The Hindu Business Line : Saturday, February 24, 2007

BUDGET
Medicines as `merit' goods
"After the sulk feeling of being relatively left out in Budget 2006, the pharma and biotech players are hoping that Budget 2007 will address their key demands," says Mr Hitesh Sharma, Partner, Ernst & .. More

A roadmap to goods and services tax
The Centre may have to bring down the service tax rate under CGST from 12 per cent to 10 per cent. In order to preserve the autonomy of the States, the core SGST rate should be taken as a floor rate. More

Budget may prune excise duty on man-made fibre
The textile sector is likely to see excise duty relaxation on man-made fibre products and Customs duty reduction for textile machinery imports. The popular Technology Upgradation Fund Scheme (TUFS), which was to expire in March this year, is ... More

Allow DFIs to access
One of the instruments for mobilising low-cost funds by development finance institutions (DFIs) for their refinance operations was through the Capital Gains Bonds (CGBs). Nabard was able to mobilise and deploy Rs 13,596 crore through this ... More

Restructure MAT
The countdown to the Budget 2007 has started and the financial press has begun its own quota of stories and speculation. Will major incentives be withdrawn? Will corporate tax rates be cut? Will fringe benefit tax be removed? Will the India ... More

Allow deduction for foreign subsidiary losses
With M&A (mergers and acquisitions) on the increase, across sectors, what can one look forward in the forthcoming Budget? "The benefit under Section 72A of the Income Tax Act for losses of amalgamating company is available only to certain ... More

M&A tax benefits should be extended to entire service sector
In the case of merger/ demerger, there are ambiguities in relation to continuance of tax holidays under Sections 10A/ 80IB and so on, because of the typical language of the provisions. MR AMRISH SHAH, EXECUTIVE DIRECTOR, PRICEWATE RHOUSECOOPERS. More

No fresh taxes proposed in surplus Gujarat Budget
Tax relief worth Rs 400 cr given; electricity gets big relief More

CEMENT
Supply gap behind rise in cement price: Chidambaram
The Finance Minister, Mr P. Chidambaram, has indicated that there may not be any let-up in cement prices in the near term in the light of demand outrunning cement capacities in the economy. "Cement companies are working to near capacity. Demand ... More

Cement stocks turn weak on fear of some harsh measures
Talk of export ban, raising excise duty dulls sentiment More

COURTS/LEGAL ISSUES
Novartis case: Conversion of writ petitions referred to CJ
A Division Bench of the Madras High Court, which has been hearing a batch of petitions by Norvartis AG against challenging the rejection of its patent application by the Assistant Registrar for beta crystalline form of imatinib mesylate, ... More

ECONOMY
Markets slump on inflation concerns
Panic selling by retail trade More

Govt will take steps to contain inflation: Kalam
Lists out Centre's initiatives to improve essential commodities supply More

Inflation rate marginally lower at 6.63%
More

Orissa annual Plan at Rs 5,105 cr
The annual Plan of Orissa for 2007-08 has been pegged at Rs 5,105 crore, inclusive of additional Central assistance of Rs 80 crore for projects of special interest to the State. This was decided at a meeting here between the Planning Commission ... More

Manufacturing, services growth boost economy
The Indian economy registered a growth rate of 9.1 per cent during the first half of 2006-07, with the GDP recording a growth of 9.2 per cent in the second quarter compared to growth of 8.4 per cent in the corresponding previous period. The ... More

ENGINEERING
Trade with ASEAN may surpass $30 b by year-end
Eight-fold rise witnessed in 12 years; doubling of exports in 2 yrs More

EXCISE AND CUSTOMS
Petroleum products account for major part of Mangalore excise collection
Total collection at Rs 3,220.89 cr in first 10 months More

FOREIGN TRADE
Australian trade team coming
A 50-member delegation from Australia led by the Minister for Trade, Mr Warren Truss, will be in India next week to participate in the 16th Joint Business Council, according to a press release from the Australian High Commission. The delegation ... More

