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| Ram Sahai inaugurates New Age Cyber Kids Excelsior Correspondent JAMMU, Oct 28: The president of Chamber of Commerce and Industries Mr Sam Sahai.....more Share prices end MUMBAI, Oct 28: Share prices ended on a steady note at the Bombay and National....more CBDT targets to bring 50 CHENNAI, Oct 28: The Central Board of Direct Taxes (CBDT) has targeted to bring 50 million....more
Gold loses further NEW DELHI, Oct 28: Gold prices dropped further on the bullion market today on reduced.....more |
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Cyclonic storm hits WB coast CALCUTTA, Oct 28: A cyclonic storm accompanied by squally winds of 50 to 60 km per hour hit the West Bengal coast past mid-day near the Sagar islands bringing heavy rains in its wake and gradually weakened into .......more Orissa Govt suggested BHUBANESWAR, Oct 28: The Utkal Chamber of Commerce and Industry has suggested the Orissa Government to set up an Infrastructure Development Board (IDB) under the chairmanship of the Chief Minister for the speedy industrialisation of the state....more Call for attitudinal PATNA, Oct. 28: Tata Iron and Steel Corporation Limited (TISCO) Managing Director J.J. Irani had ....more Tea gardens of JALPAIGURI, Oct. 28: More than 75 tea gardens in Dooars are facing financial crisis due to non....more |
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Ram Sahai inaugurates New Age Cyber Kids Excelsior Correspondent JAMMU, Oct 28: The president of Chamber of Commerce and Industries Mr Sam Sahai inaugurated the New Age Cyber Kids. As per a release, New Age Cyber Kids is a computer institute first of its kind in the State. It is in collaboration with New Age Cyber Kids, London and the owner Mr Vishal Mahajan is one of the authorised country business partner for India. There is nothing like fun to get a child’s mind going. Keeping this in mind, New Age Cyber Kids has designed course especially for children aged between 5-15 years. NACK is a station where children can learn, play and grow under expert guidance. Moreover, the special software has been imported from London. The course is specially designed keeping in view the school curriculum of children. The environment is entertaining fun field and friendly. In addition to it, for the sake of convenience of people, transportation facility is also provided. The other special features of one year curriculum of NACK other than computer courses included personality development, brain development, team working, english speaking and writing, computer hardware and other courses covering MS Office, Multimedia and Internet etc, basic touch of HTML language and visual basic etc. Mr Vishal Mahajan will soon open various franchises outlets at all districts levels in the State. Thus, aiming to make every children be cyber kid of its class and family. The NACK has also started swift foundation course for ladies also. Prominent among others who attended the function included Messrs Kulbhushan Gupta, Anil Choudhary, Romesh Gupta, Pradyot Gupta, Rajesh Gupta, Vikas Arora, Naresh Gupta and Vishal Arora. |
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Share prices end on a steady note MUMBAI, Oct 28: Share prices ended on a steady note at the Bombay and National Stock Exchanges in absence of major market moving factors and active buying interest from market players as well as investors during the week ended October 27. Although, few operartors and institutional investors showed interest in selective technology and pharma stocks during the week, their buying was very limited, dealers said. Foreign Institutional Investors (FIIs) who were net sellers so far have turned net buyers during the week. However they remained net sellers during October (till October 25) in Indian equities. Considering purchases of over Rs 520 crore during the last week, their net sales declined over 147 crore. "World over stock markets are witnessing southward trend in view of the ongoing middle east conflict and flucutation in crude oil prices", said Dr R H Patil, Managing Director, National Stock Exchange. According to him, unless there is any solution to these issues, market is likely to continue similar trend in the future. Expressing similar concern about the markets which entered into the new Samvat 2057 on Thursday, Bombay Stock Exchange (BSE) President Anand Rathi said that the oil prices which are overheated now need to stabilise. This will boost equity markets world over, he said. Mirroring the directionless market, the benchmark BSE-30 sensitive index (sensex) ended higher by 36.37 points at 3729.12 points as against last week’s close of 3692.75 points. At the NSE, S P CNX nifty gained 6.70 points to 1178.70 points from previous Friday’s close. Markets made a weak start on last Monday with 73 points drop in the sensex following unwinding of speculative positions by operators