Govt not to subsidise exports
NEW DELHI, May 8 — Union Food and Civil Supplies Minister Surjit Singh Barnala today ruled out subsidisation of wheat exports as a measure to reduce the excess supply of the foodgrain in the domestic market.

‘Hydro power is the energy of future’
NEW DELHI, May 8 — The country has no option but to tap hydel power in a big way if it has to avoid energy crisis in the long run, the Chairman and Managing Director of National Hydroelectric Power Corporation, Mr Yogendra Gupta, said today.

Egypt is IT giant
CAIRO, May 8 — Egypt, considered a techno-backwater just a few years ago, has emerged as an information technology powerhouse.

Easier norms to hit multinationals
NEW DELHI, May 8 — The Industry Ministry is pushing through a proposal that would make hundreds of multinational companies in India sick, threatening the jobs of lakhs of people.

‘Govt to implement economic decisions’
HAZARIBAGH, May 8 — The government will function “like a normal regular” government and take steps to implement the economic decisions proposed in its Budget for 1999-2000, according to Finance Minister Yashwant Sinha.

BPL to pay 60 per cent
NEW DELHI, May 8 — The Board of Directors of BPL Limited has recommended a 60 per cent dividend for 1998-99 having registered a 19.75 per cent surge in net profit during the year.

Mutual Funds catch investors’ fancy
From T.V.Lakshminarayan
Tribune News Service

NEW DELHI, May 8 — Mutual Funds and debt instruments like bonds have become the latest tool of investment for a large number of investors, signalling happier times for the stock markets.

According to financial consultants, a wide array of mutual funds like Birla Mutual Fund, DSP Merill Lynch balanced fund, ICICI bonds and UTI schemes are attracting lot of queries from potential investors.

This marks a significant change as in the past several investors had burnt their hands by subscribing to mutual funds. The Morgan Stanley fund was one such case where investors stood in long queues to subscribe for it only to realise that it was not doing too well in the share market for quite some years.

But now several private funds are performing quite well and coupled with the tax benefits announced in the Budget are being sought after once again, says a private broker of such instruments, Mr P. Parameshwaran.

According to financial consultants, one factor that has been responsible for this trend is grant of tax exemption for money received by way of income distribution from mutual funds and the Unit Trust of India in the recent Budget.

According to the Budget provision, such income from all types of mutual fund schemes, including income, growth, balanced, pension, tax saving and money market schemes, would be exempt in the hands of the investor in the same way as normal dividends distributed by companies are.

Apart from the mutual funds, debt instruments have also become hot favourites with the investors and this too thanks to the budget.

Debt securities before the Budget proposals took affect were not easily tradeable. The major hurdle was the payment of differential stamp duty on transfers of the debentures and bonds. However, in this year’s Budget proposals, stamp duty on transfer of debt instruments within the depository mode. Trading through depository, where paper work is not involved, is easy and quick and provides the much needed liquidity for the companies. It is due to this reason that several companies like ICICI have decided to issue bonds in demat form only.

Another development in the capital market, according to R.Chandran, a leading broker in a Mumbai broking firm is the emergence of sector specific funds. These funds invest in a particular sector like say the information technology, core sector or fast moving consumer durable goods industry.

The Kothari Pioneer Infotech Fund has been doing well as the infotech sector has been booming in the recent past. Similarly there is the UTI’s UGS 10000 which invests only in scrips of multinational corporations. Another example is the Top 200 Fund, an open-ended equity fund from ITC Threadneedle which focusses on only companies listed in the BSE 200 index.

For those who would like to play it safe, companies are offering balanced funds, whereby a portion of the equity is invested in fixed income instruments, including bonds.

Says Mr.Parameshwaran, if all these instruments do not catch the eye of the chicken-hearted investor then there is the rock-steady faithful Reserve Bank of India Relief Bonds. With a five year maturity period, the RBI is offering nine per cent interest. It is also offering the facility of holding the bonds in a Dematerialised form, in a Bond Ledger Account, at designated branches of banks.

Sales tax roll-back fails to appease hosiery industry
Tribune News Service

LUDHIANA, May 8 — The roll back in sales tax on hosiery from 4 to 3 per cent announced by the Punjab Government yesterday has failed to satisfy the hosiery industry here. It continues to demand that sales tax on hosiery should be brought back to the level of 2 per cent on a par with that in the neighbouring states like Delhi and Rajasthan.

