The Hindu Business Line : Sunday, July 05, 2009

INDUSTRY & ECONOMY

RURAL DEVELOPMENT: Rural mobile project target seems a tall order now
New Delhi, July 4 Tough terrain and tougher villagers are slowing the erection of mobile towers, affecting the rural cellular telephony project funded by the Universal Services ...

EXPORTS & IMPORTS: Global steel majors await India’s move on iron ore exports
Asian prices firm up on fears of duty on shipments. Mumbai, July 4 Steel majors in Asia and elsewhere are anxious about developments in India in relation to iron ...

TAXATION: Budgeting for Gen-Y
“Until last year I never really cared about the Union Budget. But now, since I run my own law firm, every penny counts. I am going to hang-on to Mr Pranab Mukherjee’s speech word by word on Monday,” asserts Arjun Manohar, ...

BUDGET: Six wishful demands for a dreamy Budget
Industry bodies, trade associations, consumer fora and the media have all released their Budget wish lists. Some of these may come through; others may never see the light of ...

REAL ESTATE & CONSTRUCTION: In realty, the worst is over
The near lull in the housing sector just months ago has been replaced by a slew of project launches touting affordable price tags, and a fund-raising spree by leading realtors. Developers are keeping their fingers crossed that ...

EXPORTS & IMPORTS: Garment exports dip 10% in April-May
Improve competitiveness, enhance domestic sales: Textile Ministry. New Delhi, July 4 Even as the export market for Indian garments is beset by a demand dip — with garment exports down by 10 per cent in dollar terms in April-May 2009, ...

CEMENT: Call for clarity, consistency in excise duty on cement
Continuous changes in earlier Budgets lead to uncertainty. Chennai, July 4 The cement industry is hoping as much for clarity and consistency in excise duty as abatement and concessions, according to a cross section ...

BUDGET: Increase outlay for education, infrastructure
The forthcoming Union Budget presents an excellent opportunity for the Government to show that it means business in terms of fostering sustainable development, growth, and innovation – the benefits of which will go all the way to the ...

INCOME TAX: Change with the times
The Bangalore-based Mantri Developers has come out with compact apartments about 20-25 per cent smaller than what was commonly sold till last year. A residential unit now is about 1,000 sq.ft for a two-bedroom apartment instead of ...

HUMAN RESOURCES: Inclusive growth will address affirmative action: Minister
New Delhi, July 4 The Minister for Corporate Affairs, Mr Salman Khurshid, on Saturday said that he was not very inclined to mandatory reservation in the private sector. Speaking to newspersons after a CII special session on Corporate ...

POWER: 78,000 MW will be added during 11th Plan: Shinde
Gangtok, July 4 The Union Minister of Power, Mr Sushil Kumar Shinde, has said that 78,000 MW power will be added during the 11th ...

INCOME TAX: Provide tax benefit for long-term investments
Due to an absence of a social security system in India, only those in government services can be assured of a pension for their old age. To ensure a secure financial future for individuals, there is a dire need to differentiate ...

SCIENCE & TECHNOLOGY: ISRO targeting 25% revenue growth in 2009-10
Kolkata, July 4 The Indian Space Research Organisation (ISRO) is targeting 25 per cent growth in revenue in 2009-10 over Rs 1,000 crore in the last fiscal, according to Mr G. Madhavan Nair, Chairman of ISRO, Chairman, Space Commission, ...

BUDGET: Enhance allocation to defence
The defence and aviation industry is currently redefining the Indian economy. Despite the consistent raise in defence budget allocation over the past two years, the total budgetary allocation remains between 1.97 per cent and 2.41 per cent of ...

BUDGET: Reduce excise duty on auto products
Global financial crisis has affected number of automobile industries of advance countries. Many automobile giants such as General Motors are suffering due to financial crisis. India is a growing economy (per capita income and gross ...

BUDGET: Invest in security infrastructure
I expect the upcoming Budget to provide (for) expenditure on infrastructure development, particularly in major metros. Although the Government is investing a lot in building roads, bridges etc, we completely lack security infrastructure to ...

BUDGET: Bring more clarity to SEZ policies
With the new Government, we expect the economy to work in much more liberal way.As a need of the hour, public spending in infrastructure sectors such as roads and ports must go up, as they ...

EDUCATION: Upgradation of academic standards, quality is need of the hour
The 100-day agenda of the HRD Ministry mentions a law to regulate entry and operation of foreign educational providers that will let good foreign universities enter India. This would come as a boon to all those students who can’t afford ...

EVENTS: Weekly News Round up
The Railway Minister Ms Mamata Banerjee, presented the Railway Budget on Friday. There is increase in passenger fares or freight tariff. She announced 12 non-stop point-to-point long-distance trains and air-conditioned double-decker coaches ...

PETROLEUM: Do away with subsidies on petroleum products
A bold decision to dismantle the regulated price mechanism for petroleum products is required to be taken in the coming Budget. With the increasing level of fiscal deficit, any further continuance of regulated regime will only worsen the ...

NRIS: UCO Bank hikes FCNR rates
UCO Bank has increased rates of interest on FCNR and NRE deposits effective July 1, according to a press statement issued by the ...

EXCISE AND CUSTOMS: Remove 5% Customs duty on plastic raw materials
With its gaining a substantial mandate, the UPA Government is now more open-minded to implement such industrial reforms which may produce in the quickest possible benefits for the teeming millions.Unfortunately, the policy of ...

TAXATION: Service tax collections down 7% in April-May
New Delhi, July 4 The Budget could see the service tax rate revised upwards. The service tax collection in the first two months of the current fiscal has seen ...

BUDGET: Incentivise entertainment business
Entertainment business is at an inflection point in the country. India has the potential to become a major entertainment/media player on the global stage. If given right incentives, it can become a major revenue driver. In ...

ECONOMY: Budget Expectations
While fiscal prudence will be attempted, we expect little change to the Centre’s fiscal deficit of more than 6 per cent of the GDP. Alternative sources of raising finances, such as disinvestment, relaxation of FDI ...

STEEL: Steel bends under slowdown pressure
The recent bull run in the commodities markets has seen the Reuters CRB Metals index rebound by 60 per cent from its December lows. However, steel is one commodity which appears to have missed the bus, with prices hovering at just 10 per cent ...