and delivery based selling by funds. However, market staged gradual recovery with the sensex gaining 136 points in next three days. The benchmark index once again fell by over 28 points on Friday, last day of the week and second day of new settlement of Samvat 2057. In the derivative segment the volumes on sensex futures are slowly picking up. BSE has advanced the trading hours in sensex futures by 25 minutes from October nine. Now trading in sensex futures opens at 0930 hours, 25 minutes before start of cash market. During this 25 minutes all the news and views are discounted and reflected in the futures prices which give direction to the underlying cash market sensex. Volumes in sensex futures which were about 7-8 crore before change in timings now stand about 13-15 crore. Meanwhile, the broad-based BSE-100 index recorded a gain of 37.34 points to 1922.73 points from the last week’s finish of 1885.39 points. The BSE-200 and dollex ended higher by 8.28 and 1.58 points to 411.66 and 146.51 points from the previous week’s close of 403.38 and 144.93 points respectively. (UNI) |
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CBDT targets to bring 50 million people in tax net CHENNAI, Oct 28: The Central Board of Direct Taxes (CBDT) has targeted to bring 50 million people in the tax net in the near future, CBDT Chairman A Balasubramanian said today. Addressing members of the Madras Chamber of Commerce and Industry (MCCI) here, he said there has been a spurt in the number of tax payers and expressed the hope that the CBDT would achieve the target. As of March 31 this year, the total number of tax payers in the country was 23 million which was almost double compared to two or three years ago, he said. Claiming that the services provided by the department to the tax payers were good, he said it was proposed to further restructure the Income-Tax Department and improve the services. Mr Balasubramanian said in the past three years stability was being maintained in the rate of taxation and plans had been drawn to further reform the tax structure. If the various chambers of commerce take a pledge not to ask for any tax reliefs for the next five years, the department could rationalise the whole structure and reduce the tax burden, he added. Conceding that there had been a delay in computerising, Mr Balasubramanian said the department would be fully computerised by March next year. Speaking on the occasion, eminent economist and chairman of Madras School of Economics Raja J Chelliah said the Centre should consider taxing highly paid software professionals differently as income tax was a leveller of a growing disparity in the country. Suggesting to broadbase the tax net, he cautioned the department to avoid double taxation. Referring to globalisation, he said policy-makers should ensure that India did not get a beating in a globalised economic scenario. While opening the doors to international corporations, Indian trade and industry should atleast be protected if not not fostered. The Government should consider giving incentives to indian businessmen to enable them to compete with at least developing countries, he said and added that giving such incentives were not not prohibited by the World Trade Organisation (WTO). Mr Chelliah said the component of direct taxes in the Gross Domestic Product (GDP), which was 1.84 per cent, has gone to three per cent during 1999-2000. Earlier, the MCCI suggested for certain amendments in Sections 10(A), 43 and 145 of the Income Tax Act and Rule 89 of the income tax rules. (UNI) |
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Gold loses further ground on weak foreign advises NEW DELHI, Oct 28: Gold prices dropped further on the bullion market today on reduced offtake as festival season was over coupled with an impact of weak overseas trend and closed with another notable loss. Marketmen said after the Diwali, it seem that festival season was over which caused a substantial fall in demand. They said a falling trend in the international market where gold touched 265 US dollar an ounce, directly impacted the trading activity. A strong US dollar against regional currencies was another dampening factor, they added. Standard gold and ornaments dropped by Rs.30 each at Rs.4450 and Rs.4300 per ten gram respectively. Sovereign was unchanged at Rs.3800 per piece of eight gram. Silver ready was down by Rs.5 at Rs.7815 per kilo while weekly delivery gained Rs.10 at Rs.7850 per kilo on speculators buying. However, silver coins continued to be asked at last level of Rs.11,300/11,400 per 100 pieces. The following were today’s quotations: Silver ready 7815 and delivery 7850. Silver coins buyer 11,300 and seller 11,400 standard gold 4450, ornaments 4300 and sovereign 3800. (PTI) |
