The Hindu Business Line : Sunday, July 11, 2004

BUDGET
Transaction tax - who all will be hurt?
WHO will bear the brunt of the transaction tax in the Indian debt markets in case it gets imposed? Market players, brokers, corporates and the Government itself, say experts. The ripples spread far and wide; this is how it will work. The ... More

With lowering of short-term capital gains tax — Illiquid stocks in for price manipulation?
Last year, when there was sudden spurt in large number of illiquid stocks, stock exchanges in consultation with SEBI had to move several scrips to trade-to-trade segment to avoid manipulation. More

Tax on deposits a big blow, say NRIs
THE decision to tax interest on NRE deposits announced in the Union Budget has shocked NRIs in the UAE, with leaders of the expatriate community warning that it could lead to a huge outflow of NRI funds from India and curtail fresh investments in ... More

Be ready, banks may charge you more
NEXT time you want to make a demand draft, get a bank guarantee or even just apply for a new cheque-book, be prepared to dig deeper into your pockets to pay a heftier commission to your friendly neighbourhood bank! And while you are at it, better ... More

FOREIGN TRADE
Singapore-India Partnership Foundation launched
The visiting Singapore Prime Minister, Mr Goh Chok Tong launched the Singapore-India Partnership Foundation on Saturday to strengthen relations between the two countries. The foundation has been established in a tie-up with the Confederation ... More

POWER
11 power projects to lose naphtha duty exemption from next year
FROM the middle of next year, 11 power generation projects aggregating 3,700 MW will no longer enjoy duty-free import of naphtha to fuel their plants, according to the recently presented Union Budget. Naphtha attracts a duty of 10 per cent ... More

STEEL
A good Budget, but not for us, say steel majors — 'Investments will come down, end-user will pay more'
THE reduction in customs duty on non-alloy steel from 15 per cent to 10 per cent and the increase in the excise duty on steel from 8 per cent to 12 per cent as proposed by the Union Finance Minister, Mr P. Chidambaram, in his budget proposals for ... More

AUTOMOBILE COMPONENTS
Auto components industry happy
THE Auto Component Manufacturers' Association of India (ACMA) has expressed happiness that all of its recommendations to the Government have been accepted. The 150 per cent deduction of expenditure on in-house R&D "is a long-standing demand of . More

TELEVISION SETS
Excise duty hike may hit black & white TV market
HAS the Finance Minister, Mr P. Chidambaram, further distanced the black & white television (B&W TV) from the reach of rural consumers by increasing excise duty on it? According to industry analysts, "The increase in excise duty on B&W T More

REAL ESTATE & CONSTRUCTION
Eco clearance mandatory for large constructions
TO check the adverse impact on environment, the Ministry of Environment and Forests has mandated an environmental clearance for specified large constructions. Such constructions include new or upcoming industrial townships, settlement ... More

PAPER, BOARD & NEWSPRINT
Paper industry hails Budget
THE Union Budget provides significant impetus for growth in agriculture, infrastructure development and health care according to Mr N. Gopalaratnam, President, Indian Paper Manufacturers Association. The Indian paper industry, as a core sector, ... More

BIO-TECH & GENETICS
Bangalore Bio ropes in Ma Foi for career guidance
BANGALORE Bio, Asia's premier biotechnology conference opening here on Sunday, has enlisted the cooperation of human resources service provider Ma Foi, to give career guidance to students on opportunities in the biotechnology industry. ... More

FOREIGN DIRECT INVESTMENT
`FDI — vital issue ignored'
MR S. Gurumurthy, convenor of the Swadesh Jagaran Manch (SJM), has said that the Budget "is long in words and short on numbers", and "a classic illustration of how over the years elegant words have gradually but effectively become substitutes for ... More

Singapore hails Budget move on FDI
INDIA'S latest budgetary move to raise the cap on foreign direct investments in the sectors of telecommunications, civil aviation and insurance has been welcomed in some industry circles in Singapore. At another level, a banking fund manager, ... More

TRADE & LABOUR UNIONS
TUs to press for 9.5 pc PF rate — Inflation indexed formula to be proposed
THE labour leaders, who are members of the Central Board of Trustees (CBT) of the Employees' Provident Fund Organisation (EPFO), are getting ready to press for at least 9.5 per cent rate of interest on PF deposits for the current fiscal in its ... More

INTERVIEW
Indo-Thailand trade pact to go live from September
THE Free Trade Agreement (FTA) between India and Thailand will go live from September 1, 2004, Thailand's Minister for Science & Technology, Mr Korn Thapparansi, has said. Eighty-two items are there in the `early harvest' scheme. From ... More

INCOME TAX
Falsification of accounts — New I-T clause can bring tax experts into net
IF YOU are preparing to be a tax consultant or a practicing chartered accountant guiding a new assessee on tax compliance and filing of income tax returns, you better be forewarned of a minefield of a clause in the new Finance Act. A proposed ... More

VENTURE CAPITAL
World Bank aid for IndiaCo
INDIACO, a private investment firm that supports technology based ventures in the software, biotech, nanotech and energy sectors, has received final approval for funding by the World Bank, under the latter' InfoDev Programme - part of a ... More