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| Tuesday, October 24, 2000, Chandigarh, India   
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Maruti, Honda top in JD Power index Paddy package: a
drama Punjab units hit by imports from China Tax penalties will be
reviewed, says Kalha |
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KBC has changed my life: Harsh Govt
hikes parcel, speed post rates ‘Reduce tax burden
on cement’ Haryanvi wins 1 cr
Punjab lottery prize
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Maruti, Honda top in JD Power index NEW DELHI, Oct 23 (UNI) — Maruti Udyog drove up to share the top ranking with Honda Siel Cars India (HSCI) in the JD Power India Customer Satisfaction Index (CSI) for the year 2000, while the home grown Telco was ranked lowest in the index. While Maruti improved its ranking by three index points to take the top slot, Honda Siel’s CSI score has declined by six points, a statement issued here today said. The ranking of the two companies at 115 points was four points better than the industry average of 111 points. Telco’s ranking stood at 95 points. “MUL improves consistently and it is the only manufacturer to have remained above the industry average since 1997,” Mr Chris Bonsi, Director of JD Power Asia Pacific, said. “Maruti is also the first marketshare leader to rank highest in a JD Power customer satisfaction study worldwide.” The factors determining customer satisfaction performance remain the same as in 1999. These factors are (in order of importance) problems experienced, service adviser, service performance, service timing and facility appearance. Maruti Udyog leads the industry on service adviser and service performance, two factors contributing more than 50 per cent to CSI. In comparison, Honda Siel maintains its industry-leading performance on problems experienced and service timing. Hindustan Motors (Mitsubishi division) ranks third with a CSI score of 113, followed by Hyundai Motors with a score of 112. These two round out the makes performing above the industry average. For both makes, a low number of problems experienced is an area of strength. Hindustan Motors (Mitsubishi division) records close to industry-leading performance on service adviser, while facility appearance is a strength for Hyundai. General Motors, Daewoo, Mahindra, Ford, Fait and Telco rank below the industry average in the 2000 CSI rankings, respectively. All these makes have witnessed a decline in their CSI scores compared to 1999 except General Motors, which has maintained its 1999 performance. All the makes ranking below the industry average perform poorly on the problems experienced and service performance factors, which account for more than 60 per cent of customer satisfaction. The survey includes responses from 2,348 new-cars owners of more than 20 different models representing 11 different makes. Hindustan Motors (Ambassador) has not been officially ranked due to a small sample. The CSI score for Ford is for Escort customers only. Ford Ikon customers will be eligible for the 2001 CSI study. |
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Paddy package: a
drama LUDHIANA, Oct 23 — The Rs 350 crore relief package that entails relaxing of procurement specifications to maximum eight percent of damaged, discoloured, sprouted and weeviled grains; providing Rs 100 crore as relief to farmers for distress sale of paddy by farmers between September 21 and October 14 — is being called a ‘‘drama with the economy of the state.’’ According to Dr A.S. Bhullar, a senior economist at Punjab Agricultural University, here, ‘‘The relief package provided to the farmers of the state is only a short term measure to deal with a crisis situation that has long term implications as it is likely to erupt in the coming years also.’’ He opines that long term measures have to be seriously adopted in order to cope with the problem and recommends that the quality specifications as well as the Minimum Support Prices, dates for procurement should be announced well in advance before the harvesting of the crop begins. Observes Dr Joginder Singh, Professor and Head Department of Economics and Sociology, P.A.U., ‘‘The problem of plenty and uncertainty in lifting of crop will ultimately lead to disorientation from agriculture. As a result land prices will go down as also the land rental prices will show a downfall. This will also hit investment in agriculture — leading to this sector becoming stagnant.’’ He points out that the policy outlines and procurement standards in different states should be the same. But this is not the case. Interestingly, this year the paddy crop produced in the area under Punjab was declared as unfit by the various procurement agencies, while the crop produced under the same climatic conditions in the adjoining areas falling under Haryana was not discarded on this issue. Other than this, the experts also express serious doubts about the benefits of the relief package going down to the farmers level. This year, farmers in most parts of the state had begun harvesting their crop in August itself and it had started arriving in various mandis in the first week of September — much before the announced date for the government agencies to step in for procurement. This led to a large number of farmers selling their produce at prices as less as Rs 350 to Rs 450 per quintal as against the MSP of Rs 540 per quintal. In this scenario, it was the commission agents who made the maximum profit. It is learnt that as a result of the distress sale of paddy, the commission agents pocketed a profit of Rs 50 to Rs 60 per quintal. The Vice-Chancellor of Punjab Agricultural University, Dr G.S. Kalkat, while welcoming the stipulations in the relief package about relaxing the quality specifications and purchase of paddy upto eight percent of damaged grains, feels that it is worth it only if this is restricted only to the husk. He suggests that diversification from the wheat-paddy rotation and acreage control was now the only choices for farmers. But this diversification towards cash crops will remain under a cloud until the farmers are assured a good
remunerative price. |
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Punjab units hit by imports from China JALANDHAR, Oct 23 (UNI) — A Punjab industry and trade forum’s survey has painted a grim economic scenario for the small scale industry (SSI) in the state, claiming 8,000 units have already closed and others are faced with threat of flood of import of cheap goods from China and Taiwan. The survey estimated that the small industry was working at 50 per cent of its capacity and overtime has become a thing of the past. It said the glut of Chinese and Taiwanese goods like toys, pencils, dry cells, cycles and its parts and sewing machines has threatened to doom their manufacturers, particularly in the unorganised sector. Similarly SSI units manufacturing edible oils, cycle parts, auto parts,
fasteners, ball bearings, packing materials, hoisery goods and machine tools were becoming sick, the survey added. Forum President Harish Khanna, in a letter to the Prime Minister, revealed the 80 per cent units producing edible oils in Punjab had closed and future of the remaining was bleak. He said 70 per cent of electroplating units had become sick and 50 percent of steel re-rolling mills and foundaries have closed down this year in Batala, Ludhiana and Mandi Gobindgarh. |
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Tax penalties will be
reviewed, says Kalha CHANDIGARH, Oct 23 — Industry is facing tremendous difficulties due to information collection centres (ICCs) which levy heavy penalties (50 per cent of the value of goods in case a driver by-passes
an ICC). The state government is reviewing this, said Mr. D.S. Kalha, Excise and Taxation Commissioner Punjab, at a meeting with the PHDCCI. The issue of relocating the ICCs near Mohali and roads declared as “escape routes”, would be sorted out shortly, he said. Mr Amarjit Goyal,Chairman, Punjab Committee, PHDCCI , said the current floor rates of 0,4,8,12 per cent and the demerit rate of 20 per cent are very high and the states have introduced these to raise revenue without taking into account the adverse impact on industry. Mr Gursaran Singh, Co-Chairman, Punjab Committee, PHDCCI, said that the imposition of first point tax on iron & steel, auto , tractor and combine parts, and industrial paint have adversely affected the cost of production of large manufacturers. This would lead to tax evasion and hit small scale units that depend on sale or purchase through traders. |
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KBC has changed my life: Harsh MUMBAI, Oct 23 — Sitting in his middle-class Mumbai residence, dodging a string of phone calls, a 27-year-old Indian reflects on his new-found millionaire status, admitting that life has changed considerably ever since he hit the jackpot. But Harshavardhan Nawathe, the young man from the city’s Ghatkopar suburb who was the first to make Rs 1 crore (Rs 10 million) on the hugely successful ‘Kaun Banega Crorepati (KBC) game show on STAR TV, is quick to add that his priorities still remain the same. “Yes, my life has changed after the victory on KBC. But my priorities remain the same. I will continue with my studies for the IAS (Indian Administrative Service) examination,” Nawathe told IANS. Nawathe knows only too well that if he does clear the civil services, he will end up being one of India’s richest trainee bureaucrats. After all, the 15 questions he cracked with apparent ease on the show — and to the obvious thrill of KBC host Amitabh Bachchan — have made him a millionaire celebrity overnight. When the show was telecast on Thursday last, Nawathe’s friends and relatives from all over the country flocked to their home to watch the show with the winner. More than 25 people from places as far as Indore and Jabalpur were present at the Nawathe residence. “The atmosphere was very festive,” Nawathe said. Celebrations at Ghatkopar though had begun several weeks ago, just after the episode was canned, and his news of his big win became public knowledge. News reports spoke of fireworks and dancing on the streets in the neighbourhood that’s home to Nawathe. Already, he has stopped taking telephone calls at home. All calls for Nawathe are redirected by his father, Balkrishna Nawathe, a retired police officer, to a celebrity