|
|
V
P Singh, Deve Gowda MUMBAI, Feb 19: Two former Prime Ministers V P Singh and Dev Gowda flayed the economic policy of the Government and called upon the farmers ......more FIEO
to concentrate DUBAI, Feb 19: In a major bid to push the country’s exports, the Federation of Indian Export Organisations (FIEO) has decided to concentrate on the....more Iraqi-Syrian oil pipeline boost oil revenue WASHINGTON, Feb 19: The newly opened Iraqi-Syrian oil pipeline enabled Baghdad to get a sum of ....more
Narayanan
for labour NEW DELHI, Feb 19: President K R Narayanan today cautioned that economic reforms...more |
 |
Bring private investments DEHRADUN, Feb 19: In order to develop the core competency and generate more revenue in Uttaranchal, PHD Chamber of Commerce and Industry (PHDCCI) has asked the state to bring in private investments in the core sectors of power, tourism, education and information technology.....more M&M
launches first of BATHINDA, Feb 19: Mahindra and Mahindra Limited today announced the launch of the first of its series of new generation horizon tractors, the Mahindra ‘Arjun 605’ at Talwandi Sabo near here.......more India,
Myanmar to YANGON, Feb 19: India and Myanmar will cooperate in the energy and hydro-carbon sectors, including the supply of natural gas to India, and high-level delegations of experts from the two fields will shortly visit Myanmar for extensive discussions.....more Potassic
fertilisers are NEW DELHI, Feb 18: Unlike urea, potash and phosphatic the two decontrolled fertilisers- are becoming unaffordable for the farmers as their prices, being determined by the market forces, have registered a sharp increase over the years, says a parliamentary standing committee report. This has led to an imbalance in the use of three main ingredients of fertlisers needed for the crops .....more |
 |
|
|
V P Singh, Deve Gowda flay new economic policy MUMBAI, Feb 19: Two former Prime Ministers V P Singh and Dev Gowda flayed the economic policy of the Government and called upon the farmers and the poor to show their power unitedly so as to turn the country’s economic policies in their favour. Addressing a rally here yesterday, V P Singh said, ‘the new economic policy and globalisation have done just one thing—harmed the poor farmer, the worker and the youth through the bulldozer, unemployment and the police force’. Singh also said the Government was not interested in the welfare of the poor and asked people to organise themselves and show their power to divert the policy in their favour and break the trend of the rich getting richer and the poor poorer. On the issue of slum development, Singh, who shared the dais with former Prime Minister Deve Gowda, Janata Dal leaders Mrinal Gore and Madhu Dandavate, said that there was ample space in the city for rehabilitation. On Enron issue, he said henceforth the State Government should not sign any contract without the approval of Parliament and Union Government. Gowda and Dandavate touched upon the drastic effect the open economic policy had on the local industry and how it had only increased the number of unemployed. They highlighted how the Congress in the state had promised in its 1998 manifesto to increase number of jobs by a crore but instead have increased the retirement age from 58 to 60 and is trying to force the voluntary retirement scheme on workers. (PTI) |
|
FIEO to concentrate on Gulf region DUBAI, Feb 19: In a major bid to push the country’s exports, the Federation of Indian Export Organisations (FIEO) has decided to concentrate on the Gulf region. Addressing a press conference here, Mr Kamal Vachani, FIEO’s regional representative for the UAE and Middle East, said there was tremendous scope for Indian products and services in Gulf markets. "Indian products had always found good market acceptance in the region", he added. Mr Vachani said "India ranks among the top producers of rice, wheat, tea, coffee, spices, milk, fruits and vegetables and natural rubber in the world. We also have the world’s third largest pool of technically-trained manpower...There is no reason why we can’t make a big headqay in the Middle East markets". Mr Vachani said that in order ot provide value-added services, which is responsible for almost 75 per cent of India’s exports, would launch its own portal, containing all export-related information in addition to a database to facilitate e-commerce and increase use of information technology in international trade. He said FIEO accounted for exports worth 24 billion US dollars last year. "We have an export target of 115 billion dollars by 2007-2008", he added. Mr Vachani said FIEO did not seek any tariff protection from the Indian Government to achieve the projected level of exports after removal of quantitative restrictions on the remaining 715 tariff lines from April one. He said FIEO received as many as 500 trade inquiries at the five-day Indian trade fair, which concluded here yesterday. Ms Archana Trivedi, Assistant Director of FIEO said her organisation proposed to lay particular emphasis on the exports of computer softwares."We are also keen on increasing the exports of engineering goods", she added. (UNI) |
|
