The Hindu Business Line : Thursday, July 08, 2004

ECONOMIC SURVEY
Survey hints at bold moves to sustain growth — `Improvement in fiscal situation is critical element'
A DAY before the Union Budget 2004-05, the Finance Ministry has made a rather bullish prognosis of the economy even while hinting at hard fiscal measures and "bold actions" to consolidate the current "growth momentum." "The economy appears to ... More

Pointers to overhaul of tax exemptions
IN a clear indication of the nature of tax reforms that may be announced by the Finance Minister, Mr P. Chidambaram, in his Budget speech on Thursday, the Economic Survey for 2003-04 has called for an overhaul of the regime of exemptions and ... More

Power reforms yet to benefit SEBs
THE power sector reform measures undertaken by the States with Central support have not yet made a significant impact on the finances of the State electricity boards (SEBs) across the country, according to the Economic Survey, which was tabled in ... More

India Inc concern over roadblocks to growth rate
INDIA Inc has supported the five-point action agenda proposed in the Economic Survey — the need for fiscal consolidation, boosting farm growth, expanding industry by 10 per cent, keeping inflation rate to 5 per cent and sustaining a growth ... More

'Postal subsidy rationale should be clarified'
THE Economic Survey 2003-04 has urged the Government to review the rationale and size of postal subsidy projected at Rs 1,204 crore for the current year. The Survey has said that though the deficit has dropped from Rs 1,550 crore in 2000-01 to Rs ... More

'Women workforce in rural areas down'
THE country may be marching towards development and getting increasingly globalised, but when it comes to the lot of almost half its population - women - conditions are still far from encouraging for their growth and development. Take for ... More

Survey short on policy suggestions
Lest the Left parties should spoil any chance of going ahead with second generation reforms, the Survey calls for "a popular consensus on the twin issues of more flexible labour laws and less friction in the creation and closure of firms in response to normal competitive market dynamics". More

Pvt airlines capture 60% of market share: Survey
FOR the second successive year, private airlines have managed to capture the lion's share of the domestic aviation market. The Economic Survey for 2003-04, tabled in Parliament on Wednesday, states that the airlines now account for 60.1 per ... More

More transparency in PSUs sell-off
THE Economic Survey says that privatisation of public sector undertakings will be considered on a transparent and consultative case-by-case basis. Quoting the Common Minimum Programme (CMP) of the United Progressive Alliance (UPA), the Survey ... More

More spending must for healthcare sector
IN line with the recommendations of the Common Minimum Programme (CMP), the Economic Survey has reiterated the need for larger spending in healthcare services. The Survey states that larger investments in the health sector will be needed to ... More

Tele-density, Net connectivity low — Policy thrust on spectrum, broadband must
`One problem inhibiting dial-up Internet use is the lack of flat fee unlimited access tariff plans for fixed line telephony'. More

Call to encourage private investment in infrastructure
RECOGNISING that sustainable economic growth hinges on the availability of efficient infrastructure, the Economic Survey has called for a sound policy framework to spur investment, especially by the private sector. "A sound policy framework is ... More

`Rigidity of labour laws acting as impediment'
THE Economic Survey 2003-04 has said that the rigidities in labour laws are acting as impediments to building large firms and reaping the economies of scale and scope. It, however, takes note of the fact that the State Governments of Gujarat ... More

IT's major success story, says Survey
TERMING the information technology industry as a major success story, the pre budget Economic Survey on Wednesday said the domestic IT and electronics sector witnessed a 21.6 per cent growth during 2003-04. The survey also lauded the ... More

Centre to re-model laws on winding up sick units
Frictions faced in the creation and closure of firms in response to normal competitive market dynamics has been highlighted in the Economic Survey 2003-04 as one of the major constraints, which appear to play a prominent role in influencing ... More

`Protectionist steps against outsourcing hurt efficiency'
THE recent backlash against outsourcing IT services to countries like India today found a special mention in the Economic Survey. It noted that such "protectionist measures" missed out not only efficiency gains but also employment gains from ... More

Domestic policy change may attract higher FDI
THE Economic Survey has reiterated that foreign investment was important not only for the funds they bring but also for technological upgradation, gaining access to global managerial skills and practices as well as to compete internationally with ... More

Centre lauds States for fiscal prudence
THE Union Government has lauded the fiscal reform efforts initiated by States such as Karnataka, Kerala, Punjab, Tamil Nadu and Uttar Pradesh towards putting in place fiscal responsibility legislations at the State-level. Hinting at the need ... More

