The Hindu Business Line : Saturday, March 31, 2007

NRIS
Source rule for taxing NRIs
Several judgments of High Courts are proposed to be nullified by the Finance Bill, 2007. For instance, the Executive is looking to annul a judgment delivered in January 2007 concerning interpretation of Section 9 of the Income-Tax Act, 1961 by ... More

OVERSEAS BORROWINGS
Japan okays Rs 6,916-cr soft loan package
Japan on Friday agreed to provide soft loans amounting to &yen 1,84,893 million (Rs 6,916 crore) to India as its official development assistance (ODA) for financial year 2006-07. An Exchange of Notes to this effect took place here today ... More

ECONOMY
RBI marks up key rates; aim is to ensure price stability
Repo rate, cash reserve ratio raised; retail, corporate loans may turn costlier More

Fiscal deficit reaches 80% of target
The Centre's fiscal deficit in April-February 2007 (eleven months) touched a level of Rs 1,21,817 crore. This represented 80 per cent of the full year's fiscal deficit target of Rs 1,52,328 crore, the Controller General of Accounts said on ... More

Services receipts help reduce current a/c gap
Trade balance continues to be negative More

External debt surges by $6.19 b in Q3
On the back of commercial borrowings, NRI deposits More

ENVIRONMENT
Environment Protection Agency signs pact with CII
The US Environment Protection Agency (EPA) and Confederation of Indian Industry (CII) have entered into an agreement to share information of Climate Leaders Programme, an eco-protection initiative being implemented in the US currently. This ... More

EXCISE AND CUSTOMS
Pune mops up Rs 251 cr in customs revenue collections
Hinterland ports at Dighi, Chinchwad and Pimpri much sought-after by trade More

`Govt may reduce import duties on luxury products'
Duties on import of luxury goods may come down. The Government on Friday said it might consider reducing duties in a manner that does not hurt the domestic market. ``If the industry comes up with certain items on which duties can be brought ... More

FOREIGN TRADE
Zambia consular offices in 3 metros
Direct air link between Mumbai and the Zambian capital of Lusaka would begin by the fourth week of April 2007. More

Indo-Swiss B2B contacts firmed up
Indo-Swiss bilateral commercial co-operation got a big boost with high-level B2B contacts that took place at the Swiss Forum for International Business, which concluded in Zurich on Wednesday with India as the focus country. The Union Minister ... More

HEALTH
Corporates setting up anti-retroviral treatment centres
ACC Cements, CMC, Thapar Group and Godrej Group will be sponsoring four Anti-retroviral Treatment (ART) centres. In keeping with tradition, the corporate sector announced its social initiative on the eve of the launch phase three of the ... More

PSU
Central public sector units' turnover may cross Rs 10 lakh cr
The total turnover of 245 public enterprises in the Central sector in the country is expected to cross Rs 10 lakh crore mark this financial year as against Rs 8,32,584 crore in 2005-06. The net profit is also expected to grow significantly from ... More

POWER
Power situation in Kerala comfortable
`Reservoirs of hydel projects have enough water' More

Newcastle port congestion hits Indian thermal power sector
Power plants may have to pay higher coal transportation costs More

`Lanco-Jindal combine best placed to execute Sasan project'
Final decision to be taken by evaluation panel More

TAXATION
When foreign targets blip on your deal radar
Achieving global effective tax rate (GETR) reductions will improve post-tax cash flows and enhance shareholder value. However, tax planning should not be conducted in isolation but must be integrated into business initiatives. More

CST ceiling rate cut notified
The Finance Ministry has announced that the ceiling rate on central sales tax (CST) would stand reduced from 4 per cent to 3 per cent from April 1. The revenue department has now issued a notification to this effect. An official release ... More

TEXTILES
`Allocate more funds for textile spinning sector'
A re-look at allocation of funds for the textile spinning sector under the technology up-gradation fund scheme (TUFS) with a suggestion for one or two per cent cut in the interest subsidy to the sector and a possible review on the vintage of used ... More

Global textile meet at Coimbatore in June
An international conference on advances in textiles, machinery, non-woven and technical textiles, ATNT 2007, will be held in Coimbatore between June 18 and 20. The meet jointly hosted by the Texas Tech University's Institute of Environmental ... More

EDUCATION
SRM pact for community college
SRM University has signed a memorandum of understanding (MoU) with US-based American Association of Community Colleges (AACC) to set up a Community College under the SRM group of institutions. This also includes student and ... More

US institute offers training in project management
Most of us at some point in time have asked our parents: "What work do you do in office?" The reply would seldom be different from "When you start working, you will know." If you probed further, you would have come across a barrage of jargon. A ... More

IIM-A convocation today
The Union Finance Minister, Mr P. Chidambaram, will deliver the 42nd annual convocation address as the chief guest at the Indian Institute of Management, Ahmedabad (IIM-A) tomorrow. Mr Vijaypat Singhania, industrialist and newly ... More

MEDICAL & SURGICAL EQUIPMENTS
Central lab certifies blood test kits of Monozyme
The National Institute of Biologicals, New Delhi, a Central Government laboratory, has tested the blood test kits supplied by Monozyme India Ltd and found them to be of standard quality. The Advocate-General of West Bengal on Friday placed the ... More

REAL ESTATE & CONSTRUCTION
L&T-Arun Excello promoting township project near Chennai
Estimated cost of project put at Rs 1,500 crore More

INDUSTRY ASSOCIATIONS
TN bandh will cripple industry: CII
The Confederation of Indian Industry Tamil Nadu State Council has urged the Government to reconsider its decision calling for a State-wide bandh on Saturday. A CII press release, which quoted the Chairman of Tamil Nadu State Council, Mr Gopal ... More

KNITWEAR & HOSIERY
Tirupur dyers plan `stop production' from April 9
Marking inability to pay penal levy imposed by High Court More

MINERALS
Identify properties for mining, Coal India arms told
Task force formed for increasing production More

NEWSPAPERS & PUBLISHING
1,500 new newspapers, periodicals registered
Nearly 1,500 new newspapers and periodicals were registered with the Registrar of Newspapers for India between April and November 2006. In an official statement, the Government also clarified that while it verified and approved nearly 10,700 ... More

RURAL DEVELOPMENT
Credit plan for Madurai put at Rs 1,225 cr
The annual credit plan for Madurai district envisages an outlay of Rs 1,225 crore for 2007-08. A sum of Rs 696.13 crore has been earmarked for the agricultural sector along with Rs 53.32 crore for agriculture-allied activities, 19 per cent more ... More

HUMAN RESOURCES
Old hands win new placements
After an average nine years in service, they resigned from their respective jobs, joined a one-year course at the IIM-A and found their careers zooming up when global firms lapped them up during placements. They included ... More

INCOME TAX
PSU employees irked by tax on company housing
Unions plan demonstration on April 26 More

EXPORTS & IMPORTS
Pak import move lifts turmeric futures
Turmeric futures on NCDEX increased by 2.41 per cent to Rs 2,338 per quintal on Pakistan's decision to import 2,500 tonnes. Pepper futures gained 3.18 per cent to Rs 13,838 per quintal on the back of strong international prices. Domestic spot ... More

TOURISM
Nepal roadshows to woo tourists
Assuring that the Maoist violence is a thing of the past, Nepal Tourism Board (NTB) on Friday launched its roadshows in Ahmedabad to be followed by another in Vadodara, to woo the globetrotter and high-spending Gujarati tourists ... More

ECONOMIC OFFENCES
Govt issues draft exim valuation rules
Move against money laundering, misuse of drawback schemes More