Iraqi-Syrian oil pipeline boost oil revenue WASHINGTON, Feb 19: The newly opened Iraqi-Syrian oil pipeline enabled Baghdad to get a sum of three million dollars per day for the last three months, dramatically boosting the oil revenue it gets outside the UN sanction, American media reports has said. The United States proposed to take up this issue when its Secretary of State Colin Powell visits Damascus next week as part of his week long trip to the Middle East. Oil industry analysts quoted by the Washington Post said the 552 mile pipeline which connects Iraq with Syria’s mediterranean port of Banias has been receiving 120,000 to 150,000 barrels of crude oil a day since it reopened in November last year. The latest turn over in the pipeline is estimated at 200,000 barrels a day. Iraq is offering Syria at a sharply discounted price of 15 dollars a barrel nearly fifty per cent of the market cost. This oil sale yields around three million dollars a day for Iraq. US officials have taken up this issue with their Syrian counterparts about the pipeline which was closed nearly nineteen years ago during the Iran-Iraq war. The Bush administration is encouraging Syria to bring the oil sale through the pipeline into conformity with the sanctions. The revenue accrued through the sale should be deposited in the UN account for purchase of food and medicines for the Iraqi people. The newspaper said Syria is not the only ‘offender’ as about 150,000 barrels a day of oil and diesel fuel are being smuggled from northern Iraq into Turkey aboard hundreds of trucks that ply in the border. Since Turkey provides a crucial airbase used by the American aircraft patrolling over Iraq, US officials are reluctant to take up the issue with Ankara to crack down on the lucratived trade. The US analysts said Baghad has been asking petroleum companies to pay 25 to 30 cents per barrel directly to Iraqi Government coffers, bypassing the United Nations oil for food account and giving Saddam Hussein revenue he could spend without international supervision. The UN account provides for part of the money to be transferred to Kuwait for reparations for damage done during the Iraqi invasion of the country in 1990. (UNI) |
|
Narayanan for labour reforms to push growth NEW DELHI, Feb 19: President K R Narayanan today cautioned that economic reforms aimed at achieving nine per cent growth rate could derail unless they were accompanied by judicial, administrative, educational and labour reforms. Asking both the Centre and states to adopt faster and balanced development as the "common mantra", Narayanan said Government should encourage large scale investments in labour-intensive sectors in which India commanded a significant competitive advantage. To fortify self-reliance, create more employment and remove poverty, Narayanan said, Government would encourage large scale investments in sectors like garments, light engineering, toys, handcrafts, leather and IT-enabled service. "We need to set an ambitious target of nine per cent annual growth for the next ten years to double our per capita income and halve poverty," he said. Narayan said in view of the daunting challenges faced by India in a highly competitive global market, there is growing recognition that amendments to some of the labour laws cannot be delayed any more. "These amendments are indeed pro-labour, because they will facilitate greater employment opportunities in both the organised and unorganise sectors", he said while pledging not to dilute its commitment to workers’s welfare in any way. On disinvestment front, the President said the Government has decided to divest substantial part of its equity in Indian Airlines, Air India, ITDC, IPCL, VSNL, CMC, BALCO, Hindustan Zinc and Maruti Udyog. "Where necessary strategic partners would be selected through a transparent process", he said. Stressing that power sector reforms were crucial for achieving the ambitious growth targets of the economy, Narayanan said the electricity regulatory commission both at the Centre and states would have to play a pivotal role in rationalisation of tariffs, restoration of financial health of SEBs and creation of confidence in private investors. "I urge the State Governments , all the political parties as well as employees of power utilities and consumers to support the reform in the power sector. The transition may be difficult initially, but ultimately will be rewarding for all", he said. To remove the chronic shortages in most parts of the country and to make power affordable to all, Narayanan said "we have set a target of installing additional capacity of 10,000 mws by 2012, along with the associated transmission and distribution system". He said this will require an investment of Rs 8,000 crore. Turning to railways, Narayanan said they have suffered some long years of neglect due to resource constraints and difficult financial position. An expert committee on railways has just completed a comprehensive study of the operations, organisation, finances, investments, tariff and other policy issues, he said, adding the Government will review the recommendations of this committee and initiate necessary action expeditiously. The Government is following a twin-policy to achieve growth in the coal sector which will allow private sector in coal mining and strengthen Coal India by facilitating joint ventures. Narayanan said the issue of safety in the coal mines has once again been sharply highlighted by the recent tragedy in Bagdigi near Dhanbad and modernisation should brook no delay as safety is closely linked to the modernisation and upgradation of the sector. (PTI) |
