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Microtek launches Excelsior Correspondent NEW DELHI, Dec 15: Microtek International Limited, a leading IT peripherals company— has launched its new "Aspire Series" Pentium-4 motherboards....more Car,
MUV, CV, scooter, NEW DELHI, Dec 15: Domestic car sales went up for the second successive month this year clocking a marginal 1.8 per cent rise in ..more Sinha suggests monthly audited accounts CHENNAI, Dec 15: Union Finance Minister Yashwant Sinha today suggested introduction of monthly audited accounts....more |
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Agriculture to
be the main thrust of next Union budget CHENNAI, Dec 15: Union Finance Minister Yashwant Sinha said today that agriculture......more Centre requested to SHIMLA, Dec 15: Himachal Pradesh Industry Minister Kishori Lal today said the State Government had .........more Chairman of the MUMBAI, Dec 15: Rustom Cama, Chairman of ‘Mumbai Samachar’, the leading Gujarati daily and India’s oldest newspaper, passed away here today.......more |
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Car, MUV, CV, scooter, 3-wheeler sales rise in Nov NEW DELHI, Dec 15: Domestic car sales went up for the second successive month this year clocking a marginal 1.8 per cent rise in november as automakers like Hyundai, Tata Engineering (TELCO), Fiat and Ford India posted increased sales. However, sales of market leader Maruti Udyog and Hindustan Motors dropped while troubled Daewoo Motors India did not disclose its sales figures for the review month. Total car sales stood at 42,740 units over 41,986 cars sold in November 2000, data released by the Society of Indian Automobile Manufacturers (SIAM) showed today. Cumulative sales (April-November 2001-02) stood at 3.5 lakh cars, a 4.2 per cent drop over 3.7 lakh cars in the year-ago period, the data showed. Maruti recorded a 11.1 per cent dip selling 23,994 cars in November 2001 over 27,007 cars in the year-ago month. Commercial vehicles sales, a barometer of economic growth, rose 7.8 per cent to 10,297 units from 9,548 units, due to a rise in medium and heavy vehicles sales. Multi-Utility-Vehicles (MUVs) recorded a 14.3 per cent jump at 10,456 units over 9,146 units in the year-ago month. In the two-wheeler segment, scooter, the once-mainstay of the middle class continued its revival, posting a 15 per cent rise with sales of 79,560 units during november. Motorcycles sales also increased 34.8 per cent at 2.6 lakh units over 1.9 lakh units sold in the year-ago month. But, moped sales declined 19.2 per cent to 45,026 units while three-wheelers went up 19.2 per cent at 16,085 units. (PTI) |
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Sinha suggests monthly audited accounts CHENNAI, Dec 15: Union Finance Minister Yashwant Sinha today suggested introduction of monthly audited accounts of corporates to ensure prompt accountability and transparency. Inaugurating the golden jubilee celebrations of the southern Regional Council of the Institute of Chartered Accountants of India here he said, with increased computerisation of corporate accounts, it would be possible to introduce monthly audited reports for the benefit of the investing public as also the external sources of funding. Transparency in corporate accounting was imperative as it was the major input the external funding agencies relied upon for corporate finance, which was essential in today’s globalised economy, Mr Sinha said. This would also help in tracking whether the corporate finances were managed correctly, he noted. The minister pointed out that in earlier times, the best accountant was the one who helped corporates to pay the least tax. This attitude should change and the best accountant should be the one who ensured full compliance with tax laws, he said, provoking subdued laughter from the packed Kamaraj auditorium, the venue of the conference. Mr Sinha said in the second phase of economic reforms, now undergoing, the role of the states was paramount. The states should be partners in the reform process, not just in power sector reforms but in the entire gamut of reforms, including taxation. Most major states had agreed to implement the Value Added Tax (VAT) from April 2002, he added. The second generation reforms also entailed legislative processes and had predictably invited opposition from certain quarters, he noted. In the insurance sector for example, the worst fears of the critics had been unfounded. The public sector insurance companies, especially the life insurance corporation, had witnessed robust growth after the entry of the private sector, thus demonstrating the resilience and competitiveness of the Indian public sector and the making of the Indian multinationals, he commended. Admitting that there had been loopholes in the allocation of resources for development, the Finance Minister wanted it to be ploughed through transparent accounting practices. The reform process was not to be confined to the realms of the elite but should be judged by how it directly impacted the lives of the common man, Mr Sinha said. He said he would have extended consultations with the Institute of Chartered Accountants of India for inputs for the budget making of 2002-2003. The conference, attended by nearly 2000 delegates, the highest ever in any accounting conference, has the theme ‘progress in a knowledge era’. (UNI) |
