No wheat import this year: Pawar

Congestion at IGI Airport likely to ease by June end

TRAI issues consultation paper on relaxing net telephony curbs

Airtel ties up with Apple to launch iphone by year-end

Almond prices down by Rs 100

NEW DELHI, May 12: The wholesale prices of almond eased by Rs 100 a 40 kg in the national capital today on sluggish demand from stockists and retailers.

Almond california lacked necessary buying support and lost Rs 100 to Rs 8,700 a 40 kg bag and its kernel followed suit and traded lower at Rs 310-311 from Rs 312-313 a kg.

Traders said adequate stocks against sluggish demand mainly brought down almond prices.

They said retail customers were less active to buy dry fruits in view of hot weather.

Following were today's quotations per 40 kgs bag: Almond (California) new 8,700 Almond (gurbandi) 4,800 Almond (girdhi) 3,050, Almond kernel (California) 310-311 Almond kernel (gurbandi) (kg) 300-325 and Abjosh Afghani 6,000-12,000.

Chilgoza raw-new (1 kg) 385

chilgoza (roasted) (1 kg) 755

cashew kernel 1 kg (no 180) 440-450

cashew kernel (no 210) 400-410

cashew kernel no.(240) 335-340

cashew kernel (no 320) 305-315

cashew kernel broken 2 pieces 240-265

cashew kernel broken 4 pieces 205-250

cashew kernel broken 8 pieces 165-215

copra (qtl) 4,500-4,700

coconut powder (25 kg) 1,100-2,000

dry dates red (qtl) 2,000-6,000

fig 3,500-11,000

kishmish kandhari local 5,000-5,600

kishmish kandhari special 11,000-14,000 kiahmish indian yellow 2300-2800

kishmish indian green 3,200-4,200

pistachio Irani 525-550

pistachio Hairati 500-530

pistachio Peshawari 550-615

pistachio dodi (roasted) 330-340

walnut new 110-200

walnut kernel new (1kg) 350-500.

(PTI)

Bajaj, Renault-Nissan form jv to build $2500 car

NEW DELHI, May 12: Country’s leading automobile manufacturer

Bajaj Auto today said it will form a joint venture company with

Renault-Nissan to develop a low-cost car model with a wholesale

price range starting from 2,500 dollars.

The new joint-venture company will be 50 per cent owned by Bajaj Auto, 25 per cent by French Group Renault and 25 per cent by Japanese automaker Nissan.

"Targeting the growing Indian vehicle market, the new car code named ULC, will be made at an all-new plant to be constructed in Chakan, Maharashtra," a statement said.

The initial planned capacity will be 400,000 units per year and the sales will start in early 2011 in the country, as a primary market, with growth potential in other emerging markets around the world. The feasibility has already extended into Joint Product Development and the project is on line to meet targeted performance and cost, the statement added.

(UNI)

Inflation may dip to 5-5.5pc after 4 months: Rangarajan

NEW DELHI, May 12: Inflation is expected to come down to the acceptable level of 5 to 5.5 per cent after four months due to an anticipated good monsoon and measures taken by the government and Reserve Bank, Prime Minister’s Economic Advisory Council Chairman C Rangarajan said today.

"Inflation is likely to come down to 6 per cent in the next three to four months. Thereafter it can come down to 5-5.5 per cent depending upon the monsoon and other sectors," he told reporters here on the sidelines of an international tax conference.

It is not only due to monetary measures announced by the Reserve Bank, but due to other factors as well, he said.

Also, it would be due to the base effect, as inflation was rising at a slower rate at this time last year. Despite all assumptions, it would come down, he said.

"Much will depend upon the monsoon, much will depend on the way how the output behaves.. It is possible to go down to 5 to 5.5 per cent. At present, the expectations are that monsoon will be good," he said.

On the impact of fiscal measures taken by the Government to curb inflation on tax collections, he said, "There will be, of course, some impact of fiscal measures but I think it could be taken care of."

He also said the high oil crude oil prices, which have crossed 120 dollars a barrel, could slow down the GDP growth though it would not "derail" the growth process.

"I think high oil prices will have its impact (on GDP growth). It could slow down growth," he said.

