Financial Daily from THE HINDU group of publications
Wednesday, November 03, 2004

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Compensation formula on a state-to-state basis — Accord reached on VAT package
IN a major breakthrough towards ushering in a nation-wide value-added tax (VAT) system to replace the existing sales tax regime from April 1, 2005, the Finance Ministry has reached an agreement with State Governments over the compensation package ... More

Naresh Chandra panel for unbundling AAI
CALLING for "a bold and pragmatic approach" by all the authorities concerned to withstand competition in the civil aviation sector, the Naresh Chandra Committee has recommended complete unbundling of the Airports Authority of India (AAI) along ... More

Pvt operators asked to track ILD calls thru Reliance
BSNL has advised the operators to check the incoming traffic from May onwards. More

IndusInd Bank raises deposit rates; UTI Bank may follow suit
THE good news is that interest rates on deposits are finally starting to inch up. The bad news is that not all banks are prepared to pay more on deposits just yet. The private sector IndusInd Bank is the first to announce a 10-25 basis point ... More

Vinita Bali to head Britannia
MS Vinita Bali is the new Chief Executive Officer of the Nusli Wadia-managed Britannia Industries Ltd. Ms Bali, a former worldwide marketing director of Coca-Cola, will succeed Mr Sunil Alagh who made a controversial exit in April 2003. The ... More

Cement output, despatches up
THE four cement majors in the country have reported year-on-year increase in despatches and production during October. The increase in despatch varied greatly, ranging from 27 per cent in the case of Gujarat Ambuja, to 10 per cent in the ... More

Foreign airline stake in domestic carriers at a `later date'
THE Government could allow foreign airlines to pick up stake in domestic airlines at a later "yet-to-be decided" date. The Minister for Civil Aviation, Mr Praful Patel, hinted at this possible policy change of the Government at a function ... More

Robust earnings season keeps market positive
THE markets rallied for the second successive day, as the earnings season remained robust and international crude oil prices eased considerably. The BSE Sensex appreciated by 50.66 points (or 0.89 per cent) to close at 5754.76 points. In the ... More

Central Sales Tax regime to stay till 2005-06
BOTH Central Sales Tax (CST) and the Additional Excise Duties in lieu of sales tax (AED) will remain in their present form till 2005-06. This was an important decision taken at the Conference of State Finance Ministers here on Tuesday. In the ... More

Going for 3, 4-way mergers!
THE chief executives of public sector banks are faltering hopelessly in elementary mathematics. After dutifully repeating the equation `one plus one is equal to one' in the Finance Ministry-Reserve Bank of India organised classroom for mergers, ... More

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