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Wednesday, March 16, 2005

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INDUSTRY & ECONOMY

PENSION PLANS


EPFO panel opposes investment in equities
THE Finance and Investment Committee of the Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation has taken a view against investment of EPFO funds in equities. The issue had come up before the committee as a fallout of ... More

ECONOMY


Supplementary demands for grants introduced
THE second and final batch of supplementary demands for grants for the current fiscal involving a net cash outgo amounting to Rs 8,072.74 crore was introduced in the Lok Sabha on Tuesday by the Minister of State for Finance, Mr S.S. ... More

EXCISE AND CUSTOMS


Industry drawback panel broad-based
THE Finance Ministry has broad-based the committee that had been set up to recommend the All Industry Rates of Duty Drawback for 2005-06. The reconstituted committee has been asked to submit its report to the Revenue Secretary, Mr K.M. ... More

PETROLEUM


Oil from Sakhalin field this year: Aiyar
THE Minister of Petroleum and Natural Gas, Mr Mani Shankar Aiyar, informed the Rajya Sabha today that production of oil and gas from Sakhalin-I is expected to commence from 2005-06 and full production is expected from the last quarter of ... More

PHARMACEUTICALS


Mexico wooing Indian drug majors
MEXICO is trying to woo Indian pharmaceutical companies. The Mexican pharma mission, comprising 11-members is visiting India and will be meeting with officials of several drug majors such as Ranbaxy Laboratories, Cipla Ltd, Biocon and Wockhardt, ... More

POWER


`No power cut this year'
THERE is no need for power cuts in the State this year even though the consumption is more than double the generation in the State, according to the Minister for Power, Mr Aryadan Muhammed. Replying to questions in the State Assembly on ... More

TAXATION


Export cess hits turmeric trade in Guntur
THE transactions at the turmeric market yard at Duggirala in Guntur district - one of the major ones in the State - have been hit badly with the imposition of four per cent export cess by the State Government. The commercial tax ... More

`ST to continue in States that do not opt for VAT'
THE Finance Minister, Mr P. Chidambaram, said on Tuesday that the existing system of sales tax would continue in those States that do not implement value added tax from April 1. ``As decided by the Empowered Committee of State Finance ... More

TN Chamber wants panel on VAT
THE Erode District Chamber of Commerce and Industry (EDCCI) has suggested the constitution of a committee under the leadership of the Tamil Nadu Finance Minister, to hold wide-ranging discussions with trade and industry in the State to arrive at ... More

TEXTILES


Airlines introduce flash rates for garment exports
AIRLINES have introduced express or flash rates to cash in on the surge in garment exports and the scarcity of cargo space. According to sources, some airlines are accepting cargo only on express rates. The surge in garment export volumes is ... More

AEPC calls for restoration of value-based duty drawback rates
GARMENT exporters, who met here under the aegis of Apparel Export Promotion Council (AEPC), have demanded restoration of value-based duty drawback rates instead of the weight-based rates introduced from January 19 last. Considering the ... More

RADIO/TV


A sporting chance for Dream Job
A CHANGE in one's career is always welcome, especially if it catapults you into the international world of sports presenting. Twenty-seven-year-old Anand Narasimhan has dreamed about being a sports commentator all his life, and has now finally ... More

EDUCATION


IAT to redesign courses, projects for Defence personnel
THE Institute of Armament Technology (IAT), Pune, is restructuring its academic courses and research projects to meet the future challenges in the Defence sector. From the emerging technology-driven warfare to ensuring that India's Defence ... More

LSE, IFMR enter into agreement for `knowledge-sharing'
THE London School of Economics (LSE) and the Institute for Financial Management and Research (IFMR) have signed a memorandum of understanding (MoU) for research and training in financial markets for policy advocacy. The MoU will set up a ... More

Exam reforms in AP
THE Andhra Pradesh Minister for Higher Education, Mr P. Venkateswar Rao, told the Legislative Assembly on Tuesday that the State Government would cancel the affiliation of junior colleges that advertise the ranks of students. Replying to a ... More

Kerala varsity confers Ph D for thesis on career growth
THIRUVANANTHAPURAM: The University of Kerala has conferred a Ph D degree on Mr K. Suresh Kumar for his thesis on "Career growth and success of managerial professionals." The thesis was prepared under the supervision of Dr R. Gangadharan ... More

CARS


Car sales down in Feb, but Tatas buck the trend
EXPECTATIONS of an excise duty cut on cars in the Union Budget resulted in a 4.2 per cent drop in passenger car sales during February 2005. Customers postponed their purchases in the month expecting a reduction in prices following the duty ... More

