The Hindu Business Line : Tuesday, January 06, 2004

CEMENT
Modest rise in cement December shipments
WITH the exception of Larsen & Toubro, which has reported a two-digit increase in despatches, cement majors have reported modest increase in shipments for the month of December 2003, compared with shipments made in December 2002. L&T has repo More

ECONOMY
Govt to take stock of progress on reforms
WITH the pre-poll alliances among political parties marking the preparatory process for the advancing elections, the Government machinery is being galvanised to ensure that the development programmes and achievements of the NDA Government under ... More

Kerala manufacturing units having it tough
If the mindset of the people does not change, the State will soon become a wasteland of opportunities. More

Bulging population may stunt India's growth — Even 8% growth till 2026 can't contain unemployment, says LSE study
EVEN an annual economic growth of 8 per cent up to 2026 will not be enough for India to avoid a rise in unemployment, according to a study conducted under the aegis of the London School of Economics (LSE). The outcome of the study, entitled ... More

AP debt being deployed in core sectors, says CM
EMPHASISING the fact that the fiscal devolution formula needs a re-look in terms of performing and non-performing States, the Andhra Pradesh Chief Minister, Mr N. Chandrababu Naidu, said that the State debt was being deployed for capacity ... More

MGP harbinger of larger reform programme: Antony
THE Asian Development Bank (ADB)-backed Modernising in Government Programme (MGP) will mark the implementation of a larger vision statement envisaging the development of Kerala as a frontline State over the period of 10-20 years, the Chief ... More

FOREIGN TRADE
India, UK keen to boost trade ties
INDIA and the UK on Monday pledged to enhance bilateral trade volume from the current $5 billion to a higher level, taking due advantage of the potentials present for mutual benefit. The Union Minister of Commerce & Industry, Mr Arun Jaitley, ... More

Outsourcing fears unfounded, says US Congressman
WHILE admitting that the US visa procedures perforce have become somewhat stringent, Mr Gregory Meeks, US Congressman, on a visit here, told presspersons on Monday that emerging fears in developing countries over a clampdown on such outsourcing ... More

HEALTH
Wockhardt files new drug application
WOCKHARDT Ltd has filed an Investigational New Drug (IND) application for its new drug for respiratory infections, WCK-1152. According to Mr Habil Khorakiwala, Chairman of the company, after this the Phase I trials of the drug can be ... More

AP junior doctors intensify strike
THE 25-day-old strike by junior doctors took a crucial turn today with the striking doctors deciding to stop attending to emergency services, even as the Chief Minister, Mr N. Chandrababu Naidu, reiterated the Government stand that the junior ... More

PETROLEUM
ONGC board okays Rs 900-cr investment in extraction plant
THE board of Oil and Natural Gas Corporation has approved a proposal to invest Rs 900 crore in a five-million-tonne C2-C3 extraction plant. The plant, to be located in the special economic zone of Dahej, Gujarat, will extract methane (C2) and ... More

POWER
APGenco to begin work on 3 major projects this year
GENERATION Corporation of Andhra Pradesh (APGenco) will undertake work on three major power projects this year to generate 1320 MW and contribute 8,000 million units (MU). The projects are 660 MW Vijayawada Thermal Power Station (VTPS) Stage ... More

Dabhol sale process to begin this month
THE Union Government plans to begin the process of selling Dabhol Power Company or its assets, before the end of January. The Finance Ministry plans to issue an information memorandum to parties interested in buying a stake in the project, a ... More

TEXTILES
Pdexcil urges Govt to extend TUFS by 5 years
While emphasising the need for continuation of TUFS, which is to end in March 2004, Pdexcil has suggested that the scheme be extended for a further period of five years or more until the powerloom sector is modernised to the full extent. More

TUFS made attractive with sops
CONCERNED over the laggard pace of progress in the Technology Upgradation Fund Scheme (TUFS) for the modernisation of textile industry in the country, particularly in the weaving segment where the offtake is less than one per cent only, some ... More

Additional ready goods textile quota announced
THE Ministry of Textiles has decided to release additional quantities to be added to the regular first quarter FCFS (first-come-first-serve) ready goods quota scheduled to open on January 12. To the EU, additional quantities have been ... More

Plan for textile knitwear shandy near Tirupur
Tirupur-based small scale seconds hosiery garment producers, who use knitted fabric wastes for their manufacture, would shortly launch a full-fledged textile shandy near Tirupur for direct marketing of their products. The shandy to be floated ... More

RADIO/TV
Cable industry demands resignation of I&B Minister
EVEN as there is uncertainty surrounding the implementation of the Conditional Access System (CAS), the cable industry on Monday demanded the resignation of the Information and Broadcasting Minister, Mr Ravi Shankar Prasad. The cable industry ... More

EDUCATION
New system to rate maritime training institutes
IN a bid to ensure skills and professional standards of Indian seafarers, the Government has introduced a rating system for maritime training institutes in the county. Three rating agencies, Crisil, Icra and Care, have been given approval to ... More

NEWSPAPERS & PUBLISHING
Maintain sense of balance, Antony tells media
THE media must always maintain a sense of balance and restraint, especially when reporting on sensitive issues, said Mr A.K. Antony, the Chief Minister of Kerala, while addressing a gathering organised in the city to celebrate the 125th ... More

DISINVESTMENT
SC sees no hurdles to disinvestment in NFL, EIL
THE Supreme Court on Monday directed that two new petitions challenging the Government's decision to privatise National Fertilizers Ltd (NFL) and Engineers India Ltd (EIL) also be tagged along with the main petition on Jessop & Co. The Court, .. More

RURAL DEVELOPMENT
Meet today on steps to bridge Nabard credit flow gap
THE financial weakness of co-operative banks in Tamil Nadu is among the reasons for the inadequate flow of credit in rural areas, according to the National Bank for Agriculture and Rural Development (Nabard). During 2004-05, the co-operative ... More

LABOUR REFORMS
`Contract labour' being misunderstood: FAPCCI
INDUSTRY in Andhra Pradesh feels that the term `contract labour' is most often misunderstood to mean contract employment or temporary employment. "In fact, it is a system where labour is employed by a contractor to execute certain work in ... More

EVENTS

Documentation centre opened in Mangalore

INCOME TAX
`Change in definition of resident status will hit IT professionals'
THE change in the definition of `Resident but not Ordinarily Resident' (RNOR) Indians, as effected in the Finance Act 2003, will have severe repercussion on Indian professionals and others who are employed in the software and IT-enabled services ... More

TOURISM
Odyssey to push Deccan tourism
For $485 a day during peak season, a tourist can get onto the luxury train which has been built to benchmark with the best in the world. More