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Saturday, May 14, 2005

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INDUSTRY & ECONOMY

EMPLOYMENT


On the job
Social activist Ms. Arundhati Roy wishes good luck to one of the passengers and activists of `Right of employment bus' during its flag-off in the Capital on Friday. The bus, which will cover six northern States, will consolidate the campaign for ... More

NON-CONVENTIONAL ENERGY


ISMA seeks long-term demand for ethanol supply — Suggests changes to Petroleum Ministry in MoU on pricing
AN assurance of long-term demand for ethanol from the buyers in lieu of long-term supply commitment from sugar manufacturers and ironing out pricing method of ethanol appear to be the bone of contention between the Indian Sugar Mills Association ... More

Non-conventional energy policy for Maharashtra soon: Minister
THE Ministry of Non-Conventional Energy, Maharashtra, is set to take serious measures to tackle the problem of the increasing gap in demand and supply of electricity in the State. The Ministry has already tabled in the Cabinet, a Non- ... More

ECONOMY


We're pro-farmer, pro-poor: YSR
THE Congress Government in Andhra Pradesh asserts that there is no change or slowdown in the economic reforms process. "We have taken a pro-farmer, pro-poor and socio-economic focus in the reforms," the State Chief Minister, Dr Y.S. Rajasekhara ... More

Marginal rise in biz confidence index
THE Business Confidence Index (BCI), a barometer monitoring the corporate pulse and projecting growth impulses of the economy, has remained on course with a slight uptrend noticeable in the latest round of survey by the National Council of ... More

Cong Govt completes a mixed year in office
Though it claims to be low-key, the Congress Government seems to have outdone its predecessor when it comes to publicity blitzkriegs. More

Inflation declines on drop in food prices
THE annual wholesale price index-based inflation dipped marginally by 0.24 per cent to 5.67 per cent during the week ended April 30, from the previous week's level of 5.91 per cent. The fall in the year-on-year inflation was mainly due to a drop ... More

`Laggard States must focus on performance'
THE Deputy Chairman of the Planning Commission, Mr Montek Singh Ahluwalia, has called for creating a heightened sense of awareness of the economic and social performance of different States in the country to set off a demand-led growth inducement ... More

IL&FS, McKinsey to draw Jharkhand minerals, farm sector roadmap
JHARKHAND has engaged consultants to prepare a long-term roadmap for the development of mineral-based industries and the agriculture sector in the State and for preparing the outline for an international airport, according to Mr Arjun Munda, ... More

ENVIRONMENT


Kerala units complying with pollution norms: SC panel
A MAJORITY of industrial units in Kerala have complied with the directions of the State Pollution Control Board (PCB) regarding handling of hazardous wastes. At the instance of the Supreme Court Monitoring Committee on Hazardous Wastes, the ... More

FOREIGN TRADE


BIMSTEC free trade agreement — Inter-ministerial group to finalise `negative list'
THE Commerce Ministry is now in the last leg of industry consultations before finalising the `negative list' of items (on which no tariff concessions will be exchanged, to begin with, among member countries), under the Bay of Bengal Initiative ... More

INFRASTRUCTURE


ADB may fund development project in north Karnataka
THE Asian Development Bank (ADB) is likely to fund a development project in north Karnataka costing around $400 million. The Karnataka Urban Infrastructure Development Finance Corporation (KUIDFC) Managing Director, Mr K.P. Krishnan, told ... More

PSU


Jessop still BBUNL arm in Web site
THAT public sector enterprises generally have a poor track record in maintaining their Web sites up to date is no secret but not many will be able to beat the record of Bharat Bhari Udyog Nigam Ltd (BBUNL). Even after one-and-a-half years of ... More

PETROLEUM


GAIL-IOC in pact for gas supply in Lucknow, Agra
GAIL (India) Ltd and Indian Oil Corporation Ltd (IOC) have signed a joint venture agreement for implementation of city gas projects in Agra and Lucknow. The agreement was inked by Mr Proshanto Banerjee, Chairman and Managing Director, GAIL and ... More

`Synergy in energy committee report to be ready in 4 weeks'
THE advisory committee on synergy in energy will be ready with its report in four weeks' time, according to Mr V. Krishnamurthy, Chairman of the committee. Speaking to newspersons after the committee's meeting here, Mr Krishnamurthy said the ... More

Aiyar rules out immediate hike in petroleum product prices
THE Union Minister for Petroleum & Natural Gas and Panchayati Raj, Mr Mani Shankar Aiyar, has said there are no plans to hike the prices of petroleum products in the immediate future. A decision in this regard would be taken only after the issue More

PHARMACEUTICALS


Penalty collected from spurious drug makers to be paid to patients
THE Cabinet may have shot down the proposal mooted by the Health Ministry seeking the imposition of death penalty on manufacturers of spurious drugs, but patients affected by the consumption of such drugs may finally have something to cheer ... More