"In January, the council had projected the GDP growth at 8.5 per cent, but now I would say that it could be between 8 and 8.5 per cent," Rangarajan said.

According to advance estimates of the Central Statistical Organisation, the Indian economy is expected to register 8.9 per cent growth in 2007-08.

Rating agency ICRA has projected the Indian economy to grow at a lower rate of 7.8 per cent this fiscal.

Earlier, addressing the conference, he said there was a need to "re-visit" the tax structure on oil products in view of the rising international crude oil prices.

Later, when asked about the need, he said the comment was in view of the "environmental aspect" as the taxes are imposed partly to curb oil consumption.

In 2007-08, crude oil and petroleum product imports, estimated at over USD 90 billion, accounted for 38 per cent of India’s total imports.

With oil prices rising above 120 dollars a barrel, the revenue losses of oil companies are expected to double to Rs 1,80,000 crore this year.

On review of duty structure on petroleum products, he said the council had earlier recommended an "ad-valorem" tax on oil products. Some of the suggestions have already been implemented by Finance Minister P Chidambaram in the budget, he said.

Notably, the Indian basket of crude oil has touched an all-time high of USD 117.8 per barrel , a 87 per cent jump over the last fiscal’s lowest price of USD 62.91 recorded on May 9, 2007. (PTI)

No wheat import this year: Pawar

NEW DELHI, May 12: India, which bought wheat from markets abroad for two years to feed its public distribution system, today ruled out any imports this year as food grain procurement neared 20 million tons against the targeted 15 MT.

"Though we have a target of 15 MT, we will reach 20 MT. If we reach 20 MT, import will not be required. There is no question (of import)," Agriculture and Food Minister Sharad Pawar told reporters here on the sidelines of a function organised by Confederation of Indian Industries.

The minister said his assessment of the situation was based on feedback from all State Governments and Food Corporation of India.

Wheat procurement reached 18.5 MT till Saturday last week, Pawar said at the conference.

When asked whether the Government would stop procurement after it reaches 20 MT, the Minister said procurement would continue even after that, as per the schedule.

The wheat procurement would continue till May 15 in Punjab, Haryana, Rajasthan and Madhya Pradesh, while the purchases will end by June 15 in Bihar and Uttar Pradesh.

India had to import 5.5 MT of wheat in 2006 to augment its buffer stock and manage PDS as procurement fell substantially to 9.2 MT. The Government requires 12 MT wheat for supply under the PDS.

In 2007, the country had to import 1.8 MT at a very high price as the Government could procure only 11 MT against the targeted 15 MT.

However, procurement during the current marketing season has improved substantially thanks to increased efforts of Punjab and Haryana Government, coupled with bumper crop during current and last year.

The procurement from non-traditional states like Uttar Pradesh, Rajasthan and Madhya Pradesh has also increased significantly.

India is estimated to have produced a record 76.78 MT of wheat in 2007-08 against 74.81 MT in previous year. The last high was in 1999-2000 when the country’s wheat output was 76.37 MT. (PTI)

Congestion at IGI Airport likely to ease by June end

NEW DELHI, May 12: Congestion at the IGI Airport here is likely to ease by June end with new infrastructure, including a terminal and parking places, coming up by then.

This was conveyed by the Delhi International Airport Limited (DIAL) at a meeting convened by Planning Commission Deputy Chairman Montek Singh Ahluwalia today.

"They informed us about the steps being taken to ease congestion. ... There is a difference between expanding an existing airport and building a greenfield one. At the existing airports, various systems in place are disrupted due to the expansion work. That is what is happening here," Ahluwalia told reporters after the hour-long meeting in which DIAL made a presentation on the works being carried out.

Ahluwalia said Government would have to look into two areas-the staffing of security as well as of immigration. "Government has to look into these areas. We will report back to the Government."

He said "by June-end, there should be significant improvement and in the next six months, more steps will be taken. So, before the winter this year, the problem of congestion is likely to end."

DIAL Managing Director Kiran Kumar Grandhi said "we need manpower support for security and immigration as we are handling 24 million passengers (annually) compared with a capacity of 12 million."

Giving details, he said the DIAL was "making various improvements" including commissioning the third runway by August, six months before the schedule of February next year.

