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Wednesday, February 02, 2005

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INDUSTRY & ECONOMY

AWARDS & HONOURS


Award for NGRI scientist
HYDERABAD: Dr Shakeel Ahmed, a senior scientist at National Geophysical Research Institute (NGRI), has been selected for the international prize `Lights of Water' at the conclave on water held at Cannes in France. According to an NGRI ... More

BUDGET


Funding of social, infrastructure sectors — Left favours deficit financing
MAKING out a case for deficit financing for increased expenditure on social and infrastructure sectors, the Left parties today urged the Finance Minister, Mr P. Chidambaram, to reintroduce the earlier structure of capital gains tax and to ... More

AP Budget to place focus on irrigation sector
THE State Government will focus on the irrigation sector in the upcoming Budget, with a likely allocation of Rs 8,486 crore, amounting to 15.47 per cent of the total budget. The allocation is nearly two-and-half times more than the Rs 3,505 ... More

CHEMICALS


ChemSpec India on Feb 23-24
CHEMSPEC India is being organised by DMG World Media (UK), publishers of Specialty Chemicals, in association with Chemical Weekly, during February 23-24 at the HITEX exhibition centre in Hyderabad. Over 200 companies from India, China, Europe ... More

ECONOMY


Domestic savings rise to 28.1% of GDP
THE country's gross domestic savings rose by two percentage points to 28.1 per cent of GDP at Rs 7,76,420 crore in 2003-04 compared to Rs 6,42,298 crore in the previous fiscal. "All sectors of the economy contributed to the rise in gross ... More

Fiscal deficit drops in April-Dec
THERE seems to be some improvement in the Centre's finances, with the fiscal deficit during April-December 2004, at Rs 90,239 crore, being lower than the Rs 92,435-crore figure for the corresponding three quarters of 2003-04. According to the ... More

Punjab Plan fixed at Rs 3,550 cr
THE Annual Plan of Punjab for 2005-06 has been fixed at Rs 3,550 crore inclusive of an additional Central assistance of Rs 50 crore for schemes and projects of priority to the State. The Planning Commission's Deputy Chairman, Dr Montek Singh ... More

Service delivery revamp in Kerala
THIRUVANANTHAPURAM: The State Government has devised a scheme for toning up the service delivery mechanism through offices most frequented by the public and ranking them based on the relative performance. An official spokesman said that ... More

EXCISE AND CUSTOMS


ITC excise case: India Inc urges Govt to review Ordinance
CRITICISING the Government's move of taking the ordinance route to recover Rs 450 crore from ITC, industry today urged the Government to review the Ordinance. Terming the event unfortunate, the CII President, Mr Sunil Kant Munjal, said that ... More

FERTILISERS


Subsidy: Urea units plan output cut
DOMESTIC urea manufacturers are contemplating reducing production. This is because of the Centre's apparent reluctance to take on additional burden in the form of fertiliser subsidy during the current financial year. In a communication to the ... More

FOREIGN TRADE


India, Serbia to sign bilateral trade pact
INDIA and Serbia and Montenegro are likely to sign an agreement on bilateral trade very soon, following the agreements on cultural co-operation and on scientific and technical co-operation. At a meeting between the visiting Serbian Minister of ... More

INFRASTRUCTURE


Rs 981-cr plan for Kochi infrastructure ready
THE State Government has drawn up infrastructure development schemes estimated to cost Rs 981 crore for the city of Kochi, which is about to witness the implementation of a host of mega projects in the hinterland. Announcing this in the State ... More

TAXATION


ICSI seeks inclusion of profession to present cases before tax tribunal
THE Institute of Company Secretaries of India (ICSI) has sought amendments to the National Tax Tribunal Bill 2004 to enable company secretary in practice to present cases before the National Tax Tribunal. Seeking inclusion of their profession ... More