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CALCUTTA, Oct 28: A cyclonic storm accompanied by squally winds of 50 to 60 km per hour hit the West Bengal coast past mid-day near the Sagar islands bringing heavy rains in its wake and gradually weakened into a deep depression after landfall. The deep depression, which lay centred at 150 km east of Calcutta, was likely to move in a north-easterly direction towards Bangladesh and weaken further, regional Met Office sources here said. Under its influence, heavy rains lashed parts of West Bengal coast and Gangetic West Bengal. Squally winds of 40 to 50 km per hour were experienced in coastal areas of south and north 24 Pargana, Nadia, Howrah, Hooghly, Midnapore and Malda uprooting trees and damaging kutchha houses. The storm caused a strong surge of 1 to 1.5 metre above the normal tide level near the landfall point, the sources said. The area cylcone warning issued by the regional Met Office was withdrawn following the landfall, the sources said. A south 24 Parganas report quoting District Magistrate Alapan Bandhopadhyay said many mud huts had collapsed in the district following heavy rains and high winds last night, but their exact number was not known. A number of river embankments at Patharpratima, Gosaba, Sagar islands, Namkhana and Bakhali areas had developed cracks with a rise in levels of rivers. District Engineers, Executive Engineers and an Additional District Magistrate were assessing the damage, Bandhopadhyay said.(PTI) |
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Orissa Govt suggested to set up IDB BHUBANESWAR, Oct 28: The Utkal Chamber of Commerce and Industry has suggested the Orissa Government to set up an Infrastructure Development Board (IDB) under the chairmanship of the Chief Minister for the speedy industrialisation of the state. The IDB was one of the many recommendations of the UCCI made to the Government following a meeting held at Cuttack recently for modification in the draft industrial policy resolution-2000 prepared by the Government to achieve the objective. Among other things, the UCCI said the IDB should identify key infrastructural requirements, prepare projects and proposals in a time bound manner, decide on the modalities of funding and review the execution of projects. The Government should also encourage private investment, participate in joint venture for infrastructure development and in selected cases should provide land either at a concessional rate or free of cost and free of encumbrances, the recommendation said. The UCCI urged the Government to treat the cyclone affected units which were under rehabilitation programme of the financial institutions or approved by them as new industrial units. It also recommendated the Government to corpotarise and disinvest the service sector departments like higher education, technical education, medical education, health services excluding primary health, irrigation projects, state highway, water supply muncipal services, minor ports as had been done in the power sector. The UCCI appealed to the Government to give the real estate construction activities the status of an industry, declare all existing and new industrial units in the state as essential service for a period of five years and launch a scheme for right-sizing of the work force to improve productivity and competitiveness of the industry in Orissa. All industrial units be exempted from Employment Exchange Act, Shops and Establishment Act and Contract Labour (Regulation and Abolition) Act pending review of labour laws by the Government of India, it suggested. The recommendation also pointed out that with the consent of majority of the employees all industrial units be exempted from the applicability of the ESI Act. Export oriented units, hospitality industry and units declared sick be exempted from the provision of Section V (B) of the Industrial Dispute Act and a committee be constituted comprising members from a divorce category of industries to meet once a year to decide the items to be included in the exclusive list. Industrialists who had specific proposals for setting up industries in the state for procuring value addition of minerals be given priority in the grant of prospecting licenses and mining leases in three months and be allowed ten per cent rebate of the royalty payable, the UCCI recommendation said. (UNI) |
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Call for attitudinal change for
