 |
|
| Govt securities worth Rs 68,000 cr to be auctioned MUMBAI, Mar 27: The Centre has plans to auction long-term Government bonds ranging from 10-20.....more Use
of Internet for exploring markets Excelsior Correspondent JAMMU, Mar 27: National Institute of Agriculture Marketing (NIAM) will assist Jammu and Kashmir State in developing the ON LINE.....more BT variety to boost NEW DELHI, Mar 27: Environmentalists are crying foul, however, industry....more Railways give short shrift to NEW DELHI, Mar 27: Comptroller and Auditor General of India (CAG) has criticised the Railway....more |
 |
Birla VXLrecords Rs 51 crore loss KOLKATA, Mar 27: Birla VXL Ltd incurred a net loss of Rs 51.24 crore in the financial year ended December 31, 2001. The Company’s Board which met here yesterday took on record the results for the year ended December 2001.......more NTPC may impose harsh PATNA, Mar 27: National Thermal Power Corporation (NTPC) has said it might impose harsh measure on the Bihar......more Rolta records 16.1 KOLKATA, Mar 27: Rolta India Ltd registered a significant growth of 16.1 per cent in the net profit....more TN budget proposes CHENNAI, Mar 27: A harsh budget imposing taxes to the tune of Rs 690 crore was today presented in the Tamil Nadu Assembly by the Finance Minister C Ponnaiyan. ....more |
|
|
Govt securities worth Rs 68,000 cr to be auctioned MUMBAI, Mar 27: The Centre has plans to auction long-term Government bonds ranging from 10-20 years for raising resources upto Rs 68,000 crore in the first six months of the new fiscal year. According to a calendar provided by the Reserve Bank of India (RBI) for 2002-2003, the Government will issue debt securities of Rs 13,000 in April, Rs 18,000 crore in May, Rs 6,000 in June, Rs 7,000 in July, Rs 16,000 in August and Rs 8,000 crore in September, 2002. The advance notice was issued to enable institutional and retail investors to plan their investment in a better manner and also provide further transparency and stability in the Government securities market, RBI said in a release. However, the calendar is subject to variations depending on market conditions and other factors, it said. In addition to the proposed issuances, RBI will have the flexibility to issue additional Government securities as per emerging requirements of the Government and market conditions, the release added. (UNI) |
|
 |
|
Use of Internet for
exploring markets Excelsior Correspondent JAMMU, Mar 27: National Institute of Agriculture Marketing (NIAM) will assist Jammu and Kashmir State in developing the ON LINE MARKET INFORMATION SYSTEM to benefit the State fruit growers and traders through Internet facility. Under the scheme, the Fruit and Vegetable markets of Nowpora Sopore, Parimpora Srinagar and Narwal Jammu would be connected through a ‘SERVER’ with the country’s 20 regulated markets for quick dissemination of market intelligence and regulation of supplies to the advantage of the State fruit growers, traders, exporters, importers and others connected with the trade. This was Stated by Director General, NIAM, Mr V Ramanathan at a meeting with State officers here today. Principal Secretary, Agriculture Production Mr Mohammed Shafi Pandit was in the chair. It was also decided to establish a separate web-site to gather all necessary information on Jammu and Kashmir fruits, covering quality aspects for product popularity to promote sales in domestic markets and exports outside. Mr Pandit said that schemes and programmes of the Central Government, autonomous bodies and the State agencies related to Agriculture Marketing Development would be made available on the web site. He said the National Institute of Agriculture Marketing would also impart training to farmers, trainers and departmental officers on various aspects including computer application and awareness, post-production management, construction and use of on-farm cool stores, exports, grading and packing. Fresh recruits of the department will also be given induction training at NIAM, Jaipur so as to upgrade their skill to apply management techniques in fruit marketing. The Jammu and Kashmir Government, in collaboration with NIAM, is formulating projects on integrated pack-house, tetra juice making unit, support price to low grade fruit under Market Intervention Scheme, Mr. Shafi added. For ensuring trade transparency, the National Institute of Marketing, in consultation with APMC, would design and operationalize the electronic auction facility at Azadpur Delhi on demonstrative basis during the current season, the meeting decided. Mr Ramanathan said that the NIAM would prepare project reports for further development of fruit and vegetable markets at Nowpora, Sopore, Parimpora Srinagar and Narwal Jammu with financial assistance from NABARD, Central and State Government. Director, Horticulture Planning and Marketing, Mr B L Bhat and Deputy Director, NIAM, Mr J S Yadav were among others present in the meeting. |
|
