Financial Daily from THE HINDU group of publications
Thursday, September 19, 2002
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INDUSTRY & ECONOMY

INTERIORS & HOMES


Crafting a biz out of furniture
A JuJu worktable, a butterfly shelf, a Dommasandra stool or a Pepo table — whacky, unrestrained, yet functional. "Freedom and comfort dwells deep in everything we do,'' says Sarita Fernandes, Director, Quetzel. She along with her partner, ... More

CHEMICALS


`Task force report on chem sector will be implemented'
THE Government would try to implement every recommendation of the Task Force on Chemicals which had submitted its report to the Ministry of Chemicals and Fertilisers in March, the Union Chemicals and Fertilisers Minister, Mr Sukhdev Singh ... More

Chemical cos asked to cut pollution
THE domestic chemicals industry should explore those areas that would result in employment opportunities for the masses and at the same time ensure that the competitiveness of the industry is not eroded, the Vice-President, Mr Bhairon Singh ... More

COURTS/LEGAL ISSUES


Let the auditors work more
INCOME-TAX Rule 18BBB specifies the form of audit report for claiming deduction under Section 80-I or Section 80-IA of the Income-Tax Act which deal with tax sops for new industrial undertakings and infrastructure units. A recent notification ... More

ECONOMY


Joint forum mooted to bridge credit demand-supply gap
IN order to bridge the gap between demand and supply of credit for sustaining the industrial growth of West Bengal, it is essential to go beyond the ritualistic meetings of State-level bankers' committee, and create a joint forum comprising ... More

RBI bid to limit debt payments of States
THE Reserve Bank of India has proposed clubbing of borrowing by the State Government special purpose vehicles (SPV) along with State development loans in a bid to restrict unbridled accumulation of debt. Sources said that the RBI has suggested ... More

IMF sees signs of revival
THE International Monetary Fund (IMF) has voiced qualified optimism about the growth prospects for the world economy this year, following last year's synchronised and widespread slowdown in major economies of the world. In its annual report ... More

Villagers end up spending more on urban products
HOW much does a typical Indian village of 1,000 households, on an average, spend on goods and services that are not produced or available locally? According to one estimate, it could be as much as Rs 70 lakh per annum. Farmers, agricultural ... More

FERTILISERS


SSP manufacturers seek level field
SSP manufacturers have been affected by, what they describe as `discrimination' meted out to them by the State Government's policy in the distribution and allotment of quantities under the Essential Commodities Act during rabi and kharif seasons. More

PHARMACEUTICALS


Pharma sector asked to tap Latam market potential
Citing the benefits of favourable cost structure, Mr. Rudy said the traditional medical system like the Ayurveda, which had gained wider acceptance in the West as an alternative system of medicine, could be tried in the Latin American region. More

TAXATION


Lower advance tax hits mop-up
WITH corporates forking out lower amounts in the second instalment of advance tax both in Mumbai and Delhi, the Centre's net direct tax collections grew just by around 8.6 per cent up to September 15 this year as compared to the corresponding ... More

Finance Act implications — Excise Dept faulted on service tax provision
TAX experts are of the view that the Central Excise Department has still not understood the scope and true purport of the amendment carried out by the Finance Act 2000, with regard to service tax provision, which seeks to initiate recovery action ... More

AP Govt to streamline commercial tax collection structure
THE Andhra Pradesh Government is working towards further streamlining the tax structure by plugging the loopholes in the existing system, introduction of advance waybill and rationalising the commercial taxes. Following a performance review ... More

TEXTILES


`PTA may hit textile exports'
EMERGING dynamics in the global textile trade increasingly point to preferential trade arrangement (PTA) acquiring over-riding importance, especially in clothing. This may prove costly for India because it is the only country remaining outside ... More

HYPO relief for 220 mills in South
OVER 200 textile mills in the southern region which faced shortfall in fulfilling the hank yarn packing obligation (HYPO) has got a breather in the recent relaxation in time limit for fulfilling the HYPO extended by the office of the Textile ... More

  • Arrears to weaving co-operatives

    EDUCATION


  • Sarabhai space centre contests for students

    CARS


    Lower taxes will see more car sales: Crisil
    In India, various taxes such as excise duties and Central and State sales taxes have a cascading effect, pushing up the ex-factory price of a car by around 60 per cent. More

