The Hindu Business Line : Monday, April 01, 2002

Global airlines still keen on `Maharaja'
EVEN as the Government decides on its next move on the Air India (AI) disinvestment process, some international airlines have shown keen interest in picking up a stake in the Maharaja. ``On recent visits abroad, Indian officials were approached ... More

ECONOMY

Deadline for zero revenue gap may be pushed back
THE Government's failure to meet the budgeted deficit targets over the last few years has forced the Finance Ministry to consider pushing back the five-year deadline for the elimination of revenue deficit proposed in the Fiscal Responsibility and ... More

CAG raps Govt for poor fiscal management
THE Comptroller and Auditor-General of India has found several lapses in the Andhra Pradesh Government's fiscal management approach. In its review for 2000-2001 and over a five-year time frame, the CAG faulted the State for its financial ... More

Q3 current account posts surplus after nine years
THE `current account' surplus in the third quarter of the current fiscal on India's balance of payments released by the RBI on Saturday ends a record of successive deficits witnessed over the last nine years, for this period (third quarter). ... More

PETROLEUM

Petrol, diesel imports through IOC to continue
THE dismantling of the administered pricing mechanism (APM) on petro-products from April 1 notwithstanding, the Government has decided against changing the existing system of canalising imports of petrol and diesel through the Indian Oil ... More

POWER

CF lamps: Ray of hope amid power crisis?
IT may sound a bit too far-fetched if someone says that compact fluorescent lamps (CFLs) will solve Kerala's perennial problems on the power front. It may even be construed as a ruse to help out the CFL manufacturers in the country and ... More

Chamber welcomes new tariff order
HYDERABAD: The Federation of Andhra Pradesh Chamber of Commerce and Industries (FAPCCI) has welcomed the power tariff order in Andhra Pradesh with the introduction of the new tariff based on the APERC's recommendations. In a ... More

Raichur thermal power station units 3, 4 -- ICICI-Lombard emerges lowest bidder for risk cover
GENERAL Insurer ICICI-Lombard (I-Lomb) has emerged as the lowest bidder for providing risk cover to Units Three and Four of the Raichur thermal power station (RTPS). This is ICICI-Lombard's first major bid for non-motor risk cover contracts ... More

Staggered power cuts
THE State is in for staggered power cuts with the demand supply gap increasing due to the ongoing rabi season necessitating partial cuts by APTransco. The energy demand has shot up to 160 MUs this summer with the demand for rabi crop going up ... More

SSI

Subsidy to SSIs on the decline
THERE has been a steady fall in State investment subsidy for small-scale industries in Kerala, which is at variance with the Government's avowed objective of speedy industrialisation of the State. During the period between 1995-96 and ... More

EXIM POLICY

Farm exports freed; thrust to SEZs -- Maran gives Exim policy a friendly push
IN a momentous move to push India's exports aggressively, the Government today announced several measures aimed at augmenting exports of farm goods, the small-scale sector, textiles, gems and jewellery, electronic hardware, leather, besides ... More

Bleak export scenario set to change: Maran
THE Union Commerce and Industry Minister, Mr Murasoli Maran, is "optimistic" that the "comprehensive" export-import (Exim) policy he unfurled today for the next five years (2002-07) would alter the "export scenario, which is disturbing now and ... More

Simplified norms; specific packages
THE new Exim policy for 2002-07 has attempted to provide an enabling environment to make exports easier by announcing a series of procedural simplification under various schemes currently being operated officially. These include, among others, ... More

New initiatives to drive export growth
The following are excerpts from the Five-Year Exim Policy (2002-07) unveiled on Sunday by the Union Commerce Minister, Mr Murasoli Maran: I HAD constituted a High Level Committee headed by the former Commerce Secretary, Mr P.P. Prabhu, ... More

Salient features of the Exim policy 2002-07
OFFSHORE banking units (OBUs) shall be permitted in SEZs. Detailed guidelines are being worked out by the RBI. This should help some of our cities emerge as financial nerve centres of Asia. Units in SEZ would be permitted to undertake hedging ... More

No to global financial centre in SEZs
EVEN as the Finance Ministry has agreed to income-tax sops and service tax exemption to special economic zones (SEZs), it has rejected the Commerce Ministry's proposal to allow the setting up of an international financial centre in one of the ... More

Extra revenue outgo on sops at Rs 1,000 cr -- Total outflow may top Rs 27,000 cr in 2002-03
WILL the concessions given to exporters under various export promotion schemes aid in doubling exports from $40 billion to $80 billion over the Tenth Five-Year Plan? While the Commerce Ministry's answer is yes, the Finance Ministry has its ... More

`We want a critical mass of exports'
THE five-year Export-Import (Exim) policy seeks to cash in on the advantages that had accrued to the country over the last 10 years of economic reform process, the Director-General of Foreign Trade (DGFT), Mr N.L. Lakhanpal, says. In an ... More

`Path-breaking policy, will boost exports'
The announcements also outline several measures to support State Governments to create an enabling environment for the exporters; for instance, the assistance to tackle infrastructure gaps and funds assistance based on gross exports and the export gr owth. More