management agency. “Models One fixes all his meetings and appointments with journalists,” the elder Nawathe tells all callers. Nawathe also has a new email address: crore@indya.com After taxes, Nawathe will be left with more than Rs 60 lakh. “The financial decision will be made by my parents...I have handed the check to my parents and will abide by their decision,” Nawathe said. He told the local Press that his father is consulting chartered accountants on investing the money. Nawathe is planning to use the money to fund his studies abroad. Right now, Nawathe’s celebrity managers are trying to book him for advertising campaigns. “We are still talking to advertising agencies, something should come up soon,” Nasreen Chivalkar, an executive with Models One, told IANS. Noted advertising photographer Atul Kasbekar has already shot pictures of Nawathe though the prize winner himself does not want to speak about it. Meanwhile, trivia hunters are targeting Nawathe. A local newspaper Web site has video-graphed his residence and put it up for viewing. Though the Rupert Murdoch-run STAR TV has been airing KBC for more than three months now, Nawathe was the first to hit the jackpot. Zee Television, STAR’s competitor, will shortly launch its own gameshow, with Rs 100 million as the prize money. But no, Nawathe won’t participate. “One crore is plenty of money. This is really good enough,” he said.
— IANS |
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Govt
hikes parcel, speed post rates NEW DELHI, Oct 23 — International Speed Post Services (EMS) and parcels will cost more from November 1, the Department of Posts announced today. The EMS rates, being revised after seven years, will be increased only marginally and the impact of the increase in the postage rates of EMS will be offset to some extent by an increase in weight content of each slab. The existing weight slabs of 200 grams and subsequent 200 grams or part thereof have been replaced by a higher slab of first 250 grams and each additional 250 gms. The EMS postage rates till now were applied on the basis of the distance involved in the transmission of mails. These were up to 500 kms and more than 5000 kms. These two categories have now been increased to eight, as a result of which the customer will get greater value for money. Under the new dispensation, EMS rates of documents for Asia, Africa, and the Middle East will be Rs 425 for the first 250 gms, and Rs 50 for additional 250 gms. For Australia, the EMS rate for the first 250 gms will be Rs 425 but the additional 250 gms will be charged at the rate of Rs 75. In the case of North America, the first slab is Rs 425 but the additional 250 gms will be charged at the rate of Rs 100. For Europe, the rate is Rs 675 for the first 250 gms and Rs 75 for the additional 250 gms; for South America it is Rs 525 for the first 250 gms and Rs 100 for additional 250 gms. The rates for Sri Lanka, Bangladesh, Pakistan, Maldives and Nepal are Rs 375 for the first 250 gms and Rs 25 for the additional 250 gms. For merchandise, the rates for Asia, Africa and the Middle East are Rs 425 for the first 250 gms and Rs 50 for the additional 250 gms; for Australia it is Rs 475 and Rs 75, respectively; for Europe Rs 725 and Rs 75, for South America Rs 575 and Rs 100; North America Rs 475 and Rs 100; and for Sri Lanka, Bangladesh, Pakistan, Maldives and Nepal the rates are Rs 425 for the first 250 gms and Rs 25 for the additional 250 gms. For the first time the rates of foreign parcels of all categories have been reduced to harmonise them with EMS rates and to boost traffic. These are now based on the quality of service provided by the department. The EMS rates are the highest followed by air, surface air lifted and surface postage rates. Another facility which will now be provided to the customers is the reduction of existing weight slabs from 1 kg to 250 gms. This is particularly beneficial for customers as they will now pay for till the next higher slab of 250 gms only instead of next 1 kg at present. The parcel air rates for Asia, Africa and the Middle East for the first 250 gms are Rs 375 and Rs 45 for each additional 250 gms; Rs 375 and Rs 65 for Australia; Rs 450 and Rs 65 for Europe; Rs 485 and Rs 90 for South America; Rs 375 and Rs 90 for North America; Rs 320 and Rs 25 for Sri Lanka and Rs 360 and Rs 25 for Pakistan. The surface rates of parcel for Asia will be Rs 360 for the first 250 gms and Rs 30 for each additional 250 gms; Africa Rs 360 and Rs 40; Middle East Rs 370 and Rs 40; Australia Rs 360 and Rs 30, Europe Rs 410 and Rs 30; South America Rs 460 and Rs 45; North America Rs 360 and Rs 40; Sri Lanka Rs 305 and Rs 20 and Pakistan Rs 340 and Rs 15. The advantage of the new rates can be gauged from the fact that a 1 kg packet which cost Rs 712 to send by air to any part of Asia will now cost Rs 510 while the packet that cost Rs 859 for North America will cost Rs 645. A 1 kg packet for Pakistan will cost Rs 435 under the revised tariff as against Rs 585 now. |
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‘Reduce tax burden