Auto industry gets pat on the back
THE Economic Survey released on Wednesday has complimented the Indian automobile industry for its success on the export front, led by a host of global automakers using India as a production base either directly or through joint ventures. ... More

Call to rework anti-poverty strategies
THE Economic Survey has called for reformulation of anti-poverty strategies that are fiscally sustainable and more finely targeted even as it pointed out that there has been a significant decline in the number of people living below the poverty ... More

Seamless norms for primary market on cards
A SEAMLESS allotment procedure for the primary market without any human intervention is in the offing, according to the Economic Survey. Mentioning the problems faced by investors during the ONGC public issue, the Survey stated that a ... More

`Fee hike in higher education must'
THE Economic Survey has recognised a need for fee hike in higher education, while regretting that it may not be implemented due to "political economy" constraints. It has also expressed concern over the poor literacy rate in the country ... More

Survey stress on public transport in urban areas
WITH one-third of India living in cities, the Economic Survey has called for greater emphasis on urban infrastructure, especially public transport. According to the Survey, an efficient public transport system not only improves the energy ... More

Exporters cautioned on stiff fight from new EU nations
THE Government has hinted at easing its policy framework to facilitate Indian businesses to remain competitive in the export market, following the accession of ten East European nations into the European Union (EU). Admitting that the ... More

Immediate revival of WTO talks sought
MULTILATERAL trade negotiations under the aegis of the World Trade Organisation (WTO) need to be revived on an urgent basis, according to the Economic Survey for 2003-04. The Survey has held that a successful conclusion to the Doha Development ... More

BUDGET
Getting ready for Budget presentation
The Finance Minister, Mr P. Chidambaram, with the Minister of State, Mr S.S. Palanimanickam, at the North Block in the Capital on Wednesday. Also seen are (from left) the Revenue Secretary, Ms Vineeta Rai, the Chief Economic Advisor, Mr Ashok ... More

COURTS/LEGAL ISSUES
Calcutta HC quashes Jute Packaging Order
TWO positive developments have taken place for the ailing jute industry. While the Calcutta High Court quashed the Union Government's move to dilute the mandatory packaging orders, the Prime Minister has assured more jute bags for the packaging ... More

ECONOMY
India is a high productivity centre, says ABB official
"WE see India as a high productivity centre, rather than a low-cost centre," said Mr Gary Steel, Executive Vice-President and Head of Human Resources, ABB Ltd. Terming low-cost as disparaging to India's image, he said that even if cost of ... More

`Remove impediments for 10 pc industrial growth'
THE Economic Survey 2003-04, while calling for a 10 per cent growth in industrial output, has cautioned that the target can be achieved only if impediments, such as reservations for the small-scale sector, rigid labour laws and difficulty in ... More

ENVIRONMENT
Greenpeace demands closure of HIL unit
GREENPEACE, a global environment organisation, has demanded the immediate closure of the Hindustan Insecticides Ltd (HIL) factory and other hazardous units operating in the Eloor Industrial Estate in view of the fire, which broke out in one of ... More

HEALTH
Gere launches `Heroes Project' to fight AIDS
HOLLYWOOD star Richard Gere came calling here on Wednesday to spread awareness on HIV/AIDS. And the message that the lead actor of Pretty Woman brought with him was anything but pretty. One in seven people infected by HIV/AIDS are in ... More

`Serious AIDS epidemic in some States'
EVEN as the National AIDS Control Organisation (NACO) says that there is no galloping HIV/AIDS epidemic in India, UNAIDS, in its latest report released on Tuesday, indicated that it is a serious epidemic in a number of provinces, territories and ... More

Rare neuro surgery performed in AP
HYDERABAD: An Image Hospitals team has performed a rare surgery using video-neuroendoscopy to save the life of a 50-year-old man. Using the technique, the doctors decompressed a cyst in the brain. "The cyst was causing obstruction of ... More

INFRASTRUCTURE
Nagarjunasagar Tail Pond Dam by 2010: Minister
35 more public enterprises are proposed to be privatised as part of the Public Enterprises Reforms. More

Kerala Govt to float co for development of Vizhinjam port
The Government has held discussions with seven Indian companies and four foreign firms. The plan is to reclaim about150 acres from the sea for the implementation of the project. More

PETROLEUM
4 petroleum majors submit EOIs for gas supply to MSEB
OIL majors Gail (India), Shell, Indian Oil and Bharat Petroleum have submitted expressions of interest (EOI) for the LNG supply tender issued by the Maharashtra State Electricity Board. The EOIs will be scrutinised and final bids, for two ... More

