The Hindu Business Line : Tuesday, August 09, 2005

Monsoon extends `above normal' performance into early August
THE southwest monsoon has extended its `above par' performance into August with the all-India area-weighted rainfall during the season up till August 3 being surplus by 5 per cent. According to an update by the India Meteorological Department, ... More

ECONOMY

Assocham pat for stable SDP growth
KERALA'S State Domestic Product (SDP) growth has remained at 6.3 per cent per annum during 2001-02 to 2004-05 and that is almost the same rate as recorded at national level, according to Mr Mahendra K. Sanghi, President, Assocham. ... More

Income transfer budget equals 16% of consumption of rural poor
A little more than 31 per cent of the rural population in 2003 was in the consumption group lying below Rs 380 per capita per month. Total rural population for the year was estimated at 788.7 million, so this means this group was made up of ... More

Q1 growth likely to be higher than 6.9%
THE Union Finance Minister, Mr P. Chidambaram, said on Monday that economic growth in the first quarter of the current fiscal is likely to be better than the 6.9 per cent rate achieved for the fiscal year ended March 31, 2005. "By all ... More

`Southern States have an edge in luring investors'
SOUTHERN States have better chances of attracting higher investments from domestic and overseas industries and thereby becoming a role model for States in other parts of the country, Mr Mahendra K. Sanghi, President of Assocham, has said. He ... More

FOREIGN TRADE

TERC to decide BIMSTEC framework pact
THE Prime Minister's Trade and Economic Relations Committee (TERC) is scheduled to meet here on August 10 to take a crop of decisions concerning India's economic relations with neighbouring countries such as Pakistan, Bangladesh, South Korea and ... More

Indo-Pak trade up 76 pc in 2004-05
Trade between India and Pakistan has risen 76 per cent to touch $600.77 million in 2004-05 with India enjoying a huge surplus mainly due to the initiatives taken by the two Governments. According to an official statement, India's exports to ... More

Exports to Africa likely to touch $6 b by 2010: Assocham
EXPORTS to Africa are likely to touch $6 billion by 2010 from the existing level of $2 billion, according to a paper brought out by Assocham on `India-Africa Partnership for Progress'. In order to accomplish the projections for exports, ... More

PM visit gives boost to ties with US: India Inc
IN the wake of the Prime Minister, Dr Manmohan Singh's visit to the US, India Inc sees greater opportunities for business collaborations across manufacturing and services sectors between the two countries. In a session titled `The Prime ... More

Indonesia to strengthen bilateral trade ties
INDIA and Indonesia on Monday decided to enlarge their bilateral economic engagement with the Minister of Commerce and Industry, Mr Kamal Nath, and his Indonesian counterpart, Ms Mari Elka Pangestu, agreeing to work towards further South-South ... More

HEALTH

Cholera, dengue outbreak reported in Pimpri-Chinchwad
THE torrential rain that submerged the twin industrial townships of Pimpri-Chinchwad over the last fortnight may have subsided, but it has left in its wake an outbreak of cholera and dengue. The Pimpri-Chinchwad Municipal Corporation (PCMC) ... More

INFRASTRUCTURE

Rajasthan Govt, IL&FS ink deal for Rs 1,200-cr road project
THE Government of Rajasthan and Infrastructure Leasing & Financial Services Ltd (IL&FS) have joined hands for improving and maintaining 1,053 km of road within Rajasthan at a project cost of Rs 1,200 crore. The project, with a deadline of 24 More

AP to receive German funding for megacity
THE State capital of Andhra Pradesh has received a shot in the arm with the German Government identifying it for funding under the megacity project. A joint workshop was held here on Sunday, kicking off the preparatory phase. Making a ... More

Multiplexes a new hope for film industry revival
MULTIPLEXES can revive the Indian film industry, which is beset with huge losses. Film exhibitions in mega-shopping malls are gaining popularity as against traditional single-screen cinema halls. Exhibitors are hopeful of an increase ... More

Sindhia to seek nod for SEZs
BANGALORE: The State Industries and Infrastructure Minister, Mr P.G.R. Sindhia, is meeting the Prime Minister on Tuesday to seek speedy clearance of the State's pending infrastructure projects. Among them are the SEZs, in particular, ... More

PSU

PSUs need to improve corporate governance norms: Gupta
WITH a number of PSUs tapping the capital market and becoming less dependent on Budgetary support for capital requirements, the need to follow corporate governance norms has also increased for them, according to Mr Prem Chand Gupta, Minister for ... More

Karnataka team to study PSU reforms in Bengal
BANGALORE: The Cabinet sub-committee on disinvestment in public enterprises headed by the Karnataka Industries Minister, Mr P.G.R. Sindhia, is visiting Kolkata during August 10-13 to study the action taken by the West Bengal Government on ... More

PETROLEUM

Purchase of petro products for retail sale — Oil marketing chiefs to meet today for better deal from pvt refiners
THE bargaining power of the oil marketing companies (OMCs) will be put to test on Tuesday when the marketing heads of these companies are scheduled to meet to work out the best discount they can get from the private and standalone refiners on the ... More

