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Friday,
April 4, 2003, Chandigarh, India  
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Punjab
seeks 1,280 cr for crop diversification Crop
diversification plan on the cards Govt
clears 52 FDI proposals Haryana
tourism policy soon |
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N.
India’s auto industry expects rise in exports ONGC
finds oil reserves off Mumbai coast HCL
Frontline unveils Home Wonder PC
ONGC net
up 68 pc
Notifications
on Exim policy issued
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Punjab seeks 1,280 cr for crop diversification Chandigarh, April 3 He said the state government had already submitted a proposal to the Centre involving expenditure of Rs 1,280 crore for the diversification programme on the basis of the S.S. Johal Committee’s report but no money had been released to Punjab despite fully endorsing the contents of the document by the Planning Commission. Time and again the Centre indicated to scrap the existing MSP system but it would be unfair and unjust without giving the farming community a support. Dwelling on the diversification plan undertaken in the state, he said the state government had launched the contract farming programme and 30,000 acres had been covered under this programme till February 2003. A favourable atmosphere had been crated for popularising the alternative remunerative crops such as barley, winter maize, spring maize, sunflower, vegetables. There was a plan of covering 25 lakh acres under this plan by 2007. The cropping pattern was chosen in such a way that it not only saved the natural resources, especially underground water, but also led to a balanced production of foodgrains, pulses, oilseed, vegetables, industrial crops etc. The Chief Minister recalled that he endeavoured to implement the plan of agriculture diversification way back in 1985 when he was the state Agriculture Minister but as the luck would have been the concept did not materialise. Capt Singh said when he took reins of Punjab as the Chief Minister he once again accorded the top priority to his unaccomplished diversification agenda. The Centre was spending Rs 5,000 crore annually for the upkeep of foodgrains whereas the state government had made a plea to the Centre to give only Rs 1,280 crore annually to bring 1 million acre under diversification. He also sought cooperation and technical know-how from MNCs to develop the dairy sector as Punjab ranked 13th among the states in terms of cattle wealth but ranked No. 2 in terms of milk production. Mr Ajit Singh, Union Minister for Agriculture and Cooperation while speaking in the summit underlined the need of ensuring information of high technology to the farming community, credit facilities and timely
inputs like quality seeds and fertilizers in time to the agriculture sector. He said that the Agriculture information centres should be further strengthened to equip the farmers with latest techniques and help them in their application and thus boosting the productivity. He said that the banks should come forward in a big way to meet the credit needs of the farmers for introducing the latest means of agriculture at a lower rate of interest. He called for strengthening and revitalising the cooperatives to help the farmers in extending credit facilities and also marketing system. Prominent amongst others who spoke on the occasion included Mr Anand Mahindra, Vice President, CII & Vice Chairman and Managing Director Mahindra and Mahindra Ltd., Mr Sankar Krishnan, Ms Ireena Vittal Mckinsey & Co., Mr Yogesh C. Deveshwar, Chairman ITC Ltd.
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Crop diversification plan on the cards New Delhi, April 3 The states have to shift away from the rice-wheat-rice cycle to pulses, oilseeds and horticultural crops to address issues of soil health, irrigation and chemical fertilisers, said Jain, inaugurating the national conference for kharif campaign, 2003, here. Describing marketing as a prime constraint in diversification, Jain said model marketing legislation was being formulated by the Centre to guide the states in implementation of marketing reforms programme. There is a consensus among the states on the need to develop the competitive agricultural markets in the private and cooperative sectors, promotion of direct marketing and contract farming arrangements, he said. On the issue of the Kisan Credit Card scheme, he said states should ensure its speedy coverage and enable farmers to get funds without hassles.
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Govt clears 52 FDI proposals
New Delhi, April 3 On the recommendations of Foreign Investment Promotion Board, Finance Minister Jaswant Singh approved the Rs 168 crore FDI proposal of Principal Financial Group for buying out 50 per cent stake of IDBI in their mutual fund joint venture IDBI Principal Asset Management.
PTI
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Haryana tourism policy soon Chandigarh, April 3 Talking to TNS, she said, the government is making efforts to develop the state as a major tourist destination. Under its policy, the Morni and Kurukshetra towns would be developed as major destinations, where foreign and domestic tourists would be encouraged to stay overnight. She said, more than 40 private parties have already expressed keen interest in developing the tourist spots. The state government would soon call tenders from private parties to develop tourist spots, especially in the vicinity of Delhi, in Gurgaon, Faridabad and surrounding towns. Ms Sandhu claimed that with an investment of over Rs 3.5 crore, the state government has set up a restaurant in Tikertal in Morni, an Oasis centre in Pinjore and craft bazar in
Karnal. The Haryana Tourism Development Corporation (HTDC), she said, has registered 8 per cent increase in its business volumes by February, 2003, in comparison to Rs 140 crore business volume achieved last year. The corporation’s net profits have also increased from Rs 45 lakh have also increased substantially, though audited results are yet to be made public, she added. Referring to the incentives offered to the tourism sector under the New Exim Policy (2002-07) by the Commerce and Industry Minister, Arun Jaitely, she said, the government would study the feasibility of duty free imports to set up amusement parks out of foreign exchange earned in the state. Allaying fears of privatisation of HTDC, she said, at present there was no such plans, though private investment in the tourism sector was always desirable. On the pattern of Rajasthan, she said, the department has also plans to develop “Ethnic Village Tourist Centres” in the state. Tourists would be able to enjoy the traditional village experience including beds, ponds, folk songs, chaupals and eatables with all the luxuries of any hotel. It would attract domestic and international tourists apart from creating goodwill for the state, she added.