POWER


PowerGrid plans IPO in Sept — Likely to offer 10 pc equity
THE State-owned Power Grid Corporation of India Ltd (PGCIL), the country's largest power transmission company, is planning to come out with an initial public offering (IPO) of shares in September. "We are open to an IPO. We are in discussion ... More

Maharashtra's decision on free power hailed
MUMBAI: The Indian Merchants' Chamber (IMC) has extended its support to the Maharashtra Government's decision to stop free electricity supply to farmers with effect from June 1. "Free power supply in the past has cost Maharashtra Rs ... More

Govt may extend deadline for SEB unbundling
THE Government looks all set to extend the impending deadline for unbundling of the State electricity boards (SEBs), following pressure from the Left Parties. The Electricity Act, 2003 had set a target for all States to unbundle their ... More

STEEL


SAIL's Raw Material Division to raise production
THE Raw Materials Division (RMD) of Steel Authority of India Ltd (SAIL) has plans to increase its production from the existing level of 12.94 million tonnes (mt) to 20 mt by 2011-12. The move will help RMD meet the increased raw material ... More

TAXATION


Help Centres for small taxpayers to be made functional from July 1
HELP Centres for `small taxpayers' of indirect taxes are to be made functional from July 1 this year. The Central Board of Excise and Customs (CBEC) has now spelt out the broad framework under which such centres would operate around the ... More

Grace period for VAT returns in Kerala
THIRUVANANTHAPURAM: The State Government will entertain value-added tax (VAT) returns submitted by traders for a period up to six months, according to Mr V. Somasundaram, Commissioner, Commercial Taxes. Speaking at a general discussion ... More

Service tax crucial for achieving FRBM goals
THE Finance Ministry is betting high on service tax collections to help achieve the fiscal responsibility and budget management (FRBM) goals by 2008-09. The importance of service tax can be judged from the fact that the Kelkar Task Force on ... More

Cos asked to adjust MRPs to post-VAT
THE Empowered Committee on VAT (value-added tax) has asked corporate houses to adjust the MRPs (maximum retail prices) taking rates in the new tax regime into consideration. Referring to the incidences of not reducing the prices (where it was ... More

`MRP to remain VAT inclusive'
NEW DELHI: Clearing the confusion that had crept into the VAT implementation stage, Dr Parthasarathy Shome, Advisor to Finance Minister, said on Friday that the "maximum retail price (MRP) will be and should remain VAT inclusive, except ... More

`Notification on uniform 2 pc CST to be issued soon'
THE Government has decided to issue a notification for a uniform Central sales tax (CST) of two per cent with effect from April next year and complete classification of items for uniform value-added tax by July this year, said Mr Ramesh Chandra, ... More

TEXTILES


Sisspa bullish on domestic market
"High cost of funds borrowed from the banks is a dampener as the small spinners are denied of competitive interest rates." More

Chinese textile exports to US dive 21 pc in March
CHINESE exports of textiles and apparels to the US in March were almost half a billion dollars lower in absolute terms as compared with February. In percentage terms there was a fall of 21.2 per cent. Nevertheless, Chinese exports in March, ... More

SSI


`Banks must recognise credit rating of SSIs by independent agencies'
SMALL-scale industries can get themselves credit-rated by independent agencies not just to smoothen the process of getting funds but also to showcase their reputation and capability to prospective customers, according to Mr S. Venkatesan, ... More

Bill in LS to raise SSI investment cap to Rs 5 cr
THE Government has moved in Parliament the Small and Medium Enterprises Development Bill 2005 that seeks to raise the investment limit in the small-scale sector to Rs 5 crore. The Bill also provides for a statutory definition of small and ... More

UPS Jetair Express unveils tech-based tools for SMEs
UPS Jetair Express Pvt Ltd, a joint venture between the package delivery company UPS and Jetair, announced on Thursday its technology-based offerings for small and medium enterprises (SMEs). The tools UPS TradeAbility and Quantum View Manage ... More

German fair `an eye-opener for Tiruchi SSI units'
THE Hannover international industrial fair held in Germany from April 11 to 15 has been an eye-opener for the umbrella organisation of sub-contracting firms of BHEL at Tiruchi, namely BHEL Small-Scale Industries Association. According to the ... More

WATER


AP, Maharashtra differ on Godavari water usage
THE State Government has raised objections to the construction of about 11 barrages across the main river Godavari by the Maharashtra Government, on grounds that the latter was overutilising the water. The Chief Minister, Dr Y.S. Rajasekhara ... More

Swiss prof to decide on Baglihar project
NEW DELHI: Professor Raymond Lafitte, a Swiss national, civil engineer and professor at the Swiss Federal Institute of Technology in Lausanne, has been appointed as the "Neutral Expert" by the World Bank to decide on the fate of Baglihar ... More

COAL


Coal shortage hits Rlys' freight movement plans
It is now being forced to undertake certain operations which are not to its liking as these are not part of the freight movement plans. The unplanned movement is creating pressure on the Railway system. For example, coal is being transported ... More

