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Friday, April 01, 2005

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INDUSTRY & ECONOMY

AUTOMOBILES


Jayalalithaa writes to PM for auto testing facility in Chennai
THE Tamil Nadu Government has sought the Prime Minister, Dr Manmohan Singh's support to ensure that an automobile testing facility is set up in Chennai. In a letter to him, the Chief Minister, Ms Jayalalithaa, has said that Chennai should be ... More

ECONOMY


GDP slows to 6.2% in Q3 on lower farm output
THE Indian economy has registered a GDP growth of 6.2 per cent for the third quarter of 2004-05, a considerable slackening over the 11 per cent growth during the same period in the previous fiscal. The slowdown comes on the back of a dip in ... More

External debt rises to $120.9 b
THE country's external debt rose by $7.3 billion to $120.9 billion at the end of December 2004, against $113.6 billion on September 30. The depreciation of the US dollar against major currencies accounted for a major portion of the increase. "A ... More

Current account deficit up at $5.47 b in Oct-Dec '04
THE country's current account has slipped into further deficit at $5.47 billion for the third quarter — October-December 2004 — from a deficit of $4 billion in the second quarter, as per the latest Balance of Payments (BoP) figures ... More

Coimbatore tops in annual credit Plan outlay
COIMBATORE district has yet again topped in annual credit Plan (ACP) outlay. The outlay for 2005-06 at Rs 4,237.78 crore is 20.07 per cent higher than the current year's outlay of Rs 3,529.24 crore. A sectoral analysis of the Plan outlay ... More

ENVIRONMENT


Madurai Corpn restrained against dumping garbage
THE Madras High Court has restrained Madurai Corporation from dumping and burning hazardous garbage in open land adjacent to a school and a star hotel as there were reports of gross violation of pollution control laws. Responding to a public ... More

FOREIGN TRADE


Free trade pact with Mauritius being readied
A joint study group had recommended the agreement and the Prime Minister, Dr Manmohan Singh, and his counterpart, Mr Paul Berenger, on Thursday accepted the suggestion and set up another team to negotiate the terms. In his address to the ... More

HEALTH


Session for blood bank staff in Thiruvananthapuram
THIRUVANANTHAPURAM: Surgicals major Terumo Penpol, the Kerala State AIDS Control Society and the Indian Medical Association (Ernakulam) Blood Bank are planning to organise a one-day programme on voluntary donations for blood bank ... More

Tata gift for cancer research institute in AP
HYDERABAD: The Jamsetji Tata Trust has donated Rs 7.5 crore to the Indo-American Cancer Institute and Research Centre for establishing a Rs 2.5-crore bone marrow transplant unit and a Rs 3.7-crore linear accelerator. Mr R. K. Krishna ... More

INFRASTRUCTURE


IVRCL bags AP orders
HYDERABAD: IVRCL Infrastructures & Projects Ltd has bagged new orders valued at Rs 570.10 crore. These orders included irrigation works of Rs 451 crore from the Andhra Pradesh Government to be executed by IVRCL, Sew & Prasad consortium, a ... More

PSU


CAG report cites mismanagement of PSUs in AP
THE report of the Comptroller and Auditor General (CAG) of India on the audit of Government companies and statutory corporations in the State for 2003-04 has highlighted management deficiencies having financial implications. The ... More

PETROLEUM


Shareholders angry over BPCL-Kochi Refineries merger swap ratio
A SECTION of minority shareholders of Kochi Refineries Ltd, led by the Kochi Refineries Investors' Forum, is aggrieved over the declared swap ratio of 9:4 for the company's proposed merger with Bharat Petroleum Corporation Ltd. The swap ratio ... More

Revamped plan for PDS kerosene mooted
USING his dual portfolio of the Ministry of Petroleum and Natural Gas and that of Panchayati Raj, Mr Mani Shankar Aiyar has worked out a revamped scheme to strengthen the distribution and marketing of kerosene under the public distribution system ... More

ISO certification for ONGC's rig in AP
HYDERABAD: Oil and Natural Gas Corporation's two drilling rigs of Rajahmundry Asset have been awarded ISO-9001:2000 certification for implementation and maintaining of Quality Management System as per ISO standards. The pre-assessment ... More

