Financial Daily from THE HINDU group of publications
Wednesday, April 02, 2003
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INDUSTRY & ECONOMY

RESEARCH & DEVELOPMENT


AP mulls R&D institute for future technology
HAVING tasted success in promoting and developing educational and research institutions such as the Indian Institute of Information Technology (IIIT), Indian School of Business (ISB), Biotechnology Park and Genome Valley, the State Government is ... More

ECONOMY


CAG faults AP finance accounts
IN violation of the rules made by the President of India, the Andhra Pradesh Government has exhibited grants-in-aid to local bodies of Rs 761.59 crore under capital section instead of revenue section of the accounts. This led to understatement of ... More

  • Group on Iraq war fallout constituted

    ENVIRONMENT


  • `Clean Kerala' phase II launched

    EXCISE AND CUSTOMS


  • Customs & Excise collections up in AP

    HOTELS


    War takes its toll on hotel industry
    THE domestic hotel industry in the organised sector is once again facing rough weather because of the war in Iraq. Nearly all hotels have been affected and it is feared that the impact will worsen if the war continues for some time, according ... More

    PETROLEUM


    Oil refiners to be paid full market prices
    OIL refiners will, from today, get full market prices for the petrol, diesel, LPG and kerosene they sell to the oil marketing companies, according to industry sources. The prices paid to the refiners on kerosene and LPG were capped in November ... More

    POWER


    Cabinet okays six-level intervention plan — Rs 40,000 cr earmarked to rev up State power boards
    KEEPING in mind the seriousness of health situations of the State electricity boards (SEBs), the Union Cabinet has approved a six-level intervention reforms process. The Cabinet has decided to give financial assistance up to Rs 40,000 crore to ... More

    ABT system put in place in all major power regions
    AFTER nearly a two-year delay, the availability-based tariff system (ABT) — seen as a major plank of power reforms — has come into force in all the major power regions of the country. The process, which was initiated with the ... More

    Free power costs Singareni Rs 228 cr
    SINGARENI Collieries Company Ltd (SCCL), a public sector undertaking, has incurred an additional expenditure of Rs 228.37 crore on account of supply of power free of cost/concessional rate beyond the limits specified in National Coal wage ... More

    TAXATION


    VAT introduction postponed; new date to be fixed
    THE Finance Ministry on Tuesday formally admitted that State governments have not been able to meet the April 1 deadline for introduction of the Value Added Tax (VAT) regime. An official release stated here that the Centre had, so far, received ... More

    Mixed response in Kerala
    THE second day of the two-day strike called to protest against the imposition of the value added tax (VAT) evoked a mixed response in the city. Many more shops in the city's central business area were open for business on Tuesday, but petrol ... More

    TN: `Previous Govt's sales tax sops cost Rs 145 cr'
    THE Tamil Nadu Finance Minister, Mr C. Ponnaiyan, on Tuesday said that sales tax concessions granted by the Government between 1996 and 2001, when the DMK was in power, had cost the exchequer about Rs 145 crore. Replying to the discussion on ... More

    Karnataka: Bandh brings business activity to a halt
    BUSINESS came to a virtual standstill in many parts of the city as several establishments pulled down their shutters to observe `Bharat Bandh' in support of the call given by the Bharat Udyog Vyapar Mandal to protest against "hurried ... More

    TEXTILES


    Powerlooms halt production in protest against Cenvat
    WEAVERS in major powerloom clusters in Tamil Nadu have stopped loomshed activities in protest against the Cenvat excise duty system for fabric which came into effect from Tuesday. The stoppage of looms has thrown both the yarn and fabric ... More

    Cenvat reimbursement on hank yarn okayed
    THE Cabinet Committee on Economic Affairs (CCEA) has approved introduction of a non-plan scheme for reimbursement of Cenvat on hank yarn. The scheme envisages reimbursement of Cenvat paid on plain reel cotton and cellulosic spun yarn packed in ... More

    WATER


    `States' consensus vital for interlinking of rivers'
    KERALA has told the National Water Development Agency, which assists the Task Force On Interlinking of Rivers, that the river networking proposals should be approved and implemented only with the full consent and cooperation of the States ... More

    Kolkata seeks British help in developing waterfront
    TOWN planners in Kolkata have intensified their quest for sustainable development of the waterfront in league with the London Rivers Association (LRA). Representatives of LRA are now in the city, participating in a workshop on the Kolkata ... More

    Rs 10 crore released for Godavari project
    Technical bids for the water projects will be called within a week and a timeframe of 14 days has been fixed for evaluating them. More

    EXIM POLICY


  • FIEO hails new EPCG scheme

    RADIO/TV


    SCV offers CAS for Star channels
    SCV, the cable distribution company belonging to the Sun TV group, which is embroiled in a row with the Star TV network, is ready to offer conditional access system (CAS) immediately so that viewers dependent on it for service can watch ... More

    EDUCATION


    TN Engg admissions likely to be smooth this year
    EVEN as the countdown to the entrance examinations to professional courses has begun, there is something for the aspiring students to cheer about — their earlier fears that the admission process this year in Tamil Nadu may not be smooth may ... More

    Jadavpur ties up with Globsyn for PG diploma
    JADAVPUR University has tied up with Globsyn Technologies Ltd to launch a post-graduate diploma course in software engineering & business management. Globsyn Technologies is engaged in the business of creating IT infrastructure and training ... More

