The Hindu Business Line : Saturday, July 17, 2004

CLIMATE & WEATHER
Monsoon scene mixed, not as bad as 2002
There is no countrywide drought developing this year similar to the kind seen in 2002. More

BUDGET
RBI's Budget assessment `largely favourable': Chidambaram
THE Finance Minister, Mr P. Chidambaram, on Friday said the Reserve Bank of India's assessment of the Union Budget for 2004-05 was "largely favourable." Speaking to reporters after the customary post-Budget meeting with the RBI Central Board, Mr ... More

CONSUMER ELECTRONICS
Consumer electronics industry seeks correction of duty anomalies
THE domestic consumer electronics (CE) industry has urged the Government to correct the existing anomalies in the duty structure to allow the sector enjoy a smooth innings despite competition. In its post-Budget recommendations, the industry, ... More

ECONOMY
Gulf boom fuelling replacement migration: Study
By accepting low wages and poor living conditions, workers from other States are taking away a lot of work that should have gone to resident workers. More

High-income class expanding fast: NCAER report
ACCORDING to a soon-to-be-published report of the National Council for Applied Economic Research, Delhi (NCAER), the `India Market Demographic Report for 2002', India's high-income class is expanding fast, middle-income classes are bulging in ... More

Inflation at 24-week high of 6.16 pc
INFLATION rose to a 24-week high of 6.16 per cent for the week ended July 3. The surge was mainly on account of the aviation turbine fuel (ATF) turning costlier, along with a rise in the prices of manufactured items. Reacting to the rising ... More

AP gets Rs 1,200 cr from LIC
HYDERABAD: The State Government has obtained Rs 1,200 crore from LIC of India for `debt swap' for loans taken from the Nabard and others at a higher rate of interest of 7 per cent, the Finance Minister, Mr K. Rosaiah, informed the State ... More

ENVIRONMENT
Deadline extended for emission limits in diesel generators
THE Ministry of Environment and Forests has extended the noise and emission limit compliance date for certain sections of diesel-based generator suppliers provided they have met three conditions laid down by the Ministry. The suppliers of ... More

FOREIGN TRADE
Italy keen on expanding trade ties
A `Sportello Unico' — a window to disburse information and assistance to businessmen in their dealings with Italian companies — is to be set up in Kolkata soon. More

INFRASTRUCTURE
World Bank to hike funds for urban projects in AP
THE World Bank has in principle agreed to increase the funding for the Andhra Pradesh Urban Development Project from $100 million to $300 million. An appraisal team from the Bank is also expected to visit the State during August 2004, the State ... More

POWER
India Insure arranges hydrology cover for Malana Power
`INDIA Insure', an insurance broking firm has arranged `Hydrology Risk' for the Malana Power Company. The insurance cover has been facilitated by ICICI Lombard General Insurance Company and the policy has been placed for coverage of Rs 10 ... More

NTPC offering may be delayed beyond August
THE Disinvestment Department will start consultation process next week for clubbing the offer for sale of 5.25 per cent of the Government's equity in National Thermal Power Corporation (NTPC) with the initial public offering (IPO) proposed by the ... More

TAXATION
Clarification on transaction tax on Monday
THE Government is likely to come up with clarifications on Monday in the matter of the 0.15 per cent securities transaction tax that has been proposed in the Union Budget. ``I will clarify the position on Monday when I reply to the discussion ... More

States moot 3-slab VAT structure
STATES are set to do a rethink on the basic tax structure under the proposed value-added tax (VAT) regime. A meeting of the Empowered Committee of State Finance Ministers will take up on Saturday (July 17) a proposal to shift from the scheduled ... More

TEXTILES
Bangladesh calls for strategic tie-up in textile sector
BANGLADESH has called for a strategic alliance with India in the textiles sector post-MFA to combine the available synergies of the two countries for emerging as competitive entities in the global market. Talking to newspersons here on Friday ... More

EDUCATION
A yen for correction spells orders for KG Info unit
WHAT started as a casual acquaintance has, over the years, grown into a business alliance for KG Information Systems Private Ltd (KGISL). The company's BPO division is now extending `English correction services' for a Japanese ... More

CBS, Birla Institute in academic tie-up
THE Australia-based Chifley Business School (CBS) has entered into an academic collaboration with the Birla Institute of Management Technology (BIMTECH), New Delhi. Students of BIMTECH, pursuing a post-graduate diploma in Entrepreneurship & ... More

GEMS & JEWELLERY
Central fund to brand jewellery for exports
IN a bid to showcase Indian gem and jewellery across the world, the Centre will allocate a `brand development support fund' for the industry in its foreign trade policy proposal to be tabled in few weeks. "We have designated gem and jewellery ... More

INDUSTRY ASSOCIATIONS
KCCI meet on development of Dakshina Kannada, Udupi districts
MEMBERS of the Kanara Chamber of Commerce and Industry (KCCI) discussed issues such as problem-free taxation structure and problems of small-scale industries, with the Leader of the Opposition in the Karnataka Legislative Council, Mr D.H. ... More

WATCHES & ACCESSORIES
Excise duty hike puts watch industry in a bind
THE domestic watch industry is in a quandary after the doubling of excise duty to 16 per cent on watches priced below Rs 500 in the Union Budget. Being a very price sensitive segment, none of the companies are revising prices of their products ... More

IPR
Patents office ready to grant EMRs
THE Controller General of Patents, Designs and Trade Marks, Dr S.N. Maity, has said that his office was open to offering exclusive marketing rights (EMRs) to the Indian companies that possess patents. Inaugurating a two-day workshop on Managing ... More

HUMAN RESOURCES
Assocham sets up panels on labour issues
THE Associated Chambers of Commerce and Industry of India (Assocham) had decided to set up two committees to recommend solutions to the Government on labour-related issues. The committees will be making recommendations in matters relating to a ... More

SOCIETY & DEVELOPMENT
Pvt sector asked to help rural entrepreneurs
THE Government called upon the private sector to extend its technical know-how to rural entrepreneurs in evolving an effective mechanism of designing, finishing and marketing products. At a seminar organised by the Confederation of Indian ... More

EXPORTS & IMPORTS
As domestic, global price band widens — Rubber imports under OGL could turn viable
THE widening price difference between natural rubber prices in the domestic and international markets has reached such an extent that it looks cost-effective for consumers to import rubber even under the open general license (OGL), after paying ... More

Exporters want Centre to rebate input-stage VAT
THE Federation of Indian Export Organisations (FIEO) has suggested that the Central Government should rebate all input-stage value added tax (VAT) that would be paid by the exporters in the manufacture of finished goods exported by them. All ... More

TOURISM
Bid to package Durga Puja as tourism event
AN effort to package the Durga Puja festival of West Bengal and sell it as an event to the overseas tourist is being planned by the Union Tourism Ministry. The concept has been launched by `Happenings' — a small group of city-based ... More

ECONOMIC OFFENCES
Panel to probe HiTec City land deal with L&T
THE State Government will constitute a Cabinet sub-committee to probe the alleged irregularities in the allotment of land worth crores of rupees to L&T in the development of the HiTec City in Madhapur. The committee will also examine various ... More