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Tractor Excelsior Correspondent JAMMU, May 8: Mahindra Gujarat Tractor Ltd today formally launched a new model M G 405, 40 HP tractor at their All India Dealers Meet. .......more FDI
inflows increase NEW DELHI, May 8: The continuing recession does not seem to be impacting foreign investor confidence with FDI inflows increasing by 93 per.....more India
to get Rs 20,000 DEHRADUN, May 8: India would receive a loan of Rs 20,000 crore from the World Bank and Asian Development Bank .....more |
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Industry-friendly policy DEHRA DUN, May 8: A comprehensive industrial policy keeping in view the hill areas of Uttaranchal will soon be finalised by the State Government,....more ITAT
proposes steps to NEW DELHI, May 8: The Income Tax Appellate Tribunal (ITAT) has proposed to take several steps to reduce the pendency of cases such as........more Senators
warn Bush WASHINGTON, May 8: A bipartisan group of senators has warned President George W Bush against any international trade agreement that would .....more |
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FDI inflows increase 93pc during Jan-Feb NEW DELHI, May 8: The continuing recession does not seem to be impacting foreign investor confidence with FDI inflows increasing by 93 per cent at Rs 3,469 crore during the first two months of 2001 compared to Rs 1,799 crore last year. The FDI inflows accounted for 47 per cent of the total FDI approvals of Rs 5,123 crore granted by the Government during the first two months of 2001. FDI approvals during the period January-February 2001 also more than doubled over the Rs 2,906 crore approved in the corresponding period in 2000. Of the total FDI approvals, a lion’s share of almost 90 per cent was accounted for by the clearances given by the Foreign Investment Promotion Board (FIPB) which approved investments worth Rs 4,605 crore. This trend was similar to that of last year when Rs 2,780 crore of the total FDI approvals was accounted for by the FIPB. While the value of the FDI during the first two months of the calender year increased, the number of FDI cases approved, in fact, came down marginally from 286 cases during January-February 2000 to 279 cases this year. However, the number of Global Depository Receipts (GDRs) approvals given during the first two months of the calender year declined from six last year to one in 2001. The number of cases for foreign investment declined from 286 last year to 279 during the first two months in 2001 while the number of foreign technology agreements increased from 37 in 2000 to 70 cases in January-February 2001. (PTI) |
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India to get Rs 20,000 crore for national highway DEHRADUN, May 8: India would receive a loan of Rs 20,000 crore from the World Bank and Asian Development Bank (ADB) for part-financing the Rs 54,000 crore National Highway Development Programme (NHDP), Union Transport and Highway Minister B C Khanduri has said. The rest of the amount would be generated through the rupee one cess on diesel and petrol and market borrowings, Khanduri told reporters here. "We have the second largest road network after the US. And our efforts is to complete the NHDP by 2007," he said. Pointing out that India has 33 lakh km long roads and highways, the minister said for their maintenance, India would need an amount of Rs 1,65,000 crore every year. He said his ministry has taken up a project to widen Dehradun-Delhi national highway. "My ministry has allocated Rs 1.25 crore this year for holding preliminary study in this regard," he said. Referring to Uttaranchal, the minister said the Highway Ministry has allocated Rs 100 crore to the newly born state this year for constructing new roads and bridges. Out of the Rs 100 crore, an amount of Rs 60 crore has been kept apart for constructing rural roads in the state, he said. (PTI) |
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Industry-friendly policy for Uttaranchal soon DEHRA DUN, May 8: A comprehensive industrial policy keeping in view the hill areas of Uttaranchal will soon be finalised by the State Government, said Industry Minister Kedar Singh Fonia here today. Answering a question put up by Mr Harbans Kapoor, BJP MLA, in the Assembly during question hour this morning, Mr Fonia said that Uttaranchal’s industrial policy, to be declared within ten to fifteen days, would be extremely "industry-friendly", specially for forest-based industries. Mr Nityanand Swami, leader of the house, in response to a request by Dr Indira Hridyesh, CLP chairperson, said that views of all members of the house would be taken into account while finalising the state’s industrial policy. Mr Harbans Kapoor had asked Mr Fonia whether any industrial policy for the state was in the offing. Environment friendly industries like herb-based, forest-based and woolen-based industries would be modernised in the state to boost the economy of the hill, Mr Fonia said. Raising a question about the distribution of assets of power corporation between UP and Uttaranchal by Ms Indra Hridyesh of Congress, Mr Bhagat Singh Koshiyari said that the UP Government has given the ownership of certain assets to Uttaranchal in the power sector. The talks are on with the UP Government. Mr Ambrish Kumar of Samajwadi Party questioned the Chief Minister about a statement made by him in Haridwar that the Uttaranchal Government would ask the Prime Minister to review the Tehri Dam. The Chief Minister denied that he had made any such statement. After this Mr Ram Singh Saini of Samajwadi Party and Qazi Moiudeen of BJP said that they were also present in Haridwar when the Chief Minister made this statement. The Chief Minister said that the State Government had no plans to review the Tehri Dam project. (UNI) |
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ITAT proposes steps to reduce pendency of cases NEW DELHI, May 8: The Income Tax Appellate Tribunal (ITAT) has proposed to take several steps to reduce the pendency of cases such as identification of cases involving issues already settled by High Courts and Supreme Court, grouping of cases involving common issues, organising camp benches at places where there is no bench, sending members on tours to stations where there is shortage of members. The ITAT already has several measures for reducing backlog of including opening of 15 new benches and enhancing the limit from Rs one lakh to Rs five lakhs to be heard by a member. The ITAT hoped that these measures would result in early settlement of pending cases.The tribunal has disposed off 74,940 cases om 1999-2000 as against 50,213 cases in the previous year. As a result, the pendency of cases with ITAT as on March 31, 2001 dropped to 2,44,320 as against more than 2.82 lakhs at the end of previous year. (UNI) |
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Senators warn Bush against weakening US trade laws WASHINGTON, May 8: A bipartisan group of senators has warned President George W Bush against any international trade agreement that would weaken US trade laws. Sixty-one senators, including 12 from Bush’s Republican Party, registered their protest in a letter to the President. The senators led by Max Baucus, the highest ranking democrat on the Finance Committee, said they would oppose any international trade agreement that weakens US anti-dumping and host of other trade laws. Trade Ministers from the WTO failed to launch a new multilateral round during their meeting in Seattle in 1999 partly due to differences over anti-dumping measures. The issue has become urgent because Bush wants "fast track" authority to enter into negotiations with other countries on trade. Under "fast track", the administration is empowered to sign trade agreements that Congress can either approve or reject but not amend. The senators said they would oppose "fast track" unless they receive an assurance from Bush that the agreements he negotiates will conform to the US laws. The protectionist laws they want protected in any trade agreement enable the US to slap punitive duties on imports deemed unfairly subsidised by foreign governments or to have sold in the American market at dumping prices. "If the President truly wants to win Congressional support for fast track, he should make a statement in support of these laws and communicate this directly to his staff and to US trading partners," Baucus said. (PTI) |
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