The Hindu Business Line : Wednesday, March 26, 2003

Bengal wind-diesel power project set to enter phase II
While 350 consumers are using power from the project, the Kolkata Port Trust, which has a rest house for sailors at the Sagar Island, has shown interest in using the project's power and replacing its DG sets. More

ANTI-DUMPING

Dumping duty order on Chinese silk soon
THE final notification on levy of anti-dumping duty on Chinese silk by the designated authority on anti-dumping in the Ministry of Commerce is expected in a month's time, said the Member-Secretary of the Central Silk Board, Mr Joy Oommen, on ... More

COURTS/LEGAL ISSUES

Special courts to try Abkari cases

FOREIGN TRADE

S. African team scouts for joint biz ventures
A DELEGATION from South Africa comprising representatives from 20 small and medium enterprises (SMEs) and five Government officials, is on a two-day visit to Hyderabad for promoting business ventures between South Africa and Indian entrepreneurs. ... More

PSU

KMML, KTDFC turn in dividends

PETROLEUM

Rs 1,000-cr bonanza awaits oil cos
THE Government has decided to pay an additional Rs 1,000 crore as subsidy to oil companies to partially compensate them for losses on sale of LPG and kerosene at subsidised rates during 2002-03. This will marginally reduce the losses incurred ... More

RasGas won't renegotiate LNG price for Dahej
THE Qatar-based LNG supplier RasGas Company Ltd on Tuesday said it would not renegotiate the price of LNG supply to Petronet LNG Ltd's (PLL) Dahej terminal. The company has, however, agreed to change the method of calculating LNG price to ... More

HC stays strike by BPCL workers
THE Madras High Court on Tuesday stayed the strike by the employees of the State-owned Bharat Petroleum Corporation Ltd (BPCL). According to the strike notices served on the BPCL and the Hindustan Petroleum Corporation Ltd (HPCL), the employees ... More

Oil PSU workers go on strike
THOUSANDS of workers belonging to HPCL and BPCL on Tuesday held a nationwide strike to oppose the privatisation of the two oil PSUs. The strike was called by 26 trade unions of HPCL and BPCL under the banner of National United Forum Against ... More

Kerala plea on kerosene allocation

POWER

Fallout of Iraq war — Power purchase cost of South plants set to soar
POWER purchase costs of the four South Indian utilities are expected to show a hefty escalation on account of increases in fuel costs on account of the ongoing war in Iraq. All of them have naphtha/gas fired plants. Andhra Pradesh at 1050.2 MW ... More

NPCIL moots new company to oversee Kalpakkam project
Mr S.A. Bohra, Senior Executive Director (Technical), NPCIL, said a company would help the FBR technology get the needed focus in terms of financial support, managerial commitment and recoveries. More

`Reliance's K-G block gas can power AP, TN'
RELIANCE could strike gas reserves from its exploration block in the Krishna-Godavari basin capable of meeting the current power demand of Tamil Nadu and Andhra Pradesh for about 15 years. At present, they have discovered about 9.46 trillion ... More

TAXATION

Traders in a tizzy as VAT deadline nears
WITH hardly a week to go for the States to meet their declared objective of implementing VAT that would replace the sales tax system, industry, traders and their distribution partners have started feeling the heat and tremors of the proposed ... More

Delhi to miss April 1 deadline for VAT regime
IT is virtually official now that Delhi will not move to a value-added tax (VAT) regime from April 1, the deadline that all States had originally set for themselves. In his Budget speech on Tuesday, the Delhi Finance Minister, Mr Mahinder ... More

Trade, industry observe bandh in Karnataka
Traders all over Karnataka closed down shutters to protest against the value-added tax system on Tuesday. The APMC yard in Bangalore wore a deserted look without any transaction being held on the day. ... More

VAT a problem!
A medical store in Ernakulam, with its shutters down on Tuesday. Druggists in many States have downed shutters in protest against VAT proposals.

TEXTILES

No registration, duty needed for yarn job work
THE Finance Ministry has clarified that yarn processors, powerlooms, hand-processors and power processors undertaking only job work need not pay any duty or even register and maintain records. Instead, all these formalities are required to be ... More

WATER

Panel on bottled water moots norms review
THE bottled water issue refuses to die down. The revision of standards for bottled drinking water is unlikely from April 1, as announced earlier, with the inquiry report on the subject submitted on Tuesday, recommending fresh guidelines to be ... More

EXIM POLICY

Exim Policy to aim at coherence
THE modified Export Import (Exim) Policy to be announced on March 31 by the Union Commerce and Industry Minister, Mr Arun Jaitley, is expected to herald an era of consolidation of the various existing export promotion schemes. This will be aimed ... More

BREWERIES

Karnataka hike in export duty to hit beer brewers
According to the Excise Department officials, Karnataka's average monthly beer consumption in recent times has languished at around five lakh cases forcing the breweries to export beer to push capacity utilisation. More

RADIO/TV

Tough uplink norms likely for foreign news channels
IN line with the guidelines for entry of foreign investment in the print media, the Government is likely to stipulate that both the management and editorial control remain in the hands of Indians for news channels planning to uplink from ... More

INDUSTRY ASSOCIATIONS

KCCI hails Budget proposals

JUTE

Lagan Jute may be transferred to Textile Ministry — To tap expertise for jute technology mission
LAGAN Jute Machinery Company Ltd, which was successfully divested in 2000, may soon be transferred from the Union Ministry of Heavy Industries to the Union Ministry of Textiles. The move is expected to help the Union Textile Ministry to ... More

FOREIGN DIRECT INVESTMENT

Atlas Copco among 29 FDI plans cleared
THE Government today cleared 29 proposals involving foreign direct investment (FDI) worth Rs 262 crore. The Minister of Finance and Company Affairs, Mr Jaswant Singh, has approved the proposals recommended by the Foreign Investment Promotion ... More

INTERVIEW

`FBTR: We had to cross many a hurdle' — Mr S.B. Bhoje, Director, Indira Gandhi Centre for Atomic Research
"Because of the problem in getting enriched uranium from France, all the fissile material had to be indigenous and we had to redesign the reactor. This was the first challenge. Indigenous fuel had to be got, with limited plutonium availability. When it became clear that we were not going to get any fuel from France, we decided to go in for the carbide fuel." More

`States can be allotted coal blocks without captive use curbs' — Mr Karia Munda, Cabinet Minister for Coal
The Ministry has decided to allot coal blocks to State Governments without the captive use restriction. A few applications have come from some States. We are hopeful of taking a decision in some of these cases shortly. The basic objective is to have more players in the market, according to Mr. Karia Munda. More

EVENTS

Thiruvananthapuram Engagement

INCOME TAX

TDS on fare differential — Travel agents get notice
Travel agents across the country have received an additional debt memo from airlines asking them to pay tax deducted at source (TDS) on the difference between published fare and net fare (what the customer actually paid). The Travel Agents ... More

Web platform for filing IT returns
ADVANTAGE eAccounting, promoted by the Mumbai-based Haribhakthi group, and Fin-e-ssential Infotech India Pvt Ltd, have joined hands to bring out a Web platform that offers bulk tax filing facility for corporates and individuals. The key ... More

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