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Wednesday, February 16, 2005

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INDUSTRY & ECONOMY

PENSION PLANS


ADB panel to submit pension scheme report to Govt in May
The survey has covered 40,800 individuals employed in the unorganised sector and has separately considered the situations in urban and rural areas. More

ECONOMY


Arunachal Pradesh Plan fixed at Rs 950 cr
THE annual plan of Arunachal Pradesh for next fiscal has been fixed at Rs 950 crore, inclusive of additional Central assistance of Rs 30 crore, for projects to tackle specific problems plaguing the State. This was decided at a meeting between ... More

EXCISE AND CUSTOMS


Govt hikes import duty on palm oils; base prices cut
IN a major pre-Budget tariff restructuring exercise, the Government today hiked the basic Customs duty on the entire palm oil complex, alongside a reduction in tariff values or base prices for computation of duty liability by importers. The ... More

Warehousing facility for petro products only at port of import
OIL companies cannot transfer petroleum products from the warehouse at the port of import to inland warehouses without payment of customs duty. The Finance Ministry has now decided that the warehousing facility for petroleum products would be ... More

HEALTH


A booster dose
Zakira Begum, a newly-trained health worker from Rongijipet village of Medak district, looks delighted after receiving her medical kit from the Rural Education and Agriculture Development Society (READS) at a function at Shivampet near Hyderabad ... More

PETROLEUM


GAIL, Infosys in pact
GAIL (India) Ltd and Infosys Technologies announced on Tuesday that they have entered into a memorandum of understanding to jointly develop technology solutions for the retail gas business. The MoU aims at the development and commercialisation ... More

Aiyar to lead delegation to Kazakhstan
KAZAKHSTAN is the next stop for the Union Petroleum Minister, Mr Mani Shankar Aiyar, in his vigorous pursuit of oil diplomacy. Mr Aiyar is leading the Indian delegation for the fifth Indo-Kazakh Joint Commission meeting to be held in ... More

GAIL inks pact with Bangladesh firm
STATE-RUN gas firm GAIL (India) Ltd on Tuesday inked an agreement with Spectra International Ltd of Bangladesh to identify possibilities of cooperation in compressed natural gas (CNG) infrastructure development projects and gas retailing in ... More

POWER


Left firm on review of Electricity Act
THE Left parties have reiterated their demand for a review of provisions of the Electricity Act 2003. In a letter to the Power Minister, Mr P.M. Sayeed, the CPI (M) Member of Parliament, Mr Dipankar Mukherjee, has reiterated the Left parties' ... More

ONGC to pick up stake in SPV for Tripura power project
ONGC will formally kick-off its plan to set up a 700-MW gas-based power station in Tripura on February 17 by picking up a 26 per cent stake in a special purpose vehicle (SPV). The SPV will later be incorporated as ONGC Tripura Power Ltd (OTPL) ... More

Wartsila inks power sale pact with PTC
WARTSILA India Ltd, a subsidiary of Wartsila Corporation, and PTC India Ltd (formerly Power Trading Corporation of India) announced the signing of a MoU for the sale of surplus power. This agreement facilitates the utilisation of excess power ... More

TAXATION


VAT confusion sends rubber prices tumbling
THE uncertainty prevailing in Kerala over the application of value added tax (VAT) on natural rubber from April 1 this year has started to drive the prices down. However, experts are of the view that prices may not fall beyond a certain extent ... More

TEXTILES


Pochampally Ikat gets GI protection
THE famed Ikat style, whose creations include the attractive `Tie and Dye' and silk woven sarees from Pochampally village, about 50 km from Hyderabad, has now been granted the Geographical Indication (GI) status, giving it both protection and ... More

Textile deals at Tirupur-Korea video interface
AN interface between Tirupur-based textile/garment industries and the Korean companies specialising in textile fibre/textile machinery through video conference here has led to a business contract proposals for $11.550 million on the opening day ... More

Texprocil to study global markets
THE Cotton Textiles Export Promotion Council (Texprocil) is to collect detailed data on countries that are potential markets for India's textiles. The Council, which recently carried out market intelligence studies in 11 strategically ... More

`Sops only for performing textile units'
SOPS to the needy textile industries will be performance-based, according to the new Textile Secretary, Mr R. Poornalingam.. In his special address at a meeting of the Texprocil here on Tuesday, he said the crux of the Government's advice to ... More

CARS


Car sales rise 8% in Jan
PASSENGER car sales saw a modest single digit growth in the domestic market in January 2005 at 8.17 per cent even as motorcycles continued their strong run, witnessing a 22.8 per cent jump helped by higher demand for Hero Honda and Bajaj Auto ... More

GEMS & JEWELLERY


`Steep fall in child labour in gem, jewellery industry'
THE level of child labour in the diamond processing industry in India has fallen drastically between 1998 and 2003, according to an A.F. Ferguson report. The report titled `Prevalence of child labour in Indian gem & jewellery industry', said ... More

REAL ESTATE & CONSTRUCTION


`Govt considering FDI in construction sector'
THE Government is examining the question of permitting Foreign Direct Investment (FDI) in the construction sector and is holding wide-ranging consultations with various stakeholders. "We are reviewing what is the best for FDI in the ... More

ENTREPRENEURSHIP


YSR hints at sops for women in industrial policy
THE upcoming industrial policy in Andhra Pradesh would have some attractive incentives for women entrepreneurs. The Chief Minister, Dr Y.S. Rajsekhara Reddy, said the policy would be announced on April 1. Addressing a gathering of ALEAP ... More

EXPORTS & IMPORTS


Edible oils import up 9 pc
TOTAL import of edible oils during the first quarter of the oil season 2004-05 (November 2004 to January 2005) are up 9 per cent at 9,46,302 tonnes, compared to 8,69,620 tonnes during the same period last year, according to data complied by the ... More

NATURAL CALAMITIES


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    Top Stories
    Effect of palm oil duty hike unlikely to be harsh


    `Govt considering FDI in construction sector'

    Budget: Flying and sitting ducks

    Fresh Left pressure on FDI cap hike

    Car sales rise 8% in Jan

    Sugar stocks sweeter on spiralling prices

    Rlys tops revenue target for Apr-Jan at Rs 37,827 cr

    In Focus

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    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
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    Looking back
    Feb. 6-Feb. 12
    `Give priority to drug affordability'

    Marketing can be done without a patent: Madras HC

    Imported edible oils — Revenue considerations behind move not to slash tariff values?

    Hundred movies in one DVD?

    Hike in R&D spends eats into pharma cos' profits

    NCB cautions pharma cos on distributors with dubious connections

    VAT panel seeks removal of CST waiver on inter-State purchases

    Auto majors see rise in Q3 input costs

    Southern mills way ahead in raw sugar imports

    Govt hopeful of meeting export targets

    Policy on FDI in retail, realty soon: Kamal Nath

    Seafood exports may dip 10 pc

    Market for savings second only to food

    Chidambaram's 5-point agenda for India to drive global economy

    Industrial output up 7.9 pc in Dec


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