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Badal
for stern action MOGA, Oct 20: Punjab Chief Minister Parkash Singh Badal has directed the State Transport Minister and Transport Commissioner to take stern action against illegal operation of illegal private buses in the state. .....more German
Remedies Q2 net MUMBAI, Oct 20: Pharma major German Remedies Limited today said its net profit in the first half of its financial year 1999-2000 was Rs 13.58 crore, up 22.6 per cent from Rs 11 crore in the same period last year. .....more NASSCOM
welcomes ADR NEW DELHI, Oct 20: The National Association of Software and ...more ST Deptt simplifies process for return, registration forms NEW DELHI, Oct 20: Aimed to collect the targeted revenue, the Sales Tax ...more |
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Gold prices dip on NEW DELHI, Oct 20: Despite persistent..more
Ambitious
house building UJJAIN, Oct 20: Union minister for Urban Employment....more Govt will take steps to implement textile policy BARODA, Oct 20: Union Textile Minister Kashiram...more Sugar dealers suspend trading to protest entry tax JAIPUR, Oct 20: Rajasthan sugar dealers today...more |
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Badal for stern action against illegal pvt buses MOGA, Oct 20: Punjab Chief Minister Parkash Singh Badal has directed the State Transport Minister and Transport Commissioner to take stern action against illegal operation of illegal private buses in the state. State Transport Minister Raghbir Singh said this while talking to mediapersons here last evening. He said that as per Chief Minister’s strict instructions all the District Transport Officers in the state and even the Regional Transport authorities had launched special campaign against plying of buses without any route permit and large number of buses had been impounded and heavy dose of fines upto Rs 7,000 were being imposed. He ruled out any possibility of increasing bus fares in the state in the wake of hike in diesel prices. Mr Raghbir Singh said that the State Government had withdrawn its recent orders empowering checking ofvehicles to all the Sub-Divisional Magistrates (SDMs) and these power were again entrusted to District Transport Officers. This was done keeping in view that SDMs were already overburdened. (UNI) |
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German Remedies Q2 net Rs 9.8 cr vs 9.3 cr yr ago MUMBAI, Oct 20: Pharma major German Remedies Limited today said its net profit in the first half of its financial year 1999-2000 was Rs 13.58 crore, up 22.6 per cent from Rs 11 crore in the same period last year. Sales in the first half were Rs 107 crore, up 11.3 per cent from Rs 96.1 crore in the previous year’s first half. The company’s net profit in the second quarter was Rs 9.8 crore, up 4.7 per cent from Rs 9.3 crore in the same period last year. Its sales in the second quarter were Rs 64.5 crore, up ten per cent from Rs 58.6 crore last year. The total expenditure in the first half increased to Rs 85.4 crore from Rs 77 crore for the period under review. The depreciation provision increased to Rs 3 crore from the Rs 2.1 crore for the half year under consideration. (UNI) |
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NASSCOM welcomes ADR listing of Satyam Infoway NEW DELHI, Oct 20: The National Association of Software and Service Companies (NASSCOM) today welcomed the ADR listing of the first internet-based company of India - Satyam Infoway - at Nasdaq yesterday. NASSCOM president Dewang Nehta who spoke at the listing ceremony of Satyam at New York expressed pride on behalf of Indian infotech industry that two companies from India have gone for IPO in 1999 at NSADAQ, the dream exchange of hi-tech companies. "We expect at least 20 more Indian infotech companies to be listed on overseas stock exchanges in the next 36 months," Mr Mehta added according to a statement released here. Mr Frank G Zarb, Chairman and CEO of the National Association of Security Dealers Inco and the Enasdaq-amed market group, said "Satyam Infoway is the latest addition to over 440 non-US based companies listed on Nasdaq which is more than any other market". (UNI) |
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ST Deptt simplifies process for return, registration forms NEW DELHI, Oct 20: Aimed to collect the targeted revenue, the Sales Tax Department has simplified the process for registration and return forms and also computerized the receipt for amendment applications. Accepting that the Sales Tax Department had failed to achieve the targeted revenue in first six months, Delhi Finance Minister Mahinder Singh Sathi today said steps were being taken to attract more tax payers. The steps include removal of multiplicity of forms, introduction of standard commodity classification and facility of early assessment, he told reporters here. When asked about the reasons for not meeting the target, he said I accept the target was not achieved. There are many reasons which include laxity on the part of Department staffers, who were not that vigilant, and ill-response of traders to the Government’s tax payment schemes. The target for current financial year is Rs 2700 crore as compared to Rs 2450 crore of previous year and only Rs 900 crore has been collected so far, City Tax Commissioner P K Tripathi said. (PTI) |
