ECONOMY
`Spending forex reserves not a good idea'
IT is not a good idea to spend out of a country's foreign exchange reserves, feels Lord Meghnad Desai, economist and Director, Centre for the Study of Global Governance, London School of Economics. Lord Desai said this in response to a question ... More

`Govt committed to implementing finance panel suggestions'
THE Government is fully committed to implementing the recommendations of the 12th Finance Commission, according to the Union Finance Minister, Mr P. Chidambaram. Replying to a debate on the Supplementary Demand for Grants (General) for 2004-05 ... More

`Poverty-free South Asia not an impossible dream'
DESPITE gloomy poverty statistics staring at the South Asian nations, a poverty-free South Asia is not "an impossible dream", according to a report of the Independent South Asian Commission on Poverty Alleviation (ISACPA). Releasing the second ... More

World Bank's commandments on State reforms
A WORLD Bank report has come out with 13 commandments to enable State Governments and the Centre to continue with fiscal reforms to achieve development goals. The report is based on a study of 16 States, other than the North East, Union ... More

M.P. annual Plan outlay fixed at Rs 7,471 cr
THE annual Plan of Madhya Pradesh for 2005-06 has been fixed at Rs 7,471 crore that includes one-time additional Central assistance of Rs 60 crore, against the current fiscal year approved Plan size of Rs 6,709.96 crore. This was decided here ... More

ENGINEERING
Coimbatore wet grinder industry hopeful of 20 pc growth by 2007 — Seeks distinct identity
The Central Government is funding the Rs 36-lakh cluster development project... and the three-year project would run from 2004 to 2007. More

ENVIRONMENT
Sewage treatment plants designed for houseboats
HELP is at hand for houseboat operators looking to manage the sewage produced onboard their boats. The Thiruvananthapuram-based Transdot Pvt Ltd has introduced sewage treatment plants designed specially for houseboats. Addressing a press ... More

PHARMACEUTICALS
Indoco chief is new IDMA president
THE Indian Drugs Manufacturers' Association (IDMA) has a new President — Mr Suresh G. Kare, Chairman and Managing Director of Indoco Remedies Ltd. Besides the President, the IDMA's governing body also elected vice-presidents for four ... More

`Drug affordability key issue for Govt'
THE major concern for the Government in the drugs and pharma sector is to ensure supply of affordable medicines, especially with the implementation of the WTO regime from January. It is, therefore, imperative that the development of the pharma ... More

STEEL
Kerala steel manufacturers demand continuous power supply
THE Steel Manufacturers Association of Kerala has demanded the State Government to provide uninterrupted power supply as promised in the Industrial Policy 1992 for the smooth functioning of several steel industrial units in the State. The ... More

TAXATION
`VAT key to revenue reform'
THE Lead Economist of the World Bank's Delhi Office, Mr Stephen Howes, has said that shifting to value-added tax would be among the single-most important revenue reform for States. At a workshop here on Tuesday, he said all State Governments ... More

TEXTILES
Cotton mills seek lower customs duty on man-made fibres
THE Indian Cotton Mills Federation (ICMF) has asked the Government to lower the customs duty on all man-made fibres and their intermediaries from the prevailing 20 per cent to at least 10 per cent, in light of the "near monopoly" situation in ... More

SSI
AP Govt plan for reviving sick SSIs soon
THE Andhra Pradesh Government is planning to come out with a revival package for sick small-scale units in the State. The SSI rehabilitation policy, which would be implemented next year, would bring in several stakeholders in order to study the ... More

WATER
Packaged water units' plea
MADURAI: The Central and State Governments should standardise the prices and ensure transparency in norms, the manufacturers of packaged drinking water with the Bureau of Indian Standards (BIS) Certification, have urged. According to Mr ... More

COAL
Coal India production target hiked to 332 mt
PRODUCTION target for Coal India Ltd (CIL) has been raised for the current year to 332 million tonnes from 315 million tonnes. Also, in order to reduce the demand supply gap for coal in the next few years, the Government has initiated a ... More

RADIO/TV
IGNOU gets nod for FM radio
MADURAI: The Union Ministry of Information and Broadcasting has given licence to the Indira Gandhi National Open University (IGNOU) to start and run `Gyan Vani' FM radio station in Madurai for broadcasting educational programmes within a ... More

EDUCATION
IIT-M alumni to catch up with old times
ON December 28, over 100 old students of the 1979 batch of the Indian Institute of Technology Madras (IITM) would be landing at the institute's campus in Adyar, Chennai from all over the world to catch up with old times and for three days of fun, ... More

