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Sunday,
March 31, 2002, Chandigarh, India  
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BSNL
notifies lower STD and ISD rates Food
subsidy raised at Rs 21,200 crore Enron
wants to pay retention bonuses Exim
Policy to be unveiled today SEBI
issues directives to exchanges Petrol,
diesel retail prices to be decided today |
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Implementation
of ST laws in Punjab? BoP
opens branches
PGCIL
test-charged Mani Majra project
Air
Force looking for new aircraft for VVIPs
Petty
offence
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BSNL notifies lower STD and ISD rates
New Delhi, March 30 In the ISD segment, BSNL has reduced the tariff by way of enhancing pulse rate. For the peak hour the pulse rate has been increased to 3.3 seconds from the existing 2.8 for SAARC and other neighbouring countries, while that for countries in Africa, Europe, Gulf, Asia and Ocenia has been hiked to 2.3 from the existing pulse rate of 1.8 seconds. Enhancing the pulse rate would mean reduced tariff for customers because the call meter would now change after a longer duration as notified by BSNL. New rates would be effective from April 1, 2002. Similarly, for all countries in American continent and other places in Western Hemisphere, the reduction in tariff through enhanced pulse rate has been changed to 1.8 seconds from the existing 1.5 seconds. For the off-peak rates for the above mentioned categories the new pulse rates have been notified as 3.8 (3.3 earlier), 2.6 (2.1 earlier) and 2.0 (1.7 earlier) respectively. The peak hours for the USA and all other countries in the category are 6 am to 11 am and 6 pm to 12 midnight. For the European countries, the peak hours have been fixed between 11 am to 10 pm while for the rest of the countries this slab is 8 am to 7 pm. On Sundays and national holidays (26th January, 15th of August and 2nd October) all 24 hours would be considered as off-peak hours, BSNL said in a statement here.
PTI
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Food subsidy raised at Rs 21,200 crore
New Delhi, March 30 This excludes sugar subsidy. A provision of Rs 13,670 crore for food subsidy was initially made in Budget estimates for 2001-02 on the basis of issue prices and economic cost for wheat and rice as on April 1, 2001. This also included a provision of Rs 5, 979 crore as buffer subsidy, according to the Annual Report of the Department of Food and Public Distribution for 2001-02. The quantum of food subsidy depends on the level of procurement of foodgrain and off-take under the Targeted Public Distribution System and other welfare schemes. An increase in procurement on account of attractive Minimum Support Prices (MSPs) coupled with low offtake in 2001-02 contributed to a rise in the buffer stocks of foodgrain. The upward movement of buffer subsidy also partly led to an increase in carrying cost per tonne. The cost also rose due to an increased interest on account of a rise in MSP, carry-over charges payable to Punjab and Haryana and storage cost.
UNI
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Enron wants to pay retention bonuses
New York, March 30 It also sought payment for the legal expenses of current executives and board members. Part of the plan would allow the company to pay up to $ 90 million in bonuses to hundreds of senior managers and employee working on asset sales. The payments would be funded with a small portion of the cash they collect from those sales Additional retention bonuses of up to $ 40 million would be paid to others involved in day-to-day operations. “Otherwise, they have little or no reason to defer finding new jobs.” For people now working at Enron but who might be laid off, the company is proposing a new severance package that would be based on years of service, with a maximum of eight weeks base pay and a minimum of $ 4,500. Total severance would not exceed $ 7 million. Enron has cut about 4,500 workers since December 2, when it filed for protection from creditors under bankruptcy law.
