INDUSTRY & ECONOMY
PENSION PLANS
Cabinet okays social security scheme for unorganised workers
THE Union Cabinet on Wednesday approved a new social security scheme for workers in the unorganised sector as a "pilot project" ahead of a full legislation proposed by the Labour Ministry. "We would like to give the scheme a statutory shape but ...
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AUTOMOBILES
Auto Expo to highlight R&D, design trends
THE design and research and development (R&D) capabilities of Indian companies and a number of vehicles from global auto majors will be on display at the Auto Expo 2004, the biennial automotive show beginning here on January 15. "In this ...
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Maruti to drive in Suzuki's small car tech at Auto Expo
DESPITE the conspicuous absence of a number of car manufacturers, the forthcoming 7th Auto Expo at Delhi will still have a few stalls that will continue to keep the bi-annual show the top draw this winter. Car market leader Maruti Udyog Ltd ...
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COURTS/LEGAL ISSUES
`India must create efficient, low-cost arbitration system'
INDIA should strive for the creation of an efficient and low-cost arbitration system that could turn into a forex earner for the country besides ensuring a speedy resolution of disputes, according to the Chief Justice of India, Mr V.N. ...
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ECONOMY
Pant hopeful of boom in manufacturing
THE heartening feature of the economic growth has been the performance of the brick and mortar sectors which have demonstrated a degree of vitality that gives us confidence about our future and India has the potential to emerge as a manufacturing ...
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RBI raises GDP growth estimate to 7 per cent
THE Reserve Bank of India on Wednesday revised upwards its overall GDP growth estimates for the current fiscal to 7 per cent, with a continued upward bias. This is against the 6.5-7 per cent estimate revealed during the mid-term review of the ...
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Smadja prescribes agenda for strong India
Mr CLAUDE Smadja, President of Smadja Associates and Strategic Advisory and Principal Adviser of the World Economic Forum, has prescribed a seven-point agenda for India to cash in on the upbeat mood of India Inc, and the breaking of thaw in ...
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FOREIGN TRADE
Chamber hails SAFTA pact
THE Associated Chambers of Commerce and Industry of India (Assocham) has welcomed the signing of SAFTA (South Asian Free Trade Agreement) at the recently concluded SAARC Summit at Islamabad terming it a giant step towards furthering economic ...
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POWER
KSIDC, NTPC to sign pact for LNG terminal
THE State Cabinet has approved a proposal authorising the Kerala State Industrial Development Corporation (KSIDC) to enter into an agreement with the National Thermal Power Corporation Ltd (NTPC) for setting up an LNG terminal at the latter's ...
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Easy Bill ties up with BSES for bill collection
EASY Bill, a Hero Group company, today said it has tied up with BSES, the power distributor in Delhi, for bill collection. With this, BSES customers can pay their electricity bills at 450 centres of Easy Bill, and get instant receipt on ...
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Nuclear Power Corpn plans Rs 4,800-cr investment
NUCLEAR Power Corporation of India Ltd (NPCIL) plans to invest Rs 4,848 crore in the coming financial year 2004-05 — the highest-ever investments made by the corporation in one year. Buoyed by the ongoing power sector reforms and being ...
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TAXATION
Direct tax collections up 22.5 pc in Apr-Dec
AIDED by a sharp jump in corporate tax collections, direct tax collections (net) in the first nine months of the current fiscal surged by 22.51 per cent to Rs 64,230 crore as compared to Rs 52,428 crore achieved in the same period during the ...
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TEXTILES
Nabard aid for Pochampally weavers
THE National Bank for Agriculture and Rural Development (Nabard) has extended financial support for registering the products of the Pochampally Handloom Weavers Cooperative Society and Pochampally tie and dye Sarees Manufacturers' Association ...
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CARS
Fiat's Panda to turn the heat on Rover in UK?
SIX years since senior Fiat India officials gasped at a Palio-like Indica debut at the 1998 Auto Expo in New Delhi, it appears to be the turn of the Italian major to shadow the Indian car's prospects overseas. According to mid-December reports ...
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REAL ESTATE & CONSTRUCTION
`Imbalance' seen in guideline, actual market value of land in Coimbatore
IS there a real appreciation in land prices or is it being pushed up artificially? While the buoyancy in construction activity is indicative of the boom in the real estate market, industry insiders perceive a serious imbalance in the actual ...
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Apex court clears Tata Housing project in Goa
THE Supreme Court has permitted Tata Housing Development Company to go ahead with its premium housing project `Villa Paradiso' in Goa, which had been stayed earlier by the Mumbai High Court on the grounds that it was built on forest land. The ...
