Financial Daily from THE HINDU group of publications
Thursday, March 28, 2002
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INDUSTRY & ECONOMY

BUDGET


Fresh tax proposals to garner Rs 690 cr -- TN Seeks Rs 3,000 cr grant from Centre
CHENNAI: The Tamil Nadu budget for 2002-03 has levied fresh taxes to net Rs 690 crore, apart from a 5 per cent infrastructure surcharge and sales tax on some commodities, while lining up disinvestment of public sector undertakings to ... More

Budget signals reforms zeal
The Government has prepared a medium-term fiscal reform programme aimed at bringing down the revenue deficit to zero and fiscal deficit to two per cent of the Gross State Domestic Product over a five-year period. More

TN Budget: Many items to attract entry tax
THE Tamil Nadu Government has decided to levy entry tax on a range of items at rates prescribed in the Tamil Nadu General Sales Tax Act, the Finance Minister, Mr C. Ponnaiyan, announced in his Budget speech. He said the Government would levy ... More

TN: Food subsidy bill trimmed
THE Tamil Nadu Government has announced a major initiative to cut the food subsidy bill and diversion of rice from the public distribution system by introducing a coupon system for card holders purchasing rice from the PDS. Presenting the ... More

TN to stop sale of cheap liquor
THE Tamil Nadu Government has decided to discontinue the sale of cheap liquor with effect from April 14, the Finance Minister, Mr C. Ponnaiyan, told the Assembly on Wednesday. Presenting the Budget for 2002-03, he said the cheap liquor scheme ... More

  • Planters disappointed
  • Extension of entry tax gets thumbs down
  • Roll-back entry taxes: CODISSIA

    CEMENT


    TN Budget proposal take cement makers by surprise
    FOR the cement manufacturing companies in Tamil Nadu which say there has been nil or flat growth in cement offtake in the State, the proposal to charge a higher sales tax if the price of cement exceeded Rs 145 a bag has come as a rude ... More

    ECONOMY


  • Karnataka: Call to improve revenue collection

    ENVIRONMENT


  • Pollution control award

    EXCISE AND CUSTOMS


  • Karnataka: `Excise revenue increasing'

    FOREIGN TRADE


    India `hesitant' towards international competition
    `The hesitant approach towards international trade was partly due to inadequate understanding of the beneficial effects of global trade, wrong perceptions and fear of competition.' More

    HEALTH


    AP: Smoking in public places banned
    HYDERABAD: The Andhra Pradesh Assembly on Wednesday adopted a Bill seeking to prohibit smoking in public places and in public service vehicles. The legislation seeks to ban smoking in auditoria, hospital buildings, health and ... More

    INFRASTRUCTURE


    Orissa plans civic bond route to raise Rs 250 cr
    THE Orissa Government is taking up major sewerage improvement and institutional strengthening projects at Bhubaneswar, Puri, Cuttack, Paradip and Sambalpur. In this regard, it is planning to raise Rs 250 crore from the market for the funding of ... More

    PETROLEUM


    New cell to replace OCC
    THE Government plans to replace the Oil Coordination Committee (OCC) with the Petroleum Planning and Analysis Cell (PPAC) on April 1. The OCC provides a forum for petro-marketing companies to administer the sale of four controlled products ... More

    NELP third offering covers 27 blocks
    THE Government today offered 27 blocks for exploration of oil and gas under the third round of the New Exploration Licensing Policy (NELP-III). Of the 27 blocks, eleven are onland blocks, seven offshore and nine in deepwater areas. The formal ... More

    PHARMACEUTICALS


    NPPA seeks WHO help on medicine costs
    THE National Pharmaceutical Pricing Authority (NPPA) has sought help from the World Health Organisation (WHO) with regard to the `cost per day per medicine' criterion that will form part of the Drug Price Control Order (DPCO) 2002. The recently ... More

    POWER


    Kerala: Power sector to go in for BOT scheme
    THE State Government has decided to introduce the build-operate-transfer (BOT) scheme in the power sector. The Government has already taken a policy decision to open up certain infrastructure areas for private participation through the BOT ... More

    Federal Bank loan for Raichur thermal unit
    THE private sector Federal Bank has sanctioned a term loan of Rs 25 crore for financing unit VII of the 210 MW Raichur Thermal Power Station. A press release here today said, that the loan is priced at 11.5 per cent with a tenor of 13 years and ... More

