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Thursday, March 10, 2005

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INDUSTRY & ECONOMY

ANTI-DUMPING


Mid-term review of dumping duty on Borax Decahydrate
THE Designated Authority in the Commerce Ministry has initiated mid-term review of anti-dumping duty imposed on imports of Borax Decahydrate (BDH) originating in or exported from Turkey. In response to a petition filed by the producer ETI ... More

AUTOMOBILES


Asia to fuel auto demand, says KPMG survey
GLOBAL automotive executives have forecast an accelerated financial turnaround for the industry. They expect to reap higher profits this year as against the earlier forecast of 2006-07, according to an annual global survey of automotive leaders ... More

BUDGET


In the Budget's aftermath
Higher disposable incomes have made the marketer's job more difficult. There is constant pressure to keep up with consumers' appetite for more. More

ENVIRONMENT


YSR's assurance on industry status for effluent treatment
RESPONDING positively to the plea of the common effluent treatment plants (CETPs) for conferring industrial status for the sector, the Chief Minister, Dr Y.S. Rajasekhara Reddy, assured the industrialists managing CETPs that the State would take ... More

EXCISE AND CUSTOMS


Mysore Zone excise revenue collection up 31 pc
THE Mysore Zone of Central Excise collected Rs 3,367 crore revenue till the end of February as against Rs 2,562 crore during the corresponding period of the previous year, registering a growth of 31 per cent. The Belgaum, Mangalore and Mysore ... More

PSU


TELK to remain in public sector
THE Kerala Government has decided to retain Transformers and Electricals Kerala Ltd. (TELK) at Angamaly in Ernakulam district in the public sector. The Government had turned down an offer from Siemens to take a strategic stake in the company, ... More

PHARMACEUTICALS


`Formulate price mechanism for life-saving drugs'
With regard to the hike in prices of life-saving drugs by 4 to 6 per cent, the PHD Chamber of Commerce and Industry (PHDCCI) has asked the Government to undertake the process of formulating price mechanism for medicines. Till now, the country ... More

POWER


PFC board okays debt package for Nagarjuna Power's Mangalore project
THE board of the Power Finance Corporation has cleared the debt-financing package for the 1,015-MW power project near Mangalore, promoted by Nagarjuna Power Corporation Ltd (NPCL). Sources said that the Rs 4,400-crore project is now expected to ... More

TAXATION


States can exempt traders of turnover up to Rs 10 lakh from VAT
STATES have now been granted the leeway to exempt dealers with gross annual turnover of up to Rs 10 lakh from coming under the value added tax (VAT) net from April 1. This is double the turnover ceiling of Rs 5 lakh that was proposed in the ... More

`Mandatory invoices on advance payments can prevent misuse'
SERVICE tax payments received in advance, as announced in the Union Budget with regard to mandatory issue of invoices within 14 days, in the event of deals not materialising can on their own be adjusted by the assessee himself, and there is no ... More

Traders threaten 4-day strike over VAT
THE trading community on Wednesday threatened to go on a four-day nationwide bandh from March 29 if the States do not accede to their demand for putting off the implementation of the value-added tax (VAT) regime. "We will hold a 96-hour all ... More

CII session on VAT in Thiruvananthapuram
THIRUVANANTHAPURAM: The Confederation of Indian Industry (CII) is organising a session on the `implementation and working of Value Added Tax (VAT)' in the city on Friday. According to a CII press release, Mr V. Somasundaram, ... More

Seed out of VAT purview
HYDERABAD: The Andhra Pradesh Minister for Agriculture, Mr N. Raghuveera Reddy, has said that seed meant for cultivation of crops has been deleted from the list of items that come under the purview of value-added tax (VAT) to be ... More

TEXTILES


Cheap cotton price weaves pressure on VSF yarn producers
YARN producers using viscose staple fibre (VSF) say the cheap prices of cotton exert price pressure on their products, namely 100 per cent viscose yarn/blends as the softening raw cotton prices have forced many VSF spinners migrate to cotton yarn ... More

WATER


Water levels decline in Kerala
THIRUVANANTHAPURAM: Water levels at the three major reservoirs in the State - Idukki, Idamalayar and Kallada - have registered a fall when compared with recordings made a week ago. According to figures released by the Central ... More

Water from Jhanjavathi for Visakhapatnam
HYDERABAD: The State Government is exploring the possibility of utilising the floodwaters of Jhanjavathi for supplying drinking water to Visakhapatnam, Bobbili, Parvathipuram, Vizianagaram, Bhimli and Salur and also to meet 10 per cent of ... More

RADIO/TV


IndusInd Media deal with Swiss co comes under scanner
INDUSIND Media & Communications Ltd (IMCL)has come under the scanner of the regulatory authorities following the company's request to use share subscription money from Swiss investment company, Kudelski SA, for buying conditional access system .. More

I&B panel to draft Bill for broadcast content regulator
THE Information and Broadcasting Ministry has decided to set up a Core Group to draft a Bill for setting up of the Broadcasting Content Regulatory Authority and define its scope, objectives and functions. The Standing Committee on Information ... More

EDUCATION


A litmus test
Students appearing for SSLC exams prepare to enter the examination hall at the Government Girls High School in Ernakulam on Wednesday. For the first time in the country, the exams will be based on the grading system. This year, 5,85,727 students ... More

Kovai Medical Centre, US varsity offer new course
SAINT Joseph's University, US, has launched a Masters Programme in Health and Hospital Administration in association with Kovai Medical Centre Research and Educational Trust, a Coimbatore-based organisation focussed on education, training and ... More

