No pre-Budget blues for automobile cos
The sharp drop in sales of high-priced consumer items such as automobiles and durables seen in the days running up to the Budget may be missing this year around, thanks to attractive consumer schemes brought out by manufacturers, especially of ... More

`Infrastructure may get fillip'
Infrastructure sectors such as roads, ports, airports and electricity are likely to get a major focus in the coming Union Budget, finds a survey done by Assocham. The survey, conducted in the second week of February, covered 200 ... More

Give private players a chance
One can only hope that the public-private partnership the Ministry hopes to rope in would be secured through "a transparent policy" and reasonable rate of returns to the builders and operators of such facilities. More

CEMENT

Reclassification: No impact yet
The Railway Budget which left freight rates untouched, will make little difference to the cement industry, but there is a likelihood that the reclassification of commodities for freight could move cement to a higher or lower slab rate, said ... More

ECONOMY

Rockwell sees big scope here
GLOBAL provider of industrial automation and information systems, the US-headquartered Rockwell Automation sees a huge opportunity for itself in the growth of the Indian manufacturing industry. The company has been growing by 40 per cent in ... More

Fall in agri items price pulls inflation lower
Rise & fall

ENVIRONMENT

EXCISE AND CUSTOMS

Kochi region excise revenue
Kochi Central Excise Commissionerate, which has jurisdiction over the districts of Ernakulam, Kottayam, Idukki and parts of Alappuzha, has collected central excise duty to the tune of Rs 2,644.49 crore up to January as against Rs 2,190.32 crore ... More

AP plea on CVD relief rejected
The Finance Ministry has not acceded to the request of the Andhra Pradesh Government for exempting customs duty/countervailing duty on the goods imported for the upcoming Hyderabad International Airport project. The State ... More

FOREIGN TRADE

German biz team coming
A business delegation from the German State of Saarland would visit India from March 5 - 11. The sectors that the delegation would represent include pharma and healthcare, electrical vehicles, ... More

HEALTH

Dutch firm refutes vaccine charges
Defensive stand
Intervet said 30 per cent of its business in India comes from the sale of poultry vaccines which will now be hit More

'No bird flu infection in humans'
The Health Ministry today said that there was no case of bird flu infection in humans. "Even the last sample that was being tested for avian influenza for which results were waited has tested negative," the Government said in an ... More

INFRASTRUCTURE

PSU

PETROLEUM

Marginal relief to OMCs — Freight reduction on petrol, diesel
Consumers will have little to cheer from the eight per cent reduction in freight tariff on petrol and diesel announced in the Railway Budget 2006-07. However, the State-owned oil marketing companies (OMCs), which have been suffering a pinch in ... More

Nod to amend oil bonds structure
The Union Cabinet has given its approval to partially amend the oil bonds structure by permitting the coupon rate to be fixed on the basis of the prevailing market rate of interest on Central Government securities. The Government securities on ... More

ONGC told not to award deal
Mr Justice G.C. Gupta of the Calcutta High Court has barred ONGC from awarding contracts for integrated exploration and development of coal bed methane (CBM) at Jharia, Bokaro and Parbatpur blocks in Jharkhand during the next four weeks. The ... More

PHARMACEUTICALS

POWER

50 million in the country's transmission and distribution sector over the next three years. The company is also looking at ramping up exports from the country. "India, along with ... More

STEEL

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Steel sector sees marginal benefit
The steel industry has, in general, welcomed the Railway budget, but feels that the concessions proposed in tariff rates would only help marginally in improving the bottom lines. However, the stress on improving railway infrastructure would lead ... More

TECHNOLOGY

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Railway team to visit US
The Railway Board will be sending a high-level delegation to the US, most probably in the third week of March, to identify the appropriate technology for building wagons suitable for movement on the proposed freight corridors. The delegation ... More

SSI

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Debate on industrial development in Kerala
The `SSI Club and SME entrepreneurs' at the SSI branch of the State Bank of Travancore (SBT) held an open debate on industrial development in the State. Mr T. Balakrishnan, Principal Secretary for Industries and Commerce, who ... More

Govt to develop 100 clusters
The Government has proposed to take up 100 clusters of traditional industries under the Scheme of fund for regeneration of traditional industries (SFURTI), for their development over the next five years. Among the clusters, 25 ... More

WATER

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Water levels decline in Kerala reservoirs
Water levels at three major reservoirs in the State - Idukki, Idamalayar and Kallada - have recorded a decline when compared to the readings made a week ago. According to figures released by the Central Water Commission ... More

RAILWAY BUDGET

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Kerala Chambers hail Rail Budget
The trade and industry in the State have generally welcomed the Railway Budget 2006-07, by appreciating the Minister's decision not to increase the freight rates. Mr N. Sreekumar, President of the Cochin Chamber of Commerce and Industry said ... More

Railways improves freight earnings by Rs 3,000 cr
The real story of the Indian Railways during 2005-06 has been its impressive freight loading performance. As against a targeted Rs 33,480 crore of freight revenues, the Railways has garnered Rs 36,490 crore, as per the revised estimates for the ... More