    INDUSTRY ASSOCIATIONS


    Construction product majors join hands
    CONSTRUCTION product and services majors have joined hands to come under one roof as a confederation. The new body, called the Confederation of Construction Products and Services (CCPS), is headed by Mr S.K. Somany, Managing Director, SPL Ltd, ... More

    FAPCCI lauds Exim policy
    THE removal of five items including paddy, rare earth and cotton linters, from the restricted list of exports, would enhance India's exports and help in attaining the goal of one per cent share in the world trade, according to the Federation of ... More

    VAT implementation only after completing formalities, says KCCI
    The chamber feels that the Government must ensure that no other tax like entry tax, Octroi and similar taxes should be `in place' when VAT is introduced. More

    `Cooperation vital for growth'
    MUTUAL cooperation along with competition were the key elements for the overall industrial growth, whether domestic or global, since it enables the industry participants leverage their complementary strengths and achieve economies of scales, ... More

  • Satish Reddy is CII chief (AP Chapter)

    KNITWEAR & HOSIERY


    Tirupur tops in race for excise registration
    TIRUPUR has accounted for the highest number of applications received for registration with the Central Excise authorities on the first day of excise registration, which opened here today under the modified excise rules for the textiles and ... More

    SCIENCE & TECHNOLOGY


    India, Canada sign MoU on geo-sciences
    A MEMORANDUM of understanding (MoU) was signed on Tuesday at Ottawa between India and Canada to set up a framework for mutual cooperation in the field of geo-sciences. Mr Ramesh Bais, Union Minister for Mines, and Mr Herb Dhaliwal, Minister for ... More

    FOREIGN DIRECT INVESTMENT


    High FDI inflows show investor confidence: Jaitley
    CONTINUED investor confidence in the country is getting reflected in the highest ever inflows of foreign direct investment (FDI) during 2002, the Minister for Commerce and Industry, Mr Arun Jaitley, said here on Tuesday. "There are indications ... More

    LABOUR REFORMS


    Jaitley wants flexible labour laws for SEZs
    A DAY after announcing an "exporter-friendly" Exim Policy, the Union Commerce and Industry Minister, Mr Arun Jaitley, has called for larger consensus among the political parties on the matter of granting flexibility in labour laws in the special ... More

    EVENTS


  • Thiruvananthapuram Engagement

    EXPORTS & IMPORTS


    `EDI scheme wil help exporters cut transaction costs'
    THE Minister for Commerce and Industry, Mr Arun Jaitley, today said that the proposed Electronic Data Interchange (EDI) scheme for exporters would help them cut down transaction cost and become more competitive in the global market. Addressing ... More

    RBI lifts curbs on realisation of SEZ export proceeds
    THE Reserve Bank of India has lifted the restriction on units situated in special economic zones (SEZs) for the realisation of export proceeds. Hitherto, units had to ensure realisation within a period of one year. As a further measure of ... More

    Exports surge 14 pc in Feb
    Officials in the Commerce Ministry that the export growth during the fiscal 2002-03 was powered by traditional segments like garment (textiles), gem and jewellery, chemicals and related products. More

    Foreign cos can set up shop in special economic zones
    A FOREIGN company can now set up a branch in any of the special economic zones (SEZ) of the country to undertake manufacturing or trading activities. Branches of foreign companies were hitherto permitted to only undertake liaison activities in ... More

    Euro may beat weak $ in exporter invoicing
    FACED with a weakening US dollar, bankers are advising Indian exporters to start invoicing their receipts in euros. Bankers said this was being done partly to offset the losses being suffered by the exporters due to the depreciation of the ... More


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    In Focus
    Run-up to Budget
    Kelkar Report
    Bottled water: How safe is it?
    Telecom Competition
    Oil PSUs: Disinvestment dilemma
    Housing Fin. rate war: Bonanza for consumers!
    NPAs in Banking
    In Depth
    Simple Economics
    Consumer Notes
    Tax Talk
    The Brahmananda collections
    NRIs & Investment Avenues
    Corporate Governance
    Gold: Still the winner?
    Cars: Always a beauty
    Books and Reviews
    Looking back
    Mar. 23-Mar. 29
    Iraq conflict unlikely to boost Gulf states' defence spending

    Banks given more leeway to finance divestment

    India emerges global R&D base for MNCs

    Conditional access — many queries still unanswered

    Banks refuse refinance support to State PSUs

    Manufacturing does better by its employees

    Divestment of oil PSUs gets SC nod

    `FBTR: We had to cross many a hurdle' — Mr S.B. Bhoje, Director, Indira Gandhi Centre for Atomic Research

    Fallout of Iraq war — Power purchase cost of South plants set to soar

    TDS on fare differential — Travel agents get notice

    War creates a gulf for mango exports to W. Asia — Alphonso may come for a song in domestic market

    `Indian N-reactors set new global benchmark'

    Motorcycle sales slow down

    No service tax exemption on forex earnings, says CBEC chief — Relook at excise on branded edible oils

    NCAER survey pegs car demand growth at 8 pc

    FDA move likely to hit food products export — Trade sees prior information norms `impractical'

    New excise system makes steel dearer to consumers

    Spinners wake up to falling cotton yield


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