RADIO/TV


Investment programme from CNBC-TV18
BUSINESS news channel CNBC-TV18 is offering a learning programme on investment, business and finance through video conferencing. The fee-based video conferencing programme - MasterClass - will be hled in 21 cities including Coimbatore ... More

CARS


Car sales up 13.6 pc in April; CVs down 15 pc
DESPITE significant changes in April in the form of introduction of the valued-added tax (VAT) regime and the new emission and safety norms, the domestic automobile industry, except commercial vehicles, saw a healthy growth rate during the ... More

REAL ESTATE & CONSTRUCTION


FICCI plans to boost housing, real estate via regulatory norms
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has said that a well-defined regulatory framework, easier tax regime and a forward-looking FDI policy for the real estate sector is the need of the hour in bringing technical and ... More

INDUSTRY ASSOCIATIONS


Bengal chamber's `classic' touch to lounge-cum-bar
CIRCA 1570: Andrea Palladio is appointed architectural advisor to the Venetian Republic. Later, he earns the reputation of being the creator of what is known as `ancient classicism'. What does The Bengal Chamber of Commerce & Industry have in .. More

KNITWEAR & HOSIERY


India Knit Fair ends at Tirupur
COIMBATORE: The 20th edition of India Knit Fair (for spring/summer collection 2006), staged under the aegis of the apparel export promotion council and the Tirupur Exporters Association, in the hosiery town of Tirupur, ended on ... More

MINING & QUARRYING


AP Tribal body opposes bauxite mining plan
THE Dandakaranya Liberation Organisation is opposed to the proposal of the State Government to allow the Andhra Pradesh Mineral Development Corporation to undertake bauxite mining in the agency areas of Visakhapatnam and East Godavari districts ... More

EVENTS


PRSI Mangalore-Manipal chapter to conduct lecture
MANGALORE: The Public Relations Society of India (PRSI), Mangalore-Manipal chapter, will organise a lecture on `Public relation in public enterprises in Indian context' here on Tuesday. A PRSI release said that the Chairman of the New ... More

PRSI Hyderabad chapter to organise meet
HYDERABAD: A round table on public relations education with emphasis on restructuring syllabi to meet the demands of corporates, forging linkages with industry and improve professionalism would be held here on Sunday. The Public ... More

INCOME TAX


An undeserved denial
Standard deduction should be reinstated, says T. N. Pandey More

EXPORTS & IMPORTS


TDB to receive entire cess on technology imports by 2006-07
THE Finance Minister, Mr P. Chidambaram, has said that the entire cess on import of technology collected till date would be passed on to the Technology Development Board (TDB). He said the shortfall of Rs 481 crore will be met partially this ... More

NATURAL CALAMITIES


IFAD lines up $30-m rehab plan for tsunami-affected areas
The IFAD's programme is expected to benefit over six lakh people by supporting them to rebuild or create new livelihoods for the fisherfolk. More

Kochi-based NGO plans to train public in disaster management
SCIENTIFIC Awareness Forum (SAFE), a Kochi-based NGO, has initiated an awareness-cum-training programme on `natural and manmade disasters and crisis management' across the State under the guidance of scientists and professionals. The main ... More

TOURISM


Long wait ahead for US tourist visa applicants
TOURISTS planning a visit to the US this summer may well face some hurdles if they have not planned their holidays well in advance. And no, it does not have to do with over-booked flights in a busy outbound travel season. Instead, the long ... More

ECONOMIC OFFENCES


SAIL chief's role may be examined in coal purchase deal
MR S.K. Roongta, Director (Commercial), Steel Authority of India Ltd (SAIL) , who had been asked to proceed on leave following allegations of irregularities in coal purchase transactions in the US spot market last year, is likely to be asked to ... More


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Top Stories
MSCI raises India's weightage marginally — 13 new stocks included


`Banks must recognise credit rating of SSIs by independent agencies'

Unisys plans expansion; second unit by year-end

Car sales up 13.6 pc in April; CVs down 15 pc

Marginal rise in biz confidence index

Chinese textile exports to US dive 21 pc in March

Coal shortage hits Rlys' freight movement plans

The fluster in FBT

In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
More

In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
May. 1-May. 7
`I-T sop for salaried class with rider needs relook'

`E-governance of judicial system to be fully implemented soon'

Chidambaram tells I-T Dept to target big spenders to widen tax base

China's rapid economic growth hits Asian nations differently

Molasses duty cut to Rs 750/t

India Inc disappointed over FBT retention

Service tax exemption for farm income insurance premium

Drop in shipments to US affects pepper exports; down to below 15,000 t

IBM among 29 FDI proposals cleared

Edible oil imports surge in April

Five commodities drive exports 26 pc in April-February

Costlier edible products drive inflation up

CAG finds fault with surplus land sale of NTC unit

Small savings collections up 19%


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