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Sunday, July 17, 2005

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INDUSTRY & ECONOMY

INVESTMENTS


Sharp drop in MF inflows — Retail investors prefer to party on their own
THE stock markets are soaring and bourses are ringing with cash, but it seems the mutual funds companies are being kept away from the party. Asset management companies, distributors and portfolio management services concede that with the ... More

COURTS/LEGAL ISSUES


`New inventions, technologies will drive law'
NEW economies, inventions and technologies will dictate a major shift in the trends of legislation globally, according to the Chief Justice of India, Mr Justice R.C. Lahoti. Already, national territories were being obliterated for ... More

ECONOMY


PM on US mission with heavy agenda
THE Prime Minister, Dr Manmohan Singh, left for Washington on Saturday on his first official visit to the US, with a heavy agenda to carry forward the strategic relationship between the two countries. Before his departure, the Prime Minister ... More

India largest recipient of World Bank aid
DEVELOPING countries drawing financial support from the World Bank obtained $22.3 billionfor 279 projects worldwide in the fiscal year ending June 30, 2005. This is an increase of $2.2 billion over the previous year. The Bank's aggregate ... More

32 pc of urban population resides in 43 towns
Of the 285 million people who lived in 5,161 urban settlements in 2001, 74 million, i.e. about one-quarter, lived in 27 `million plus towns'. Actually, the number of such towns is just 22 if one aggregates figures for adjoining townships such ... More

EXCISE AND CUSTOMS


Charges allocated for CBEC members
WORK allocation for various members in the Central Board of Excise and Customs (CBEC) has been completed. While Mr V.P. Singh has been given charge of Member (Central Excise), Ms Chitra Saha has become Member (Budget). Mr A.P. Sudhir would ... More

HOTELS


Govt to allot land for 40 five-star hotels in Delhi
THE Government has decided to expedite the process of allocating land for 40 new five-star hotels in Delhi in expectation of huge tourist influx during the 2010 Commonwealth Games. Stating this at a national conference on `Is Law Keeping Pace ... More

POWER


Bechtel agrees to help in putting Dabhol project on track
THE restart process of the Dabhol power project has received a shot in the arm with Bechtel Corporation — the project's original engineering procurement construction (EPC) contractor — agreeing to make a team available to assist NTPC, ... More

STEEL


Iron ore market to remain in balance till 2010
THE biggest bull market in iron ore history culminated in a 71.5 per cent rise in iron ore fines prices in 2005. Steel prices have recently started to fall and spot freight rates have collapsed. What is the iron ore outlook? Is it all over ... More

TAXATION


No service tax for exporting cargo by air
THE Government has exempted transport of export goods by an aircraft from the levy of service tax. The Finance Ministry on Friday issued a notification to this effect. The exporting community had been making a case for exempting the service of ... More

TEXTILES


Textile exports to US decline in May
INDIAN exports of textiles and apparels to the US in May were once again below the level achieved in the previous month. According to the latest figures released by the US Department of Commerce, imports from India in May added up to $ 416 ... More

TYRES


Truck, bus tyre ouput marginally up in May
NEW DELHI: Truck and bus tyre production registered a marginal increase in May at 9.81 lakh tyres compared to 9.75 lakh tyres in the previous month. Production stood at 8.92 lakh units in May 2004. The truck and bus tyre category ... More

KNITWEAR & HOSIERY


Ruling on dyeing units: Knitwear bodies to seek Govts' support
A joint meeting of hosiery manufacturers bodies and knit industry workers trade unions was held in Tirupur on Saturday to discuss Friday's Madras High Court order of closure of 660 dyeing and bleaching units in the effluent discharge issue. The ... More

SOCIAL WELFARE


New guidelines soon for MPLAD scheme
THE Union Government is set to finalise new guidelines for the Members of Parliament Local Area Development (MPLAD) scheme, which is now at advanced stage of discussions, according to the Union Minister of Statistics and Programme Implementation, ... More

INCOME TAX


FAQs on Fringe Benefit Tax
An employer listed in Section 115W is liable. The term employer is defined in Section 115W to mean a company, a firm, an AOP or BOI, whether incorporated or not but excluding a fund or institution eligible for exemption under Section 10(23C) or ... More

Is gain on sale of shares exempt if transaction tax has not been charged to the sale?
I SOLD some shares on September 15 and 16, 2004. I held these shares for more than a year. I was under the impression that the gain would be exempt. However, I have come to learn that there will be no exemption in respect of the gain since the ... More

EXPORTS & IMPORTS


Exim Bank to extend $400 m line of credit — Firms exporting to 2 CIS nations, Francophone countries likely to benefit
THE Export-Import Bank of India (Exim Bank) is putting together a $400-million line of credit facility for as many as eight countries in the French-speaking part of West Africa (Francophone countries such as Senegal) and two in the CIS region, ... More

Exporters fear Damocles' sword of tax recovery
DESPITE demonstrating a commendable performance in recent years (exports have been growing by 15-20 per cent a year) the workhorses that drive the country's export business — numerous trading houses and export houses including superstar and ... More

Ban on import of second hand capital goods of Indian origin
SECOND hand capital goods of Indian origin cannot henceforth be imported under the export promotion capital goods (EPCG) scheme, according to a policy circular issued by the Directorate General of Foreign Trade (DGFT). Under EPCG scheme, ... More

TOURISM


States drawing up plans to promote tourism
IN a move that could see the domestic tourism season being extended beyond October-April, various State governments are drawing up extensive plans to promote niche products and promote the States as tourism destinations, the Minister for Tourism, ... More


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Top Stories
Textile exports to US decline in May


Forex reserves fall $544 m

Individual, unit-linked policies steal show — Pvt life insurers' new biz up 129 pc

India largest recipient of World Bank aid

Iron ore market to remain in balance till 2010

Exim Bank to extend $400 m line of credit — Firms exporting to 2 CIS nations, Francophone countries likely to benefit

In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
More

Looking back
Jul. 10-Jul. 16
Lankan pepper imports taking toll on local trade

Ministry expects 25 pc growth in textile exports

Free trade pacts turning a tool to dump spices

Even chances for a `break monsoon'

PMO working on pharma policy

Oil installations sitting ducks for hurricanes

Five commodities emerge top performers in April '05 exports

India consumed Rs 41,000-cr junk food in 2003

Shrimp exports fall sharply post-tsunami

Car sales marginally down in June

FM radio: Govt fixes net worth norm

FDI in real estate bogged down by ambiguity in norms: FICCI survey

Garment exporters grapple with tax, DEPB problems

LNG transportation — Shipping Ministry to counter move to relax charter norms

Global uncertainties have increased, says RBI Governor

Petrol dealers drop strike plan

Rogue Bay system seen delaying `break monsoon'

Indian textile exporters plan to sell their brands abroad

Price stability, prime concern for RBI


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