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motorcycle sales zoom; moped and scooter skid NEW DELHI, Oct 16: Domestic car sales went into overdrive in September 2002 clocking 23.6 per cent growth with all the major companies like Maruti Udyog, Hyundai and Tata Engineering recording rise in sales......more PM
to launch BSNL LUCKNOW, Oct 16: Prime Minister Atal Bihari Vajpayee will launch the mobile phone service of Bharat Sanchar Nigam Limited (BSNL) on October 19 here.......more PNB
revises rates NEW DELHI, Oct 16: Punjab National Bank has decided to revise the rates of interest on foreign currency non-resident (banks) scheme for USD, GDP and euro deposits .....more |
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Plan formulated to harness 10,000 mw power by 2008 SHIMLA, Oct 16: Himachal Pradesh Chief Minister Prem Kumar Dhumal today said the Government had formulated an ambitious plan to harness 10,000 mw power by the year 2008 which would yield an annual income of . .......more All
income tax refunds NEW DELHI, Oct 16: All income tax refunds backlog in the country amounting to several crores of rupees will be cleared by the end of next month, Chief Commissioner of Income Tax (Delhi) Berjinder Singh said here . .....more Indian textile exporters eyeing Saudi Arabian ‘Thobe’ MKT DUBAI, Oct 16: Indian textile exporters have identified a new market segment in Saudi Arabia, which saw exports worth about 50 million..........more |
NEW DELHI, Oct 16: Domestic car sales went into overdrive in September 2002 clocking 23.6 per cent growth with all the major companies like Maruti Udyog, Hyundai and Tata Engineering recording rise in sales. Total sales rose for the fourth consecutive month to 50,426 units from 40,778 units in September last year, data compiled by the Society of Indian Automobile Manufacturers (SIAM) showed. Sales during April-September this year went up by 4.1 per cent to 2.58 lakh units from 2.48 units a year earlier. Analysts, however, said the growth in September was mainly due to increased factory despatches to dealers to cope with impending demand during the festive months of October and November rather than actual retail sales. Truck and bus sales also jumped by 22.7 per cent to 16,253 units during the month under review (13,238 units in September 2001). Cumulative sales in this segment, considered as a barometer of economic growth, soared by 30.7 per cent to 83,118 units during April-September 2002 (63,596 units a year ago). Two-wheeler sales increased by 17.7 per cent to 4.18 lakh units in September 2002 (3.55 lakh units last year) on the back of a 34 per cent rise in sale of motorcycles at 3.14 lakh units (2.34 lakh units). Cumulative two-wheeler sales surged by 24 per cent to 24 lakh units (19.3 lakh units). Scooter sales, however, dipped by 6.83 per cent to 73,250 units (78,628 units). Moped sales also dived by 27.7 per cent to 30,303 units in the month under review (41,948 units in September 2001). Cumulative moped sales slipped by 11.5 per cent to 1.75 lakh units (1.98 lakh units). Utility vehicle sales rose by 14.9 per cent to 9,895 units (8,610 units). Cumulative sales in this segment rose marginally by 1.7 per cent at 51,037 units (50,185 units). Three-wheeler sales also surged by 10.8 per cent to 19,747 units (17,809 units). Sales of three-wheelers during April-September 2003 went up by 13.3 per cent to 1.09 lakh units (96,647 units). Except the Indian arm of the US car maker general motors and luxury car manufacturer daimlerchrysler, all the players posted rise in car sales. Domestic market leader Maruti saw a rise of 12.2 per cent to 25,886 units (23,067 units). India’s second-largest car maker Hyundai recorded a whopping growth of 65.8 per cent to 10,053 units (6,061 units). Sales of Tata Engineering soared by 33.3 per cent to 7,208 units (5,405 units). Hindustan Motors posted an increase of 24.3 per cent to 2,065 units (1,660 units). Sales of Fiat and Ford India grew by 8.75 and 31.9 per cent to 1,503 and 1,519 units respectively. Honda Siel cars’ sales grew by 16.9 per cent to 1,344 units (1,149 units). However, sales of General Motors and Daimlerchrysler declined by 6.25 and 4.85 per cent to 750 and 98 units respectively. (PTI) |
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PM to launch BSNL mobile phone service on Oct 19 LUCKNOW, Oct 16: Prime Minister Atal Bihari Vajpayee will launch the mobile phone service of Bharat Sanchar Nigam Limited (BSNL) on October 19 here. According to BJP Legislature Party leader and Uttar Pradesh Minister Lalji Tandon, Mr Vajpayee will launch the BSNL mobile services in the country at a function at Raj Bhawan here in the presence of communications Minister Pramod Mahajan and other dignitaries. The PM will also inaugurate the multi-facility integrated petroleum complex near Amausi Airport, Lucknow Haat, Tourism Bhawan and several other developmental projects during his two-day visit to his Lok Sabha constituency, Mr Tandon said. Mr Vajpayee is also likely to dedicate to the Nation the Delhi-Mumbai optical fibre telecom line which has been constructed by the Grid Corporation of India. According to official sources, the Prime Minister is expected to address a press conference on October 20 morning before leaving for New Delhi. (UNI) |
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PNB revises rates on FCNR deposits NEW DELHI, Oct 16: Punjab National Bank has decided to revise the rates of interest on foreign currency non-resident (banks) scheme for USD, GDP and euro deposits with effect from October 17, this year. According to a bank release issued here today, the rate of interest on USD deposits has been revised to 1.45 per cent, 1.90 per cent and 2.35 per cent for maturities of one year to less than two years (first maturity), two years to less than three years for second maturity and three years only for the third maturity. The rate of interest on GDP deposits has also been revised to 3.70 per cent for first maturity, 3.95 per cent for second maturity and 4.15 per cent for the third maturity. The interest rates on euro deposits have also been revised to 2.80 per cent for the first maturity 2.95 per cent for the second and 3.25 per cent for the third maturity. (UNI) |
