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yet in fighting mood for their rights: Study JAIPUR, July 11: Even 15 years after the coming protection act, few people are approaching consumer courts for redress of their grievances, says a study conducted nationwide by a leading consumer organisation.........more Experts’ caution cotton HISAR, July 11: With the outbreak of leaf curl virus disease in certain cotton fields in the state, the .........more HP to invite bids for 9 NEW DELHI, July 11: Himachal Pradesh will soon invite bids for nine Hydroelectric Projects (HEP) ......more Iraqi oil loadings LONDON, July 11: Iraq resumed oil loadings at both its export outlets after a five-week stoppage.....more |
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Good monsoon,
farm product will spur growth: Jalan MUMBAI, July 11: Good monsoon and better agriculture production will provide a positive impetus......more LPG manufactuers NEW DELHI, July 11: The All India LPG Cylinder Manufacturers Association today criticised the ....more Manmohan Singh BANGALORE, July 11: Holding both the Central Government and Unit Trust of India (UTI)......more Economy will turn around NEW DELHI, July 11: Finance Minister Yashwant Sinha said today the economy will turn...more |
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Experts’ caution cotton growers over virus disease HISAR, July 11: With the outbreak of leaf curl virus disease in certain cotton fields in the state, the cotton experts of CCS Haryana Agricultural University here have advised the cotton growers to take all measures to control its carrier-the white fly. The virus is so deadly that it can cause a loss of over 80 per cent to cotton crop depending on the severity of the attack. According to cotton scientists, Dr M S Chauhan and Dr B P S Lather, reports on the outbreak of the disease have been received from some villages of Hisar, Fatehabad, Sirsa, Bhiwani and Jind districts. However, the disease was also seen on few plants at the research farm of the university during first week of June on cotton crop sown around April 15. They said, at this stage, the farmers should rogue the disease affected plants and weeds/alternate host plants from fields, roadsides, water channels, canal sides and apply the recommended systemic insecticides or Integrated Pest Management (IPM) technology to control the white fly. They said, in Haryana, the disease with varying intensity was first observed in some villages of sirsa district affecting cotton crop in a few acres of land. But since then it had become a serious problem and potential threat to cotton cultivation. According to the scientists, the causal agent of this disease is a plant virus (leaf curl gemini virus) and its only known vector is cotton white fly (bemisia tabaci). The virus also gets transmitted by grafting, but not by seed, soil or mechanical inoculation with sap. They said thickening leaf veins, upward cupping and curling of leaves, development of enations at the under surface were some of the typical symptoms of the disease. In case of severe attack, the plants remain stunted and stop further growth. The bolls get shrivelled with few fruiting bodies, resulting in low cotton yields. However, the losses would depend upon the variety, age of the crop when infected, proximity of crops in neighbouring fields and intercultivation. They said, the white fly can acquire the virus while in larval stage and transmits it on becoming adult. Once the virus is acquired, the insect can transmit it throughout life and the expression of the symptoms after inoculation by the vector would largely depend on the age of the plant, they said adding that the incubation, however, varied from 15-40 days. Besides other disease control and management practices, they advise the farmers to grow only resistant varieties like RS 810, RS 875, RS 2013, LHH 144, LRA 5166, H 1117, HHH 223. They said the cultivated diploid species of G. Arboreum were immune, while tetraploid species of g. Hirsutum were highly susceptible to this disease. (UNI) |
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HP to invite bids for 9 hydro electric projects NEW DELHI, July 11: Himachal Pradesh will soon invite bids for nine Hydroelectric Projects (HEP) in the state totalling 450 mw. "We will shortly advertise for nine hydroelectric projects totalling 450 mw in the state," Himachal Pradesh Chief Minister P Prem Kumar Dhumal said at the news conference called to announce commercial production of 86 mw Malana HEP, promoted by LNJ Bhilwara Group here. The nine projects include two projects of 100 mw each in Kullu and Malana districts, one 50 mw projects in Beas basin and three other projects of around 40 mw each besides a couple of small HEPs, he said. Dhumal said Himachal Pradesh had a total hydroelectric potential of 20,376 mw, out of which only 3856 mw has been harnessed. Yamuna Basin has 1049 mw of hydro power potential, Satluj Basin has 8634 mw, beas basin has 4453 mw, Ravi Basin has 2361 mw and Chenab Basin has hydro potential of 23617 mw. A three-pronged strategy has been chalked out to add at least 10,000 mw of additional installed capacity within the next 10-12 years. In the short run there is likely to be addition of 5,000 mw upto 2007 and another 5,000 mw in the next 4-5 years, he said adding work on projects totaling 6,979 mw has been started. Dhumal said the State Government has put in place a hydroelectric power policy which provides for incentives for private project investments. The State Government has also fixed the wheeling charges of energy at the rate of two per cent of the wheeled energy within the state and at the rate of 10 per cent of the energy wheeled out of the state. The units have also been allowed captive use of generated power for use of an existing/new unit in the state, he said. A policy of efficiency linked incentive has been announced in which the royalty payable to the State Government by the promoter was proportionately reduced if any project was commissioned earlier than scheduled, Dhumal said adding a 1 per cent reduction in royalty for every year caved in exeuction has acted as big incentives to the entrepreneurs. Himachal Pradesh has also made a time bound provision of acquisition of land for projects while relief and rehabilitation have also been simultaneously taken care of, he added. Dhumal said the state was offering close to 100 mw of power to Delhi from the just commission Malana project. "We have also offered to solve the drinking water crisis in Delhi through the Rs 1100 crore Yamuna river dam project which is awaiting techo-economic clearance," he said adding the project would besides providing water also generate 40 mw of electricity. Delhi Government has to firm up investment proposal for the project now, Dhumal added. (PTI) |