BT variety to boost India’s cotton output to 200 lakh bales NEW DELHI, Mar 27: Environmentalists are crying foul, however, industry is enthusiastic over the clearance given to cultivation of Bacillus Thurengensis (BT) cotton and expect to get a major boost in the production from the current year’s estimated 155 lakh bales. Market sources said if new seeds are adopted on a large scale, India’s annual production will easily cross 200 lakh bales of 170 kg each in the coming years. This is significant as demand is pegged to rise to 217 lakh bales by the end of 10th five year plan. "Depending on the quantum of shift in acreage to bt cotton, there will be a definite increase in cotton production in the next two years on account of higher yield, bollworm resistance and reduced expenditure on pesticides," Chairman, Indian Cotton Mills Federation, Rajaram Jaipuria, told PTI. There is a 30 per cent increase in yield expected from the new seeds which though insignificant when placed in the context of the miserably low productivity of an average 300 kg per hectare in India, will nevertheless boost production. A one-third rise in yield from 300 kg to 400 kg per hectare carries little weight when compared to astronomically high yields of 800-1500 kg per hectare elsewhere. However, more importantly the resistance to bollworm attack and lesser expenditure on pesticides will ensure better returns to the farmers. As Bhartiya Kisan Union president Bhupinder Singh Mann said this will encourage farmers to get out of the wheat rice cycle and cultivate more of cotton. Jaipuria said proper cultivation, ginning and processing of BT cotton, to prevent contamination, will scale down imports from the current 20 lakh bales. (PTI) |
|
Railways give short shrift to signalling and telecom: CAG NEW DELHI, Mar 27: Comptroller and Auditor General of India (CAG) has criticised the Railway Ministry for not according "necessary importance" to the modernisation of Signalling and Telecom (S&T) systems that are needed for better operational safety and expanded line capacity. CAG’s report for 2000-01 says that despite the fact that the Parliament’s standing committee had said in 1996 that modernisation of S&T should the "thrust area for investment in the 9th plan period", the allocation for S&T between 1996-97 and 2000-01 was only Rs 1482.02 crore, a mere 2.55 per cent of the total allocation of Rs 58010.96 crore for nine zonal railways. The report says that modernisation of points and signals through Panel Interlocking (PI), Route Relay Interlocking (RRI) and Solid State Interlocking (SSI) had not been completed. "Out of 5244 signalling stations, only 1812, 180 and 13 stations were provided with PI, RRI and SSI respectively. And 3093 stations were still being operated mechanically," says CAG. It says "in 431 out of 1075 stations on "A" route, points and signals are still being operated through mechanical means." The report says that out of 6746.73 route km, automatic signalling was in use only for 560.34 route km on "A" route, and work was in progress on 170 route km. "No concrete steps had been taken to introduce modern signalling system on the remaining 6016.39 route km of the "A" route," CAG says. The CAG’s review for the five year period from 1996-97 to 2000-01 covers such areas as planning, investment decisions, allotment and utilisation of funds, implementation of works and performance of systems relating to modernisation of signalling and telecommunications. In 523 sections on the "A" route covering 3807.40 route km of five zonal railways, where utilisation of line capacity is more than 100 per cent, automatic block signalling has not been provided to de-congest the traffic, the CAG report says. While Rs 761.34 crore was sanctioned during the review period for adding a third line in eight sections on three zonal railways, "the line capacity increase could have been achieved by provision of automatic block signalling at an estimated cost of Rs 61.42 crore," the report says. CAG says the Khanna Accidents Enquiry Committee had recommended in 1998 that block proving axle counters be installed on "A" route within a time-frame of three years. However, only on four zonal railways - central, northern, south-eastern and western - 210 block proving axle counters, covering 867.52 route km on the "A" route had been installed till 31st March 2001, says cag, adding that even before the provision of axle counters on the "A" routes, 418 axle counters were provided at rs 20.75 crore in other than "A" routes. (PTI) |
|
Birla VXL records Rs 51 crore loss KOLKATA, Mar 27: Birla VXL Ltd incurred a net loss of Rs 51.24 crore in the financial year ended December 31, 2001. The Company’s Board which met here yesterday took on record the results for the year ended December 2001. Net sales were at Rs 247.89 crore as compared to Rs 385.54 crore achieved in the previous year. Other income was at Rs 6.32 crore in the year ended December 2001 as against Rs 19.39 crore in the previous year. Total expenditure was at Rs 237.06 crore as compared to Rs 19.39 crore in the previous year. After accounting for the Rs 24.82 crore as interest and financial charges, loss before depreciation and tax stood at Rs 7.67 crore as against Rs 74.56 crore registered in the last year. Depreciation stood at Rs 28.64 crore as compared to Rs 29.93 crore in the previous year. The company has a paid up equity share capital of Rs 65.09 crore. The net loss was at Rs 148.06 crore in the eighteen month period ended December 2000. Company sources said the figures were not comparable with those of the previous figure since it had eighteen months. However, the results at the operating level show an improvement over the previous year, despite difficult market conditions, company sources added. (UNI) |
|