Maintaining that hi-tech equipment and systems were being put in place, Grandhi said the international terminal (Terminal-2) would be refurbished by July and the new domestic terminal would be completed by November this year.

"We are also upgrading the Haj Terminal by October, soon after which the Haj operations will begin. After Haj, we will use this terminal for international operations from January 2009," he said.

The new Terminal-3, which would be an integrated terminal with a handling capacity of 34 million passengers, would come up only by 2010.

Among the equipments being positioned at the airport are six inline baggage check systems. While one of these has already been put in place, the remaining ones would be positioned by June.

This would ease the massive overcrowding at the manual x-ray machines now in place at the airport. These machines would be replaced once the inline baggage systems are in place.

The number of immigration counters are also being increased from 28 to 56 and check-in counters from 78 to 100. New parking lots and entry and exit points for vehicles were also being constructed.

Grandhi too expressed hope that before the winter season, the congestion problem would ease to a great extent.

There has been an almost 29 per cent growth in passenger traffic last year. At present, the international terminal has a capacity of five million passengers but handles eight million. (PTI)

TRAI issues consultation paper on relaxing net telephony curbs

NEW DELHI, May 12: A move that could bring down national and international telecom tariffs even further, telecom regulator TRAI today sought views from industry and experts to liberalise Internet telephony segment.

As per existing licensing provisions, there is no restriction on international PC-to-PC calls through the Internet telephony. However, Internet Service Providers (ISPs) are not permitted to have interconnection with Public Switched Telephone Network (PSTN)/Public Land Mobile Network (PLMN) exchanges to provide Internet telephony within India.

Internet Service Providers are not allowed to make calls to fixed line and mobile subscribers as they are not permitted to have interconnection with these networks to terminate Internet telephony calls within the country.

Allowing PSTN/PLMN connectivity to ISPs may provide a cheaper option to subscribers for making domestic and international long distance calls and may act as a catalyst in boosting the broadband penetration in the country. Not only this, Internet telephony within country may also boost competition in National Long distance sector, TRAI said.

Use of Internet telephony for calling PSTN/PLMN abroad has already generated competition in the International Long Distance (ILD) sector benefiting subscribers. Similar impact is expected in the National Long Distance (NLD) sector also.

However, this would require examination of certain regulatory issues like interconnection, numbering, lawful interception, emergency number dialing, Quality of Service (QoS), TRAI said.

Dilemma is that the banning such services would restrict fruits of technological advancement to reach the common masses, and permitting these services under various licenses are raising issue of non-level playing field due to different regulatory levies. In present era of convergence, technology neutrality must be hallmark of any regulatory framework, TRAI said.

Through the consultation paper TRAI is seeking views on the need and timing to liberalise present regulatory restriction as applicable to Internet telephony in existing ISP licensing regime.

The issues on which it has sought opinion are-permitting ISPs to provide Internet telephony to call PSTN/PLMN to subscribers within the country, numbering issues, emergency number dialing, effective monitoring and lawful interception, issues related to interoperability, standardisation and QoS.

It also seeks views on interconnection with PSTN/PLMN including applicability of present IUC regime. The last date for receiving comments on the paper is June 9. (PTI)

Airtel ties up with Apple to launch iphone by year-end

NEW DELHI, May 12: India’s largest mobile operator Bharti Airtel today announced a tie-up with US-based Apple Inc to bring the popular GSM-based iphone in the country.

"Bharti Airtel has signed a deal with apple to bring the Iphone to India later this year," the Telco said in a statement.

Sources, however, said that Airtel may start offering Iphones around Diwali festival to its over 65 million GSM-based subscribers.

Asked about the prices, they declined to give any details about the agreement, the company entered into with Apple Inc.

But in the grey market the devices are available in the range of 500 to 600 dollars (about Rs 25,000), sources said, adding that these handsets procured from the grey market need to be unlocked.

Airtel’s announcement comes on the heels of world’s largest mobile phone operator Vodafone announcing last week to distribute iphones worldwide including India.

Iphone is a mobile phone that allows its users to make calls by simply tapping a name or number in the address book. It leads the customers to select and listen to voice-mail messages in whatever order the consumer wants. (PTI)