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Agriculture to be the main thrust of next Union budget CHENNAI, Dec 15: Union Finance Minister Yashwant Sinha said today that agriculture sector would be the main focus of the next budget. "Even at the risk of leaking a budgetary secret, I would like to say that agriculture will be the main thrust of my next budget," he said, addressing an interactive session organised by the Madras Chamber of Commerce and Industry here. Noting that the country was sitting comfortably on a 60 million tonne heap of foodgrains, he said the country could now even afford export of foodgrains at Below Poverty Line (BPL) prices. Long term markets for our foodgrains needed to be developed, he added. On tax structure reforms, he said the focus in the years to come would be at "more compression, covergence and rationalisation" for all kinds of taxes. Assuring that efforts would be made to make the Indian tax administration more friendly to the tax payer, he said "one of my unfinished tasks today is to take the fear out of tax payer about the tax authorities and ensure that he has nothing at all to fear about them." Sinha disputed the contention that economic reforms were being kept on hold and his Government lacked the political will to go ahead with the same. Stressing the need for patience, he said labour market reforms, which had slightly been delayed, would soon be taken up after due consultations with all concerned and would be tabled in Parliament. Sinha said the objective of the second phase of economic reforms was to develop for ourselves a model of growth characterised by sustained progress in the current decade and and that was not vulnerable to crashes due to inherent weaknesses. "This is our latest challenge in the economic front," he said, adding Centre was committed to take all the States on board in taking up this challenge and see that the second phase of economic reforms turned out to be a success. It was with the purpose of providing incentives to the States on the reforms front that the Centre had constituted a incentive fund of Rs 10,000 crore. Sinha said Government was aware that the present economic growth of around 5.3 per cent was not enough but there was no need to portray the same as a catastrophe. He said the inflation has come down to as low as three per cent in the manufacturing sector, almost on par with international level. On the opposition’s continuing criticism of economic reforms in Parliament, he said "here people are too quick to condemn a thing and for them it is easy to find a scapegoat; that is what has happens in Parliament." (PTI) |
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Centre requested to extend
income tax SHIMLA, Dec 15: Himachal Pradesh Industry Minister Kishori Lal today said the State Government had requested the Central Government to extend income tax holiday for new industrial units from March 2002 to 2007 in the State, keeping in view its difficult topography. Addressing a press conference here, he said the Central Government had already extended transport subsidy scheme for Himachal upto 2007 on the request of the State Government for transportation of raw material from the nearest railhead to factory site and finished goods from factory to the railhead. To give boost to industrial development in the State, he said an export promotion industrial park was being set up at Baddi in Solan district with an estmated cost of Rs 20 crore. The first phase of the park has been completed and plots are available for allotment to prospective entreprenours. A growth centre at Sansarpur terrace in Kangra district is also being developed, he added. The minister said industrial areas established at Baddi, Barotiwala, Chambaght, Parwanoo, Kala Amb, Panota Sahib, Mehatpur and at certain other places in the State were being strengthened by creating basic infrastructure facilities. Mr Kishori Lal said that handloom was an important cottage industry of the state providing employment to about 45000 persons. For development of this sector, he said various schemes, sponsored by the Centre and State Government, were being implemented. From