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| Saturday, July 8, 2000, Chandigarh, India   
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Finance panel report is ‘liberal to states’ NEW DELHI, July 7 — Chairman of the 11th Finance Commission A.M. Khusro today described the recommendations of the report as a “liberalised” one that will make the states happy.
Rural women run mini banks RAE BARELI, July 7 — Rae Bareli district in UP has grabbed international attention for its successful implementation of micro-banking. Bangladesh, the pioneer in micro-banking, recently sent to the district a 15-member team of experts, which was impressed by the “tremendous response” the scheme had evoked from the rural people. Cellular,
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| Hindalco, others bid for Balco NEW DELHI, July 7 — At least seven companies, including US-based Alcoa and Aditya Birla group company Hindalco, have submitted expressions of interest (EoI) to take over Bharat Aluminium Company Ltd (Balco), government sources said. Videocon plea on Diviya rejected BSE gets ready for
b-day fete How to make computers affordable
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Finance panel report is ‘liberal to states’ NEW DELHI, July 7 (PTI) — Chairman of the 11th Finance Commission A.M. Khusro today described the recommendations of the report as a “liberalised” one that will make the states happy. Khusro told PTI after submitting two documents of the report to President K.R. Narayanan that he was hopeful the states would be happy with the recommendations, though he would not like to divulge any details till it is presented in Parliament. Khusro attributed the six months delay in submission of the report to additional terms of reference in the report. “The term of the commission was extended for six months because they had given us additional terms of references than any other Finance Commission and gave us less time than most Finance Commissions”, Khusro said adding the President himself gave a six months extension for the commission after December 31, 1999. “They themselves gave us six months more and we did not ask for any more time. We finished it in good time and signed it on June 28 though the President gave us today’s date to submit it,” he said. While receiving the heavy document reports, Narayanan quipped “the report seems to be weighty”. The 11th Commision report has reportedly recommended an increase in the share of central taxes to states from 29 per cent recommended by the 10th Finance Commission to about 33.5 per cent. “Today I will be writing to the Ministry of Finance and sending the copies of this report to the Ministry and they will expeditiously move it for presenting it in Parliament”, he said. On his next job after the culmination of the 11th Finance Commission, Khusro said “I am quite happy and satisfied by the opportunity God gave me and the President of India gave me”. Planning
Commission had suspended finalisation of states’ annual plans for 2000-01 in the absence of any guidelines from 11th finance Commission on allocation of funds. The Planning Commission had also reportedly expressed its inability to act on the demands of states for immediate release of Rs 11,000 crore allocated as non-plan deficit grant for overcoming their Financial crisis, pending the availability of final recommendations of the 11th Finance Commission report. Nine states, including West Bengal, Rajasthan, Punjab and Maharashtra which had signed an MoU for undertaking fiscal correction had told the Prime Minister that the Centre was responsible for their poor financial health due to the implementation of the 5th Pay Commission. The commission, in its interim report said a review of the finances of both the Centre and states did not show an encouraging picture. The interim report also stated that its recommendations were designed to reverse the trend of growing revenue deficit of the Centre and states. |
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Rural women run mini banks RAE BARELI, July 7 (UNI) — Rae Bareli district in UP has grabbed international attention for its successful implementation of micro-banking. Bangladesh, the pioneer in micro-banking, recently sent to the district a 15-member team of experts, which was impressed by the “tremendous response” the scheme had evoked from the rural people. A self-help group-bank linkage programme was launched by NABARD in 1992, with the policy back up of the RBI of India. The programme started with the formation of the first women self-help group called Parwati Mahila Bachat Samooh in a non-decrepit Ajij Ganj village by the Lodhawaman branch of the Rae Bareli Kshetriya Gramin Bank in February 1996. Soon the entire district came under its umbrella and all the 74 branches of the bank started channeling micro-credit. Ms Kalawati Sharma, President of the Parwati Mahila Bachat Samooh, says she was initially skeptical about the banks as most of them closed down after collecting deposits. Today she is leading a “Samooh and running two shops with its help. Her income has registered an increase of 400 times. “The shylocks — traditional moneylenders — who insisted on their pound of flesh, have now vanished from our midst and the self-help group is providing 24-hour banking,” she says. Ms Sharma, who has studied only up to 5th class, has made nine members of her group literate. Ms Raj Rani, treasurer of the group