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Plan formulated to harness 10,000 mw power by 2008 SHIMLA, Oct 16: Himachal Pradesh Chief Minister Prem Kumar Dhumal today said the Government had formulated an ambitious plan to harness 10,000 mw power by the year 2008 which would yield an annual income of Rs 2,000 crore to the State exchequer. He was addressing members of the Himachal Pradesh State Electricity Board Stenographers Association here. He said though private and joint sectors were being involved in exploitation of the hydel potential but the capability of engineers and other employees of the board would be utilised fully for the purpose. Prof Dhumal lamented that no sincere efforts were made for exploiting the hydel potential state successive Governments in the past, which deprived the state from its income. He said in the last 50 years only 3,828 mw of electricity was generated in the State and out of this only 288 mw could be generated by the state electricity board whereas the present government had succeeded in starting work on hydel projects having generating capacity of 8,000 mw. These projects were likely to go in production in next 6-7 years. Out of these 2,228 mw would start generating by the next year, he added. He commanded employees of the board for doing good work in laying transmission lines in the State particularly for 86 mw malana hydel project, which was completed in less than three years. The Chief Minister said 5,690 work charged employees and 5,690 daily wage workers in the board had been regularised during the last four years. He said that demands of association would be considered sympathetically. (UNI) |
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All income tax refunds to be cleared by Nov 30 NEW DELHI, Oct 16: All income tax refunds backlog in the country amounting to several crores of rupees will be cleared by the end of next month, Chief Commissioner of Income Tax (Delhi) Berjinder Singh said here today. "The Finance Minister Jaswant Singh’s instruction for quickly clearing the backlog of income tax refund is being meticulously followed and we are hopeful of clearing them by November 30", Singh told PTI. Asked whether it was possible to clear all the returns by the end of November, 2002, as many have been pending for years, Singh said the income tax department was already on the job. Singh said in Delhi alone the income tax department has already cleared a huge chunk of refund commitments, and efforts were on to complete them soon. "Out of the Rs 1500 crore to Rs 1600 crore of refund commitment in Delhi for all categories including business and salary, we have already cleared Rs 1361 crore", Singh said. The Chief Commissioner said the Finance Ministry has also decided to issue all permanent account numbers application within 10 days of being received. "All pan applications received from November and duly completed will be issued within 10 days", he said. (PTI) |
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Indian textile exporters eyeing Saudi Arabian ‘Thobe’ MKT DUBAI, Oct 16: Indian textile exporters have identified a new market segment in Saudi Arabia, which saw exports worth about 50 million dollar last year marking a 25 per cent increase over the previous year. "We have not paid attention to the ‘Thobe’ market in Saudi Arabia, which is currently dominated by China, Taiwan, South Korea and Indonesia," Praveen Sadh, leader of the 52-member Indian textile delegation told Riyadh’s Arab News. Mr Sadh and Mr KV Mani, director and secretary of the Synthetic and Eayon Textiles Export Promotion Council, said India enjoys a competitive advantage over its rivals, since Indian textiles have been entering the Saudi market for centuries. "Saudi women, in particular, fancy Indian textiles, especially embroidered dress material, among other items. We hope to build on the goodwill factor to enter the Thobe market," Mani said. He pointed out that unlike its competitors - China, South Korea and Indonesia - whose products show a great deal of price fluctuation, India has been able to maintain its price line. When it comes to hand-painted and embroidered fabrics, he said, the country remains unsurpassed. "Of course, our prices are a bit higher than those of the other countries. But they are more than offset by the high quality and a wide measure of acceptability that our textiles enjoy," he observed. Textiles constitute over 30 per cent of Indian exports to Saudi Arabia, which is the second largest market for India after the UAE and its seventh largest market worldwide. Referring to the talks held yesterday at the Council of Saudi Chambers of Commerce and Industry, Sadh said that Saudi businessmen mooted the idea of joint ventures in the kingdom. He said Indian businessmen evinced interest in the proposal, which is still in an exploratory stage. (UNI) |
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Himachal to become power state: Dhumal MANDI, Oct 16: The ‘Apple State’ of Himachal would soon transform into ‘power state’ of the country with the commissioning of ongoing power projects with potential of 10,000 mw in next few years, Chief Minister Prem Kumar Dhumal said today. Addressing a public meeting after laying foundation of the UHL Stage-III (100 mw) hydro power project at village Machhial near Jogindernagar, 60 km from here, he said hydro power potential was the biggest resource of the state but unfortunately due attention had not been paid to this sector which could make the state financially viable and debt free. He said the previous Governments could exploit only 3828 mw power potential during past 45 years but the BJP Government initiated work on projects with 8,000 mw potential and speeded up work on mega projects like nathpa-jakhri power project and some of these projects were slated for commissioning by end of next year. He said that the state would get additional annual revenue of Rs 2000 crore after completion of projects with 10,000 mw capacity by 2010 and added that commencement of work on Parvat (2051 mw), Koldam (800 mw), Larji (126 mw) and UHL Stage-III (100 mw) were major achievements of the Government in the power sector. The Chief Minister lashed out at Congress for accusing the Government of selling the interests of the state and said that the party was unnerved by the progress made in various fields, expecially the power sector, road construction and education. (PTI) |
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