AP
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Exim Policy to be unveiled today New Delhi, March 30 The first Exim Policy after the dismantling of the Quantitative Restrictions (QR) regime last year, the thrust of the policy would be on defining the broad contours of export orientation strategy facilitating a smooth integration with the global economy. Among other things, the sops given to SEZs could be continued and in some cases it might be extended further to attract more investment. The Exim Policy comes closely on the heels of Medium-term Export Strategy which has set an ambitious target of increasing India’s export share to one per cent of world trade. The roadmap laid down in the Medium-term Export Strategy has called for achieving 12 per cent average growth rate by assigning a larger role to state governments. SEZs, in particular, could receive a boost in form of more tax sops. The Exim Policy could extend the time period for tax holiday to developers from 10 to 15 years. It was also likely that the government may allow sale of goods from SEZs to the Direct Tariff Areas (DTAs) upon payment of 50 per cent duty for at least first five years as is the case with goods sold by EPZs. To promote agriculture exports, it has been pointed out that it was important to lay down a clear time-table for phasing-out of all forms of export subsidies and for reductions of trade distorting domestic support in developed world. The Exim Policy is expected to incorporate several of the recommendations made by the high-level 12 member Exim Policy Committee headed by former Commerce Secretary P.P. Prabhu. The Duty Entitlement Passbook Scheme (DEPB) is unlikely to get discontinued, even though it is not WTO compatible, as it is widely perceived that the extension of the incentive scheme is all the more important given the global recessionary trends. In fact, the Committee had recommended the removal of all restrictions on movement, storage and export of agricultural products and has suggested a rate of three per cent under the DEPB scheme to promote packaged product exports. Mr Maran is also likely to address the issue of procedural bottlenecks in order to make exports more hassle-free. Presently, the payments on export of goods under Duty Drawback are not made immediately. It has been a long-standing demand of the exporting community that the withdrawal process be simplified to expedite duty drawback refund on export of goods. Moreover, exporters have demanded that clearance of goods through self-certification should be allowed and the interest rate on export finance need to be lowered considerably so as to bring it in line with that of other competing countries.
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SEBI issues directives to exchanges
Mumbai, March 30 In a circular that includes clarifications on certain contentious areas, SEBI yesterday issued a directive to all stock exchanges and brokers to pay registration fees to the board. The market regulator has asked brokers to pay upfront at least 50 per cent of the fees payable and the balance within two years along with the interest of 15 per cent. Brokers have also been asked to give an undertaking in the prescribed format for payment of turnover fees and furnish the details of various components of turnover as per amended regulations duly certified by auditors and confirmed by the
exchanges. UNI
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Petrol, diesel retail prices to be decided today
Mumbai, March 30 Oil companies have conveyed to petrol dealers that the post-administered pricing mechanism for retail prices of transport fuel would be made known tomorrow evening. President of Petrol Dealers’ Association, Ravi Shinde, told UNI, "Oil companies have informed us that their pricing committees would be meeting on Sunday, March 31 to decide on the retail prices effective April 1, 2002." The pricing controls on petroleum products will be lifted at the stroke of midnight of March 31, ending the APM regime introduced on December 16, 1977. Oil sector analysts say there could be an increase in prices of transport fuel from April 1, given the rise in international crude prices. Also there is a possibility of prices announced being different in coastal and interior areas to account for the differential in transport costs, they said. They say Petroleum and Natural Gas Minister Ram Naik’s statement that price stability would be maintained till a regulatory framework was in place, does not imply that prices would not be increased. The statement only means that there won’t be volatility in prices of petrol and diesel till the government sets up a regulatory body, the analysts said. This view is further strengthened by Naik’s assertion on Friday that the government had not issued any direction to the public sector oil companies to maintain petrol and diesel prices at current levels for three months after dismantling of APM. He has only assured curbing any impact of extreme volatilities in global crude prices. Petroleum companies could be under pressure to raise retail prices as international crude oil prices have spurted since the presentation of the 2002-2003 budget.