POWER


Captive power starts flowing into grid — PTC begins with Jindal unit
SURPLUS power from India Inc's captive units is beginning to flow into the grid. PTC India Ltd (PTC) has made a start with the evacuation of surplus electricity from Jindal Steel & Power Ltd's 205 MW captive unit in Chhattisgarh. With the ... More

NTPC finding it tough to get more supplies from Coal India
NATIONAL Thermal Power Corporation (NTPC) seems to be facing a tough time sourcing coal from the subsidiaries of Coal India Ltd (CIL). Subsidiaries of CIL have pleaded their inability to supply beyond the quantity specified in the fuel ... More

NTPC plans to generate 164 b units in 2005-06
THE National Thermal Power Corporation said it plans to generate 164 billion units of electricity during 2005-06. An MoU to this effect was signed by the NTPC Chairman and Managing Director, Mr C.P. Jain with the Power Ministry officials here ... More

KSK financial closure for Chhattisgarh project
NEW DELHI: KSK Energy Ventures Ltd, a project development company, has announced the financial closure of a Chhattisgarh-based 43 MW power project. The Rs 160-crore project is being set up for Lafarge Cements. ... More

STEEL


SAIL's coal purchases under lens
CERTAIN spot purchases of coal in the US market, by Steel Authority of India Ltd (SAIL), have led to the Steel Ministry scrutinising the role of Mr S.K. Roongta, the company's Director (Commercial), in the transaction. Since SAIL is a Schedule ... More

RINL, Ministry sign MoU
VISAKHAPATNAM: Visakhapatnam steel plant (Rashtriya Ispat Nigam Ltd) and the Union Ministry of Steel signed a memorandum of understanding recently in New Delhi to produce four million tonnes of hot metal and 3.125 million tonnes of ... More

TAXATION


Business community prepared to accept VAT: Assocham
THE Association of Chambers of Commerce and Industry of India (Assocham) on Thursday said business communities in Maharashtra, West Bengal and the southern States were adequately prepared for the value-added tax (VAT) regime beginning April 1. ... More

Kerala CM to meet striking traders today
THE Chief Minister, Mr Oommen Chandy, is meeting trade representatives here today to find a way out of the three-day, State-wide strike, which has been enforced by traders to protest against the introduction of value-added tax (VAT). Mr ... More

VAT next? TN businessmen keep fingers crossed
IT is the suspense and uncertainty that is the hard part. Is Value Added Tax (VAT) going to happen, ask traders in Tamil Nadu as a large number of States prepare to switch over to the new tax regime from tomorrow. In Tamil Nadu, manufacturers ... More

YSR's assurance on VAT regime
AS value added tax (VAT) comes into force on Friday, putting the 50-year-old AP General Sales Tax behind, the Chief Minister, Dr Y.S. Rajasekhara Reddy, has assured the traders and industrialists that the new tax system would not cause them any ... More

Corporate India wants FBT proposal scrapped
AFTER making presentations on various aspects of the proposed Fringe Benefit Tax (FBT), India Inc now wants this proposal scrapped. The Finance Ministry is reviewing the proposal and has constituted an informal committee headed by Mr ... More

Tally Solutions' campaign
KOCHI: Tally Solutions is conducting a nationwide road show branded `Tally Shop Campaign' in an effort to enable easy access to VAT compliance and implementation solutions. Tally Solutions will be tying up with various computer ... More

TEXTILES


Textile units cheer move to allow women work late night
THE Central Government's decision to amend the Factories Act to allow women to work in night shift between 10 p.m. and 5 a.m. has cheered the textile sector, which have been calling for labour reforms in the face of what they call a shortfall in ... More

EDUCATION


Spark of an idea
From producing Big Books to encourage shared reading, to creating audio-visual content to liven up classroom teaching, Spark-India is trying out new ideas in the world of education. More

ISTE to conduct award programme for schools
THE International Society for Technology in Education (ISTE) India, a joint venture of Future Schools Foundation and ISTE, the US, is hosting an annual Presidential Awards Programme for schools. Mr Annamalai Muthiah, Chairman, Future Schools ... More

CARS


Used market expected to outpace new car market
MR Vivek Hallur, an engineer and an IIM graduate, left a high-paying job with a software company two years ago to set up a pre-owned car dealership in Bangalore. He hasn't regretted his decision since then. Mr Hallur is one of the several ... More