Maran bullish on 1 pc target -- Package for services export coming
A SEPARATE policy package for services exports is on the anvil, with the Commerce and Industry Minister, Mr Murasoli Maran, today announcing that an internal committee is close to finalising its recommendations. "A special committee of the ... More

Offshore branches will lead to easy transactions: Ballabh
OVERSEAS banking units proposed under the Exim Policy will not only help provide funds at international costs to units in the special economic zones (SEZs) but also will facilitate easy transactions of export deals, according to Mr Janki Ballabh, ... More

Exports to new markets to go up 15-30 pc
EXPORTS to new markets such as Latin and South American countries and also to Africa, will go up by 15 to 20 per cent after the Exim policy initiatives are fully implemented. The main reason for this would be diversion of Indian exports from ... More

Textile industry upbeat on retention of schemes
THE continuation of the export promotional schemes such as DEPB, advance licence scheme, EPCG in the new long term Exim policy unveiled on Sunday has cheered up the textile industry as both the organised and decentralised textile sectors remained ... More

`Maran's message is export or perish'
ONE thing that comes out clearly in the Exim policy is that the Commerce and industry Minister, Mr Murasoli Maran, has realised the national economic importance of exports. It is either export or perish. And, with this in mind, the Exim policy ... More

No incentives for States: GMCI
ONE area that has been untouched is the support to the State Government, the Greater Mysore of Chambers and Industry (GMCI) said of the Exim Policy. What is striking about the policy all these years is the lack of support to State Governments, ... More

Comprehensive, says Cochin SEZ
EXPORTERS at the Cochin Special Economic Zone has welcomed the new Exim policy as "comprehensive and pro-exports''. Mr K.K. Pillai, former President, Kochi SEZ Industries Association, said that the policy was aimed at boosting exports and was ... More

Chambers hail Exim policy
THE apex chambers of commerce and industry have welcomed the pr-oactive and export-friendly Exim policy measures. Stating that the Exim policy had sought to create a framework for enhancing India's export capability, the President of he ... More

`Boost for agri exports'
WITH the Commerce Minister, Mr Murasoli Maran's observation that the Exim Policy encompasses sectors which take care of more that 80 per cent of the population, his document joins the 2002-2003 Union Budget in putting agriculture ... More

Growth-oriented policy, says FIEO

BREWERIES

Liquor sector wants lower CVD move rolled back
IF it's the season for roll-backs, can the alcoholic beverages industry be far behind? Drawing up the bogey of a deluge of "cheap foreign liquors" entering the country, the domestic liquor industry has urged a reversal of Budget 2002-03's ... More

GEMS & JEWELLERY

Gem trade wary of diamond duty cut
THOUGH its measures seem favourable, the Exim policy's impact will depend on actual implementation, sources in the gem and jewellery export industry, said. As announced today by the Union Commerce Minister, Mr Murasoli Maran, the policy seeks ... More

READYMADE GARMENTS

Focus on cluster-based units -- Tirupur hosiery sector hails policy thrust
THE new long-term Exim Policy unveiled by the Union Commerce Minister, Mr Murasoli Maran, on Sunday has elated the Tirupur knitwear industry. For the first time, the Commerce Ministry has recognised the cluster-based industry while formulating ... More

SCIENCE & TECHNOLOGY

Solid motor for PSLV 3rd stage

DISINVESTMENT

ITI removed from sell-off list on `strategic' grounds
THE Union Government has dropped state-owned telecom equipment manufacturer ITI Ltd from its list of possible divestment targets "due to strategic reasons", company sources have said. "There will be no further divestment of existing equity in ... More

Four bidders for Nizam Sugars unit
HYDERABAD: Four bidders — Gayatri Sugar Complex Ltd, Bharat Alloys & Energy Ltd, EITA India Ltd, and NCS estates Private Ltd — have submitted their bids for the Latchayyapeta sugar mill of the Nizam Sugars Ltd, which was ... More

ITDC divestment proceeds to be shared with States
THE Union Government will share a portion of the proceeds accruing from disinvestment in Hotel Ashok properties set up with land leased by the State Governments free of cost or on concessional basis to India Tourism Development Corporation. The ... More

RURAL DEVELOPMENT

Targeting self-help groups for rural development -- IDE offers drip irrigation systems for small far
``Since formal credit structures, especially banks, are unwilling to offer loans for such programmes, we find that SHGs are the ideal mechanism to promote the use of enabling technologies,'' More

EVENTS

Hyderabad Engagements

Competition for architects

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`More should be done to build infrastructure' — Mr Michael Everard. BIMCO President

Bleak export scenario set to change: Maran

Simplified norms; specific packages

New initiatives to drive export growth

Butter oil from New Zealand seized for `under-invoicing'

Extra revenue outgo on sops at Rs 1,000 cr -- Total outflow may top Rs 27,000 cr in 2002-03

In Depth
Inside Kashmir

Guide to derivatives