UNI
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Implementation of ST laws in Punjab? Can a vehicle carrying goods bound for any place outside the State of Punjab and passing through it be seized by the sales tax authorities functioning at the information collection centres (commonly known as sales tax check-posts) simply on the footing “documents seem to be suspicious and that transaction needs verification?” This nowadays has come to be known as one of the most frequently asked questions in the trade circle in view of large scale detention of vehicles loaded with different consignments at the information collection centres in the recent past. What is happening in the State these days at the barriers is that vehicles transporting goods are detained without spelling out any valid reasons despite the fact that powers relating to detention cannot be exercised where the vehicle has to simply cross the state. The most interesting aspect is that a stereo-typed notice carrying the usual phrase “Documents seem to be not genuine and the transaction needs verification” is handed over to the person in-charge of the vehicle calling upon the “owner of the goods” to produce accounts books and other record in support of the documents that are tendered before the Officer in-charge. Let us have a look at the provisions contained in proviso to sub-section (4) of section 14-B of the Punjab General Sales Tax Act, 1948 that govern the procedure for obtaining prescribed documents at the information collection centres in relation to the vehicle passing through the state. In unambiguous terms it is laid down in these provisions “where a goods vehicle bound for any place outside the State of Punjab passes through the State, the owner or person in-charge of such vehicle shall furnish in duplicate, to the officer in-charge of the check-post or information collection centre, a declaration in respect of his entry into the State of Punjab in the prescribed form and obtain from a copy thereof duly verified. The owner or person in-charge of the goods vehicle, shall deliver within fortyeight hours the aforesaid copy to the officer in-charge of the check-post or information collection centre at the point of its exit from the State, failing which, he shall be liable to pay a penalty to be imposed by the officer in-charge of the check-post or information collection centre not exceeding two thousands rupees or twenty per cent of the value of the goods, whichever is greater.” There can be no dispute about the true interpretation of this provision that the person in-charge of the vehicle loaded with goods, bound for any place outside the State of Punjab intending to pass through it, has to furnish in duplicate a statutorily prescribed declaration to the officer in-charge of the information collection centre and obtain a copy thereof duly verified for being tendered within fortyeight hours to the officer in-charge of the information collection centre at the point of its exit from the State. It is only in the event of failure to deliver the same within the stipulated time that the person concerned can be called upon to deposit the amount by way of penalty for such an offence. The
provisions contained in proviso to sub-section (4) of section 14-B neither authorise the sales tax authorities either to detain the vehicles in such a situation nor are they competent to call for the account books or other record from the ex-Punjab parties. Unfortunately, in utter disregard to these provisions and the legislative spirit underlying the statute, vehicle carrying the goods are seized that too on the grounds totally unknown to law and the parties are called upon to produce the account books and deposit an amount equivalent to thirty per cent of the value of the goods by way of cash security or penalty. It is not understandable as to how this practice that is altogether inconsistent with the scheme of the provisions of the Punjab General Sales Tax Act, 1948 continues to be permitted at the information collection centres? While talking to this columnist, some of the officers disclosed that is being done in pursuance of the directions issued in this context by the higher authorities and that they are left with no option but to carry out orders of their superiors. The well established principles of law laid down by the Supreme Court of India in the matter of administration of tax laws come to ones mind wherein a five-judge Bench of the court ruled, on somewhat identical facts, “We are really surprised at the manner in which the first respondent dealt with the matter of this assessment. It is clear that he did not exercise his own judgement in the matter and faithfully followed the instructions conveyed to him by the Assistant Commissioner without giving the appellants an opportunity to meet the points urged against them. The whole procedure was contrary to the principles of natural justice. The procedure adopted was, to say the least, unfair and was calculated to undermine the confidence of the public in the impartial and fair Administration of the Sales Tax Department concerned.” The question that, therefore, arises is how the statutory powers vested in the sales tax authorities functioning at the check-posts which are supposed to be exercised independently can be usurped by the superiors?
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BoP opens branches
Chandigarh, March 30 The bank plans to take its ATM network to over 350 in the next two years and also plans to add about 18 more banking offices in the next financial year. HDFC Bank
HDFC Bank, today opened its 2 offsite ATMs here. This takes the total number of HDFC Bank ATMs in the region to 44. The ATMs inaugurated are at: Central Telegraph Office, Sector 17 by Mr Prithipal Singh, Director BSNL and at Chandimandir by Lt General H.S. Kanwar, AVSM, VSM, Chief of Staff — Western Command Head Quarters, Chandimandir.
