The Hindu Business Line : Monday, March 14, 2005

Gujarat flags off bio-diesel buses
CLOSE on the heels of launching buses running on Compressed Natural Gas (CNG), Gujarat has became the first State in the country to start a commercial service of buses that run on bio-diesel. Four buses running on bio-diesel were flagged off at ... More

BUDGET

Sermons in stones, and good in everything?
ON the Budget site www.indiabudget.nic.in, an innocuous looking option reads `The Statement under Section 7 of the FRBM Act.' Click it and you'll read the explanation for "deviations in meeting the ... More

On fringe taxes and all that — Rollback is not a dirty word
THE excitement about the Finance Minister, Mr P. Chidambaram's Budget is still stoking the market, which is on a roll. But as the corporates and individuals read the fine-print, the fascination may wear off. ... More

ENGINEERING

Straddling two worlds
A new wave is in the making - outsourcing of engineering technology services. Engineering and IT companies are both vying to ride the opportunity. More

HOTELS

IDBI allots Rs 100 cr for hotel projects
IDBI has set aside Rs 100 crore for upgrading and modernisation of hospitality industry projects, said Mr R. Jayaraman Iyer, Executive Director, IDBI. He was speaking at an interactive session with members of the South India Hotels and ... More

PETROLEUM

India to go ahead with pact for gas supply from Iran — `Investment interest won't be affected'
PUTTING to rest apprehensions on the move to ink an agreement with Iran on the import of natural gas through a $ 4.5-billion pipeline transiting through Pakistan, the Ministry of Petroleum and Natural Gas has said that, "India's investment ... More

PHARMACEUTICALS

Rs 150-crore pharma R&D fund set to roll
WILL the Rs 150-crore research and development (R&D) fund for the pharmaceutical industry finally get off the blocks, a good five years after it was first announced in Budget 2000-01? "We now have the fund and it will be the complete Rs 150 ... More

PLASTICS

Plastics recycling units form organisation
THE Centre for Quality Management System (CQMS) of Jadavpur University is taking the lead role in bringing the Rs 10,000-crore plastics waste recycling industry in the unorganised sector under an umbrella association. The university is also ... More

TAXATION

`Delhi VAT law unclear of tax credit on capital goods'
THE Delhi Value-Added Tax (VAT) legislation was less than clear as to whether a lessor would be entitled to claim tax credit on the capital goods purchased by him and leased out to any user (lessee), according to Mr Satya Poddar, Partner, Ernst & More

Revoke tax on bank withdrawals, fringe benefits: TN Chamber
THE Tamil Nadu Chamber of Commerce and Industry has called for withdrawal of the Bank Cash Withdrawal Tax (BCWT) and the Fringe Benefits Tax (FBT) proposed in the Budget for 2005-06. In a letter to the Finance Minister, Mr P. Chidambaram, the ... More

TN trade, industry keeping fingers crossed over VAT
WHAT will happen? Or, as far as trade and industry in Tamil Nadu are concerned, "Will VAT happen?" As the April 1 deadline, agreed upon by the States at meetings of an empowered committee, nears for switching over to value-added tax (VAT), will ... More

`VAT may turn redundant soon'
THE present Value Added Tax (VAT) is not uniform either in law or in tax rates. Each State is also going its own way, observed Mr Nitin K. Parekh, Co-Chairman of Assocham's Expert Committee on Indirect Tax. Competitiveness of the industry is ... More

IDBI Bank in talks with AP, Karnataka for tax collection
IDBI Bank, which recently tied up with five State Governments for collection of sales tax and stamp duty, is currently in the final stage of negotiations with the Governments of Andhra Pradesh and Karnataka for similar alliance, said Mr D.C. ... More

`Service tax laws are more lenient'
DESCRIBING the Service Tax legislation, with 33 Sections and 9 Service Tax Rules, along with the related Cenvat Rules as most assessee-friendly, Mr Kamal Jyoti, Commissioner of Service Tax, West Bengal, said the department would not exercise the ... More

COAL

Coal merchants apprehensive of marketing through e-auction — Call to continue system of linkages
MARKETING of coal through the e-auction route may appear remunerative for state-owned coal companies but, in an era of coal shortage, there is the possibility that it will play havoc with the economics and sustainability of the existing ... More

EDUCATION

IFMR to sign pact with LSE
CHENNAI: The Institute of Financial Management and Research (IFMR) is signing a Memorandum of Understanding (MoU) with London School of Economics on Tuesday for research, according to Dr Nachiket Mor, IFMR Board member and Executive ... More

BIO-TECH & GENETICS

FICCI for fast track clearance for biotech clinical trials
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has outlined a multi-pronged agenda including strategic alliance between entrepreneurs and the industry and fast track clearance for clinical trials of biotech products, to ... More

HEALTHCARE PRODUCTS

FMCG, pharma cos betting on `wellness' products
The key, apparently, is to make one's presence felt in the growing "natural" products market, which is expected to grow exponentially over the next few years. More

IPR

Panel to study patent regime
THIRUVANANTHAPURAM: The State Government has set up a committee to examine how the new patent regime will affect Kerala's healthcare sector. The committee will determine the possible impact of the new patent system on the prices and ... More

RURAL DEVELOPMENT

Corporation Bank to focus on rural development
IMPLEMENTATION of rural development programmes and introduction of `innovative technology-driven' products are high on the agenda of Corporation Bank during the centenary year, according to the Chairman and Managing Director of the bank, Mr V.K. ... More

EVENTS

Agenda for the week

EXPORTS & IMPORTS

Dairy products export set to cross Rs 500 cr — GCMMF pegs export turnover at Rs 125 cr
DAIRY product exports from the country are poised to cross the Rs 500-crore mark for the first ever time during the current fiscal. A large chunk of this would come from edible casein, exports of which are alone expected to gross Rs 350 crore. ... More

TOURISM

A quiet sojourn
Foreign tourists enjoy sunset in the backwaters of Kochi. International tourist arrivals to Kerala recorded a growth of 16.69 per cent in 2004. Foreign tourists' stay in the State is for longer period and spend more money than their domestic ... More

Cruise tourism package by TPT
MADURAI: The Tuticorin Port Trust (TPT) has come out with a Tuticorin-based cruise tourism package. In association with the State Tourism Department, it has released a 20-minute video compact disc (VCD) highlighting the tourist spots ... More