and a member of the Scheduled Castes has also participated in the campaign against illiteracy. After joining the self-help group she has freed her small holdings from the debt and also paid for the treatment of her father-in-law, who had suffered an attack of paralysis. “Whenever a drunkard husband starts beating his wife, we assemble at his house and prevent him from doing so,” she says with a smile, which reflects her sense of confidence and victory. Ms Nirmala Devi, President of the Luxmi Mahila Bachat Samooh, Ajij Ganj, constructed her house and also contributed towards the marriage expenses of the daughter of the elder brother of her husband with the support of the group. Ms Shambhu Deyee, treasurer of the group, has started selling milk, which has improved the living standard of her family. Ms Vidya Devi made her husband give up the habit of smoking, which had ruined her health. Today, she is arranging for his treatment. The self-help group-bank linkage programme has no doubt gone a long way in improving the lot of rural women. The number of women self-help groups promoted by the bank is now 1,464 with 16,730 members. Of them, 531 groups have been linked with the bank credit of Rs 101.5 lakh. |
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Cellular, phone operators clash NEW DELHI, July 7 (PTI) — Private cellular and fixed phone operators today clashed at an Open House session organised by the Telecom Regulatory Authority of India over opening up of the fixed phone sector to unlimited competition. Cellular operators opposed the demand for protection by the Association of Basic Telecom Operators (ABTO) saying they had already committed for unlimited competition by signing the migration package. ABTO said the fixed phone sector should not be opened unless all other telecom sectors are opened for unlimited competition and any move otherwise would be counter productive. Till the time other sectors are thrown open for unlimited competition, the fixed phone operators should be offered some amount of protection, S.C. Khanna, Secretary General of ABTO, said at the Open House on Licencing Issues relating to fixed Service Providers. The Cellular Operators Association of India represented by its Executive Director T.V. Ramachandran said the cellular operators have already signed the migration package under which unlimited competition has been agreed upon. TRAI Chairman M.S. Verma said the regulator was not biased towards any technology and, in fact, is technology neutral. “What we are bothered about is affordability and not the technology,” he added. He said the operators should be able to provide services to consumers at affordable rates, despite using whatever technology. Teledensity projections of 15 per 1000 by 2008 included the cellular phone penetration expected by then and was not based solely on the fixed phone lines, Verma said. Verma agreed to the suggestion of some participants that at some point of time, growth of cellular lines would cross the growth of basic lines in the country. He also noted that one of the major reasons for the growth of teledensity and bringing down the per line cost was because the exchanges and cables were manufactured locally by minimising import. |
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Hindalco, others
bid for Balco
NEW DELHI, July 7 (PTI) — At least seven companies, including US-based Alcoa and Aditya Birla group company Hindalco, have submitted expressions of interest (EoI) to take over Bharat Aluminium Company Ltd (Balco), government sources said. The others who have submitted their EoI to global advisors Jardine Fleming before the last date on June 30, included Kaiser and Sterlite Industries, sources said. The process of disinvestment of 51 per cent stake in the third largest aluminium manufacturer in the country will be completed in the next six months. The government will invite financial bids after short-listing the bidders based on their financial capability as Balco would need an investment of around 750 million to one billion dollars, the sources said. They indicated that the other bidders were all international aluminium companies.
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Videocon plea on
Diviya rejected NEW DELHI, July 7 (PTI) — Videocon Leasing and Industrial Finance’s appeal against a BIFR decision declaring Diviya Chemicals a sick industrial company has been rejected by AAIFR. Dismissing Videocon’s appeal, a two-member bench of Appellate Authority for Industrial and Financial Reconstruction comprising Chairman M.S. Dayal and member J.K. Bagchi said BIFR had already taken note of its objections and its decision to declare Diviya Chemicals was a “reasoned”. Videocon had appealed to AAIFR saying that the BIFR decision to declare Diviya Chemicals was “unreasoned” as it was based on a report by IDBI which did not make any indepth enquiry into the company’s financial condition. The appellate authority, however, said that it had no reason to doubt the IDBI report and added that details in the report could have been arrived at only after an indepth examination of the relevant records. “We reject the contention of Videocon that IDBI did not carry out an indepth study as contemplated in BIFR’s directions,” AAIFR said. The authority observed that BIFR had declared the company sick after taking note of Videocon’s objections and detailed explanation had been given by Diviya Chemicals and IDBI therein.