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N. India’s auto industry expects rise in exports New Delhi, April 3 Insufficient power and infrastructural facilities are major impediments to business growth in the region, felt industrialists. Though the industry has expressed cautious optimism about improvement in business prospects in the next six months, only 20 per cent of the industrialists
have shown pessimism about growth in sales. Almost 60 per cent of the units surveyed expected their profit margins to either increase or remain the same in the coming fiscal. Companies are also upbeat about their future exports prospects with almost every company predicting a higher or the same level of exports, said Chamber. According to the survey, while the majority (around 70 percent) have described the prospects of business improvement in the next six months as average, a significant 30 per cent of the respondents expect an improvement in general business prospects for their company over the next six months. However, none of the companies surveyed felt that the climate would worsen. The majority of around 80 per cent, expect a rise of upto 10 per cent in their business activities. Around 20 per cent of the respondents expect their business to grow beyond 10 per cent in the next six months. On the capacity utilisation front, more than four-fifth of the respondents were able to achieve more than 60 per cent of their capacity utilisation. “But despite the above conditions around 60 per cent of the respondents felt that they have idle capacity of at least 20 per cent. This shows that the situation on the domestic front, though favourable, is not particularly upbeat to revive business confidence in industry. The revival of domestic demand continues to be a cause for concern”, said the expert team. As per the survey findings, the respondents find themselves constrained by the business environment prevailing in North India.
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ONGC finds oil reserves off Mumbai coast New Delhi, April 3 “ONGC made six new discoveries, at Vasai West (oil and gas) in Western Offshore, GS—49 (gas) and GS-KW ( oil and gas) in Krishna Godavari offshore, Chinnewala Tibba (gas) in Rajasthan, Laipling-gaon ( oil and gas) and Banamali (oil) both in Assam”, a statement issued by ONGC said today. The Vasai West is estimated to contain 240 million barrels of in-place oil in addition to oil equivalent gas, the statement said. The Laipling-gaon is estimated to contain 100 million barrels of in-place oil reserves. Further, initial testing indicates the presence of sweet gas in excess of 7,000 Kcal/m calorific value. This is higher than the usual range of 1250 to 3100 Kcal/m in other gas finds in the sate of Rajasthan. The crude production of ONGC during 2002-03 has crossed the 26 million mark, registering an increase of 1.3 million tonnes over previous year. Meanwhile, turnover of the company has registered a 50 per cent increase in 2002-03 as compared to the previous fiscal year. The turnover stood at Rs 35,820.98 crore in 2002-03 as compared to 23,857 crore in previous year. The net profit of the company has clocked a 68 per cent increase and stood at Rs 10,436 crore in 2002-03. “After provision of the Rs 5,698 crore for tax, ONGC’s net profit is Rs 10,436 crore and adjusting for the losses in MRPL, the net profit of ONGC Group is Rs 10,282 crore”, a company statement said. The increase in net profit was due to the company selling crude at international prices to domestic refiners.
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HCL Frontline unveils Home Wonder PC New Delhi, April 3 The company has introduced two models priced at Rs 46,000 and Rs 48,000. The unique feature of this PC is the “Media Wonder Card” which helps user enjoy all these facilities. The PC is also high resolution, flat, anti-glare available in the size of 17 inches and above. “The Home Wonder series is intended to comprehensively address all multi-media needs in addition to providing a complete computing experience to the users”, the Vice-President, Operations,
HCL, Mr Rajendra Kumar said.
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I’m not a billionaire
Mumbai, April 3 "I'm very surprised at the report, and flattered. I've spoken to British TV channel Eastern Eye (which undertook the billionaires survey). But we've never spoken about my wealth or the lack of it," Amitabh told IANS. "Do you think I'm the kind of person who will talk about money in public? It's vulgar. Besides, it's just not true, though I wish it were! The fact of the matter is I've no money." Amitabh is currently busy shooting for Raj Kumar Santoshi's "Khaki". His new beardless look has gone down well with many. For his next release, "Armaan," he sports an all-silver visage. "Director Honey Irani wanted it that way," he says. "I've the highest regard possible for the Sahara chief. If he asks me to mop the floor of his office I'll happily do so!".
IANS
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