The Hindu Business Line : Tuesday, June 23, 2009

INDUSTRY & ECONOMY

PSU: AI targets Rs 500-cr wage cost reduction
Panel to submit report by July 15 to CMD. Air India is targeting a reduction of almost 17 per cent or Rs 500 crore of its annual wage bill of more than Rs 3,000 crore. The airline is passing through a severe financial crisis, losing almost Rs 15 ...

DISINVESTMENT: United Bank plans IPO in Dec to mobilise Rs 300-400 cr
Kolkata, June 22 United Bank of India plans to hit the capital market by December-end with an Initial Public Offering to mobilise Rs 300-400 crore, according to its Chairman and Managing Director, Mr ...

PHARMACEUTICALS: Pharma industry seeks incentives for research
4% excise duty on finished drug forms must continue. Mumbai, June 22 Research undertaken to develop medicines is different from research in any other industry segment, say pharma industry representatives in their pre-Budget wishlist to the ...

CARS: Auto makers shift gears on completely built units
Either defer launches or make shipments only on confirmed-order basis. New Delhi, June 22 Auto makers are shifting their strategy on import of completely built units as sales for many of the models have fallen in the first five months of the ...

SOCIAL WELFARE: Maveli stores to come up in all Kerala panchayats
The Kerala Government is set to open Maveli stores in grama panchayats that do not have the facility at present, according to the Minister for Food and Civil Supplies, Mr C. ...

BUDGET: Increase FDI limit in insurance sector
A higher foreign direct investment (FDI) will unshackle the insurance industry and drive growth and long-term development, enrich the business by bringing world-class business practices and processes, expand distribution capabilities and ...

BUDGET: Give thrust to education sector
Education and training sector has not received the attention it deserves. Hopefully, the Budget will ensure the following 3Ps for ...

AUTOMOBILES: Auto sector open to excise duty cuts for local hybrids
Not for direct imports that could pose threat in domestic market. Mumbai, June 22 The automobile industry could be committed to the cause of clean air but when it comes to incentives on hybrid cars, the majority view is that these should be ...

BUDGET: Privatise state-owned entities
I expect announcements relating to restructuring/divestment/privatisation of state-owned enterprises and opening up of more sectors for foreign investments. As the Government passes on the responsibility of running business enterprises, I ...

FOODS & FOOD PROCESSING: Food processing will raise rural jobs, says Sahay
New Delhi, June 22 The Minister of Food Processing Industries , Mr Subodh Kant Sahay, reiterated the need to give the food processing sector a 10-year tax holiday, on Monday. Mr Sahay was the chief guest at Confederation of ...

BUDGET: Remove tax exemption cap on SSIs
Entrepreneurship should not be killed by keeping limitations. Currently, SSI units are exempted from paying excise duties up to Rs 1.5 crore. Successful units cannot grow beyond Rs 1.5 crore. Even as the metal prices have gone up, the ...

BUDGET: Raise limits for TDS
The limits for which tax has to be deducted at source for various payments have to be enhanced. The limits specified in many of these sections were fixed years ago. Now considering the inflation and other factors, these limits have to ...

BUDGET: Restore standard deduction
Standard deduction facility which was available to individual tax payers has been withdrawn some time ago. This must be restored to be on par with business class who have similar facility by way of depreciation.Dearness allowance is ...

POWER: Meet on capacity power addition
The Union Power Ministry has called a meeting of State Power Ministers on Tuesday to discuss issues related to the progress on the 78,700 MW capacity addition programme under execution during the current plan period (2007-12). Convened by the ...

BUDGET: Introduce free medical insurance for the poor
The main problems faced by the elders are neglect and age-related ailments. The Budget should introduce free medical insurance scheme for the poor, so that they could get quality medical service. Most of the elders are left out of ...

SOCIAL SECURITY: ESIC Act may be amended
The Minister for Labour and Employment, Mr Mallikarjun Kharge, said that the benefits of the Employees State Insurance Corporation (ESIC) scheme will be extended to the unorganised workers. The Minister was speaking at the inauguration ...

ENTREPRENEURSHIP: Entrepreneurship programme
Maditssia Business Information Centre is organising an awareness programme on entrepreneurship development for unemployed youths on June 27. According to Mr N. Somasundaram, President, Maditssia, the programme will deal with preparation of ...

POWER: Lanco unit starts Himachal project
Lanco Infratech Ltd has informed the BSE that Baner-III (5 MW) small hydro project in Dharmshala (Himachal Pradesh) was successfully commissioned by Vamshi Hydro Energies Pvt Ltd, a subsidiary of the company, and it has started ...

BIO-TECH & GENETICS: Greenpeace activists barge into Bayer field trial site
Activists of Greenpeace, a global non-governmental organisation that takes up environmental issues, today barged into a Bayer Crop science field trial site here, protesting against herbicide-resistant ...

SCIENCE & TECHNOLOGY: Manned missions a priority: Madhavan Nair
Kochi, June 22 Close on the heels of the Chandrayaan mission, the Indian Space Research Organisation is gearing to undertake missions to the Moon and to Mars, the ISRO Chairman, Mr G. Madhavan Nair, has ...

PSU: Govt may decide on Maharatna status of PSEs in three months
New Delhi, June 22 The Government intends to finalise the names of public sector enterprises which will be given the ‘Maharatna’ status in the next two to three ...

FOREIGN TRADE: Tunisia offers opportunity for Indian textile investments
Tunis (Tunisia), June 22 Hit by the downturn in the US market, Indian textile and garment players are eyeing a bigger chunk of the EU market to tide over the slump in exports. Access to the EU market through countries such as Tunisia in ...

RURAL DEVELOPMENT: Indian Bank keen to promote micro finance
Mr Subramanian said the bank would open 100 more branches during the current financial year and already 50 licences had been obtained. "Last year, we opened 101 branches. We are reaching out to even remote rural areas. All our branches are ...

NON-CONVENTIONAL ENERGY: Solar power push
...

SSI: Plea to revive major industry in Tuticorin
Madurai, June 22 Thuthukudi District Tiny and Small Scale Industries Association (Thuditssia) has called for steps to develop small-scale industries in ...

PETROLEUM: Govt under pressure to hike petrol, diesel prices
New Delhi, June 22 With volatility in global crude prices, the pressure is mounting on the Government to review auto fuel prices. This is even as the Government is considering giving the public sector oil marketing companies a free hand to ...