|
Bring private investments in Uttaranchal: PHDCCI DEHRADUN, Feb 19: In order to develop the core competency and generate more revenue in Uttaranchal, PHD Chamber of Commerce and Industry (PHDCCI) has asked the state to bring in private investments in the core sectors of power, tourism, education and information technology. "We have had detailed discussions with Uttaranchal Chief Minister Nityanand Swami for working in close partnership and collaboration with the PHDCCI. Our aim is to bring in private investments to boost its economy and spur its competency," PHDCCI president Sushil Ansal told reporters. "The creation of wealth based on exploiting the core competency of the state is perhaps the most challenging task before the new Government. Already the state is burdened with an accumulated debt liability of Rs 3000 crore and there is little in hand for immediate resource mobilisation," Ansal said after a PHDCCI delegation met Swami and other senior State Government officials. Avenues for generating more than Rs 400 crore annual revenue have to be explored by the Uttaranchal Government, especially by tapping unexplored areas, Ansal told Swami. He said Uttaranchal has the capacity to produce 15,000-20,000 mw of electricity by installing new hydroelectric projects with a cost of Rs 75,000 crore. "Once these projects are commissioned,the State Government can earn a revenue of Rs 6000-8000 crore per year," Ansal emphasised. "What we meant by hydro generation of power is to build small to medium size projects in the state. It will be our endeavour to bring in private including foreign investments in this sector," he said. Tourism is another area which has not been fully tapped in this picturesque Himalyan belt, he said, adding "we want to see that Uttaranchal develops into a Mini Switzerland?" in terms of tourism. Another potential area can be education in the state which can fetch huge revenue, ansal said, adding "our suggestion to the State Government is to set up an educational centre par execellence. A mini city on the lines of Oxford and Cambridge can be developed in Dehradun or elsewhere in the state," he said. He said the PHDCCI delegation which met the Chief Minister asked him to set up Software Technology Parks (STPs) in Uttaranchal. Summing up his discussions with the CM, he said the state should urge the Centre to give tax holiday incentives and set up special economic zones in the state. Another, vital point for Uttaranchal is to build up and upgrade its infrastructure like road, bridges, airports and railways so as to create a favourable atmosphere for making the state economically viable. (PTI) |
|
M&M launches first of its new generation tractor series BATHINDA, Feb 19: Mahindra and Mahindra Limited today announced the launch of the first of its series of new generation horizon tractors, the Mahindra ‘Arjun 605’ at Talwandi Sabo near here. Announcing its launch, General Manager of M and M Ltd., Girish Bapat said the Arjun 605 III was "the most advanced tractor available in its category." While handing over the keys of 151 tractors to the farmers of this area, Mr Bapat claimed this was by far the highest sale figure of tractors in a single day in Punjab. "We have developed this model to cater specifically to the needs of the progressive farmers. The tractor has undergone rigorous field tests for over 4000 hours and has surpassed all previous benchmarks of performance. This is a major step for us towards the realisation of our global vision," he added. Replying to a question, Mr Bapat said the Mahindra Arjun has an all new 60 hp engine developed with the latest technology in collaboration with AVL, Austria. "This new engine provides higher pulling power, low fuel consumption, a very low smoke level, noise reduction and smoother pick up." Arjun has been developed, specifically keeping in mind the Indian soil conditions and the varied expectations of the Indian farmer, he added. (UNI) |
|
India, Myanmar to cooperate
in energy, YANGON, Feb 19: India and Myanmar will cooperate in the energy and hydro-carbon sectors, including the supply of natural gas to India, and high-level delegations of experts from the two fields will shortly visit Myanmar for extensive discussions. In the field of hydro-carbon, the delegation will look into the possibilities of exploration at available sites being offered by the Myanmar side. Officials said India has already expressed its willingness to extend cooperation to Myanmar in the early completion of the proposed Yeywa hydro-electric project near the cultural and commercial city of Mandalay in central Myanmar. The two countries have also reviewed the progress on the proposed Tamanthi hydro-electric project near the India-Myanmar border across Nagaland and the proposed Kaladan River Navigation Project. India will be the major beneficiary of the