on cement’ NEW DELHI, Oct 23 — The Union Commerce and Industry Minister, Mr Murasoli Maran, today assured level-playing field for the recession-hit cement industry, asking the industry to maintain price stability and concentrate on rural areas. The industry has been pressing for duty cuts to make inroads into the price sensitive domestic market and make cement generally affordable. “Widening of the base and lowering the duty rates is what we have generally followed in our strategy of tax reforms. Needless to say that any suggestion of the industry which is consistent with the basic tenet of revenue neutrality will get our immediate nod,” the minister said, addressing the Cement Manufacturers Association here. The country has the potential to earn Rs 1,000 crore in foreign exchange by exporting eight million tonnes of cement annually once the heavy doses of taxes on cement are removed, said the President of the association, Mr M Karnani. The average tax burden on cement is as high as Rs 800 per tonne working out almost 30 per cent of the selling price of cement, he said. |
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Haryanvi wins 1 cr
Punjab lottery prize CHANDIGARH, Oct 23 — Mr Rajan Bareja of Kharkhoda village in Sonepat district received the first prize of Rs 1 crore of Punjab Rakhi Bumper-2000 at a function here today. Mr Vinod Kumar Bhalla, Director, Punjab State Lotteries, gave away prizes to the winners. Pawan Kumar of Nabha and Rachna Dhamija of Ludhiana also received the prizes of Rs 2 lakh each. Usha Bedi of Bathinda, Tekh Singh of Faridkot, Naresh Kumar of Malerkotla, Krishan Lal and Neelu Sharma of Chandigarh also received prizes. Mr Bhalla said the draw for the ongoing Maa Lakshmi Diwali & Pooja Bumper-2000 would be held on October 28 at Nehru Siddant Kendra, Ludhiana at 4 pm. The New Year Lohri Bumper, 2001 would also be introduced within a few days. |
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It’s more than just an oil Sheikh’s folly DUBAI: Did you ever feel the need to sleep in a revolving bed? Or dine in an underwater restaurant to which you’re conveyed by submarine? If so, the Burj Al Arab, recently opened on a man-made island in the Gulf, and immediately classified as the tallest, most luxurious hotel in the world, is your place. The massive four-posters which take you round and round in your sleep at a suitably soporific pace are for real. The 10-seater submarine is only virtual reality. It takes you from lobby level to one below, but, simulating the real thing, with fish peering into your porthole, it whets your appetite for the striped Gulf prawns or Iranian caviar to come. A professional travel writer said, rather snootily, that Madonna would love such a temple of gaudy excess, where all that is not gold — 2,000 sq metres (21,500 sq ft) of its surfaces are covered in 22-carat — is shining marble and mosaic, or the plushest of carpets in violent primary colours. As an engineering and architectural feat, in the recherche quality of the materials that go into it, in its often arresting use of regional themes, it’s more than just an oil sheikh’s folly. Yet it wouldn’t be Dubai if it didn’t break all the more crassly measurable records. At 321 metres (1,053ft) it is taller than the Eiffel Tower. Cost is almost certainly a record too, but one that, unlike its height, the Guinness Book of Records will not be invited to certify. The sheikhly Maktums — they of horse-racing fame — run their city-state as a family business, beneficent, but autocratic and financially none too transparent. Experts advance the figure of $1bn-plus for this and an adjoining establishment. It’s not the only hotel in the world with a helicopter to transport its guests, but the only one where you alight on a helipad, suspended like some giant soap-holder, 200 metres (656ft) above the ocean. If you come by merely terrestrial means, one of six Rolls-Royce Silver Seraphs will fetch you from the airport. You should really come by yacht. Surrounded by the sea, Burj Al Arab is linked to shore by a causeway where your ordinary Ahmad, eager for a glimpse of how the other half lives, will be turned back unless he pays a fee of $ 60, redeemable in purchases on site. A burning flame within flowing water greets you at the entrance. As you ascend to the foyer, you are flanked by glass walls, behind which exotic fish sport and, between the escalators, by a waterfall splashing down a staircase. In the world’s highest atrium, at 182 metres (597ft), a fountain is vaguely suggestive now of dolphins then of frogs, and completes its performance with a mighty ejaculation shooting halfway to the ceiling. No traditional reception desk awaits you. You go straight to your floor where your 24-hour butler guides you to your two-level, multi-roomed suite, about a dozen telephones, surround-sound plasma TV screens and dazzling array of “interactive business and entertainment tools”. Those are just the one-bedroom pads going for $ 817 a night. There are bigger, better ones. But for the revolving bed you must take a Royal Suite; and with it comes an internal escalator and boudoirs the size of most people’s living rooms. It costs $ 6,138 a night. If that seems pricey, just reflect a moment: in what establishment on Park Lane or Fifth Avenue would you get a full-scale mansion for a bagatelle like that?