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BSE gets
ready for b-day fete MUMBAI, July 7 (PTI) — Bombay Stock Exchange’s (BSE) 125th anniversary celebrations will be inaugurated by Atal Behari Vajpayee on July 9. “The exchange formed on July 9, 1875, as The Native Share & Stock Brokers Association, had a chequered history and is now striving to achieve its vision ‘to be an exchange of choice globally’ BSE chief Anand Rathi told reporters here today. From being a small association of brokers, the exchange has grown to be a leader in volumes, products and technology, he said, adding today, the exchange has a presence in 275 cities in the country through over 4,600 trader workstations. The market capitalisation of the exchange has seen a phenomenal growth during the last 20 years to Rs 8-9 lakh crore from a meagre Rs 5,000 crore in 1980, he said. Recalling this was the first exchange in the country to launch index futures (based on Sensex) last month, he said that it would become the first exchange in the world to implement exchange-level internet trading facility next month. Inauguration of a BSE museum, release of pictoral history, lectures by international dignitaries and sports tournaments would mark the year-long celebrations of the exchange. |
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How to make computers affordable NEW DELHI: A 100 per cent depreciation on personal computers (PCs) can increase education computer penetration in India by 290 per cent to 0.017 units per 100 by 2003 from the current 0.006 units in 2000, according to a latest study. “A 100 per cent depreciation on PCs will fuel infotech growth both in terms of PC penetration in the consumer market as well as for educational institutions which cannot afford a high-end expensive PC,” the study “Education PC for India” by Skoch Consultancy Services said. India has the lowest per capita education PCs in Asia Pacific and in 2000 there are only 0.006 education PCs per 100, up from 0.003 in 1998, it said, adding that “with 100 per cent depreciation allowed, the figure is likely to jump to 0.017 education PCs per 100 by 2003 reflecting a growth of 290 per cent”. Even at these rates, India will lag behind China which currently has 0.041 education PCs per 100, climbing to 0.083 per 100 by 2003. An approximately configured education PC costs about Rs 54,600, it said adding that even if Customs duty and excise were made zero the final price would still be about Rs 44,113. “Even at this rate which conforms to international rates of $ 1000, the PC is still unaffordable for educational institutions. The affordability barrier for schools is breached at Rs 10,000 to Rs 12,000 range and thus the normal available methods of making PCs affordable for this segment are not realistic,” it said. The study concluded saying that the only way possible to make reasonably contemporary second-hand PCs reach the market was by allowing 100 per cent depreciation. “Besides giving tax advantage to the small and medium enterprises and corporate segment, the move will also fuel the educational PC penetration in the country,” it added. E-mail in Indian
languages possible NEW DELHI: Indian languages. com on Friday launched of its multi-font and multi language mailing system, apnamail.com. “The new mailing system will facilitate sending e-mail in any Indian language by using multiple choice of fonts and font formats,” says a company official. The site, inaugurated by Minister for Information Technology Pramod Mahajan, also supports use of any available Indian language software for typing e-mail without downloading a specific proprietary font supplied by the e-mail service. The system also allows a recipient to reply to the mail in any font available on his computer doing away with the need to download the same font in which the mail was sent. “Reply to the mail can be sent through Netscape Mail, Eudora or Outlook Express directly,” he said. —
TNS Nitizen group to
teach citizens CHENNAI: A group of computer literates here have formed a social action group with the aim of making all citizens computer literate. The action group co-ordinator, P.L. Peter, says the group called “Nitizen 2010” will launch a nationwide campaign from August 15 and provide free education on how to use a computer and access the Internet. They will interect with other action groups to formulate a national policy on imparting free computer education.
— PTI AirTel to offer mobile Internet NEW DELHI: AirTel, a private cellular service provider in Delhi and some of the Southern states, on Friday entered into an alliance with Silicon Valley-based Phone.Com for providing mobile Internet. AirTel has acquired a licence from Phone.com, wireless Internet-based services provider, for introducing mobile Internet in the AirTel’s territories. All AirTel subscribers using mobile phones equipped with a WAP-browser would be able to access the Internet based services and applications.
