Financial Daily from THE HINDU group of publications
Friday, March 31, 2006
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INDUSTRY & ECONOMY

TAXATION


Govt set to meet revised estimates for indirect taxes
The Government is well on course to achieving the revised estimate targets of indirect tax collections for 2005-06, a top Finance Ministry official said. The revised estimate for indirect tax collections for 2005-06 has been pegged at Rs ... More

States for increasing professional tax cap
Move would help them reduce revenue deficits, tax coverage More

Karnataka slashes VAT on cashew
The Karnataka Government has reduced value-added tax (VAT) on cashew kernels from 12.5 per cent to 4 per cent. Mr K. Prakash Rao, President of the Karnataka Cashew Manufacturers' Association (KCMA), told Business Line on Wednesday that ... More

Tax collection centres
The following designated branches under the Thiruvananthapuram Region of Syndicate Bank will be kept open beyond normal banking hours on March 31 (Friday) to facilitate payment of direct/indirect tax by the assessees. ... More

CLIMATE & WEATHER


`Australian cyclones augur well for Indian monsoon'
The prevailing scenario jells well with the weak La Nina conditions observed over the past few months. Weathermen see signs of good tidings ahead More

NRIS


ICICI Bank hikes FCNR deposit rates
ICICI Bank has raised the interest rates on FCNR deposits for all tenures and currencies, except the yen, by 25 basis points. The interest rate for one-year FCNR deposits denominated in dollars is 5.15 per cent (4.9 per cent), ... More

LVB raises FCNR deposit rates
Lakshmi Vilas Bank has effected an upward revision of the FCNR deposit rates for all currencies from March 29. The US dollar deposit with tenure of one and two years will now fetch interest at 5.15 per cent (4.90 per cent), ... More

PNB hikes FCNR(B) deposit rates
Punjab National Bank (PNB) has revised interest rates on its foreign currency non-residents (banks) scheme for the US dollar, pounds sterling, euro and Canadian dollar deposits with effect from March 29. A statement issued by the bank said that ... More

NON-CONVENTIONAL ENERGY


Fair winds
The district is a pioneer in windmill tower fabrication More

ECONOMY


UNIDO chief for sops to boost pro-poor growth
South-South centre in India set up More

GREENERY & GRANARY: A FOCUS ON TRICHY
Bursting with energy
With an impressive presence in the engineering sector, Tiruchi industries are upbeat on future growth. More

A beehive of industry and optimism
This fertile town with a hoary past is eager to share in the country's economic and industrial boom. More

DMK's manifesto
Within living memory there has been nothing that comes anywhere near the election manifesto of the DMK. It is an incredible cascade of bonanzas: One feels fazed and dazed by even a bare enumeration of the 36 ... More

Low on long-term vision for economy
The Budget is not merely an accounting function but must lay down the economic vision of the government to achieve long-term growth. More

Cabinet okays release of interest relief to farmers
The Cabinet today approved release of Rs 1,700 crore for providing interest relief on crop loans obtained by farmers for kharif and rabi 2005-06. The proposal for release of Rs 1,700 crore to provide interest relief of two percentage points in ... More

Dakshina Kannada credit plan at Rs 1,830 cr
About 74 pc has been allocated for the priority sector More

Bengal chamber spots thrust areas for development
Priority for scrapping land ceilings Act urged More

ENGINEERING


EEPC celebrates golden jubilee
The Engineering Exports Promotion Council (EEPC) today celebrated its golden jubilee with the Delhi Chief Minister, Ms Sheila Dixit, lighting the lamps. The EEPC, promoted by the Department of Commerce, now has more than 12,000 ... More

FOREIGN TRADE


REPORTER'S DIARY
`Bidding' for information
Corporate wars are no less than regular warfare where early information about the opponent's plans help strategise better. So, it was not surprising that Mr L. N. Mittal's `men' were all over the venue where the visiting Luxembourg's Minister for ... More

HEALTH


Positive action
Commercial sex workers took out a rally recently in Pune with powerful messages on AIDS prevention. More

Glaxo's patent on AIDS drug opposed
Lawyers' Collective cites technical, health grounds More