CARS
`Emotive reasons prompt 50 pc of car purchases'
EMOTIVE reasons such as `potency, prestige and status' prompt the buying decision of over 50 per cent of car buyers in India, according to TNS' `2004 four-wheeler Brand Health and Need Segmentation' study. "Contrary to the belief that prestige ... More

HCV/LCV/TRACTORS
Tractor industry fortunes on the upswing
DESPITE a sub-normal monsoon this year, the domestic tractor industry is clearly on a revival path. According to industry data, the industry grew by 42.56 per cent in the April-October 2004 period to 1,40,181 units from 98,327 units in the ... More

MEDICAL INSTITUTIONS & HOSPITALS
MMM ties up with Sri Lankan hospital
Under the agreement, doctors from MMM will perform paediatric surgeries at Navaloka. The agreement was firmed up about a month ago and last week doctors from MMM performed six operations on babies in the six months to one-year age group, Dr ... More

SCIENCE & TECHNOLOGY
Antrix, Measat form jt venture to pool satellite capabilities
THE Indian Space Research Organisation and Malaysian counterpart MEASAT Global Bhd have decided to form a 50:50 joint venture to promote their satellite capabilities in the Asia-Pacific region, the ISRO said on Tuesday. An agreement signed in ... More

RURAL DEVELOPMENT
AP Govt to hold talks with banks on training youths
THE Minister for Rural Development and Employment Generation, Mr D. Srinivas, has said that the State Government would speak to banks to discuss the Andhra Bank model of training rural youth. Addressing members of several self-help group ... More

AP CM launches tribal development project
THE Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, inaugurated the `Giripragathi' project, a new initiative for tribal development in the State, here on Tuesday. The Rs 89-crore project is being partly financed by the MP Local Area ... More

Nabard sanctions Rs 240-cr loan for AP rural road projects
HYDERABAD: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 240 crore as loan assistance to the Andhra Pradesh Government for implementing rural roads and rural water supply projects in the State, under ... More

EVENTS
TNCCI to organise seminars
MADURAI: The Tamil Nadu Chamber of Commerce and Industry is organising two seminars on `Role of Family Members in Business' and `Investment Opportunities in Herbal Business and Buyer-Seller Meet' on December 22 and 23 respectively as part ... More

ICSI seminar in Hyderabad
HYDERABAD: The Institute of Company Secretaries of India (ICSI) is organising a national seminar on `Liabilities of Directors under Corporate Laws' here on Wednesday. The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, will ... More

ENTREPRENEURSHIP
ISB unveils `K-Hub' for SME techies
AIMED at helping the entrepreneurs in the small and medium enterprise (SME) segment from conception to commercial stage, Indian School of Business (ISB), the Hyderabad-based premier management institution, has unveiled `K-Hub' (Knowledge Hub). ... More

INCOME TAX
Tax planners provide third-best returns
EQUITY-linked savings schemes (ELSS), as the tax-planners are officially known, have delivered returns that put them just a couple of notches lower than technology and pharmaceutical funds, the two highest scoring categories over a one-year ... More

EXPORTS & IMPORTS
Cardamom export may touch 1,000 t this fiscal
CARDAMOM export from the country is expected to touch 1,000 tonnes this fiscal against the target of 750 tonnes set by the Spices Board. Indications are that demand for Indian cardamom from overseas markets would go up as arrivals from the ... More

US confirms dumping levy on Indian shrimp
THE US Commerce Department has imposed a final anti-dumping duty of an average 9.45 per cent on shrimp imports from India. Seafood exporters in the country got a breather, as the final duty is lower than the 14.2 per cent duty the Department ... More

Duty cut on seafood leaves exporters happy
THE decision of the US authorities to reduce the anti-dumping duty from 14.2 per cent to 9.45 per cent on the seafood exports from the country has been welcomed by the local seafood exporters. At a press meet here on Tuesday, Dr K. Hari Babu, ... More

Refined soyabean oil imports spurt on low global prices
INDIAN importers used to contracting for crude de-gummed soyabean oil are now shifting to refined soyabean oil following a fall in international prices. For 2004-05, world soyabean production is expected to reach a new high of 230 million ... More

TOURISM
Travel trade hoping Malaysia will introduce visa on arrival
THE travel trade in India is hoping that Malaysia will announce visa on arrival facility for all Indian tourists so that tourism between the two countries will grow. The trade is waiting for such an announcement now, especially since the ... More

Tourist arrivals in J&K on the rise
AFTER a gap of 10-12 years domestic as well as foreign tourists are flocking to Jammu and Kashmir, and there has been a substantial increase in the number of tourists visiting the region in the last 12 months, according to Mr Jugal Kishore, ... More