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METALS
Metal makers' plea to scrap age stipulation in machinery import
DOMESTIC metal manufacturers find an excellent opportunity to replace their "obsolete" manufacturing process technology at a nominal cost by second-hand plant and machinery, currently available in Europe and the US at a cost of 10 to 20 per cent ...
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KNITWEAR & HOSIERY
8 pc levy for cotton knitted clothing
COTTON knitted garment producers, especially the base cotton hosiery product manufacturers, have enough reasons to heave a `sigh of relief'.. The Revenue Department has made a minor amendment in the form of a clarification to its original ...
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Textile materials expo at Tirupur
THE Apparel Export Promotion Council (AEPC) Chairman, Mr A. Sakthivel, has called for an exporter-friendly import policy, which should enable the garment industries access raw materials and accessories easily. Mr Sakthivel who inaugurated the ...
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SCIENCE & TECHNOLOGY
Keltec starts production of titanium gas bottles
THE state-owned Kerala Hitech Industries Ltd (Keltec), a company specialising in the manufacture of strategic and critical components for the aerospace industry, has started production of titanium gas bottles used in satellites, launch vehicles ...
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FICCI award to Lalji Singh
HYDERABAD: Dr Lalji Singh, Director, Centre for Cellular and Molecular Biology (CCMB) has been selected for the FICCI Award for research and development (R&D) in life sciences for the year 2002-03, by the Federation of Indian Chambers of ...
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DISINVESTMENT
ONGC public offer in first week of March
THE Inter-Ministerial Group (IMG) on disinvestment of 10 per cent equity in exploration firm Oil and Natural Gas Corp (ONGC) on Wednesday decided to launch the public offer in the first week of March. The IMG, comprising secretary-level ...
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RURAL DEVELOPMENT
6,000 rural e-Seva kiosks to be run by self-help groups
FOLLOWING the success of e-Seva centres in the urban and semi-urban areas of the State, the Andhra Pradesh Government has planned to set up around 6,000 rural e-Seva centres in the form of touch-screen kiosks within the next six months, according ...
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EVENTS
Food & drink meet turns out to be a damp squib
For all the hype that was generated prior to the three-day second International Food, Drink & Hospitality Exhibition (IFDE India 2004), which was kicked off in Delhi on Wednesday, the event turned out to be a damp squib. Not only were `major ...
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Outsourcing allows cos to be competitive:
O `Brien
WITH barriers both in trade and services sector, everybody loses. Outsourcing of jobs abroad, whether manufacturing, production or service activities such as call centres, allows companies to be competitive and ensures developed economies to ...
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We must focus on infrastructure, says Mahindra
WHILE the economic growth projections are like music to the ears, the Confederation of Indian Industry President, Mr Anand Mahindra, articulated the need to sustain this trend and advocated a three-pronged approach that could catapult Indian ...
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In Hyderabad today
Business schools' meet in Vizag
ENTREPRENEURSHIP
Create entrepreneurs to attain 10 pc growth: Kalam
THE President, Dr A.P.J. Abdul Kalam, on Wednesday asked India Inc to promote entrepreneurship for achieving a sustained economic growth of 10 per cent and help eliminate poverty in the country. "There has been substantial growth in our higher ...
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INCOME TAX
CBDT move to demat tax challans
THE Central Board of Direct Taxes (CBDT) does not want the "income-tax challan" to go the "stamp-paper" way. It is planning to phase out tax payment challans from the system with effect from April 1, 2004. "We are planning to dematerialise ...
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IT assessments — `Scrutiny lapses won't attract vigilance angle'
REVIEW of scrutiny assessments under Section 143 (3) of the Income Tax Act carried out by AOs (assessing officers), at the hands of higher levels such as Deputy Commissioners or Joint Commissioners or Commissioners will no longer be a ...
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EXPORTS & IMPORTS
Cabinet clears Central legislation for SEZs
THE Union Cabinet on Wednesday approved the Commerce Ministry's proposal to enact a Central legislation on Special Economic Zones (SEZs) to provide a hassle-free and competitive duty-free milieu for promoting exports, besides "signalling ...
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ALTERNATIVE MEDICINES
Dacca Oushadhalay makes a comeback
THE 117-year old ayurvedic pharmaceuticals company, Dacca Oushadhalay, one of the few domestic pioneers in the field, is making a comeback after going out of business roughly 15 years ago. The new promoter and managing director, Mr S.N. Ghosh, ...
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TOURISM
Holiday expo in Chennai
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