The Hindu Business Line : Friday, February 29, 2008

Passenger cars, scooters stay buoyant: Survey
The automotive industry maintained buoyant growth fuelled by certain segments compared to some other sectors which were affected in the current fiscal stated the Economic Survey. Presenting its outlook, the survey said that the ... More

Policy reform options
Amend Coal Mines Nationalisation Act to allow regulated private entry into coal mining. Privatise old coal mines to improve recovery of “in-place” reserves by 5-10 per cent, subject to a professional, independent regulator for ... More

Export outlook not bright, says Survey
New Delhi, Feb. 28 The outlook for exports in 2008-09 could be duller than that of the past few years, predicts the Economic Survey 2007-08. Lower projections in world gross domestic product (GDP) and world imports and exchange rate ... More

Survey suggests 49% FDI in insurance
Insurance penetration up from 2.32 in 2000 to 4.8 in 2006 More

‘Skill-set development key to growth’
New Delhi, Feb. 28 The growth in the various sectors of the economy could be achieved only if supported by appropriate skill development programmes at various levels. Shortage of skilled workforce can push inflationary costs and erode price ... More

Corporates to step up access to primary market
New Delhi, Feb 28 Indian corporates would step up their access to the primary market to raise resources both through equity and debt issues. Alongside, the overseas issues (ADR/GDR) too are expected to gain in importance to supplement the ... More

India receives 46.33 lakh foreign tourists
New Delhi, Feb 28 The Economic Survey 2007-08, which was tabled in Parliament on Thursday by the Union Finance Minister, Mr P. Chidambaram, states that the prospects for growth in the tourism sector in the country are bright.The Survey ... More

‘Inflation control will be a major challenge’
For double-digit growth more reforms are needed: Chidambaram More

Presenting the report card
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Per capita grain consumption dips
The Economic Survey has expressed concern over the declining trend in per capita availability of foodgrains in the post-reforms period. Between 1950-51 and 2006-07 as a whole, production of foodgrains rose by an average 2.5 per cent annually, ... More

BUDGET
Sensex follows Budget-eve trend, closes flat; Survey fails to enthuse
The benchmark indices closed flat on Thursday, the eve of the Union Budget. The market appears to be not too impressed by the economic report card presented in Parliament, which said that achieving 9 per cent growth would be challenging. ... More

CNBC Budget Bonanza Contest
CNBC TV 18 would telecast extensive analysis of the Union Budget proposals by its in-house panel of experts deciphering their impact on various sectors.The programme will also feature a contest called ‘Budget Bonanza ... More

A gender-friendly budget from Vasundhara Raje
Chennai, Feb. 28 With an eye on the Assembly elections due later this year and a special focus on bettering the lot of women, the Rajasthan Chief Minister, Ms Vasundhara Raje, who also holds the finance portfolio, presented the State Budget on ... More

ECONOMY
Economy has moved decisively to higher growth phase
Maintaining 9% GDP growth ‘will be a challenge’, says Economic Survey More

Outlook for 2008-09: Optimism, but with caution as the watchword, says Chidambaram
In a clear pointer that the 2008-09 Union Budget would be growth-oriented, the Finance Minister, Mr P. Chidambaram, on Thursday asserted that the Government would continue to provide a conducive investment climate and manage the macro-economy ... More

‘Inflation likely to moderate’
New Delhi, Feb 28 Projecting a moderation in inflation levels over the medium term, the Economic Survey has, however, struck a cautionary note in the wake of surging foreign inflows and global commodity price movement. “Overall ... More

EXCISE AND CUSTOMS
85% of budget target for customs duty achieved
New Delhi, Feb. 28 The Centre is well on course to surpass the budget target for customs duty revenues in 2007-08 going by the collection data available for the period up to January 2008 this fiscal. ... More

FOREIGN TRADE
France keen on resuming civil nuclear ties with India
Stressing on greater India-France strategic ties in the coming days, based on a shared concern for peace and stability in the world, the Ambassador of France in India, Mr Jerome Bonnafont, said here on Thursday that France was working with ... More