project. They have also reviewed the progress on road and gas pipeline project in Myanmar’s Rakhine state which would provide a link to entire northeast India, particularly southern Mizoram. "India needs energy and Myanmar has enough energy potential. Therefore, cooperation between the two can be mutually beneficial and successful," said an official of the Indian Embassy here. An agreement to extend around Rs 70 crore credit to Myanmar has also been signed by the two countries. Both sides noted with satisfaction that an earlier Indian credit of Rs 46 crore was utilised by Myanmar for setting up industrial plants and for supply of railway rolling stock. The new credit line will be used for sourcing industrial and electrical equipment from India. Technical cooperation is also being pursued in selected areas taking advantage of India’s strengths in the fields. The two countries will also envisage cooperation in mapping of bio-resources, human resource development in aqua-technology and bio-technology. Work plans on science and technology and bio-technology have already been signed by the two countries last year. The work plans include cooperation in the field of science including bio-technology human resource development, scientific and medical instrumentation, information sector etc. The two countries already have bilateral cooperation in other areas including oceanography, archaeology, herbs, medicines etc. Trade between the two countries during the first eleven months of 1999-2000 increased by more than 23 per cent against a ten per cent decline in Myanmar’s global trade. India is the destination for nearly 80 per cent of Myanmar’s exports of pilses and beans and timber. (UNI) |
|
Potassic fertilisers are becoming unafforadable NEW DELHI, Feb 18: Unlike urea, potash and phosphatic the two decontrolled fertilisers- are becoming unaffordable for the farmers as their prices, being determined by the market forces, have registered a sharp increase over the years, says a parliamentary standing committee report. This has led to an imbalance in the use of three main ingredients of fertlisers needed for the crops which include urea for N, DAP (phosphatic) for ‘P’ and muriate of potash for ‘K’. The ideal ratio of 4:2:1 for N, P and K has got seriously distorted to 4.9:1.35:0.5 in 1992-93 and then to 4:1.19:0.26, says the eleventh report on demand, availability and import of potassic fertilisers. Besides this, consumption of phosphate and potash, which was growing at the rate of 10.74 and 8.38 per cent annually before they were decontrolled in 1992-93, remained stagnant till 1996-97, and thereafter went down by 20.9 per cent and 46.7 per cent respectively. The companies which are producing complex NPK fertiliser have also not played a significant role in improving the ratio consumption. The Government has also failed to achieve its declared objective of reducing the subsidy by decontrolling the potash and phosphatic fertilisers since the ad hoc concessions (another name for subsidy) for them have gone up by about 10 times over the period. In addition to this, the Government has not evolved any long-term policy to attract the industry as well as farming any plausible policy in the interests of the farmers. The urea is still a controlled fertillser whose prices have gone up from Rs 3060 per metric tonne in 1992-93 to Rs 4600 pmt in 1999-2000 (5033 per cent hike). In the same period DAP prices increased from Rs 4680 pmt to Rs 8900 pmt (90.17 per cent) and that of mop from Rs 1700 pmt to Rs 4255 pmt(150.29 per cent). Unlike urea, the committee points out, there has been no proper monitoring of supply of potash and phosphatic fertilisers in the country as the private sector is not coming forward because of lack of a long-term policy as also because the selling prices of these decontrolled fertilisers is being fixed by the State Governments. The states are, in fact, responsible for making the payment of the ‘concession’ (subsidy) to the producers and importers. Since the country does not have commercially exploitable reserves,the entire requirement of potash is met through imports. The import of mop almost doubled during the past four years from 16.27 lakh metric tonnes in 1996-97 to 29.75 lakh mts in 1999-2000. In this context,the standing committee suggested that the Government should evolve a financial package to tempt the companies to go in for joint ventures abroad for setting up units in the USA, Africa and the West Asian countries having potash reserves. At the same time, the committee asked the Government not to rely on private companies and market forces for import of potash fertilisers and suggested that the Indian Potash Limited (IPL), presently engaged in imports, be utilised to the maximum extent. The committee also took serious objection to division of various subjects relating to fertilisers between the Central Government’s departments-Department of Fertilisers under the Chemicals and Fertilisers Ministry and Department of Agriculture and Cooperation under the Agriculture Ministry. One of them regulates the imports while the other administers quality control. The committee said that matter related to fertilisers be dealt with at one place. (UNI) |
|