    READYMADE GARMENTS


    Apparel Park to get Rs 17-cr Central aid
    THE Kinfra International Apparel Park would soon be receiving an assistance of Rs 17 crore from the Centre under a programme to promote export-oriented apparel industry. Speaking to newspersons, Dr G.C. Gopala Pillai, Managing Director, Kinfra, ... More

    DISINVESTMENT


    Oct 17 deadline for divestment review panel — Samata Party flexes muscles
    THE Government's disinvestment programme faces a renewed threat from the Samata Party, a constituent of the ruling National Democratic Alliance (NDA). The party is now planning to set a deadline of October 17 for the Prime Minister to set up a ... More

    Naik not against strategic sale of state-owned cos
    THE Petroleum Minister, Mr Ram Naik, has said that he is not against the strategic sale route for divestment of state-owned companies. He said that he had cleared the privatisation of Engineers India Ltd (EIL) and Balmer Lawrie through the ... More

    Deepak Fert submits price bid for RSP unit
    DEEPAK Fertilisers and Petrochemicals Ltd (DFPL) has submitted its price bid for the fertiliser unit of the Rourkela Steel Plant. Sources said that after the withdrawal of the public sector Rashtriya Chemicals and Fertilisers Ltd (RCF) from the ... More

    FOREIGN DIRECT INVESTMENT


    Cabinet defers move on hiking FDI cap
    THE Union Cabinet on Wednesday deferred a decision on hiking FDI limits in telecom, domestic airlines and insurance sectors as per the recommendations made by the Group of Ministers (GoM) on foreign investment. An official spokesperson said the ... More

    WTO


    WTO: The punching bag!
    "Tata Engineering to counter WTO threat with LF (low-floor) buses", read a headline in a respected business daily in June. This news item was from a wire service story. I was surprised why should a large and respected business house need ... More

    RURAL DEVELOPMENT


    `Plan funds for local bodies to be utilised fully'
    THE State Finance Minister, Mr K. Sankaranarayanan, has said that the Government will ensure that allocations being earmarked to the local bodies under the 10th Five-Year Plan would be utilised in their entirety. The Minister observed this ... More

    INDUSTRIAL POLICY


  • Kappalur estate units' plea to Govt

    EVENTS


    How much must a CEO take home?
    HOW much salary should the chief executive of a company earn? At the most, 15 times more than what the lowest level employee in the same company gets. That's what Mr N.R. Narayana Murthy, Chairman and Chief Mentor of Infosys Technologies, ... More

  • Hyderabad Engagements

    INCOME TAX


    I-T dept survey at DD premises
    INCOME-TAX officials carried out a survey at the Doordarshan premises in Mandi House as part of its investigations into the alleged tax evasion by television serial producers. Finance Ministry sources said that the survey was conducted last ... More

    EXPORTS & IMPORTS


    Exporters protest decision to relocate DGFT offices
    THE exporters' community in Kochi on Wednesday reiterated their displeasure over the Union Commerce Ministry's decision to upgrade the current extension counter of foreign trade at Thiruvananthapuram to the level of Joint Director-General Of ... More

    TOURISM


  • Rs 2.87 cr for tourism works
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    Top Stories
    Electrolux Kelvinator board okays cut in offer size of rights issue


    i-flex launches business intelligence division

    ICO plans promotion fund re-launch to boost offtake

    UCO Bank to go for IPO next fiscal

    `Task force report on chem sector will be implemented'

    Modified subsidy policy to cover private shipyards

    In Depth
    Gender Justice
    Simple Economics
    Small Investor
    Looking back
    Sep. 8-Sep. 14
    Cement majors flout jute order

    Why disinvestments must go on

    As China booms and preys, Hong Kong rues lost business

    Corporate tax collections up 45%

    Implications of 100 pc FDI in oil sector

    Industrial growth 6.4 pc in July — CSO data point to revival trend

    Productivity-linked reward scheme — Port, dock workers to press for flat 20 pc payment

    Textile, plantation sectors drag export growth — Modest growth in gem, jewellery, petro goods

    Insulin prices hiked; TB drugs to cost less


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