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Iraqi oil loadings back on track LONDON, July 11: Iraq resumed oil loadings at both its export outlets after a five-week stoppage despite lack of agreement with the UN on the price of sour crude shipments to Europe, shipping and industry sources said today. Loadings at the Gulf port of Mina Al-Bakr were proceeding at a brisk pace, with two tankers taking on oil at the same time, they said. "The loadings started at 2142 local time (1742 GMT Tuesday)," said one source. The hellespont paradise was the first tanker to proceed with the Olympia spirit shortly joining it to load with two million barrels of crude each, the sources said. In the Turkish port of Ceyhan, the Amazon Eagle which has been waiting since mid-June, was currently loading with two million barrels of sour Kirkuk crude after starting at 2300 GMT on Tuesday. It was expected to finish on Thursday, allowing sailor to take over. "We are back on track," said one shipping source referring to the resumption of Iraqi oil exports. Loadings from Ceyhan proceeded although a UN official said yesterday the UN’s in-house oil overseers did not recommend Iraq’s proposed prices for July 10-20 Kirkuk shipments to Europe. Iraq apparently proposed dated brent - 2.90, which was "20 cents below fair market value," the overseers said in a note to diplomats on the committee. The prices are to be either rejected or accepted by the committee by 1600 GMT on Wednesday. The committee recommended proposed prices of Basrah light and Kirkuk to the US and Asia. Nonetheless, a UN diplomat on Tuesday said crude shipments of Kirkuk to Europe could commence without approved prices, but no payments could be made to the u.N. Escrow account that keeps Iraqi crude revenues. The lack of agreement on prices have in the past delayed loadings. Iraq suspended oil sales for five weeks to protest the extension of its UN-administered oil-for-food programme by a month instead of the usual six as British and the US tried to gain support for a draft resolution to revamp 11-year-old sanctions against Baghdad. When Russia threatened to use a veto against the plan, the only one of 14 other security council members who did not agree to it, the Anglo-American plan was put aside for now and Iraq’s oil-for-food programme was extended for five months. Iraq signed consent to the programme on Monday, paving the way for the resumption of exports which were running at an average 2.1 million barrels per day before the stoppage. (REUTERS) |
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Good monsoon, farm product will spur growth: Jalan MUMBAI, July 11: Good monsoon and better agriculture production will provide a positive impetus to the indian economy leading to Gross Domestic Product (GDP) growth of over six per cent in this fiscal, Reserve Bank of India (RBI) Governor, Bimal Jalan, said today. The good monsoon till now and agriculture production prospects would have a positive impact on the economic growth, Jalan told reporters after making a presentation before the Joint Parliamentary Committee (JPC) here. ‘As of now, GDP rate for 2001-02 is expected to be between six and 6.5 per cent’, Jalan said. The industrial sector has been facing problems but we expect better farm sector growth to have positive effect on it, he added. Asked about the cut in the interest rate, the RBI Governor said ‘the interest rate regime would be soft and stable. Money will not be a problem’. Earlier, the Governor accompanied by Deputy Governors Y V Reddy and G P Muniappan made a presentation before the 30-member JPC probing the multi-crore stocks scam. JPC, which is on its two-day visit here, would later in the day visit National Stock Exchange (NSE) to familiarise with its working and meet NSE officials and brokers representatives. (PTI) |
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LPG manufactuers opposes open
tender NEW DELHI, July 11: The All India LPG Cylinder Manufacturers Association today criticised the recent Government decision to do away with procurement of cooking gas cylinder through authorised manufacturers and instead start purchase by open tender, saying it amounts to compromising on safety. The move compromises on safety of Indian kitchens and puts lives of millions of innocent housewives at risk, the Association said in a statement here. "The intended change is stated to be towards ‘cost-savings. However, a closer scrutiny reveals that the amendment in procurment procedures is populist in nature and may only add to public hazard," it said. The Association said that the Government has completely ignored recommendations of a recent study by cost account consultants price waterhouse coopers, which went into costing of gas-cylinders, by implementing the open tender system for procuring LPG cylinders. "Financial hardship to genuine cylinder manufacturers for the past nine months is being caused under the guise of unexplained arbitrary retrospective recoveries, which has totally crippled the cylinder manufacturing industry," the Association president B L Saboo said. He said most of the units have been compelled to close shop, rendering lakhs of people unemployed. (PTI) |
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Manmohan Singh demands
