The Hindu Business Line : Wednesday, March 02, 2005

Cabinet meet on IA fleet acquisition soon: Minister
THE Cabinet Committee on Economics Affairs (CCEA) is to meet this month to take a view on the 43-Airbus aircraft fleet acquisition plan of Indian Airlines, the Minister for Civil Aviation, Mr Praful Patel, said here on Tuesday. In an informal ... More

Lease extension period a great sign
The extension of period for lease of aircraft is a great sign. The Government has created the right environment for new players, especially for the first generation of entrepreneurs. We need all the support from the Government to make low-cost ... More

INFRASTRUCTURE

SPV to fund core sector projects
THE Union Government will set up a financial special purpose vehicle (SPV) to finance infrastructure projects in road, airport, port and tourism sectors. It has also decided to utilise a portion of the large foreign exchange resources to ... More

SHIPPING

Govt clarifies on `tax treatment' for ship sale
SHIPPING companies selling ships that were acquired through funds built up with benefits accorded under Section 33 AC of the Income-Tax Act will have to pay tax on the sale proceeds only on the amount utilised from the reserve account for buying ... More

Nothing much to cheer, says shipping industry
THE shipping industry had nothing much to cheer about in the Union Budget presented by the Finance Minister, Mr P. Chidambaram, on Monday. Reacting to the Budget, Mr A.R. Ramakrishnan, chief operating officer of Essar Shipping Ltd, said ... More

Mumbai port extends RFQ deadline for box terminal to March 11
"So far, some 24 companies have picked up the tender document and we are still getting enquiries. Hence we decided to extend the last date for sale of the document and submission of the RFQ document," a port official said. More

Chennai port exceeds throughput target
THE Chennai port has crossed the target of 39.17 million tonnes set by the Union Shipping Ministry for fiscal 2004-05 by handling 39.19 mt on February 27, a month ahead of schedule. The port expects to handle further 3.5 mt in March, and with ... More

Dredgers brought under tonnage, service tax net
THE Finance Minister, Mr P. Chidambaram, has included dredgers under the scope of the tonnage tax scheme that was introduced last year for the domestic shipping industry. The Government proposes to amend Chapter XII-G of the Income Tax Act to ... More

Customs duty cut on equipment for ICD, CFS
THE Government has cut customs duty on specified machinery/equipment for use in inland container depot (ICD)/container freight station (CFS) from 20 to 10 per cent. However, it has raised the excise duty on ships meant for breaking from 12 per ... More

RAILWAY BUDGET

Tata Steel to plead for status quo in rail freight
TATA Steel is to shortly appeal to the Railways not to enforce the minimum chargeable weight at the enhanced rates, as proposed in the Rail Budget for 2005-06. The proposed rates, if enforced, will substantially push up the rail transportation ... More

Ships in Ports

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