The Hindu Business Line : Tuesday, June 02, 2009

INDUSTRY & ECONOMY

INDUSTRY ASSOCIATIONS: Abolish fringe benefit and minimum alternate taxes, say chambers
New Delhi, June 1 The Confederation of Indian Industry (CII) has asked the Finance Minister, Mr Pranab Mukherjee, to abolish several of the taxes announced by his ...

FOREIGN TRADE: Exports drop 33.2% in April; imports fall 36.6%
Sharper decline in imports helps contain trade deficit. India’s foreign trade front presented a dismal picture in the inaugural month of the current fiscal, with both exports and imports declining by 33.2 per cent and 36.6 per cent ...

PSU: Govt to consider initial public offer for Air India
Airline has sought Rs 1,231 cr equity infusion, Rs 2,750 cr soft loan. New Delhi, June 1 The Government will consider an initial public offer to infuse funds in Air India, the Civil Aviation Minister, Mr Praful Patel, said here on Monday without ...

ECONOMY: Winning was the easy part
The national mood of optimism following the United Progressive Alliance’s convincing win in the general election is cause for concern. This is because the entire gamut of Indian society — from players in the exuberant stock market ...

TAXATION: Tax commissioners worldwide join hands to tackle evasion
Agree on new plan to encourage tax compliance, counter abuses. New Delhi, June 1 Tax authorities from around the world have agreed on a new co-operation plan to encourage compliance and to counter evasion and abusive avoidance, with special ...

AUTOMOBILES: Maruti, Hero Honda drive domestic auto sales in May
Better finance, says Maruti; network expansion, says Hero Honda. New Delhi, June 1 Domestic auto sales increased significantly in May led by Maruti Suzuki in the passenger car segment and Hero Honda in two ...

INFRASTRUCTURE: Speedy implementation of core projects critical for economy: Srei
Lack of policy measures, multiplicity of taxes, among hurdles faced by NBFCs. Mumbai, June 1 Speedy implementation of infrastructure projects is critical for the economy and the hurdles faced by financing institutions in this sector need to be ...

BUDGET: India Inc calls for ‘new deal’ Budget
Wants big push for infrastructure, divestment. New Delhi, June 1 India Inc has called for a “new deal” Budget that would give a big push to infrastructure besides making bold statements on the disinvestment ...

TEXTILES: Maran plans to ‘impart momentum’ to textile industry
New Delhi, June 1 Creating one crore jobs in the next five years, building world-class manufacturing facility and assuring a dominant global standing in the manufacture and export of textiles and clothing would be his “agenda ...

PSU: CMPDIL gets Mini Ratna status
The Ranchi-based Central Mine Planning and Design Institute Ltd (CMPDIL) — a wholly owned subsidiary of Coal India Ltd — has been conferred Mini Ratna (Category-II) status. The award would offer greater autonomy in regard to ...

TEXTILES: Needed, integrated textile parks
Bangalore, June 1 The textile industry in Karnataka lacks in backward integration, which is a critical component in ensuring ...

WATER: Govt seeks ADB funding for drinking water project
Bangalore, June 1 The Karnataka Government is in talks with the Asian Development Bank (ADB) for funding a Rs 60,000-crore drinking water supply project for all the urban areas in the State, ...

POWER: Further delay feared in Kudankulam project
Chennai, June 1 Nuclear Power Corporation of India’s Web site gives August 2009 as the “expected date of (commencement) of commercial operation of the first unit of the Kudankulam nuclear power project”. But even those in ...

REAL ESTATE & CONSTRUCTION: Brigade Enterprises to launch low-cost homes
Eyes infrastructure sector with mini hydel plants. Bangalore, June 1 Real estate developer Brigade Enterprises is set to launch a low-cost housing project in the sub-Rs 10 lakh price category, apart from plans to set up a mini hydel ...