Airlines not perturbed by reduced AC rail fares
The domestic aviation industry is not losing sleep over the decision of the Railway Minister, Mr Lalu Prasad, to reduce first and second air condition class fares. A cross section of airline officials felt that the availability of low air ... More

Railways to pay lesser dividend
Mr Lalu Prasad may have presided over a `historic turnaround' in the financial position of the Indian Railways by generating an unprecedented Rs 11,000 crore of fund balances, against a measly Rs 350 crore in 2001. But this is no cheer for its ... More

IRFC to raise Rs 4,170 cr in 2006-07
After a long time, the Indian Railway Finance Corporation (IRFC) is slated to raise substantial monies from the market. The IRFC willbe mobilising Rs 4,170 crore during 2006-07, as against Rs 3,400 crore in the current fiscal. So far during ... More

e-tickets for all trains — Leviable charges slashed
The Rail Budget has brought good news for Internet-savvy passengers. In a bid to reduce the serpentine queues at the booking counters, the Railways has decided to offer the facility of e-tickets on all mail and express trains, while slashing the ... More

`Low-cost airlines won't be hit'
Air Deccan's Managing Director, Capt G.R. Gopinath, said that reduction in first class train fares will not hit low cost airlines which are trying to wean away train passengers to their airlines. "In some ways I am happy that the ... More

Jessop on expansion drive
Cheered by the Railway Budget presented today , the private sector coach and wagon manufacturing major Jessop & Co is embarking upon a capacity expansion drive in both the coach and wagon divisions. "We are definitely happy but .. More

Big rise in iron ore exports seen
Despite all the discussions about curbing iron ore exports and assurance from the Ministry of Steel that this non-renewable natural resource should be preserved for national interest, the Railway Budget presented today projects a more than 13 per ... More

Lalu bets on volumes to drive growth
There is a proposal for volume discount scheme for attracting traffic without any suggestion if the scales of additional volumes eligible for discount will be calibrated. More

`We are going for aggressive marketing in non-rail related areas'
The Railways plan to market its strengths "aggressively" in non-rail related areas that hold potential income generation for private players so that the type of public-private partnership the Rail Budget 2006-07 lays out could be feasible in ... More

MANPOWER

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ISB rolling placements set for take off
Rolling Placements of the Indian School of Business (ISB) have started on a positive note with the campus witness to hectic activity. The process will culminate by April. This is spread over several months. Upbeat about the recruiter response ... More

LEATHER

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Stone for footwear plant to be laid today
The foundation stone for the Rs 500-crore footwear manufacturing plant of Apache Investment Holdings, a supplier to Adidas, will be laid on Saturday at Mambattu village in Nellore district of Andhra Pradesh. The Chief Minister, Dr Y.S. ... More

PAPER, BOARD & NEWSPRINT

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`Paper units must explore alternative input sources'
The paper industry will have to identify solutions to the problem of raw material scarcity, involve farmers, and allay fears of denudation of forestland, according to Mr V. Krishnamurthy, Chairman of National Manufacturing Competitiveness ... More

INDUSTRY ASSOCIATIONS

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Chip sector seeks sops for mega projects
PSUs funding
The association is also seeking a larger role for Indian public sector undertakings in funding of semiconductor manufacturing projects in the country. Since PSUs have large funds, the move will offer corporate tax-breaks on the ir investments. More

SOCIAL WELFARE

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Call against NGOs for opposing pesticides use
Legal action
The crop federation and the agrochemicals group said they would take legal action against Green Peace for causing unwarranted health scare in Warangal. More

SECURITY

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DRDO to make servo valves
In a new model, strategic material, which India cannot procure from global companies due to `export control regimes,' will selectively be made in the country under Government and company partnerships. Servo valves, which have both strategic and ... More

EVENTS

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`Promote India in chemicals sector'
India can become prime producer and exporter of chemicals, said Mr Jasbir Singh, Chemicals Advisor, to the Union Government. Delivering a keynote lecture at a two-day chemical meet organised by the Basic Chemicals, Pharmaceuticals ... More

TOURISM

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Low-cost carriers see no impact — Travel sector hails move
The travel industry has welcomed the Railway Budget proposal to bring down fares on AC first and second class to make travel on the higher classes more competitive vis-a-vis travel by low-cost carriers. An official with India Tourism here ... More

ECONOMIC OFFENCES

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BhOB board not to renew CEO contract — IPO scam cited as reason behind it
The board of directors of the Chennai-based Bharat Overseas Bank Ltd (BhOB) has decided not to renew the contract of its Chairman and Chief Executive Officer (CEO), Mr G. Krishna Murthy. His tenure is due to come to an end in ... More

BOOKS

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Trade magazine production
Publishing house Infomedia India Ltd has entered into an agreement with Ringier Group of Switzerland to publish five trade magazines in India. The magazines would focus on plastics, packaging, food ... More

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