INDUSTRY & ECONOMY
Dumping probe on gypsum plastic board imports
THE Designated Authority in the Commerce Ministry has initiated anti-dumping investigation into the import of gypsum plastic board from Indonesia and Thailand. Gypsum plastic board is mainly used as partition board and false ceiling for ...
Left parties warn Govt on Budget
THE Left parties on Wednesday warned the Government that the lack of "pro-poor and pro-farmer" policies in the forthcoming Union Budget would erode the support base of the Congress-led United Progressive Alliance (UPA) Government. Cautioning ...
CII for integrated food law
ENACTMENT of an integrated food law to reduce regulatory burden in the agricultural sector, freeing agricultural interest rates from artificial ceilings and reduction of excise duty on pesticides and cocoa-based confectionary are some of the ...
GDP surges 8.2 pc on all-round growth
IF there is one thing the ruling United Progressive Alliance (UPA) Government cannot complain about unlike most previous regimes, it is with regard to having inherited an economy on a low growth trajectory. According to the `revised ...
Increased capital investment flows boost forex kitty
THE major contributor to the $36.8-billion jump in the forex reserves of the country in 2003-04 has been the almost two-fold increase in capital account flows. According to the latest data released by the Reserve Bank of India, there has been ...
Current account surplus doubled last fiscal
A steady expansion in net earnings from invisibles occurred through 2003-04, peaking in the third quarter.
External debt up 7.4 per cent
THE country's external debt rose by $7.7 billion to Rs 112.6 billion in the fiscal ended March 2004, according to figures released by the Reserve Bank of India. The major portion of this 7.4 per cent rise in the external debt is due to the ...
`Centre-State cohesion key to boost investments'
IN a wish-list that seeks to remind the new Government on the unfinished agenda of economic reforms, the Greater Mysore Chamber of Industry (GMCI) has highlighted the need for a Centre-State convergence to remove obstacles for investments. In ...
Compressor makers seek import duty hike
THE Compressor Manufacturers Association of India has sought the Finance Ministry's intervention for revision of import duty on compressors to the peak rate of 20 per cent. Compressors have always been kept at a peak rate of Customs duty. The ...
Plan to simplify eco clearance to industries
A MOVE is afoot to simplify the process of giving environmental clearance to industries. The exercise is part of a World Bank-aided project for building overall capacity of environment and its management in India. The main area, which is being ...
EXCISE AND CUSTOMS
Cabinet clears excise tariff amendment Bill
THE Union Cabinet has approved the introduction of a Central Excise Tariff (Amendment) Bill, 2004, in the Parliament. The Bill seeks to have a common harmonised system of nomenclature (HSN)-based eight-digit classification code for central ...
Free heart surgery for kids
KOTTAYAM: As part of the diamond jubilee celebrations of the Akhila Kerala Balajana Sakhyam working under Malayala Manorama, 75 children from poor families in the State will undergo free heart surgery at Madras Medical Mission, ...
ONGC move opposed
Drug majors upbeat on regulated markets
THERE is no room for pessimism among Indian drug majors over their plans for regulated markets such as the US. Competition notwithstanding, they point out, the global pharma-pie continues to be an alluring option. Shrugging-off the pessimism ...
Dabhol lenders nearing accord
INDIAN lenders to the Dabhol Power Company are likely to buy out foreign loans of about $310 million at a discount of about 35 per cent. DPC's lenders met here on Tuesday to negotiate a settlement that may ultimately help restart the 2184 MW, ...
MSTC to invite auction bids for selling DVC units
MSTC has already completed its evaluation of the scrap at the two burnt down units and a tentative reserve price of about Rs 25 crore has been fixed.
Nation-wide network to link sales tax commissionerates
IF you thought evasion of taxes during inter-State trade would be a possibility in the post-VAT regime, think again. Coinciding with the implementation of the value-added tax (VAT) system, State Governments have taken a major step forward in ...
Kerala wants liquor, petrol out of VAT
THE State Government would like to see that liquor, petroleum and diesel are kept out of the purview of the value-added tax and stay clear of the likely adverse revenue implications, the Finance Minister, Mr K. Sankaranarayanan, told the State ...
Tax sops sought for dividend from foreign subsidiaries
INDIA Inc has sought rationalisation of taxation on dividend received from a foreign subsidiary to promote India as a favourable investment destination. "It is a well-known fact that outbound investment from India is on the increase with many ...
AP Govt meet on SSI revival next week
THE State Government has convened a meet on July 6 in Hyderabad to formulate a draft policy for the revival of sick small units in Andhra Pradesh, estimated at 38,000 out of the total of 1,43,867, according to Mr B.V. Rama Rao, President of the ...
Chennai Petro, Orchid Chem to invest more in desalination plants
DESALINATION, which has emerged an option to meet industries' fresh water requirement, can also help the State Government meet public demand, according to industry representatives. The production and distribution facilities will have to be ...
SECL records 71-mt output
SOUTH Eastern Coalfields Ltd (SECL), a subsidiary of Coal India Ltd (CIL) has achieved the highest coal production of 71.01 million tonnes (mt) during the financial year 2003-04, up from 66.6 mt last year. The company's profits have also been ...
Plea to revamp export norms for powerloom sector
THE Powerloom Development and Export Promotion Council (PDEXCIL) has sought the removal of procedural difficulties relating to various export promotion schemes in the new Exim policy for 2004-07, as also a response to supportive policy ...
Govt must focus on reducing raw material duties, says CII
THE CII, in its pre-Budget memorandum, has said that there should be no further reduction in peak rate of Customs duty of 20 per cent in 2004-05. Instead, the focus should be on reducing the duties on inputs and raw materials. For example, ...
CONTRACEPTIVES & PROTECTIVES
New initiative to raise condom use
CONDOMS, the effective weapon to fight HIV/AIDS and keep population in check, have witnessed a decline in sales. A unique public-private partnership between the Health Ministry, ICICI Bank and the United States Agency for International ...
Decision on EPF interest rate deferred
THE Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO) chaired by the Union Labour Minister, Mr Sis Ram Ola, has deferred its decision on the interest rate payable to three crore subscribers of employees ...
Salem fabric bids fair to enter geographical Act
The unique `weave' pattern of the cotton yarn dyed woven fabrics has been cited as hereditary and identified with the region since 1942.
Sivaganga credit plan outlay
Orissa plans law for fast project approvals
The Act will prevent departments acting to protect their own turfs instead of getting on with their jobs.
In Thiruvananthapuram today
In Hyderabad today
EXPORTS & IMPORTS
Full restoration of 80HHC sought for export earnings
THE Tirupur Exporters Association (TEA) has petitioned the Finance Minister for full restoration of income-tax exemption on the export earnings under Section 80HHC to enable plough-back of profits on plant modernisation and technology update by ...
Congestion at JN port hits exporters, importers
EXPORTERS and importers in this region have been severely affected by the congestion that has clogged the Jawaharlal Nehru port, including the P&O-operated Nhava Sheva International Container Terminal (NSICT). The congestion has turned worse ...
KIMS health tourism packages
THE Thiruvananthapuram-based Kerala Institute of Medical Sciences (KIMS) has launched several health tourism packages targeted at the international market. The customised `medical treatment and leisure' packages were soft launched a few months ...
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