CST phase-out hinges on operations of tax info exchange: Shome
THE Centre has hinted that the elimination of central sales tax (CST) under the proposed value added tax (VAT) regime hinged on the complete implementation of the taxation information exchange system that is being put in place to give a ... More

Punjab Cabinet nod for VAT Bill
PUNJAB is to promulgate an ordinance for the introduction of the State-level value added tax (VAT) system from April 1 this year, the State's Finance Minister, Mr Surinder Singla, said hereon Tuesday. Addressing the Assocham-PHDCCI national ... More

Trade bandh a success, says TN chamber
THE Tamil Nadu Chamber of Commerce and Industry has said the `All-India Trade Bandh' called today a resounding success. In a statement here, Mr S. Rethinavelu, Chamber President, has welcomed the announcement by the Union Finance Minister ... More

TEXTILES


Textile traders upset over revised drawback rates
THE changes announced by the Revenue Department effective January 19, in less than three weeks since the phase-out of the quota regime, in the All Industry Rates of Duty Drawback (AIR of DBK), designed to remit the duties suffered on inputs of ... More

Indian textile sector in running for foreign investment pie
WITH a number of big textile players winding up manufacturing operations in the US and Europe, India figures among a handful of countries vying for the rerouting of investments and idle capacities from these companies. According to the ... More

SSI


Tally to tap SMEs
NEW DELHI: Business accounting software manufacturer, Tally Solutions, plans to increase channel presence to over 50,000 hardware and software resellers who would be trained by the company to boost business with the small and medium ... More

EDUCATION


IIM-K `Backwaters' festival a big draw
MORE than 150 students from as many as 21 premier business schools across the country such as IIM-B, XLRI, NITIE, SP Jain and ICFAI converged to participate in Backwaters - the annual management festival organised by the Indian Institute of ... More

CARS


GM, Mahindra to rev up production targets
CAR manufacturers are reworking their production plans to make use of the opportunity provided by the phasing out of the multi-purpose Qualis. During 2004, Qualis sold a total of 36,700 units and with the MPV segment growing, major players such ... More

FOODS & FOOD PROCESSING


Kinfra processing park
THIRUVANANTHAPURAM: The Kerala Chief Minister, Mr Oommen Chandy, will lay the foundation stone for a food processing park being set up by Kerala Industrial Infrastructure Development Corporation (Kinfra) at Adoor in Pathanamthitta district ... More

READYMADE GARMENTS


AEPC in revamp mode — Offices to be made resource centres
THE Apparel Export Promotion Council (AEPC) is working on a project to make its offices across the country resource centres for the apparel industry. Fabric resource centres and information centres will be set up at the organisation's offices, ... More

BIO-TECH & GENETICS


`Focus on proteomics study'
"INDIA missed a great opportunity in partnering the human genome project and thereby lost the utility of tremendous data. I suggest that the Indian biomedical community take the initiative to become a working partner in the proteomics project of ... More

SMALL SAVINGS


EPFO to study investment in equities
FOUR days after the Finance Ministry's announcement that provident funds would be allowed to invest 5 per cent of their assets in equities, the Labour Minister, Mr K. Chandrasekhar Rao, today said that Employees' Provident Fund Organisation ... More

WTO


Next G-20 meet to be held in Delhi
INDIA would host the meeting of the G-20, a group of WTO member countries on agriculture, in New Delhi on March 18 following a consensus on this among members at the G-20 meeting held in Davos last Saturday. An official release issued here said ... More

EVENTS


Garment fair to be held in Bangalore
MAJOR apparel brands such as Madura, Zodiac and Weekender will lead the show when the first South India Garment Fair comes to town this month. The fair, to be held from February 13 to 15, will have over 105 exhibitors from the manufacturing, ... More

Environment fair in Kolkata from Feb 16 to 19
THE West Bengal Pollution Control Board (WBPCB), in collaboration with Bengal National Chamber of Commerce and Industry (BNCCI), will organise Environment Fair in Kolkata from February 16 to 19. The participants will include a large number of ... More

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