“The government’s action first in raising the sales tax from 2 per cent to 4 per cent and then reducing it to 3 per cent is nothing but a clever trick,” says Mr Vinod Thapar, president-elect of the Knitwear Club of Ludhiana.

“While the government claims that it has reduced the sales tax on hosiery, the fact remains that the hosiery industry now has to pay more sales tax than it has paid till March 31, 1999. This has made hosiery goods produced in Punjab uncompetitive and there is every chance that the government, instead of increasing its revenue from hosiery, may end up losing even what it was getting till now.”

Mr Jiwan Dhawan, chairman, Moti Nagar United Factory Association, says that hosiery manufacturers in the city have already started getting enquiries from traders in Delhi to send them goods without tax which will be shown as manufactured in the national capital and will, therefore, attract only two per cent sales tax.

Mr Darshan Dawar, secretary, Bajwa Nagar Hosiery Association and Mr Satpal Berry, Patron, Readymade Hosiery and Manufacturers Association, complain that the Badal government has failed to fulfil the promises it had made to the industry at the time of the elections. It had promised to abolish octroi, avoid double taxation on hosiery by shifting the levy of sales tax on the yarn but nothing had been done till now.

Mr Bhushan Maini, senior vice-president of the Knitwear Club, says the move has endangered not only the 9,000 hosiery units in the city but has also jeopardised the future of about 3.5 lakh persons employed in these units. He said if the government could withdraw tax hikes with regard to autos and two-wheelers and ball bearings then why can’t it withdraw the increase in sales tax on hosiery?

Govt not to subsidise exports

NEW DELHI, May 8 (PTI) — Union Food and Civil Supplies Minister Surjit Singh Barnala today ruled out subsidisation of wheat exports as a measure to reduce the excess supply of the foodgrain in the domestic market.

“There is so far no decision taken on subsidisation of wheat for exports,” Barnala told reporters.

Asked whether government would consider such a move in the future, the minister said “it won’t be easy”.

Barnala said the government would try to make maximum use of the bumper wheat crop in the domestic market and supply to overseas market if necessary.

“We will use it (the excess wheat) in the country and if necessary outside also,” he said.

The minister said lack of competitive price in the international market was the main obstacle in India undertaking largescale exports of wheat.

The government has already allowed export of 25,000 tonnes of wheat to Bangladesh by private traders.

“We have allowed exports to Bangladesh because they had asked for it. We will consider allowing exports to other nations as and when proposals come up,” he said.

The Food Corporation of India (FCI) is estimated to have 30 lakhs more than the stipulated buffer stock norm of 40 lakh tonnes as on April 1.

As per the buffer norms revised on October 31 last, the country is estimated to have a foodgrain buffer stock of 208 lakh tonnes as against the requirement of 158 lakh tonnes.

Faced with a more than comfortable sugar supply in the domestic market, the government may curb cheap sugar imports into the country in the next few days, Barnala said today.

“We are taking some steps to discourage sugar imports and it will be taken at the Cabinet level in a week or 10 days time,”. The minister, however, refused to spell out what measures were being contemplated by the government.

The government has no proposal to reduce urea fertiliser prices till the general elections, Surjit Singh Barnala said.

“There is no consideration right now on slashing the urea prices. No reduction will be effected till general elections,” Barnala told newsmen on the sidelines of a seminar on edible rice bran oil, organised by the Solvent Extractors Association.

‘Hydro power is the energy of future’
Tribune News Service

NEW DELHI, May 8 — The country has no option but to tap hydel power in a big way if it has to avoid energy crisis in the long run, the Chairman and Managing Director of National Hydroelectric Power Corporation, Mr Yogendra Gupta, said today.

He said the question of various supply options till 2006-07 have been looked into and it has been found that the energy options are not likely to materially change from the position today. However, there are financial and environmental imperatives which would require a change in emphasis in favour of hydro and nuclear power.

According to a study, the country would be required to generate additional capacity of 142,000 mw along with matching transmission and distribution system during the period upto 2006-07. These additional generation capacities need to come from hydro (52,000 mw), thermal (82,000 mw) and nuclear (8000 mw) power supply options.

The NHPC alone has targeted a capacity addition of 48,000 mw in the next two decades and with each unit requiring about Rs 6,000 crore the total investments needed would be around 250,000 crore.

Mr Gupta said since hydro power was capital intensive, the NHPC would have to depend on budgetary support to carry out its plans.

