taxes (CBDT) for income-tax purposes, especially for calculation of indexation in respect of long-term capital ... More

Cement, petro products drive core sector growth
THERE is continued good news for the economy, with the six `core' infrastructure industries registering an overall growth rate of 5.8 per cent during April-May 2002, as against one per cent in the corresponding two months of the previous ... More

`Fiscal discipline need of the hour'
IF Kerala is to come out of its financial crisis, the State Government has to introduce strict fiscal discipline besides implementing second-generation reforms. Speaking to newspersons after taking over as the Chairman, CII Southern Region, Mr ... More

AP: Qualitative improvement of SHGs urged
THE State Government should play the role of a facilitator than a promoter of self-help groups (SHGs) and SHG federations and for every 25 such bodies, a catalyst or animator is required for improving their performance. This was one of the key ... More

  • Monsoon advances in Karnataka


    Chamber wants infrastructure in Coimbatore improved — Memorandum submitted to TN CM
    The ICCI delegation wanted formation of ring roads connecting all the arterial roads and peripheral areas of Coimbatore such as Peelamedu, Saravanampatty, Tudialur, Perur, Kurichi, Podanur, Vellalore and Singanallur. More

    Private funding of infrastructure projects — IDFC plans to brief TN CM
    THE Infrastructure Development Finance Company Ltd (IDFC) hopes to catalyse private investment in urban transport and other infrastructure projects in the State. In an informal chat with reporters on Wednesday at the post-annual general meeting ... More


    Revenue recovery law to collect dues — AP Govt to press ahead with power reforms: CM
    THE Andhra Pradesh Government is planning to continue its energy audit programme aimed extend the benefits of reforms to all sections of the society and is mulling the possibility of bringing a revenue recovery legislation to expedite collection ... More


    CBDT note on coffee income
    THE CBDT has issued a notification to provide that 25 per cent of the income derived from the sale of coffee grown and cured by the seller in India would be computed as if it were income derived from business. Besides, 40 per cent of the income ... More

    TN: Decision soon on review of entry tax
    A DECISION on the question of reviewing the levy of entry tax on raw materials, announced in the recent Tamil Nadu Budget, is likely in the next few days. The industry associations have been pressing the Government for reconsideration on the ... More


    Jayalalithaa launches Rs 960-cr Tirupur drinking water project
    THE Tamil Nadu Chief Minister, Ms Jayalalithaa, on Thursday laid the foundation stone for the Rs 960-crore drinking water and sanitation project conceived for the first time in the country under private funding basis in this knitwear exporting ... More


  • Karnataka Govt may review liquor policy


    WorldSpace sees no threat from FM radio
    THE entry of private companies into FM radio has undoubtedly renewed the interest of advertisers and listeners in the medium but has it stolen the limelight from WorldSpace - the only player in the satellite radio space? Launched in 2000, ... More


    Wipro initiative to revamp education model
    WIPRO has launched a new education initiative as part of its `Applying Thought in Schools'' project in Karnataka. Called the Wipro Forum for Quality in Education, the project aims at bringing together people from various fields in education to ... More


  • Karnataka: Housing projects launched


  • IFC aid for biotech projects


    India hopes to excel China in FDI inflows: Maran
    BOLSTERED by the recent internal survey by the International Finance Corporation (IFC), India is striving hard not only to close the gap but also excel China in foreign direct investment (FDI) inflows as a percentage of its gross domestic product ... More

    RBI help sought on automatic route misuse
    THE Foreign Investment Promotion Board (FIPB) has written to the Department of Economic Affairs (DEA) to take up the issue of misuse of the automatic approval route by a section of foreign investors with the RBI. The board has directed the ... More


    Pfizer sues Dr Reddy's on hypertension drug
    DR REDDY'S Laboratories said on Thursday it has been sued by global drug maker Pfizer Inc for allegedly infringing on its patent on anti-hypertension drug Norvasc. The Hyderabad-based firm said Pfizer had notified it on Monday that a suit had ... More


    New industrial policy for J&K
    All new industries in the notified locations will be given a capital investment subsidy at the rate of 15 per cent of their investment in plant and machinery, subject to a ceiling of Rs 30 lakh. The existing units will be entitled to this subsidy on substantial expansion. More


  • Hyderabad Engagements


    PAN must for more bank transactions
    THE Government has made quoting of the Permanent Account Number (PAN) mandatory for more bank transactions, including purchase of bank drafts, pay orders and bankers' cheques for amounts exceeding Rs.50,000 in cash during any day. The Central ... More

    AP: Gold card for `honest' tax payers
    HONEST tax payers in Andhra Pradesh can look forward to some small consolation. Very soon, they will be given a `gold card', which would allow them an expeditious passage at all the check posts. In another incentive to simplify the procedure of ... More


    Medium-term export plan for services likely soon
    GOADED by the need to look into the long-term advantages of building a robust base for services exports, the Department of Commerce is in the midst of formulating a medium-term export strategy for services which is likely to be unveiled in a ... More

    SAD removed on paraxylene imports
    THE Finance Ministry has removed the special additional duty of customs (SAD) of four per cent that had been imposed on paraxylene imports into the country. Paraxylene is used primarily as a feedstock for the manufacture of purified ... More

    No DEPB benefit for duty-free imports
    THE Centre, through a recent Customs Department circular, has clarified for the benefit of trade that no DEPB (Duty Entitlement Pass Book) benefit can be availed of on imports made without payment of duty, under the customs notification number ... More


    Kerala ayurveda centres in AP
    HYDERABAD: The Tourism Department has facilitated the setting up of five ayurveda centres in the State by Santhigiri Ayurveda and Siddha Vaidyasala of Thiruvananthapuram. Two of the centres are located in Hyderabad and the other at ... More
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