TNS
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PGCIL test-charged
Mani Majra project New Delhi, March 30 The 220 KV S/C Nalalgarh-Mani Majrah transmission line was part of the project aimed at improving the reliability of power supply in Chandigarh. |
rc
by K. R. Wadhwaney Air Force looking for new aircraft for VVIPs World’s two leading aircraft manufacturers, Airbus Industries and Boeing, have changed their strategies to make their presence felt in this country. After years of effort and presentation at various levels to sell their new versions of aircraft, they seem to have arrived at the conclusion that nothing in this country moves without proper political patronage and good-will. Working on this premise and aware that the Air Force is looking for new aircraft for VVIPs (President and Prime Minister), two manufacturers have evinced interest in providing aircraft, which will fulfill all needs of the VVIPs. Whichever aircraft is chosen, it will be a combi-type. From bed room it can easily be converted into a conference hall. Several other innovations will be incorporated in the aircraft which, according to Defence authorities, should have more emphasis on utility their luxurious bearings. Airbus Industries, which held its press briefing recently, is offering A-319 which is already in use for VVIP movements in certain countries. If the plan materialises the ageing B-737s will be utilised for services other than the VVIP functions. Regardless of new version of aircraft is bought or not, the ageing aircraft need to be flown with much greater care and maintenance than has been the case at present. In-depth study shows that the maintenance of aircraft from helicopters to commercial jumbos has not been as tight and meticulous as it ought to have been. Most of the mishaps and incidents that have taken place in recent years is on account of indifferent maintenance. The probe into circumstances leading to an Indian Airlines Airbus-300 straying from the tarmac to boundary wall at the Indira Gandhi International Airport (IGIA) has been held. Various aspects have been examined by the one-man commission: Indeed the Chief Manager (Engineering), Mr Joginder Singh, who was taxiing the plane, was not under the influence of ‘spirit’. But why was he allowed to taxi the plane? Was there no qualified pilot available at the airport. The aircraft has been excessively damaged. Front part of the aircraft, particularly nose-landing and wings, have got to be replaced. Restructuring on the profitable Gulf routes has been announced by Indian Airline in its summer schedule, which will come into effect from April 1. In addition to new links on domestic sectors, the airline will also provide additional capacity on certain international routes. “There is demand for seats on sector between the Gulf and southern cities and we have accordingly increased operations”, said an IA official.
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by Praful R. Desai Petty offence Q: On a charge of remaining absent for only four days, can the services of an employee be terminated? A: Rajasthan H.C. was dealing with this issue in Jagatgit Cotton and Textile Mills Ltd v Labour Court (2002-I-LLJ-366). The H.C. at the outset said that for a petty offence of theft, one cannot be hanged. Similarly, observed the H.C., for a misconduct of remaining absent for four days, one cannot be terminated from services. If there are such regulations then they are ultra-vires. In fact, such regulation was struck down by this Court in W.P. No 4728/1099 decided on 2.12.99. S.C. in the case of Vijay Singh Charan v Management Swetamber Nakuda Parsavanath Mewanagar (1999 (1) RLW 314) has also taken the same view. In view of the above, learned Single Judge of this H.C. allowed the Writ Petition filed by the workman whose services were terminated on the ground that he remained absent from duty for four days. The H.C. in this appeal, saw no substance in the submission as no such argument was advanced by the employer before the learned Single Judge. Further, it was argued that there is a tripartite settlement which was binding, no only the present employer but also the employee. No such argument was advanced by the appellant before the learned Single Judge. Accordingly, the H.C. found no merit in the present appeal nor any substance in the argument supplied. Punishment must always be commensurate with the misconduct charged. It can never be excessive in nature. Equity and fair play must always play its vital part. Consequently, the present appeal was dismissed and the H.C. refused to interfere with the judgement of the learned Single Judge.
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US 64 scheme Canara Bank |
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