INVESTMENTS: Karnataka clears Rs 1,600-cr worth proposals
Tata Comm, Gujarat NRE Coke figure in list. The Karnataka Government has given green signal to 64 new proposals involving an aggregate investment of about Rs 1,600 ...

PETROLEUM: As crude prices climb, deregulation may have to wait
Projected PSU losses reach Rs 23,000 cr. Mumbai, June 1 The Petroleum Ministry could be forced to put auto fuel price deregulation on the backburner if the current crude price spiral is any ...

EXPORTS & IMPORTS: India seen losing out to Asian competitors in textile exports
Bangalore, June 1 Competition from Bangladesh, China and Vietnam is threatening the Indian textile industry and the country could find itself lagging in exports if it does not react suitably, say experts in the textiles ...

POWER: TNEB buys more power despite bumper wind, biomass generation
Chennai, June 1 The bumper May generation from windmills and biomass plants in the State could not contain Tamil Nadu Electricity Board’s purchase of power from other States within the target for ...

ECONOMY: Creditable growth
Shaking off one more vestige of pessimism, the economy registered a creditable growth of 6.7 per cent for the year gone by; creditable because it comes on the heels of the global slowdown, with its severe effects on exports, the services sector ...

FOREIGN TRADE: ‘UK success in eastern region is growing’
West Bengal has a long way to go in developing its infrastructure if it wants to attract more investment, not just from overseas companies but from within India ...

TOURISM: Goa Tourism to go for private funding for new facilities
Panaji, June 1 To overcome the paucity of funds for development of tourism infrastructure in coastal areas, Goa Tourism Development Corporation Ltd (GTDC), Goa’s tourism promotion and marketing body, will soon invite expression of ...

HEALTH: ‘Alcohol can cause osteo-arthritis’
Alcohol can also cause osteo-arthritis, a senior orthopaedics consultant ...

NATURAL CALAMITIES: Water everywhere!
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CLIMATE & WEATHER: Figuring it out
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HEALTH: Anti-tobacco drive
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BUDGET: Pre-Budget meeting
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RURAL DEVELOPMENT: Karnataka proposes to increase NREGS wages
Mangalore, June 1 Appointment of junior engineers to oversee the implementation of National Rural Employment Guarantee Scheme (NREGS) and increase in wages under the scheme are being proposed by the ...

PSU: Rehabilitation scheme likely for PSUs in the red
Mumbai, June 1 The Union Ministry of Heavy Industries and Public Enterprises is considering offering a rehabilitation package to 17 loss-making public sector units (PSUs). The package could include the option of entering into a joint venture ...

CEMENT: Ambuja, Shree cement despatches up in May
Kolkata, June 1 Ambuja Cements Ltd, according to a company press release, produced 16.4 lakh tonnes in May this year, as compared to 14.94 lakh tonnes in the same month last year, and despatched 16.38 lakh tonnes (15.13 lakh ...

POWER: NTPC-BHEL picks AP for Rs 6,000-cr equipment unit
Hyderabad, June 1 The NTPC-BHEL joint venture has zeroed in on Andhra Pradesh to establish a Rs 6,000-crore power equipment manufacturing base in Chittoor ...

NON-CONVENTIONAL ENERGY: Solar power plant planned in Palakkad
Kerala Industrial Infrastructure Development Corporation (Kinfra) proposes to set up a solar energy power plant in Palakkad ...

RADIO/TV: Commonwealth Games: Wide coverage promised
New Delhi, June 1 Ms Ambika Soni, Union Minister of Information and Broadcasting, on Monday, said the Ministry would ensure wide coverage of the Commonwealth ...

CEMENT: AP cement consumption defies slowdown
Despite economic slowdown, the cement consumption in Andhra Pradesh is continuing to grow at a steady pace surpassing the national average. In April, the consumption was at 19.25 lakh tonnes compared with 17.75 lakh, marking a growth of 8.45 ...

Columnists: • B Venkatesh • C Gopinath • Bhanoji Rao • P.V. Indiresan