independent inquiry BANGALORE, July 11: Holding both the Central Government and Unit Trust of India (UTI) management responsible for the US-64 scheme muddle that has shaken the confidence of small investors, former Union Finance Minister Manmohan Singh today demanded an independent inquiry into the whole episode. "Obviously, something has gone wrong. It is not for me to fix responsibility. There should be an independent inquiry into all this", he told newsmen here on the sidelines of a national seminar on public finance. "The Government cannot wash its hands off the whole affair" he added. Stressing that the demand for an independent inquiry was the Congress’ stand, he declined to name the agency to probe the whole affair. The inquiry should look into why the Deepak Parikh committee recommendations were not implemented and who was responsible for the whole episode, he said. Describing the development as a "sad affair", he said if the uti had implemented the recommendations of the Deepak Parikh committee, the present situation would not have arisen. To a question, he favoured bringing all the mutual funds, including the UTI, under the jurisdiction of the Securities and Exchange Board of India (SEBI). Dr Singh said a mechanism should be found to restore the confidence of investors as the UTI was the largest mutual fund. "All these years we have been telling the small investors not to go directly to the stock market and invest in mutual funds. Now the biggest mutual fund goes this way. It will shake the people’s faith in the entire mutual fund industry. It will have implications on stock markets. I do hope the Government and the UTI management will find some way out", he added. On the alleged nexus between the stock brokers, brokerage houses and the UTI, he said the Finance Minister himself had raised the issue of insider trading. Stating that the country’s economy was "not in good shape", he said the Government had downgraded its growth projections from six per cent to 5.2 per cent and the tax receiptss were lower. "The Government should come out with a statement admitting that the things were not as what was presented in the budget. The Government is putting all these things under the carpet. This is not the way to manage a complex economy like ours", he said. On the State Governments’ role, he said they should modernise their tax system and increase tax and GDP ratio by at least one to 1.5 per cent from the present level of 5.4 per cent. The figure had stagnated for the last 20 years, he added. Dr Singh said the Government should prepare the industry to effectively face the challenges from China. Liberalisation was not a devise to desindustrialise but to strengthen the Indian industry, he added. Earlier, in his address at the seminar, he said there was a need for viable consensus on disinvestment to protect the interests of workers. There was also need for tighter privatisation, careful relook at subsidies and right sizing of the Government. A relook at budgetary finances and credible tax reforms was also required, he added. Expressing concern over increasing expenditure on current consumption on durables instead of creation of infrastructure, he said the Governments should weed out ineffective programmes and tariff managements. He paid glowing compliments to the management of the affairs in Karnataka. Karnataka Chief Minister S M Krishna demanded setting up of a committee of a few Chief Ministers with the Union Finance Minister to study the issue of public finances. (UNI) |
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Economy will turn around by end of this year: Sinha NEW DELHI, July 11: Finance Minister Yashwant Sinha said today the economy will turn around by the end of this year following measures taken by the Government in this regard even as he regretted the Income Tax Department’s inability in meeting the revenue collection target for 2000-01. "I am quite sure we will be able to ride over the problem that we have in front of us. That the economy will turn around by the end of this calender year. That things will improve. That tax realisation will go up", Sinha told the 17th All India Conference of Chief Commissioners and Directors General of Income Tax. Later Sinha told reporters that the signs of improvement of the global economy and other positive factors had led him to believe that the Indian economy will turn around by the end of december this year. He said though the interest rates have been coming down in the country, investment would take some time to pick up as it is also dependent on demand. While not fully blaming the Income Tax Department for the failture in tax realisation target and attributing it to other factors, Sinha said "quite frankly I did not expect the Central Board of Direct Taxes (CBDT) to lag behind. Revenue collections were not upto the expectation." On the projections of 6.3 per cent GDP growth made by the Centre for Monitoring of Indian Economy (CMIE), Sinha said he would not hazard a guess on the growth rate. Sinha attributed the lower GDP growth rate of 5.2 per cent compared to the estimates cent last financial year to factors such as lower international oil prices and drought in some parts of the country. On the need for widening the tax base in the country, Sinha said the Government proposed to double the number of tax assessees in the next three years. He said if this was achieved then personal income tax collections could go upto between Rs 60,000-70,000 crore, contributing to 1.5 per cent of the GDP. He said that the 1/6 scheme which makes it compulsory for people going abroad, having a car, house, membership of a reputed club, credit card or a telephone to files returns had been extended to all urban areas having a population of 5000 or more. Sinha however called on the Tax Department to make full efforts to increase the corporate tax collections which he said was lagging behind. In this respect the Finance Minister said the guidelines had already been worked out for transfer pricing and tax on perks. He defended the decision to impose tax on perks of companies saying that this amounted to a large sum of money. "There have been criticism from certain quarters but what is forgotten is that the corporates have a habit of concealing certain income by way of perks", he said. (PTI) |
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