Reliance finds gas in CBM block in M.P.
AFTER finding gas reserves in deep-sea blocks off the Andhra Pradesh and Orissa coast, Reliance Industries Ltd (RIL) has now found gas in a coal block in Madhya Pradesh. This is the first time that coal bed methane (CBM) discovery has been made ... More

POWER

Power Ministry favours strong regulatory set-up
FACED with flak from several quarters to its proposed amendments to the Electricity Act 2003, the Union Power Ministry today said it was in favour of having a "strong regulatory set-up" in the sector. This comes even as the Ministry has ... More

3 Malaysian cos join race for 49% stake in Nagarjuna Power project
Nagarjuna Power has already approved BHEL as the engineering, procurement and construction contractor for the project. More

TAXATION

Govt fixes Aug 31 as due date for filing of annual info returns
THE Finance Ministry said on Monday that August 31 is the due date for filing of annual information return with respect to transactions in the 2004-05 fiscal. An official release said that the system of receiving annual information returns has ... More

SSI

SIDBI sanctions at Rs 3,550 crore under SME Fund
THE Small Industries Development Bank of India (SIDBI) has sanctioned loans worth Rs 3,550 crore out of the Rs 10,000-crore SME Fund, in the year-and-quarter period since the fund was launched. Disbursements amounted to Rs 2,530 crore, SIDBI's ... More

RADIO/TV

Star One plans another game show
AFTER the success of The Great Indian Laughter Challenge which found a place among the top 50 television shows last month, Star One is all set to launch yet another game show, Super Sale, which would be on the lines of the ... More

Mumbai floods do a tsunamy for news channels
MUMBAI'S record rains in the last week of July pushed news viewing on television upwards, not only in the city but also elsewhere in the country. TAM Media Research, which tracks viewership in cities and towns with a population of over 1 lakh, ... More

New policy: FM operators get more time to file response
THE Telecom Disputes Settlement Appellate Authority (TDSAT) on Monday gave some more time to private FM radio operators to file their response to the new radio policy brought out by the Government. TDSAT is hearing a petition filed by private ... More

Zee alleges sabotage of phone services during game show
PRIVATE broadcaster, Zee, on Monday alleged sabotage of phone services leading to disruption of connectivity before the launch of its new game show, Houzee. The interactive game show went on air at noon on Sunday but with lots of ... More

BEVERAGES

Pesticide content issue — Pepsi, Coke move SC on Rajasthan HC directive
HINDUSTAN Coca Cola Beverages Pvt. Ltd and Pepsi Foods Ltd have challenged before the Supreme Court a direction issued by the Rajasthan High Court asking them to declare either "soft drink does not contain pesticide residues" or "Soft drink is ... More

REAL ESTATE & CONSTRUCTION

Sreemitra realtor gets Crisil rating
SREEMITRA Developers Pvt Ltd, Hyderabad-based real estate developer, has received Crisil (Credit Rating and Information Services of India Ltd) rating, which supports the company's claim in handling land transactions. It is the first realtor in ... More

PAPER, BOARD & NEWSPRINT

Pune institute to churn out silk paper
KEEPING up with the tradition started by Mahatma Gandhi way back in 1940, the Handmade Paper Institute is all set to start the production of silk paper in Pune. The institute will also introduce handmade Independence Day flags. Talking to ... More

EVENTS

Braving the blockade
A Manipuri women with her little child carrying home foodgrains on her bicycle as truck loads of food supplies arrived amidst tight security on the National Highway 39 on the outskirts of Imphal city, capital of Manipur on Monday. ... More

Spare us, dear Lord!
Devotees offering pooja to the flooded Krishna river at Seetanagaram near Vijayawada on Monday.

ENTREPRENEURSHIP

Nisiet — A self-sufficient organisation raring to grow
With growing competition in the fields of training and consultancy, Nisiet has adopted the market-driven approach. More

INCOME TAX

CII meet on fringe benefit tax in Hyderabad
HYDERABAD: The Confederation of Indian Industry (CII) will organise an interactive session on `Fringe Benefit Tax' (FBT) here on Wednesday. Mr J.L. Giridhar, Director-General of Income Tax, and Mr S. Gopalakrishna, Managing Partner of ... More

EXPORTS & IMPORTS

Indian shrimp prices slide in US market
PRICE of shrimp imported from India, across most varieties has fallen in the US markets, even as price of imports from Thailand, Vietnam and Bangladesh have remained more or less stable. The price fall was most visible in frozen black tiger ... More

NATURAL CALAMITIES

Consignments stuck — Govt urged to end impasse at JNPT
THE importers and exporters whose consignments are stuck in the Jawaharlal Nehru port, including the Nhava Sheva International Container Terminal, want the Union Government to intervene immediately to end the impasse caused by the recent floods ... More

Maharashtra floods: Insurance claims to be settled in 7 days
INSURANCE claims, arising out of the recent catastrophic floods in Maharashtra, up to Rs 50,000 would be settled within a week, the State government has said. As on date, the four public sector insurers have received 13,000 claims worth Rs ... More