— TNS |
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Comic invasion of web BEANO comic fans are in for a big shock later this month when they open a copy of their favourite comic. All the characters will have gone except Dennis the Menace and Gnasher. Completely baffled, Dennis starts searching for his missing pals and eventually discovers them sitting in an Internet cafe where they are logged onto a new Beano website. The comic’s UK-based publisher, DC Thomson, is planning this high-profile PR stunt to announce the official launch of Beanotown.com, a new online community designed for children. Populated by the likes of comic characters Minnie the Minx, Roger the Dodger and the Bash Street Kids, Beanotown is the latest attempt to make the traditional comic relevant to the fast-growing internet generation. The virtual town will replace the Beano’s old website and the publishers are hoping they can turn it into a major new e-commerce platform. It has taken six months to build Beanotown.com at a cost of about $ 755,000. The town square’s home page leads you through to high street shops, a museum and the Bash Street School. To become a resident of Beanotown in the UK you pay an annual $ 7.55 fee, which is deducted from a credit card. Then you can move into your own virtual house and decorate and furnish it how you wish. You can talk to other residents of Beanotown through e-mail and you can choose to have a Beano character to lead you around and tell you jokes. —
The Guardian
Albright angers the Japanese TOKYO: The decision by the US Secretary of State, Madeleine Albright, to stay away from next week’s pre-G8 Foreign Ministers’ meeting in Southern Japan has enraged her jilted hosts. Having spent more time and money on the summit than any other hosts in the history of the G8, the inhabitants of the rural area of Miyazaki were not impressed to learn that Mrs Albright has decided to concentrate instead on the West Asian peace talks. In herMs Albright’s decision is a setback for Japan, which has had to fend off criticism recently that it is losing ground to China as Washington’s main ally in Asia. Political leaders have expressed outrage at the perceived snub, organisers have thrown up their hands in disbelief and Japanese diplomats have muttered darkly that US interests could be harmed. Local politicians and businesses had squandered billions of dollars on the G8 summit in the hope that it would put this little-known district on the world map. A huge swath was cut out of a seaside pine forest to build the US$2.4bn Seagaia resort complex, which was supposed to host Bill Clinton and the other summit leaders until Okinawa stepped in with a more successful bid. As a consolation, it was awarded the Foreign Ministers’ meeting. —
The Guardian
Indian company in trouble NEW YORK: An India-based company has pleaded guilty to illegally importing Shahtoosh shawls without a licence from either the US or India and owing more than $ 30,000 in unpaid taxes. The shawls retail up to $ 1,000 a piece. The company made the admission through its attorney in a federal court in New Jersey and lawyers said it could be fined up to $ 5,000. The shawls are made from the wool obtained from a rare
Tibetan antelope which is on the list of endangered species. — PTI |
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Vision 2020 NEW DELHI, July 7 (PTI) — The Planning Commission has drawn up an ambitious agenda ranging from food security to external economic relations for achieving self-reliance over the next 20 years. Disclosing the 12-point agenda for the empowered task force set up by the Commission for drawing up Vision 2020 the task force Chairman Dr S.P. Gupta said “the exercise is to sort out the differences in the perceptions in the vision between states and issues especially on inter-state matters.”
NEW DELHI, July 7 (UNI) — Fiat India Limited (FIL) today announced a new unlimited mileage warranty scheme for two years ‘Fiat advantage” on both its passenger cars Uno and Siena. Under the new scheme, the company will be offering an assured insurance on its spare parts.
New joggers CHANDIGARH, July 7 — Tuffs has recently introduced a new range of joggers named Century. The joggers are made from imported Korean fabric for great shape-retention and durability. The outer sole is of rubber with mid sole made of EVA (Elastomer Vinyl Acetate). It will cost Rs 795.
Motorola NEW DELHI, July 7 — Motorola has launched “talkabout” T2688 cell phone which is 18mm in width and 90gm in weight.
Book released NEW DELHI, July 7 — Union Minister for Law, Justice and Company Affairs Ram Jethmalani has released a book titled “Guide to Company Law Settlement Scheme, 2000” authored by Mr Ashish Makhija, a Delhi-based chartered accountant.
ISO 14001 NEW DELHI, July 7 — General Motors India has been awarded the prestigious ISO 14001 certification for establishing and applying an “environmental management system” for manufacturing of automobiles. |
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