NTPC may impose harsh measure on Bihar PATNA, Mar 27: National Thermal Power Corporation (NTPC) has said it might impose harsh measure on the Bihar if the state fails to clear its dues running into several crores of rupees. "A harsh major like regulating the power supply to the state might have to be imposed on Bihar State Electricity Board if the situation as regards liquidation of arrears did not improve," ntpc Executive Director- eastern region Balmiki Prasad said. Mr Prasad said Bihar State Electricity Board (BSEB) owes Rs 2,222.78 crore to NTPC as on February 28 last, while the Board was paying Rs 22 crore per month against a monthly billing of Rs 62.3 crore. At a press conference here last evening, Mr Prasad also dismissed as ‘unfounded and baseless’ Bihar Government’s contention that the corporation is responsible for the present power crises in the state. He, however, added, "against a projected power requirement of 407 mw, Bihar was now drawing around 600 mw from NTPC." he also said that at present power supply had not been regulated to Bihar for non-payment of bills by BSEB. Reacting to the state’s demand for additional supply of 150mw power, he said NTPC would meet the demand only after payment was made against such supply, he clarified. He said similar demands had been received from West Bengal and Damodar Valley Corporation (DVC) and both the consumers had been told to ensure payment before commencement of supply, he added. NTPC has regulated the power supply to Orissa as the state failed to arrive at an agreement with the NTPC over the payment schedule. Referring to the announcement of Union Energy Minister Suresh P Prabhu asking NTPC to regulate power supply to defaulting states, he said that uniform action would be taken as and when decisions were taken on the policy matter at corporate level. Mr Prasad held the Bihar Government responsible for the present power crisis saying that power generation in BSEB power stations was low in the recent past and total generation by BSEB units did not exceed 45mw. The NTPC eastern region chief said that the Corporation was now supplying power to the constituent states in the region from three major generating stations with a total installed capacity of 2440mw, comprising Farakka with 1100mw capacity, Kahalgaon-840mw and Talcher Kaniha-500mw. Two units at Farakka and one unit at Talcher Kaniha were not operating following some technical snags, he added. He, however, expressed the hope that the generating capacity of NTPC in the eastern region would further improve after completion of modernisation and renovation of age old and obsolete machineries in Talcher Kaniha Station by 2003. Mr Prasad pointed out that for settlement of outstanding of Central Public Sector Undertakings, the Centre had constituted a committee, headed by Montek Singh Ahulwalia. The committee had recommended for a tripartite agreement among the Centre, State Government and Reserve Bank of India for securitisation of outstanding dues and for full payment of monthly bills. He regretted that despite rigorous follow up by NTPC, West Bengal is the only state in the eastern region to enter into such tripartite agreement. (UNI) |
|
Rolta records 16.1 per cent growth in profit after tax KOLKATA, Mar 27: Rolta India Ltd registered a significant growth of 16.1 per cent in the net profit for the financial year, ended December 31, 2001, at Rs 105.46 crore as compared to Rs 90.86 crore in the corresponding period last year. The Earning Per Share (EPS) showed a healthy growth of 12.2 per cent to Rs 16.60 as against Rs 14.80 achieved last year. Profit before depreciation and tax for 2001 stayed at Rs 151 crore reflecting a growth of 24.3 per cent over the earlier year’s figure of Rs 121.49 crore. Total income in 2001 was Rs 301.46 crore over last year’s figure of Rs 254.87 crore, recording an increase of 18.3 per cent. Net worth of the company showed an increase and stood at Rs 360.9 crore, signifying its intrinsic strength, company sources said. The Board of Directors recommended a higher dividend of 30 per cent as compared to 27.5 per cent paid last year. The knowledge-based software and information technology major was able to meet customer needs effectively during the year after expanding its operations nationally and internationally and offerig new areas of service to them, sources added. (UNI) |
|
TN budget proposes Rs 690 crore taxes CHENNAI, Mar 27: A harsh budget imposing taxes to the tune of Rs 690 crore was today presented in the Tamil Nadu Assembly by the Finance Minister C Ponnaiyan. After the proposed taxes, the overall deficit was expected to be 640.24 crore. A two per cent sales tax on rice and wheat is sought to be imposed while jaggery, pepper, pulses and grams will attract a four per cent tax. However, rice and wheat supplied in PDS would be exempted from the proposed sales tax, Ponnaiyan said. The Government has decided to discontinue the sale of cheap liquor, introduced in Jan one last, from April 14. It has decided to permit opening of bars in corporations, municipalities and town panchayat areas, the Finance Minister said. The Government has decided to levy entry tax on motor spirit lubricating oil, bitumen, aluminium, PVC pipes, marbles, granites and ceramic tiles, sanitarywares, wheat products, newsprints, paper and paper board, iron and steel and compressor, parts and accessories of airconditioners and refigerators. An across-the-board levy of an infrastructure surcharge of five per cent on sales tax on all items except rice, wheat, kerosene, LPG and other declared goods has been proposed by the Finance Minister, who also announced a tax reform and revenue augmentation commision under the chairmanship of renowned economist Dr Raja R Chelliah. (PTI) |
|
|