Cars to cost more from April
PURCHASING a new car may make you dig deeper into your pocket from April onwards with several carmakers, including Maruti Udyog, Hyundai Motors and General Motors, planning to hike prices. Car manufacturers are citing increased costs of steel as ... More

INDUSTRY ASSOCIATIONS


Nasscom writes to Ministry on fringe benefits tax issue
EXPRESSING concern over the recent Budget announcement on taxation of fringe benefits, software association Nasscom has written to the Finance Ministry saying genuine business expenditure should not be covered under the tax net. "We strongly ... More

BIO-TECH & GENETICS


Kerala official invited to bioethics meet
THIRUVANANTHAPURAM: Dr V. Mohanan Nair, Principal, Kerala State Institute of Health and Family Welfare, and Director of the Collaborating Training Centre, National Institute of Health and Family Welfare , has been invited for the 6th ... More

IPR


Oxfam writes to PM on Patents Bill
OXFAM International, a non-Governmental organisation (NGO), has urged the Prime Minister, Dr Manmohan Singh, to ensure that the Patent (Amendment) Act, 2004 permits the fullest possible access to affordable medicines. Mr Jeremy Hobbs, Executive ... More

RURAL DEVELOPMENT


  • Central aid for development

    INDUSTRIAL POLICY


    Maharashtra proposes changes in Factory Act
    THE Maharashtra Government proposes to amend the Factory Act to remove certain provisions that have been hampering investment in the State. The Chief Minister, Mr Vilasrao Deshmukh, said here on Tuesday that a committee has already been set ... More

    TRADE & LABOUR UNIONS


    BSNL executives' forum launches agitation to press its demands
    THE United Forum for BSNL Executives, comprising All India BSNL Executives Association (AIBSNLEA) and Sanchar Nigam Executives' Association (SNEA), on Tuesday launched an indefinite non co-operation against non-implementation of the "already ... More

    EVENTS


    Social cause
    The Narmada Bachao Andolan leader, Ms Medha Patkar, addressing the dam victims and Mumbai slum dwellers at Shastri Bhawan in the Capital on Tuesday demanding intervention by the Social Justice Minister, Ms Meira Kumar, into their problems. ... More

    CONSUMERISM


    Stricter enforcement of consumer laws urged
    STRICTER enforcement of consumer protection laws is essential, as the decrees passed by the various consumer fora in the State and the country are not being enforced properly and promptly, according to several consumer activists and ... More

  • Consumer Rights Day observed

    EXPORTS & IMPORTS


    Kerala Govt smells a rat in pepper import from Lanka
    THE duty-free import of pepper from Sri Lanka has hit Kerala badly, the Agriculture Minister, Mrs K.R. Gouri Amma, told the State Assembly on Tuesday. She said the State Government had urged the Centre to insist on certification of origin for ... More

    TOURISM


    Australia expects 1-lakh Indian tourists by 2008
    AUSTRALIA hopes to attract one lakh Indian tourists annually by 2008, the Regional Manager, South and Southeast Asia, Tourism Australia, Ms Maggie White, said here today. "Australia welcomed 55,000 Indians last year, which was an increase of ... More


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    Top Stories
    Fringe benefit tax may hit group superannuation schemes


    Tea production down 4 pc in 2004; imports rise over 200 pc

    Oil from Sakhalin field this year: Aiyar

    `ST to continue in States that do not opt for VAT'

    Cars to cost more from April

    In Focus

    BHEL Disinvestment
    The Yuan Revaluation
    Dabhol power regenerated
    Tracking the rains
    Sethusamudram Canal Project
    India Inc's overseas acquisition
    More

    In Depth

    Gender Justice
    Simple Economics
    Tax Talk
    More

    Looking back
    Mar. 6-Mar. 12
    `Growth in services will drive manufacturing sector'

    Chidambaram says no to withdrawal of service tax on forex payments

    NPCIL's first 540 MW generation unit ready

    Budget 2005-06: Stage-managed humaneness

    Ladies garments top apparel exports

    Refiners not ready to supply BS-II diesel from April 1 — Auto industry worried that new vehicle norms deadline may change

    Asia to fuel auto demand, says KPMG survey

    Financiers upbeat on used car loans

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

    PFC, French co, UN eyeing rural electrification pie

    Higher VAT exemption cap may mean lower Central compensation

    Newsprint prices to go up by Rs 1,000 a tonne

    Retailers propose real estate mutual fund

    Notional disallowance a better bet?


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