HEALTH
Spandana reaches out to children with heart ailments
Spandana, a non-profit organisation set up by Mr N. Prasad, Vice-Chairman and Managing Director of Matrix Laboratories, has joined hands with Care Hospitals for helping children suffering from heart problems. Speaking to newspersons on Friday, ... More

INFRASTRUCTURE
India is sometimes called the `build-forget-rebuild' economy
The Finance Minister must provide incentives to private companies to engage more in public-private partnerships in infrastructure projects, such as roads, ports and airports. DR SUNIL RONGALA, GROUP ECONOMIST, MURUGAPPA GROUP. More

CII suggestions to build infrastructure
Calls for renewed focus on infrastructure regulation More

Infrastructure loans: Banks want promoters to stay put
Other covenants such as debt-equity ratio can be relaxed More

PETROLEUM
January crude output up 4.7%
The country's crude oil output increased by 4.7 per cent in January compared with the corresponding period last year. However, the natural gas output fell by 1.2 per cent to 2.749 billion cubic metres during the month under review. Exploration ... More

Infrastructure status sought for gas pipelines
`Tax benefits will result in lower tariffs to consumers' More

India, Australia plan to boost ties in hydrocarbon sector
More

IndianOil Petronas to handle more LPG through Haldia
Second jetty to be completed next month More

POWER
Panel moots pruning of interest rates for Dabhol
Minimising cost overruns More

STEEL
`Steel prices set to go up after Budget'
Steel cos abroad have raised prices by 3-5% across the board More

RADIO/TV
`Tata Sky set to reach top slot by August'
DTH service is also likely to become more affordable More

Airtel ties up with Star Vijay
Mobile service provider Airtel has tied up with Tamil channel Star-Vijay to co-brand and promote its new reality show `Super Singer Junior' that targets children aged 6-14 years. The show is aimed at spotting singing talent among children of this ... More

NDTV's new CEO appointments
NDTV today announced three key appointments to head the group's new growth ventures. Mr Vikram Chandra had been appointed as the CEO and Managing Director of NDTV Networks Plc, a 100 per cent subsidiary incorporated in the UK. Ms ... More

CNBC Awaaz to launch new talent show
As TV news professionals and anchors rapidly join the ranks of celebrities with their own set of starry-eyed fans, CNBC Awaaz is launching a talent show called Khud Par Karo Yakeen to spot women with a flair for news ... More

EDUCATION
SCMS organises meet
The School of Communications and Management Studies (SCMS) is organising its two-day interactive seminar, Isthmus '07, on February 23 - 24 at its Kochi campus. More than a dozen industry leaders from marketing, human resource ... More

E-campus of management institute
The e-campus of Justice K.S. Hegde Institute of Management will be inaugurated at Nitte in Udupi district on February 26. A release from the institute said on Friday that Prof Les Ebdon, Vice-Chancellor and CEO of Bedfordshire ... More

LEATHER
Leather show
A VISITOR looking at the designer products at the 12th International Leather Goods Fair in Kolkata on Friday. Over 50 international and domestic participants have displayed their products at the ... More

IPR
`We need to evolve our own set of distinctive intellectual property norms'
A few days ago, the Dr R.A. Mashelkar-headed expert committee on Patent Law decided to withdraw its report. Reason: "Technical inaccuracy and plagiarism." The committee, set up in April 2005, looked into two issues that arose during ... More

EVENTS
`India likely to invest $650 b in energy sector over 25 years'
`Subcon 2007' expected to generate Rs 75-100 cr biz More

EXPORTS & IMPORTS
Rice bran exports resume from Kakinada
Rice bran exports from Kakinada anchorage port have resumed after several years, even though paucity of storage space and steel barges is proving to be a hindrance. At one time, rice bran exports used to account for more than half of the total ... More

TOURISM
West Indies rolls out red carpet for India Inc
CRICKET & BUSINESS More