INDUSTRY ASSOCIATIONS


National strategy on R&D advocated
INDIA needs to have a national strategy to make the country the leading destination for research and development (R&D) in the world in the next one decade, according to a seminar on innovation. Mr Vinay Deshpande, Chairman and CEO of Encore ... More

  • Kanara Builders' body office-bearers

    BIO-TECH & GENETICS


    Bank lending: Biotech cos seek priority sector status
    THE Department of Biotechnology (DBT) today proposed that bank lending to biotech companies should be categorised as priority sector lending. Also, accepting a long-standing industry demand, it has proposed the formation of a National ... More

    SCIENCE & TECHNOLOGY


    Mineral Award for six ONGC geoscientists
    SIX geologists of ONGC have bagged the National Mineral Award 2003 for their contributions in fundamental and applied geosciences and also in the field of hydrocarbon exploration and production. The National Mineral Award is the highest honour in ... More

    Agni-III missile to be test fired by year-end
    AGNI-III, the latest and advanced version of India's long range ballistic missile, is all set to be test fired by the end of 2005, the Programme Director of AGNI, Mr R.N. Agarwal, has said here. Some important milestones that will establish ... More

    Geophysical Union President
    HYDERABAD: Dr V. P. Dimri, Director, National Geophysical Research Institute , has been elected President of the Indian Geophysical Union for the period 2005-07. He will succeed Dr E. Desa, former Director, National Institute of ... More

    CINEMA


    Demand for visual effects specialists in movies on the rise
    DEMAND for various art and software skills relating to visual effects in movies is on the rise world-over, Mr Barry Osborne, Oscar Winner and Producer, The Lord of the Rings, said here on Thursday. He said that movie-making had today ... More

    IPR


    Seminar on IPR in Hyderabad
    HYDERABAD: The World Intellectual Property Organisation (WIPO) and the National Institute of Fashion Technology (NIFT) will jointly organise a national seminar here on the `Importance of Intellectual Property Rights (IPR) for Handicrafts,' ... More

    RURAL DEVELOPMENT


    Their kitchen radiates energy
    From rolling papads and hand-grinding masalas to negotiating with foreign buyers, bankers and legal cells... two organisations that capitalise heavily on women's inherent strengths and skills. More

    EXPORTS & IMPORTS


    Cashew exports set to cross Rs 2,600 cr
    IF the current trend in the exports of cashew kernels is any indication, the exports this fiscal are to cross Rs 2,600 crore for the first time in the commodity's history. Thus, it is expected to break the previous record of 96,805 tonnes valued ... More

    PEOPLE


    A crucial IRMA meeting for Kurien
    IT is an institution which he built 25 years ago. But on Friday, India's milk-man, Dr V. Kurien, faces perhaps the toughest challenge to his leadership of the Institute of Rural Management, Anand (IRMA). Much against Dr Kurien's wishes, the ... More


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    Top Stories
    Regulate hospital charges, urge health insurers


    Business community prepared to accept VAT: Assocham

    Shareholders angry over BPCL-Kochi Refineries merger swap ratio

    External debt rises to $120.9 b

    Used market expected to outpace new car market

    Cashew exports set to cross Rs 2,600 cr

    India, Mauritius sign pact to increase, extend air services

    In Focus

    BHEL Disinvestment
    China's 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. 20-Mar. 26
    G-20 adopts New Delhi Declaration

    `India has to focus on building strong corporations'

    New technique to remove cancerous breast tumours

    Coffee exporters, buyers grapple for stocks

    Mumbai port emerging auto exports hub

    GDP may grow 7-8 pc next fiscal: PM

    Maharashtra to slash stamp duty on commodity market transactions, G-secs

    `Common carrier principle to get buried with Petronet India'

    Infrastructure industry index slips 0.6 pc in Feb

    Displacing conventional fuels reduces energy/GDP ratio

    HDFC joins SBI to float real estate venture fund

    Spices export exceeds volume target

    Time to compress rural credit delivery system

    Protocols for automotive electronics — Infosys becomes premier partner in Autosar

    Inflation down despite costlier food items

    Reliance Life sets up cord blood archive

    MNC drug cos patently unhappy with new regime

    Traditional goods push exports up 20 pc


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