He agreed that the progress was not satisfactory in the hydro power front as the Government took considerable time to clear a single project and there was considerable delay.

The Corporation also made a major breakthrough in realising outstanding dues and was able to realise Rs 987 crore from beneficiary States which was more than 80 per cent of the total bills raised during the year. This is the highest recovery so far. Mr Gupta said the beneficiary States still owe to NHPC Rs 1584.39 crore excluding surcharge. The major defaulters are Uttar Pradesh and Jammu and Kashmir. The Corporation is supply power to 14 States and the Union Territories in the country.

On the financial front, NHPC registered a net profit of Rs 393.87 crore during the year 1998-99 against Rs 299.42 crore in the previous year. This is the highest profit so far made by the Corporation since its inception. The sales turnover of the Corporation was over Rs 1222 crore during the year as against Rs 1123.48 crore in the previous year.

Egypt is IT giant

CAIRO, May 8 (PTI) — Egypt, considered a techno-backwater just a few years ago, has emerged as an information technology (IT) powerhouse. With its rapid growth rate in the industry, Egypt is set to overtake other countries in West Asia, especially Saudi Arabia and the North African region.

Within two years Egypt will leap from being an emerging computer market into full maturity, Vice President of Intel Earl Whetstone said here.

Egypt has expressed keen interest in joining hands with India in software consultancy and a proposed partnership agreement between the two countries was sure to boost bilateral trade.

The US software company Microsoft said it would hold the first official preview of its final version of the new office 2000 software suite before it reached global market.

Easier norms to hit multinationals
From P.N. Andley
Tribune News Service

NEW DELHI, May 8 — The Industry Ministry is pushing through a proposal that would make hundreds of multinational companies in India sick, threatening the jobs of lakhs of people. And this despite the fact that the Commerce Ministry is putting up a stiff opposition to the proposal.

The Industry Ministry is seeking to change the existing rule that insists that multinationals planning to set up new companies in India get a no-objection certificate from the Indian partners of their existing joint ventures in the country. Under the existing law, several multinationals were denied permission to set up wholly owned subsidiaries in the absence of no-objection certificates from their existing Indian partners.

BAT Industries of Britain, for example, was not allowed to set up a 100 per cent-owned company in India as it did not get consent from ITC Ltd, its existing Indian joint venture company.

The Commerce Ministry has been stoutly opposing changes in the current regulations. If a multinational is allowed to set up a new company in which it is more interested, it could force the Indian partner of its older joint venture to sell out by stopping transfer of technology. The Commerce Ministry is understood to have sent a letter to the Industry Ministry protesting against the move.

According to sources, the Industry ministry’s move has been inspired by Japanese multinationals. Having taken control over the affairs of Maruti, Suzuki is keen that all its component supplier companies running on Japanese technology are completely controlled by the Japanese partners.

Under the existing joint venture agreements, multinationals have veto rights. If a multinational wants to set up a majority-owned or wholly owned new subsidiary in India, the Indian partner of its existing joint venture cannot approach another foreign company for technology or new products. The foreign partner could veto such moves. By blocking investment and stopping expansion and modernisation, the foreign partner can make the existing Indian joint venture sick and force the Indian partner to sell out to the multinational.

He said the small investors in the existing joint venture companies would suffer badly if the current rules are relaxed to help multinationals seeking larger profits from India.

Pak women eye Indian fashion market
From T.V. Lakshminarayan
Tribune News Service

NEW DELHI, May 8 — For Ms Saeeda Aziz, a high profile Director of a garment manufacturing unit in Pakistan, who always thought that India was “all Taj Mahal and Fatehpur Sikri”, a visit to this country has been a pleasant surprise.

She finds Indian women very fashion conscious, modern, hospitable and very much similar to the high society counterparts in her side of the border.

Recently in India, as part of the first ever all-women delegation of entrepreneurs from Pakistan, Ms Saeeda now sees India beyond Taj Mahal — as a potential market for Pakistan garment exporters.

Ms Saeeda is not alone in her assessment about India. Her 22 compatriots, who formed the delegation co-sponsored by the Lahore Chamber of Commerce and the PHD Chamber of Commerce and Industry, got the same feeling.

“Indian women are very much like us. They speak our language and wear more or less the same dress”, Ms Lalarukh Aga, leader of the delegation told The Tribune when asked about her experience to India.