HOTELS
Sarovar plans Hometel brand of hotels
Hyderabad, Feb. 28 Sarovar Hotels and Resorts, the Mumbai-based hospitality group, plans to open Hometel brand of hotels in Mumbai, Chandigarh, Pune, Chennai and Baddi (Himachal Pradesh). In Chennai, it would open hotels on the Old ... More

PSU
‘Travancore Rayons revival certain as CM clears hurdles’
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PSU sell-offs listed as key reform measure
Bringing PSU disinvestment back on the radar, the Government has cited the completion of divestment of 5-10 per cent stake in previously identified profit-making non-Navratna PSUs as among the key reform options in the Economic Survey. It has ... More

PETROLEUM
Privatise old oil fields to accelerate exploration
With international crude prices flirting at over the $100 a barrel mark, the need to reduce incremental import dependence of the country’s energy requirements entails a number of measures including acceleration of oil and gas ... More

POWER
‘Govt keen on allowing pvt players in nuclear power’
Survey stresses on improving financial viability of power utilities More

TAXATION
Kerala expects 17% rise in tax revenue
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9 States claim CST compensation
As many as 9 States have claimed compensation of an aggregate amount of Rs 1,865.9 crore as on January 31, 2008 towards revenue loss on reduction of central sales tax (CST) from 4 to 3 per cent with effect from April 1 last year. Out of this, an ... More

EDUCATION
BSE, SIES sign MoU for training programme
Mumbai, Feb 28 The Bombay Stock Exchange (BSE) and SIES College of Management Studies (SIESCOMS) have signed a memorandum of understanding (MoU) for jointly conducting training programmes and other Diploma or Certificate Programmes. ... More

Oakridge to set up school in Vizag
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MEDICAL INSTITUTIONS & HOSPITALS
Apollo Hospitals to set up facility in Mauritius
Hyderabad, Feb. 28 Apollo Hospitals, in association with the Mauritius-based British American Investment Company, will set up a $70-million facility in the island nation, targeting patients from the neighbouring African and European Union ... More

REAL ESTATE & CONSTRUCTION
Virtual walk through homes before buying
LOGIX PRODUCT More

Property design co Yoo joins hands with Pune’s Panchshil Realty
Pune, Feb. 28 Global property design and development company Yoo has announced an alliance with Pune-based real estate developer Panchshil Realty to construct India’s first branded apartments. Yoo Pune, the first project under the joint ... More

FOREIGN DIRECT INVESTMENT
Survey suggests 49% FDI in insurance
Insurance penetration up from 2.32 in 2000 to 4.8 in 2006 More

Survey favours liberalising FDI in insurance, retail
100% FDI in pvt rural agricultural banks urged More

RURAL DEVELOPMENT
IOB launches village development scheme
Chennai, Feb. 28 The Chennai-headquartered Indian Overseas Bank (IOB) has launched ‘IOB Sampoorna’ — the total village development scheme at Kuthambakkam and Padur villages, about 40 km from here. Announcing the ... More

EVENTS

Discussion on Budget

NATURAL CALAMITIES
AP will soon have district disaster management authorities
Hyderabad, Feb. 28 The Andhra Pradesh Government will speed up the formation of district disaster management authorities (DDMAs) in all districts, according to Dr J. Geetha Reddy, Minister for Major Industries.Andhra Pradesh is the first ... More

TOURISM
The Roja falls
One popular film song later, Banatheertham in Tamil Nadu has turned into a big tourist draw. More

Bengal, Mahindra Holidays sign MoU for new tourist spots
Work on the project may begin by December More

Branson holidaying in Kerala with family
Thiruvananthapuram, Feb. 28 The Virgin King has landed in God’s Own Country. Sir Richard Branson, the founder and President of the Virgin Atlantic Group, and his family are holidaying in Kerala.Sir Richard, his wife Joan and son ... More