The Hindu Business Line : Wednesday, March 01, 2006

Banks to cut lending rates on farm loans
The Finance Bill 2006/2007 proposals to boost the flow of credit into the agriculture sector is being seen as a welcome measure as agriculture lending is a profitable venture, bankers said. The Finance Minister Mr P. Chidambaram has said that ... More

AWARDS & HONOURS

Harrisons Malayalam bags 6 awards
The final tea tasting session of the second edition of `The Golden Leaf India Awards: Southern Tea Competition' organised at the Dubai Tea Trading Centre came to a close with Harrisons Malayalam Ltd ... More

BUDGET

Short-term credit at 7 pc — Farmers to get from kharif season
The Union Budget has proposed to make available short-term credit to farmers at seven per cent, for which it would provide subvention to Nabard. "Government has decided to ensure that the farmer receives short-term credit at seven per cent, ... More

Priority in lending to food sector — Rs 1,000-cr corpus for refinancing loans
In an attempt to provide an impetus to the food processing industry, the Finance Minister, Mr P. Chidambaram, today announced that food processing would be treated as a priority sector for bank credit. Mr Chidambaram said the National ... More

Going the extra mile for the farmer
Projects that could make a difference to Rural India have been placed in the limelight. The government has been liberal in scaling up fund allocation and hopes this will improve the well being of the farmer. More

Hails nod for tea protection fund
Mr Deepak Khaitan, Vice-Chairman of Mcleod Russel India has welcomed the Union Finance Minister's formal approval of the special tea protection fund adding he has assured allocation of Rs 100 crore for ... More

Cheer for Jain Irrigation Systems
The Union Budget 2006/2007 proposals bring cheer to one company - Jain Irrigation Systems Ltd. Every business that the company is involved in has got some sops in the Finance Bill. The company is present in drip irrigation, food processing, ... More

Jute industry upset
The jute industry is not at pleased with the Union Finance Minister, Mr P. Chidambaram's Budget announcements on the sector. According to the industry leaders, these are nothing new because the proposal to create a National Jute Board was ... More

Sugar sector feels let down — `No measures on de-control'
Sugar industry felt a bit let down by the Union Budget placed on Tuesday because the Finance Minister, Mr P. Chidambaram, did not take step towards decontrolling the sector. Mr C.S. Nopany, President of Indian Sugar Mills Association (ISMA), ... More

Customs duty hike — Vanaspati industry disappointed
Imported oils could now become dearer by Rs 1,000-1,200 a tonne More

5 pc hike likely in landed cost
The landed cost of major non-ferrous metals including copper, nickel, zinc and lead metal is likely to increase by about 5 per cent, despite the 2.5 per cent basic customs duty cut proposed in the Union Budget 2006-07. The Finance Minister, Mr ... More

Full credit on the farm front
Bankers need not wear long faces over the Budget proposal to fix the price of short-term credit (up to three years) to farmers at 7 per cent on loans up to Rs 3 lakh as New Delhi could be taking the losses, if any. More

Wah! Budget
The tea industry, which has been beleaguered by low prices, has been offered a ray of hope. Although the package for re-plantation and rejuvenation of tea was announced in the previous Budget, it did not take off. The ... More

`A boost to replantation'
The decision to invest Rs 100 crore by Union Government would boost replantation activity. Reduction of customs duty on packaging items from 15 per cent to 5 per cent would help us to innovate and create new avenues for ... More

Priority sector status hailed
The food processing sector is getting sufficient importance at the Central level and can change the face of the rural India, if given a right direction, according to Mr Pradeep Chordia, Managing ... More

`Greater credit flow likely'
This is the first-ever Union Budget that has focused attention on food processing and food technology. For some time now the food processing sector has required a renewed measure and formalised approach, which the ... More

Rice processing
Rice processing companies, such as Satnam Overseas, Lakshmi Overseas and KRBL may benefit from "priority sector" status to the food processing industry. NABARD is also to create a Rs 1,000 crore window for providing ... More

Cheer for Jain Irrigation Systems

RUBBER

Steady trend in rubber
The budget day witnessed an almost steady trend in spot rubber prices in the absence of any trend setting factors. Slightly weak Japanese futures indices kept the domestic sentiments dull NMCE March ... More

OILSEEDS & EDIBLE OIL

Boost for soya
The reduction in excise duty on Textured Vegetable Protein could expand profit margins for marketers of branded soya chunks such as Ruchi Soya and Marico Industries. The product is already seen as a meat protein ... More

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