It was the Lahore-Delhi bus service that really helped break the barriers of distrust and animosity. According to Ms Aga, the Pakistani delegation had their apprehension about travelling to India in a bus. “But, once we began our journey there was no looking back. The Indians are so friendly and hospitable that we forgot all our worries” she said about her visit to India.

A couple of entrepreneurs have even got their kids along and everybody is having a good time. Though Taj Mahal, Qutub Minar and Fatehpur Sikri was very much part of their agenda, their visit went beyond that.

The one-week visit to New Delhi beginning April 27 saw several meetings with business delegations, visits to numerous boutiques and a meeting at the National Institute for Fashion Technology.

The women entrepreneurs, drawn mainly from garment units, fashion designing and textile industry, see India as a big market for their products. Pakistani embroidery is so fine and unparalleled. “We can definitely join hands with Indian entrepreneurs to set up shop in India” Ms Riffat, a fabric printing expert said.

According to Ms Sarparveen Kaur, Chairperson of the PHDCCI Forum for Women, Indian women have always been fascinated by Pakistani dress and jootis. Indians visiting Pakistan always return with bag loads of jootis and salwar kameez.

Amidst all the hospitality that the Pakistani delegation received, there were also the pin-pricking reminder of the existing conflict between the two countries. “We had to frequently report to the police and visit the foreigners registration office. But these hardships were more than compensated by the love and friendship of the people in New Delhi” she said.

She said there was a need to break the walls of distrust between the two nations and for this business people should be allowed free and easy movement across the two countries. India and Pakistan need to create a better understanding, she added.

On the potential for business in India, Ms Aga said Indians were only aware of what was available in the Punjab and Sind areas of Pakistan. There was a need to introduce exquisite embroidery and garments from other areas like Baluchistan.

Their Indian counterparts were full of praise for the workmanship in Pakistani garments. But, they had a complaint. The dresses are over priced.

A young entrepreneur on the Pakistani side said these were only early problems and prices could drop if there were volume of sales.

‘Govt to implement economic decisions’

HAZARIBAGH, May 8 (PTI) — The government will function “like a normal regular” government and take steps to implement the economic decisions proposed in its Budget for 1999-2000, according to Finance Minister Yashwant Sinha.

Though the Lok Sabha was dissolved, “it will not affect the BJP-led dispensation to take and implement decisions as the government is of the view that the President has asked it to function as usual till a new government is formed,” Mr Sinha told reporters at the Regional Training Institute here yesterday.

Mr Sinha, however, said the government could issue an ordinance on the pending IRA, foreign exchange, FERA and about six other economic bills already tabled in the dissolved House. He said the fate of such bills would be decided by the next Lok Sabha. To a question, Mr Sinha said the government would approach President K.R. Narayanan for an instruction to release the required Rs 1200 crore for conducting the coming general elections under the Contigency Fund of India Act as “we cannot provide more than Rs 50 crore and we will have to issue an ordinance for the purpose.”

by A. K. Sachdeva

Q: We are registered as a dealer under the provisions of the Punjab General Sales Tax Act, 1948 and the Central Sales Tax Act, 1956. It was in first week of April this year that a consignment of goods was being brought to Punjab as a result of a purchase in the course of inter-state trade or commerce from a Delhi based firm which was intercepted by an Excise and Taxation officer-cum-Asstt Director (Enforcement) under sub-section (6) of section 14-B of the Punjab General Sales Tax Act, 1948 on the footing that octroi receipt was issued in the name of the driver incharge of the vehicle carrying the same. It may be mentioned here in this context that the goods were admittedly found covered by bill of sale as well as goods receipt wherein all relevant details were specified with respect to the consignment. Proceedings have been initiated against us by the Asstt Excise and Taxation Commissioner-cum-Deputy Director for imposition of penalty under sub-section (7) of section 14-B. Kindly advise.

— Surinder Kumar Sharma

Ans. Sub-section (2) of section 14-B of the Punjab General Sales Tax Act, 1948 requires barely two-fold documents such as bill of sale and goods receipt for purposes of carrying goods from one place to another. This two-fold requirement appears to have been fully complied with by the queriest as has been stated that the consignment of goods was supported by these documents. Therefore, detention order passed by the Checking officer under Sub-section (6) of section 14-B of the Punjab Act are wholly illegal and without jurisdiction. Simply because octroi receipt is obtained in the name of the driver incharge of the Vehicle transporting the goods, it does not constitute a valid ground within meaning of sub-section (6) of section 14-B to seize the consignment. In other words, octroi receipt is not a statutorily prescribed document for purposes of sub-section (2) of section 14-B and therefore the point raised to the effect that it should have been in the name of the firm has no relevance at all to the controversy involved in the case. In these circumstances, an objection in writing can well be filed before the Asstt Excise and Taxation Commissioner inviting his attention towards these statutory provisions.

