Financial Daily from THE HINDU group of publications
Friday, June 18, 2004

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Govt will function as `gateway to investments' — `Gatekeeper' role to be shed
HERE'S something for India Inc to look forward to and cheer about. As a measure to promote investments further in a liberalised environment, the Congress-led UPA coalition Government has taken a conscious decision to shed the "traditional" ... More

India to oppose extension of textile quota regime — Intense lobbying by US cos
THE US textiles manufacturers are lobbying hard in a Presidential election year with the Bush administration for an extension of the quota regime by another four years, i.e., up to 2008. The manufacturers have reportedly roped in some 100 ... More

Powerlooms may get back excise exemption
THE Finance Ministry seems all set to grant full excise duty exemption for powerlooms, thereby, undoing the 2003-04 Union Budget's move to `complete the CENVAT chain' across all segments of the textile industry. Restoration of the earlier ... More

Coking coal crunch shrinks SAIL sales
DESPITE the bullish trend, Steel Authority of India Ltd (SAIL) has suffered a sales drop of 10-15 per cent during the first quarter of 2004-05, due to coking coal shortage. SAIL has also reduced its annual sales target from 12 million tonnes to ... More

Have housing loan rates bottomed out?
IT would appear that housing loan rates have touched their floor. Home loan rates are currently hovering at around 7.5-8 per cent, down from 14 percent in early 2000. The first clue that rates have bottomed out - hardly any rate cut ... More

`We are an investment-friendly government' — Mr Buddhadeb Bhattacharjee, Chief Minister of West Bengal
We still have an image problem in various parts of the country and abroad. One reason is that we are a Left Front Government and many people are uncomfortable with the word "Left". Recently I told a foreign envoy that if you can do business with Chin a, why can't you do business with us? More

Banks may offer fresh loans to defaulting farmers
WITH the Government trying to create a human face for reforms and the Ministry for rural industries pushing for more farm-finance, bankers under the aegis of the Indian Banks' Association on Thursday met to draw up a scheme for distressed ... More

States turn down oil industry proposal for fixed tax structure
MOST of the States have turned down a proposal by the oil industry and supported by the Ministry of Petroleum to shift from an ad valorem sales tax structure to an absolute figure. Sources said here that the proposal was mooted in a bid to ... More

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