Health insurance premium may vary from one location to another
Geography, a key differentiator for pricing products: IRDA More

REPORTER'S DIARY
Endorsement for pan masala?
The Health Minister, Mr Anbumani Ramadoss, should take note. The Railway Minister, Mr Lalu Prasad, seems to be inadvertently promoting the consumption of pan masala. At a recent function near Jaipur to flag off the double-stack rail containers, ... More

HOTELS


Karnataka Hotels' assn wants luxury levy on actual charges
Hotels in Karnataka have urged the Government to revise its policy of levying luxury tax on the published room tariff and revert to the earlier practice of imposing it only on the actual charges collected by hotels from its customers. In a ... More

PSU


STC sees 33 pc rise in turnover
State Trading Corporation of India Ltd (STC) has signed a memorandum of understanding with the Ministry of Commerce for 2006-07. Dr Arvind Pandalai, STC Chairman and Managing Director, and Mr S.N. Menon, Commerce Secretary, on behalf of the ... More

PETROCHEMICALS


IOC flags off petrochem complex at Paradip
Indian Oil Corporation (IOC) has flagged off a 15-million tonnes per annum (MTPA) grassroots refinery-cum-petrochemicals project at Paradip in Orissa. The project, besides the 15-MTPA refinery, consists of facilities for production of ... More

PETROLEUM


Myanmar okays GAIL plan to buy stake in A-3 Block
The Government of Myanmar has approved a plan by GAIL India (Ltd) to own a 10 per cent stake in an offshore gas and oil project called the A-3 Block, the company said in a statement on Thursday. GAIL will buy the stake from South Korea's ... More

KRL mooring facility to be ready by May 2007
Three major contracts to be awarded early next month More

SSI


Power-driven pump units get more time for certification
The Government has given more time to units manufacturing power-driven pumps, designed to handle water, to obtain Bureau of Indian Standards (BIS) certification for getting SSI exemption for excise duty purposes. The Finance Ministry on ... More

WATER


Water scarcity hits parts of south Kerala
Depletion of the groundwater table due to indiscriminate sand mining, shrinkage in natural forest cover and reclamation of wetland and paddy fields has resulted in drinking water scarcity in several parts of southern Kerala. Probably for the ... More

RADIO/TV


Chennai tops in audio post-production job
Offers world-class facility, cheaper man-hours More

EDUCATION


Micro finance attracts high interest at B-schools
Growing involvement of banks in the sector More

Action plan for BITS
The upcoming BITS (Birla Institute of Technology and Science) 200-acre campus in Hyderabad will become the best of all BITS campus. The administration has chalked out a four-year action plan to make it the best, Mr S. Venkateswaran, ... More

Institute of Armament Tech to get autonomy, new name
To be re-christened Defence Institute of Advanced Technology More

Toonz 2D animation course
The Toonz Animation Academy has invited applications for admission into its new batch of 2D animation course commencing on April 10. Promoted by the Technopark-based Toonz Animation India, the Toonz Animation Academy also ... More

FOODS & FOOD PROCESSING


Business in banana country
The region is waking up to the potential in banana processing. More

BIS to certify food safety management system
The Director-General of the Bureau of Indian Standards, Mr S.P. Sharma, who begins a tour of Kerala next week, will announce the BIS certification scheme for Food Safety Management Systems (FSMS) in the country. The announcement will take place ... More

MEDICAL INSTITUTIONS & HOSPITALS


Trinity gets cardiac CT scanning equipment
The Trinity Hospital and Heart Foundation has installed cardiac CT scanning equipment that eliminates evasive coronary angiogram and helps mapping of the heart condition more accurately for early detection of any ailment. The cardiac CT ... More

INDUSTRY ASSOCIATIONS


Software industry told to innovate or perish
`Focus on market requirement' More

MINING & QUARRYING


CCEA clears Lakhanpur mine expansion
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved floating of tenders for the Lakhanpur opencast coal mining project's expansion plans in Orissa. Mahanadi Coalfields, which owns the Lakhanpur mines, plans ... More