new industrial PATNA, Oct. 28: Tata Iron and Steel Corporation Limited (TISCO) Managing Director J.J. Irani had stressed the need for an attitudinal change in the bureaucracy in Bihar for the speedy industrial development in the state. Mr.Irani, also the Chairman of Industrial Development Corporation, specially constituted for finding ways for accelerating industrial activities in Bihar. He was addressing a meeting at Bihar Chamber of Commerce in the state capital last evening, which was attended by Rashtriya Janata Dal president Laloo Prasad Yadav, State Industry Minister Vishwa Mohan Sharma, State Silk and Handicrafts Minister Ravindra Charan Yadav, Minister of State for Power Shyam Rajak and RJD MLC Ram Kripal Yadav. State Director General of Police K.A. Jacob, a host of businessmen and others also attended the meeting. Mr. Irani presented the IDC’s interim report to the State Government during the meeting. The commission had already held similar meetings in the state capital, Ranchi and Jamshedpur. The commission is meeting at Renukoot in Uttar Pradesh today. Mr. Irani said half of industrial units in the state would be closed down if Bihar State Electricity Board (BSEB) did not withdraw its decision to collect fuel surcharge from the businessmen which have accumulated over the last five years. Exuding confidence that the commission would submit its report by Februrary next year, Mr. Irani said it was high time that we realize why nobody was interested in investing in Bihar. He explained that the bureaucracy’s "false ego" was one of the most prominent stumbling blocks in the industrial development of the state. He said the bureaucracy’s general perception in Bihar was that all businessmen were prone to indulge in corrupt practices and pointed out that this needed to be changed as early as possible. He observed that law and order problem in the state was also discouraging businessmen from coming to the state. However, state Chief Minister Rabri Devi could not attend the meeting as she was indisposed. Arguing that a firm message of attitudinal change in the bureaucracy should come from the head of the state Government, Mr. Irani said the state Government should first decide whether it wanted the flow of investment to the state. He said the past and the present system in the Government machinery was not favourable for the industrial climate in the state and added that new ways had to be evolved for the purpose. Dispelling the fear of Rashtriya Janata Dal president Laloo Prasad Yadav about the Information Technology, Mr Irani said the Information Technology had a good potential for creating jobs as it needed manpower for operating computers. Claiming that Bihar had been pushed to the corner for the last few years and robbing it of the opportunity of industrial development, Rashtriya Janata Dal president Laloo Prasad Yadav said the state was not in an advantageous position because of the large scale mineral deposits in its southern region as minerals were owned by the Centre. Contending that there was a lot of difference between running a Government and an industry, Mr. Yadav argued that he had to take a collective decision for any Government’s programme and policy. He also blamed the freight equalisation policy on steel for the industrial backwardness in the state. Mr Yadav said computers could not solve the basic problems of the society like drinking water and others. He said the Information Technology was best suited for the rich countries where human resources was scarce. He also blamed banks for the industrial backwardness in the state with low credit deposit ratio. Criticising the Centre’s policy of inviting Multi National Companies, he said it would play havoc with the domestic industry. He said Bihar would never allow its land to be used as the market place for the foreign companies.(UNI) |
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Tea gardens of Dooars face hurdles JALPAIGURI, Oct. 28: More than 75 tea gardens in Dooars are facing financial crisis due to non-renewal of their lease deeds which might affect the tea production in the state. According to tea circle here, the financial institutions were not coming forwards to lend cash to these gardens unless their lease of the estates were renewed. Sources said besides administrative tangle in clearing the applications of lease deed to gardens, certain irrelevant documents had been demanded by the concerned Government Department. Because of stalemate of the clearing the applications, the Department now forwarded those applications to Revenue Department at Writers’ Buildings for scrutiny and final clearance, the the tea circle officials here said They said the inordinate delay in clearing the lease deeds applications was affecting tea inputs in the Dooars which obviously hamper the output . We were not aware of so much time is taken for clearing a new lease deed. Now we have been advised by the tea circle people to apply for renewal of lease deed at least six months before the expiry date so that we can avoid delay as well as penal action , said a tea estate manager. Meanwhile, Jalpaiguri District Magistrate Subrata Gupta has imposed penalty of Rs 1.25 lakh on Tashhati Tea Garden owner in Birpara for non renewal of its lease deed after expiry of date. The Magistrate also fined a penalty of Rs 15,000 on Changmari tea garden in Nagrakata area for not obtaining prior permission from the authorities for extending tea cultivation area.(UNI) |
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