last year a centrally sponsored schemem "Deen Dyal Hatkargha Protsahan Yojna", which envisaged basic infrastructure support was being implemented through the State Handloom Development Corporation, he said. For the benefit of handloom wearers outside the corporation fold, an assistance of Rs 9000 per unit was being provided for the construction of a workshed to those weavers who had no proper working place for weaving activities, he added. Mr Kishri Lal said sericulture, which provides occupation to about 7000 families, most of whom belong to the poor section of the society, was being given added attention. Silk worms’s rearers are being given various facilites such as grant of Rs 2500/- for construction of silkworm rearers house and grant of Rs 500 for purchase of rearing instrument. He said with a view to creating employment opportunities to educated unemployed youth in the State, Prime Minister Rojgar Yojna was being implemented in all districts of the State. The scheme relates to setting up of employment ventures. Under this scheme eligible persons can get assistance/loan upto Rs one lakh and avail subsidy at the rate of 15 percent. (UNI) |
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Chairman of the ‘Mumbai Samachar’ Rustom Cama dead MUMBAI, Dec 15: Rustom Cama, Chairman of ‘Mumbai Samachar’, the leading Gujarati daily and India’s oldest newspaper, passed away here today. Cama, 79, is survived by his wife Mehroo, son Mehli and daughter Avi Dastoor. Russi, as he was affectionately called by his colleagues and friends, was highly respected among the newspaper fraternity and the printing industry. He was closely associated with Press Trust of India and was chairman of its board of directors in 1987-88 and former president of All India Federation of Master Printers and Indian Newspaper Society. He was invited by the Union Government to be the first chairman of development panel for the printing industry. Cama also led the country’s first newspaper delegation to China. Born in 1922, Cama obtained his Bachelor of Commerce degree from Mumbai’s Sydenham College. He then joined a private printing press to learn the basics of printing before joining the family-owned "Mumbai Samas, the now defunct "Bombay Chronicle" and "Bombay Sentinel". He looked after the management and financial sides of the establishments. A keen sportsman, Cama had won the junior heavy weight boxing championship of the then Bombay Presidency in 1936. He excelled in long distance swimming and sailing, winning many yatching trophies. Cama was the former president and commodore of the Colaba Sailing Club. Besides, he was former commodore of the Yatch Club and was on its managing committee for many years. He was connected with a number of important philanthropic trusts and charitable institutions of the Parsi community. Meanwhile, the Indian newspaper society in Delhi deeply mourned the death of Cama and said that as the president of the society in 1986-87, he provided dedicated and able leadership. He was a pioneer in the field of newspaper management and represented the society on a number of official committees and ably led its delegations on numerous occasions to pursue matters relating to the newspaper industry with the Government. "He was a visionary and always thought of the years ahead. The society owes its eminence, to a great extent, to Cama, who would ever be remembered," the INS said. (PTI) |
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Microtek launches Pentium-4 motherboards Excelsior Correspondent NEW DELHI, Dec 15: Microtek International Limited, a leading IT peripherals company— has launched its new "Aspire Series" Pentium-4 motherboards. The MTEK845VI motherboards is based on the high speed Intel 845 Chipset architecture is built on the ATX form factor and can fit into any standard ATX cabinet. The motherboard supports 3 GB of system memory and has three 168 Pin DIMM slots. For easy expandability the motherboard also has 6 PCI slots, one CNR and one 4 XAGP slot. It has also two ATA/100 connectors where upto four IED devices can be connected. Its other features include two USB ports, one connector for two additional external USB ports, two DB-9 serial ports, one DB-25 parallel port, three ATX power supply connectors and one wake-on-Lan connector. It comes alongwith a kit consisting of a CD containing device drivers, one HDD data cable, one FDD data cable. These motherboard are being manufactured under totally antistatic and dust free environment in Microtek’s state of the art SMT plant in Delhi and are being marketed through Microtek’s over 2500 dealers and resellers spread across the country. This Pentium-4 motherboard is very attractively priced at Rs 7990 only. |
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