    Empty purse forces power sale
    THE power-starved State's decision to sell 100 m.w. power to Tamil Nadu is the result of the cash crunch the State Electricity Board is facing. It is unable to purchase power from the NTPC thermal plant at Kayamkulam at a higher price. The ... More

    Tax-free bonds to settle TNEB dues
    THE Tamil Nadu Government will float tax-free bonds with an interest rate of 8.5 per cent to fund a one-time settlement of dues of the Tamil Nadu Electricity Board to the Central power utilities, the Finance Minister, Mr C. Ponnaiyan, told the ... More

    TAXATION


    ICAI plea on easier income norms for trusts
    THE Institute of Chartered Accountants of India (ICAI) has made a case for more flexibility in the proposed modifications to the conditions for accumulation of income of any fund or a trust. In a recent post-budget interaction with senior ... More

    EDUCATION


  • Karnataka: Computers for Govt schools
  • Kerala: School closure move flayed

    ELECTRICAL GOODS


    Electrical gear makers aim at doubling exports by 2003
    THE Indian Electrical and Electronics Equipment Manufacturers' Association (IEEMA) has said it has drawn up an accelerated export development programme to double the industry's exports to Rs 5,000 crore by 2003. The programme, developed after a ... More

    MEDICAL INSTITUTIONS & HOSPITALS


    AP: Registration must for pvt hospitals
    HYDERABAD: Private medical care establishments, which include private hospitals in Andhra Pradesh, would have to compulsorily register with a new Authority to be created soon. A Bill seeking to make this mandatory provision with the ... More

    REAL ESTATE & CONSTRUCTION


    Construction gets a body to lobby
    THE Construction Federation of India (CFI), affiliated to the Confederation of Indian Industries, was set up on Wednesday to lobby for the construction sector. Inaugurating the CFI, Mr N.K. Singh, Member, Planning Commission, said the industry ... More

    MANPOWER


    The buzzword is `rightsizing'
    MANPOWER reduction is not uncommon anymore, even in sunrise industries. More so in manufacturing. It has been a difficult situation, though, for the companies in the country to downsize its workforce considering the size of the population, lack ... More

    KNITWEAR & HOSIERY


    Textile exporters resent high air freight charges
    KNITWEAR exporters, seeking to catch up with late shipments, complain of airlines collecting high freight charges. Exporters are being forced to pay high rates as most airlines have started accepting cargo only on special express rates, which ... More

    DISINVESTMENT


    TN: Panel soon to draft divestment norms
    THE Tamil Nadu Government plans to constitute a commission to frame guidelines for disinvestment in profit-making State-owned undertakings and privatisation of loss-making units and cooperative institutions. Presenting the budget on Wednesday, ... More

    AP: Bidders meet for co-op mills
    HYDERABAD: An investors' meet of bidders for five State-run co-operative spinning mills was organised at Guntur by the Implementation Secretariat, the autonomous body overseeing and implementing the privatisation process in Andhra ... More

    FOREIGN DIRECT INVESTMENT


    The year of international salesman
    TRULY, 2001-02 was the year of the international salesman. The year when the humble door-to-door salesman was vanquished and politicians and Chief Ministers of several States hit the road, touting their wares. As increasing number of doors ... More

    TRADE & LABOUR UNIONS


  • Stick to word, union tells Kerala Govt
  • NTPC `influenced' by big industry

    EVENTS


    Need for honest bureaucracy stressed
    NEW DELHI: A stable Centre and an honest bureaucracy are a must for any social security programme to succeed, according to the Minister of State for Labour and Employment, Mr Muni Lal. Inaugurating a seminar on Integrated Social Security ... More

  • Thiruvananthapuram Engagements
  • Hyderabad Engagements
  • Bangalore Engagements

    SOCIETY & DEVELOPMENT


  • Cardiac diagnostic lab for the poor

    EXPORTS & IMPORTS


    Norms eased for exporting goods to fairs abroad
    THE Reserve Bank of India (RBI) has further liberalised facilities for exporters by permitting them to export goods for exhibitions or sales outside India without taking prior permission from the central bank. Previously, exporters ... More

    RBI raises EEFC limit to aid ECB prepayment
    THE Reserve Bank of India has allowed corporates and other exporters to credit well over 70 per cent of their foreign exchange earnings into Exchange Earner's Foreign Currency (EEFC) accounts, in a bid to enable them to prepay their external ... More


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