— The Guardian India’s first
e-magazine NEW DELHI: A virtual magazine on entertainment has just hit the stands. Billed as
India’s first e-magazine, Virtual Magazine is meant to be a complete family entertainer replete with informative and lively sections on music, art, lifestyle, interior designing, travel, health as also a kids corner. Available in CDs, without any print edition, for Rs 100 the magazine is a fine blend of audio-visual and textual information giving the reader the liberty to pick and choose the sections of his liking. The inaugural
September issue provides the reader over 80 hours of uninterrupted infotainment - incorporating 450 pages, 70 video and 50 audio clips. The September issue carries “enduring verses” by Javed Akhtar in his own voice. The music section on A.R. Rahman and Bollywood section is finely peppered with related audio-visual clips for complete experience, says Vikas Puri, a management professional.
— PTI |
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Aptech net profit spurts by 68.61 pc MUMBAI, Oct 23 (PTI) — Aptech has posted a healthy 68.61 per cent growth in the net profit at Rs 25.35 crore for the third quarter ended September 30, 2000, as compared to Rs 15.03 crore in the same period in the previous year. Global revenues increased by 41.25 per cent to Rs 188.16 crore in the quarter as against Rs 133.20 crore in Q3 last year, Mr Atul Nishar, Chairman, told reporters here today. Asian Paints net up by 27.7 pc MUMBAI, Oct 23 (PTI) — Asian Paints Ltd today announced a 30 per cent interim dividend on the back of a 27.7 per cent growth in net profit at Rs 30.46 crore in the second quarter ended
September 30, 2000 as against Rs 23.86 crore in the same period last year. The interim dividend is on an increased equity capital arising out of bonus shares issued in May last in the ratio of 3:5. For the six months ended September 30, 2000, the company has posted a 24 per cent increase in net profit at Rs 49.01 crore as against Rs 39.51 crore in the previous financial year. Digital India clocks 86 pc revenue growth BANGALORE, (PTI) — Digital India has clocked total revenues of Rs 433.3 million for the second quarter of 2000-2001, a 86 per cent growth over the corresponding period of the last fiscal. The revenues from software exports were up by 41 per cent, while profit after tax increased by 132 per cent to 134.2 million during July-September, 2000, compared to April-June 2000, a company release said. “We have expanded our worldwide operations and further enhanced the marketing network”, President and CEO of Digital India Som Mittal said. IEC Softwares net rockets 340 per cent NEW DELHI, (PTI) — IEC Softwares on Monday announced a 340 per cent increase in the net profit to Rs 1.64 crore in the quarter ended September 30, 2000 as against Rs 37.32 lakh posted during the corresponding quarter of previous year. Sales increased 194 per cent to Rs 7.64 crore in July-September, 2000, compared to Rs 2.60 crore sales made in the same period last fiscal, a company statement said here. IEC Softwares had clinched a deal for Rs 250 crore with the Madhya Pradesh Government for one of their largest IT education projects which will cover 189 colleges and 2000 schools in the first phase. The total project is likely to cover 6,000 schools and 1,600 colleges in the state to make the students techno-savvy with computer education. |
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India bulls Band-X LIC Housing Conexant Sys LG Director Spice services |
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