Q: We are registered as a dealer under the provisions of the Haryana General Sales Tax Act, 1973 and the Central Sales Tax Act, 1956. We are engaged in the business of purchase and sale of medicines and pharmaceutical preparations. Medicines are purchased from the places situated in the state of Haryana on payment of sales tax at the first point. Subsequently, these goods are sold in the course of inter-state trade or commerce against form ‘C’ when 4 per cent CST is realised again from the buyers as required under the provisions of the Central Sales Tax Act, 1956. Kindly advise if excess amount of tax paid to the State at the first stage becomes refundable? If so, under which provision of law this refund can be claimed by a registered dealer?

— A.K. Manchanda

Ans: Under rule 24-A of the Haryana General Sales Tax Rules, 1975, if tax paid goods are purchased are purchased from within the state on payment of appropriate tax at the first point and then these are sold in the course of interstate trade or commerce, the excess amount of tax paid to Haryana State becomes refundable within the meaning of sub-clause (ii) of clause (1). A registered dealer becoming entitled to refund under this sub-clause can file his application seeking refund along with ST-14 forms showing payment of tax at first point to the assessing authority along with to relevant returns.

by Praful R. Desai
Is the order of dismissal proper?

Q: Where an employee was charge-sheeted claiming travelling and lunch allowance on the basis of forged signatures and without visiting the customers, is the punishment of dismissal disproportionate?

A: Madras H.C. was bealing with this aspect in Sivaji M.V. v Godrej and Boyce Manfg. Co. Ltd., Madras (1999-I-LLJ-185).

The employee was employed as typewriter mechanic to discharge the duties of visiting the customers and servicing the typewriters. He was charge-sheeted for claiming travelling and lunch allowance without visiting the customers. The employee had forged the signatures on the service cards to authenticate his visits to the customers, which he never did.

In enquiry, he was found guilty and was dismissed. The Labour Court found that he did commit the alleged act of misconduct but found the punishment little too harsh and had ordered re-instatement without back wages. This is how the matter is with the H.C.

The learned Single Judge has rightly come to the conclusion that the Labour Court has interfered with the quantum punishment without any warrant or justification or plausible reasons. Sympathy shown to the delinquent was misplaced on the part of the Labour Court. Quantum of amount of misappropriation is not a relevant factor to judge the misconduct on the facts and circumstances of the case.

The employer has lost confidence in the employee who has misconducted himself by forging the signatures, claimed false monetary benefits, apart from bringing bad name to the employer for not rendering services to the customers, whom the employer had already charged. On the findings and in view of the gravity of misconduct, the H.C. held that the punishment of dismissal from service cannot be said to be disproportionate to the charges established. H.C. observed, when once an enquiry found to be fair and suffered from no infirmity, the Labour Court should be slow to interfere with the punishment, unless it is so unconscience warranting interference.

The D.B. of the H.C. therefore concurred with the view of the learned Single Judge and consequently dismissed the appeal.

by R.N. Lakhotia

Q: I used to contribute to Public Provident Fund. Although the 15- year period ended during April, 98, I deposited in the account on 2/4/98 an amount of Rs 50,000 with the intention of keeping the account current for another 2 years. But, later, I changed my mind and closed the account on 6/4/98.

Kindly advise whether a rebate of 20% on Rs 50,000/- can be claimed during the financial year 98-99.

— C.M. Kaul, Chandigarh

Ans: You will not be eligible for tax rebate on your contribution to PPF because the amount has been withdrawn and the account has been closed.

Q: Kindly advise if the interest upto Rs 12,000 on FDRs of private sector banks is exempted from income tax in a financial year u/s 80-L of I.T. Act 1961 or not?

— J.S. Romana, Mohali.

Ans: The interest received from private sector bank is exempted up to Rs 12,000 per annum u/s 80L like any other interest income from any other bank.

Q: I am working in the D.S. Electricity Board. I was wrongly given one more annual increment from 1-7-93 without my fault. Now the department has deducted the whole amount of Rs 6800 (wrongly given to me from 1-7-93 to 31-8-98) from my revised pay scale arrear which I have received (Rs 7200) in September 98. I have not paid tax upto the year 1997-98 because amount of rebate u/s 88 was more than the amount of tax.