CINEMA


K Sera Sera plans Rs 250-cr investment
To produce 20 Hindi films by 2008, hopes to grow topline at over 100 per cent More

NEWSPAPERS & PUBLISHING


Warburg picks 7% in Dainik Bhaskar
Global private equity fund Warburg Pincus is believed to have picked up seven per cent stake in Hindi newspaper Dainik Bhaskar for a consideration of Rs 150 crore. The Bhaskar Group and Warburg Pincus have reached an ... More

RURAL DEVELOPMENT


AP to launch Indiramma scheme tomorrow
The much-publicised Indiramma programme - an acronym for Integrated Development In Rural Areas and Model Municipal Areas - seeking to achieve integrated development of the State will be launched on Saturday. The Chief Minister, Dr Y.S. ... More

TRADE & LABOUR UNIONS


Traders take leave
LOCK, STOCK AND BARREL: Scene at Karol Bagh in the Capital on Thursday during the traders' bandh to protest against the sealing of shops in residential areas. ... More

EVENTS


Call for India, US partnership
It would be in the interest of both India and the US to partner with each other as India progresses on higher growth path, said the US Ambassador to India, Mr David C. Mulford, here on Wednesday. While speaking at the inauguration of the newly ... More

Ration dealers' meet
The All Kerala Retail Ration Dealers Association is organising a two-day State- level camp at CG Paul Nagar, Pala Osaana Mount on April 1 and 2. The Revenue Minister, Mr K.M. Mani, will inaugurate the camp.Prof K.V. Thomas, ... More

INCOME TAX


Clarification on tax exemption
The Finance Ministry clarified on Thursday that the tax benefits under Section 54EC of the Income-Tax law would not be available on long-term capital gains that are invested on or after April 1, 2006 in the bonds of Nabard, National Housing Bank ... More

EXPORTS & IMPORTS


Indian tea to gain on rising Kenyan prices
Exports to Pakistan, Egypt to gain significantly More

`Stop imports of fruits, vegetables'
`While import of farm products are on the rise, exports are declining' Farmers' body plea to Centre More

NATURAL CALAMITIES


A creative outlet
Tsunami-affected teenagers in Nagapattinam don the director's cap, as part of an NGO's media project. More

ECONOMIC OFFENCES


`Adulteration rampant in edible oils'
INDUSTRY BODY'S CHARGE More



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Micro finance attracts high interest at B-schools


Conduct code for banks selling OTC derivatives

Ginger prices fall on higher supply

Govt set to meet revised estimates for indirect taxes

Indian tea to gain on rising Kenyan prices

`Adulteration rampant in edible oils'

Infosys joins SEC's pilot project

In Focus

Infrastructure woes stare IT sector
IPO Scams
FDI in retail sector
Dynamic Tirupur
Surging Sensex
Gold scaling new highs
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In Depth

Orissa Diary
Gender Justice
Simple Economics
Tax Talk
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Looking back
Mar. 19-Mar. 25
Energy projects: ITC to apply for carbon credits

Reliance to focus on marketing products thru its own outlets

Tax revenues of VAT States up 16 pc in April-Jan

How Kutch Rail reduced project cost

Mangalore SEZ bets on big funds

The phenomenon of exploding imports

Iran gives first price offer of $6 mBtu for gas

Tata Power plans 2 coastal plants in Maharashtra

Bharti in talks with Wal-Mart, Tesco for retail foray

Centre gets powers to rebate service tax

IPO: BSNL invites bids for advisors

Asset prices worry RBI

IDFC, Feedback launches infrastructure initiative

MetalJunction plans coal futures auction

UB, Millennium Alcobev merger not for now

Ansal Properties signs pact with Malaysia's Faber Group

Upper Siang project likely to be relocated on Chinese concerns

Gross small savings collections up

Gross small savings collections up

Telecom FDI norms deadline extended

Pvt cos earn more than States' spend

RPL to set up two SBMs at Jamnagar

`Refining capacity to touch 210 mt by 2012'

No guarantees for ultra mega power projects

ECGC unveils scheme to provide credit risk cover



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