POWER
Gujarat eyes country's `energy hub' status
Much would depend upon the costing at which NTPC is able haul gas over some 1,400 km from the eastern coast to the western coast. More

`Energy efficiency vital for competitiveness'
SPEAKERS at a one-day training programme on energy management have urged the industry to focus on energy efficiency to remain competitive in the market. Whether business is commercial, industrial or institutional, energy is part of value chain ... More

Indira Sagar project turns profitable within three months — Work going on ahead of schedule
IN a noteworthy achievement, Narmada Hydroelectric Development Corporation (NHDC) has registered a profit in the first three months of the partial commissioning of its power project at Indira Sagar in Madhya Pradesh. The company posted a ... More

TRAVEL & PLACES
New passport application forms in use from today
THE External Affairs Ministry has introduced a new passport application form to be used from July 8. Mr G. Mathi Vathanan, Regional Passport Officer, said that now there will be only two application forms (earlier there were three). The ... More

TYRES
Tyre industry to brace for dumping duty on NTCF
THE Rs 12,000-crore domestic tyre industry, which has been bearing the brunt of escalation in natural rubber prices, may soon be faced with more cost push on the raw material front. The Designated Authority in the Commerce Ministry has ... More

BREWERIES
AP brewers call for reforms in excise policy
SEEKING an early revival of the brewery industry in Andhra Pradesh, the country's largest market in terms of volumes, the All India Brewers' Association (AIBA) has urged the State Government to initiate reforms in the excise and distribution ... More

RADIO/TV
Sun TV buys land in Chennai for Rs 3.3 cr
SUN TV has purchased 10 grounds in MRC Nagar from the Madras Stock Exchange for Rs 3.3 crore. Official sources said that the deal was concluded towards the end of June. They added that the land had been originally earmarked for residential ... More

EDUCATION
Aptech degree courses
HYDERABAD: Aptech University has announced the launch of its degree programmes for students aiming to pursue courses in management, IT, media studies, humanities and social sciences along with other diploma and certificate modules. This ... More

Keltron multimedia course
THIRUVANANTHAPURAM: The Kerala Sate Electronics Development Corporation (Keltron) intends to commence from July 21 a year long flexi-time Professional Diploma course in Advanced Animation Technologies for the benefit of college-going ... More

INDUSTRY ASSOCIATIONS
Plumbing body plans seminar
CHENNAI: The Indian Plumbing Association, a national body of plumbing professionals will hold a seminar in Chennai on Saturday, on the theme "Pre-requisites for good plumbing". Mr K.V. Rangaswami, Senior Vice-President, L&T, is expected ... More

Merchants chamber concern over rising inflation
THE Indian Merchants Chamber (IMC) has expressed concern over the rising rate of inflation and high fiscal and revenue deficits, pointing out that the firming up of the energy and primary product prices had resulted in the inflation rate crossing ... More

KNITWEAR & HOSIERY
Bangalore Bio to foster Indo-German tech cooperation
BANGALORE Bio 2004 being held next week will have a strong German presence from some majors from the German biotechnology industry. A 15-member delegation organised by the federally sponsored International Technology Cooperation Network (ITCN) ... More

SMALL SAVINGS
EPFO snaps ties with SBM in Karnataka
MANGALORE: The Employees Provident Fund Organisation (EPFO) has announced that the arrangement with State Bank of Mysore for disbursement of pension under the Employees' Pension Scheme, 1995, and Employees' Family Pension Fund Scheme, ... More

RURAL DEVELOPMENT
TN village panchayats' plea
MADURAI: The Tamilnadu Village Panchayat Presidents' Federation has urged that drought relief works must be entrusted to panchayats. In a meet with the press here, the federation President, Mr S.M. Miniyaandi, emphasised that such works ... More

Dhanalakshmi Bank to aid SHGs
KOCHI: Thrissur-based Dhanalakshmi Bank will focus on promotion self-help groups through micro credit programmes, which is expected to kindle growth in the rural sector. Already hundred branches of the bank are engaged in providing ... More

LABOUR REFORMS
Labour Ministry core group to monitor CMP schemes
THE Ministry of Labour has constituted a core group to monitor the implementation of policies and programmes regarding employment, contained in the Common Minimum Programme (CMP) of the United Progressive Alliance (UPA) Government. The ... More

EVENTS

In Hyderabad today

TOURISM
AP tourism to woo Far East tourists
HYDERABAD: Andhra Pradesh Tourism Department has decided to tap the countries in the East and Far East, where lakhs of people hailing from the State live. The Government would like to take the help of the Telugu film industry in this ... More