(i) Will the total amount of arrear (Rs 7200+9800) be included in the total income for the year 1998-99 or only Rs 7200 will be included?

(ii) If I split over the arrear in the year 1996-97 and 1997-98 then can I deduct the amount wrongly to me in these years and the remaining amount deducting in the year 1998-99.

— Gurpreet Singh, Chandigarh.

Ans: The arrear amount of salary which was wrongly paid to you and which has not been taken back by your employer will not be included in the salary for the Financial Year 1998-99. Thus, the net amount alone would be liable to tax. If you desire you can ask your employer to tax you on the arrear salary for different years in different years themselves as per Section 89 (1) of the Income-tax Act.

Q: Please guide the income tax payers as to how to give full benefit of FM’s announcement about the abolition of Gift Tax with effect from October 1, 1998. What should be the procedure? Can a tax payer give benefit by gifting a portion of his income to his grandson (a major — being 20 years of age)?

If so, what should be the procedure?

— J.D. Khanna, Chandigarh.

Ans: With effect from October 1, 98 there is no Gift Tax either on the donor or the donee. Thus, if you desire, you can make a gift of any item of any amount to your major grandson. If the gift is of immovable property, it would require registration in the Office of the Sub-Registrar. If, however, the gifted amount is in the form of movable assets, then no registration or stamp paper is required and you can just write down a gift letter on a plain paper. One most important condition for making the gift a valid one is that the gift should be accepted by the donee. Hence, a letter of acceptance should be obtained from the person to whom the gift has been made.

Q: I am a Chandigarh Administration pensioner and draw pension as per Punjab pattern as made applicable to Chandigarh Administration employees. I am income tax assessee and below 65 years of age. Kindly elucidate:

(a) Whether the LTC allowed to pensioners is exempt from Income Tax?

(b) What are the retirement benefits exempt from I.T. for the current financial year and various other exemptions/rebates like interest from Fixed Deposits in Banks/UTI/Post Office and Financial/manufacturing companies, mutual funds etc.

— Manohar Lal Arora, Chandigarh.

Ans: As a pensioner you will be entitled to receive a standard deduction from your pension income. LTC received from your previous employer would also be exempted as per the normal rules applicable to an employee. Gratuity upto Rs 3,50,000 is exempted to the maximum extent at the time of retirement. Encashment of unutilised leave at the retirement time is also exempt upto a maximum of Rs 1,35,360. The maximum deduction u/s 80L allowed in respect of bank interest for the Financial Year 1999-2000 is Rs 12,000. similarly, additional amount of Rs 3,000 is exempted u/s 80L on account of interest on securities of Central/State Governments.

BPL to pay 60 per cent

NEW DELHI, May 8 (UNI) — The Board of Directors of BPL Limited has recommended a 60 per cent dividend for 1998-99 having registered a 19.75 per cent surge in net profit during the year.

The board today announced a final dividend of 35 per cent taking the total dividend for 1998-99 to 60 per cent. BBL’s net profit during the fiscal was Rs 102 crore as against Rs 85.57 crore in the previous year.

Its net sales for the fiscal stood at Rs 1940 crore, up 11 per cent from Rs 1746 crore a year earlier. The company is likely to incur a cost of Rs 21 crore for mitigating Y2K related problem by September, 1999. Gross sales during 1998-99 stood at Rs 2047.08 crore from Rs 1843.85 crore a year ago while other income was lower at Rs 84 lakh from Rs 2.67 crore.

PMP Components
CHANDIGARH, May 8 (TNS) — PMP Components, a part of the Rs 1500 crore Piramal Enterprises Limited, has launched ‘Kisan’ Alternators for tractors which are specifically designed to meet the needs of the Indian farming community. ‘Kisan’ Alternator offers unique benefits such as higher power, longer battery life, total protection from dust and water, small and compact unit and total reliability.

Kribhco
NEW DELHI, May 8 (TNS) — Krishak Bharati Cooperative Limited (Kribhco) has signed an MoU with Gujarat Power Corporation Limited (GPCL) for setting up a 615 MW combined cycle power project at Piapav in Gujarat. Involving an estimated cost of Rs 2,200 crore, the Naptha based project will have the provision to switch over to LNG at a later date, a Kribhco release said.