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Gold prices dip on weak global advices NEW DELHI, Oct 20: Despite persistent festival buying, both the precious metals - silver and gold - dipped on the bullion market today on weak overseas advices and closed lower. Marketmen said a weak trend in other Asian markets influenced the market sentiment whereas buying by local parties following festival season was on. They said local buying mainly checked the falling prices in the domestic market. In Asian markets, gold prices dropped to 307.75 US dollar an ounce and silver was traded lower at 523 cents an ounce. Traders said the domestic markets which reopened today after Dussehra, on a subdued note following a declining trend in overseas markets. The volume of business was satisfactory. Standard gold and ornaments lost Rs.40 each at Rs.4770 and Rs.4620 per ten gram respectively. Sovereign remained unchanged at Rs.4000 per piece of eight gram. Silver .999 (ready) dropped by Rs.110 at Rs.8050 per kilo and weekly delivery by Rs.50 at Rs.8215 per kilo on stockists selling. Silver coins, however, remained unchanged at previous level of Rs.11,200/11,400 per 100 pieces. The following were today’s quotations: Silver .999 (ready) 8050 and delivery 8215. Silver coins buyer 11,200 and seller 11,400. Standard gold 4770, ornaments 4620 and sovereign 4000. (PTI) |
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Ambitious house building prog soon: Narain UJJAIN, Oct 20: Union minister for Urban Employment and Poverty Alleviation Dr Satya Narain Jatiya has said that an ambitious house-building programme would be taken up soon to provide dwelling units for the poor. Talking to UNI here last night, he said housing, including HUDCO (Housing and Urban Development Corporation), was a part of his Ministry. Mr Jatiya was committed to implementing the national housing and habitat policy approved in June 1998 which aimed at providing 20 lakh houses annually to the poor. Of these, seven lakh are to be built in urban areas and in rural areas, through the Ministry of Rural Development. Dr Jatiya said that at the present rate the Ministry expects to largely fulfil the shelter needs of the poor within ten years. The house-building target would be achieved predominantly through HUDCO, he said and added that so far HUDCO had constructed 75 lakh homes for the poor. He indicated that his Ministry would also lay stress on private sector participation in Housing. Providing an idea about his Ministry, Dr Jatiya said Urban Employment Programmes such as the Swarn Jayanti Shahari Rrojgar Yojna (SJSRY), incorporating former Urban Poverty Alleviation schemes such as Nehru Rojgar Yojana, Urban Basic Services for the poor, Prime Minister’s Integrated Urban Programme for Eradication of Poverty and Slum Improvement Programmes fell under its domain. The SJSRY had an annual allocation of Rs 182 crore. Under it, the urban poor could be provided loans for self employment. The minister said the government had made an allocation of Rs 500 crore for development of notified slums. He was determined to implement the national slum development policy and all programmes to ameliorate the conditions of slum-dwellers. (UNI) |
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Govt will take steps to implement textile policy BARODA, Oct 20: Union Textile Minister Kashiram Rana today said the Government would take steps to implement the new textile policy after studying recommendations of the committee headed by former Textile Secretary S Sathyam. The committee, that has submitted its report to the Government, has recommended freeing textile machinery from excise duty and slashing custom duty from 27.25 per cent at present to 16.5 per cent to help the industry face global competition, Rana told PTI here. It also recommended formation of a fiscal policy for the textile sector to create a level playing field in the tax structure, increase productivity and maintain revenue neutrality. He said since Gujarat topped in textile production in the country, an apparel park was proposed to be set up that would attract huge investments and provide jobs to a large number of unemployed youths. The State Government has agreed to give about 30 acres of land for the park, likely to be set up at Surat. "This will enable setting up of about 300 units that will provide infrastructure facilities", Rana said adding that the venture would also help in earning foreign exchange. He also referred to the Rs 25,000 crore technology upgradation fund and other steps taken by the Vajpayee Government to improve the condition of the textile industry. (PTI) |
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Sugar dealers suspend trading to protest entry tax JAIPUR, Oct 20: Rajasthan sugar dealers today suspended trading in the commodity in the markets protesting against the imposition of entry tax on it, State Khadya Padarth Vyapar Sangh announced here. Trading of sugar will be suspended till October 27.If the state Government failed to withdraw the tax by then trading of sugar would be stopped for an indefinite period, Association general secretary Babu Lal Gupta said today. The decision to launch an agitation against the new tax which will increase sugar prices by Rs 52 per quintal was taken unanimously by the state executive of the association here yesterday, Gupta said. He said imposition of the new tax was a betrayal by the Government which had assured while abolishing Octroi last year that it would not be replacd by entry tax. The entry tax would only encourage corruption and make consumers suffer, Gupta said.(PTI) |
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