CARS


Financiers upbeat on used car loans
Until last year, lending for `second-hand' car purchases was seen as risky. Question was whether a used-car buyer — presumably of a lower-income bracket — will repay his loan? But now there is empirical evidence to show that this ... More

REAL ESTATE & CONSTRUCTION


Realty industry sees rise in cost of flats
THE real estate industry has warned that the recent Union Budget announcement of imposing service tax on construction of residential complexes, coupled with the impact of increase in levies on steel could result in a 4-5 per cent hike in the ... More

Prospects for construction sector
IN 2002-03 the construction sector, with a total value of about Rs 70,000 crore, accounted for only about 5.3 per cent of GDP. This share has remained roughly constant over the past decade, with construction having grown only as fast as GDP. ... More

`Gradual land sales will bring greater value for mill owners'
MUMBAI'S mill owners would realise greater value from the gradual sale of redeveloped land rather than the outright sale of large tracts. "There can be no development without Government control," said Mr Robert Adam, part of a team of British ... More

HANDLOOM


TDP, BJP stage walkout over weavers' issue
THE opposition Telugu Desam and Bharatiya Janata Party members staged a walkout from the Andhra Pradesh Legislative Assembly on Wednesday in protest against what they termed as the indifferent attitude of the State Government towards the plight ... More

HOUSING FINANCE


`Get products with chilli checked for banned dye before exports'
THE Spices Board has advised all the exporters registered with it to get the samples of food products such as pickles produced by them for export checked for the presence of Sudan 1. It has also said shipments could be done only after ... More

SCIENCE & TECHNOLOGY


`ISRO exploring low-cost access to space'
THE Indian Space Research Organisation (ISRO) is exploring methods of gaining `low-cost access' to space, and improving India's competitiveness in the area, according to its Chairman, Mr G. Madhavan Nair. To achieve this, ISRO has to bring down ... More

National award for Kerala scientist
THIRUVANANTHAPURAM: Ms K. Seethalakshmi, a scientist from the State has been selected for the National Award for Women's Development through Application of Science and Technology for the year 2004. Ms Seethalakshmi, a scientist with the ... More

NEWSPAPERS & PUBLISHING


ABC to interact with media planners on March 16
EVER wondered why some ads are published only in one publication and not in others? The answer is that it is a particular group of professionals in the advertising fraternity that makes a call on which ad goes where and when. Their decision on ... More

IPR


Kerala CM calls for stringent adherence to IPR
`The frequent incidence of bio piracy only goes to reveal the hypocritic attitude of Western scientists towards indigenous knowledge.' More

RURAL DEVELOPMENT


Interest subsidy for SHGs in AP
HYDERABAD: As many as 2,24,635 self help groups (SHGs) in Andhra Pradesh are eligible for interest subsidy up to an extent of 6 per cent on bank loans obtained by them under an incentive scheme announced by the State Government, according ... More

EXPORTS & IMPORTS


Soya oil tariff cut leads to revenue loss
THE recent change in degummed soyabean oil tariff value has created an awkward situation for the Finance Ministry as the move is widely seen to be out of tune with market realities. Worse, it is suspected to have been made with the intention of ... More

Factor in education cess, says Finance Ministry
EXPORTERS opting for brand rates and special brand rates of duty drawback have some good news coming their way. The Finance Ministry has now said that the 2 per cent education cess imposed in 2004 budget should be factored into the computation of ... More

`Tuna fishing will boost marine product exports'
THE country's marine products exports are stagnating at around Rs 6,000 crore per annum for quite a few years and tuna fishing holds the key to boosting the exports and touching the Rs 10,000-crore mark. However, a concerted effort by all ... More

Best exporter award for BEL, Bal Pharma
BHARAT Earth Movers Ltd and Bal Pharma Ltd are among the companies that have received the Best Exporter award of the Karnataka Government. The BEML CMD, Mr V.R.S. Natarajan, received the State-level awards for the years 2000-01, 2001-02, ... More

TOURISM


Demand for new tourist circuit in Kerala
THIRUVANANTHAPURAM: The Capital City Development Forum has urged the Government to set up a new tourist hub linking Poovar, Kovalam, Sanghumukham, East Fort, Veli, Akkulam, Kadhinamkulam, Papanasam, Thenmala, Ponmudi, Neyyar dam, ... More


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Sundaram-Clayton sets up unit to develop software for WABCO


Insurance sector faces high rate of attrition

`Get products with chilli checked for banned dye before exports'

AMCs struggling to prevent funds erosion

Commodity prices booming on speculative interests

Asia to fuel auto demand, says KPMG survey

Financiers upbeat on used car loans

In Focus

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Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Feb. 27-Mar. 5
UP, Bihar get 30 pc of tax devolutions

Gold retail investment demand remains strong

Cotton yarn exports begin to dip as made-ups make headway

Drug cos hope to cash in on anti-tobacco drives

Sharp fall in LPG demand upsets refiners' plans

Real estate sector cries foul

Centre's market borrowings may rise 68 pc next fiscal

Corporate income-tax — A mix of lower tax shelters & rates

A recast of personal taxation

Law soon to allow banks to issue pref shares

Tax savings: Choices galore

Exporters not enthused by Budget plans

Experts seek rollback of cash withdrawal tax

Fringe tax to bite deeper into smaller IT cos

`In the right direction for hardware sector'

Partnership firms will have to file I-T returns

Coal stock position `super critical' at 8 thermal stations

Service tax exemption on forex payments to go

The logic of tax on fringe benefits, savings

TN zone export units' turnover to cross Rs 5,000 cr

TN trade, industry bodies want quick shift to VAT

Fringe benefit still gives drug industry the chill

Software exports from TN to touch Rs 10,000 cr


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