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| Monday, September 11, 2000, Chandigarh, India   
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China outperforms India:
Norman Borlaug Scholarships for 5,000 IT Indians
Tirupur scores
over Ludhiana Punjab beyond rankings Fujitsu may enter software sector E-com computer for less than Rs 10,000 |
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Kribhco AGM
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China outperforms India:
Norman Borlaug Washington, Sep 10 — China has been more successful in achieving broadbased economic growth and poverty reduction than India, Nobel laureate Norman Borlaug has said. The scientist of Texas A&M University, in a speech, said Nobel economics laureate Amartya Sen attributes this to the greater priority the Chinese government has given to investments in rural education and health care services. Nearly 80 per cent of the Chinese population is literate while only 50 per cent of the Indian population can read and write. Borlaug said India has more than half of its population below the poverty line whereas China has less than 30 per cent. Only 17 per cent of Chinese children are malnourished compared to 63 per cent in India. With a healthier and better-educated rural population, China’s economy has been able to grow about twice as fast as the Indian economy over the past two decades and, today, China has a per capita income nearly twice that of India. Borlaug, who was awarded the Nobel Peace Prize for expanding food production, said the key to feeding a mushrooming global population was by allowing farmers in developing countries access to high-yielding biotechnology. He said the technology to feed as many as 10 billion people in 2025 either exists now or is in development. “The more pertinent question today is whether farmers and ranchers will be permitted to use this new technology,”. Agriculturists and environmentalists must quickly resolve their dispute over what constitutes sustainable agriculture in the developing world. Borlaug said he and most other agriculture scientists expected good results from biotechnology in expanding world food supply. However, he expected obstacles in getting that technology to developing country farmers — obstacles from the technology owners and from misguided government regulation in some countries. Besides genetic improvements, he said researchers must find other ways to expand crop yield, especially in increasing productivity through crop management techniques such as conservation tillage. Involved since 1986 in a project transferring food technology to sub-Saharan Africa, Borlaug said Africa remains the area of the world facing the most critical food shortage in years ahead. Despite success in implementing Green Revolution technology to increase grain crop yields, he said, “The battle to ensure food security for millions of miserably poor people is far from won, especially in South Asia.” Producing sufficient food in environmentally and economically sustainable ways was a daunting task, Borlaug said. Equally or even more daunting, he said, was to distribute food equitably. “Poverty is the main impediment to equitable food distribution, which in turn, is made more severe by rapid population growth,” he said. —IANS |
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THAT'S
IT SAN FRANCISCO, Sept 10 — For those Indian Americans who have the right hi-tech dreams but not the resources to pursue them, here’s great news. CyberLearning Universe, a non-profit group providing high quality IT training at low costs, has announced 5,000 scholarships. Founded by Indian American Appu Kuttan, CyberLearning Universe is taking IT to a greater number of people. Recently, Kuttan announced that the organisation would be giving full tuition scholarships of $2,000, to the first 5,000 Indian American applicants. Students who enroll with CyberLearning can take more than 400 classes, read their books, and question instructors online. The only requirements are that the applicants take an online aptitude test, and pay a one-time fee of $75. Moreover, their earnings should not increase $40,000 annually. “Many Indian Americans have done well in the IT field,” Kuttan said in a statement. “But many others are being left behind. This is the right time to help those...who have the motivation but lack resources.” CyberLearning Universe was born after Kuttan spoke with President Bill Clinton and Intel founder Gordon Moore in 1993. The three set two goals: to train 100,000 IT professionals and one million disadvantaged children. Kuttan has also initiated a programme to train one million college students in India in IT through CyberLearning India. In addition to his efforts at CyberLearning, Kuttan has redesigned Puerto Rico’s traffic safety programme, improved Venezuela’s social security system, and helped former prime minister Rajiv Gandhi redesign India’s national plan implementation programme. He also started a tennis academy which trained the famous Andre Agassi and Monica Seles. CyberLearning courses are either self-study or instructor-led. They cover all levels and almost all topics and certifications. Their Web site at www.cyberlearning.org can be contacted for details.— IANS |
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Tirupur scores
over Ludhiana TIRUPUR, Sept 10 — This sleepy river side town, 55 km from Coimbatore which is one of the industrial hubs of Tamil Nadu, has outclassed Punjab’s own Ludhiana in knitwear exports. In just 13 years, this town with a work force of 2.5 lakh has increased its exports from a mere Rs 74 crore to a staggering Rs 3,017 crore. In fact, one estimate puts it at Rs 3,300 crore. Compare Ludhiana’s dismal export of knitwear at a mere Rs 800 crore last year. In fact, the total production of hosiery and knitwear in Ludhiana during 1998-99 was worth Rs 1942.84 crore only. Tirupur produced hosiery and knitwear worth Rs 4,000 crore. Tirupur came late on the export scene. Although it has been a long journey, starting in 1924. For years it was content to produce grey and bleached banians. By the mid-sixties, it got into its stride. Almost by that time Ludhiana was galloping. Still, as officials of the Tirupur Export Association (TEA), a major source of inspiration and support, said that in 1961 it had just 200 units. Today it has 2,500 knitting and stitching units, another 750 dyeing and bleaching units and another 735 supporting units. ‘‘It is a classic success story,’’ said Mr Ravi Ramanna, a TEA official. Two other leading pillars of the TEA, Mr M. Duraiswamy and Mr S.R. Ponnuswamy, president and secretary of the bankers club, have spurred the growth in a big way. But this does not wholly explain the success of this long distance runner. Closeness to a harbour is one major reason, work culture another and the government’s efficiency, of course in comparison to Punjab, another major factor. But as TEA officials and other industrialists explained in their quiet manner, a five-point strategy was adopted. It consisted of multilateral growth of knitwear for exports, development of a good infrastructure, implementation of schemes for the benefit of society, setting up a textile-oriented fashion institute, a cultural centre and a school to produce talented managers. Promotion of constructive cooperation with workers and improvement of the quality of life in Tirupur complete the picture. Much of this is visible fast in all spheres. Ludhiana, the hub of industrial activity in Punjab, has all the advantages and grew very fast in all spheres of industrial activity. Being the leader of the green revolution it had capital flowing in. Tirupur is nowhere if the total industrial production of Ludhiana valued at Rs 13,000 crore last year is taken into account. But then in this particular area of hosiery of the cotton variety in specific at that, it stands beaten from Ludhiana the former Soviet Union purchased much of the woollen stuff. But it had 42,600 industrial units of various sizes employing 3.29 lakh workers and with a capital base of Rs 3,100 crore. No mean achievement in any case. But somewhere, Ludhiana lost to Tirupur in terms of knitwear, particularly in exports. A visit to a modern industrial complex here spread across 100 acres with 189 sheds exclusively to produce knitwear for export reveals the reasons. One, the work culture of both entrepreneurs and the workers is markedly different. Here the simple and intelligent workforce compares better with Ludhiana where migrant workers manning the units have less to offer. Also the gaudy boisterous style of business in Ludhiana is missing as are the dirt and squalor. This town, now growing into a city, is comparatively clean, workers are better looked after and the communication network is more modern. ‘‘We have across the board settlements with the trade unions. TEA and other associations play a very positive role. TEA officials reveal. (To be continued) |
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Punjab beyond rankings EVER since the reform process started, states have been struggling to attract investment. Many studies have been conducted to rank the states as investment destinations. Ranking has been done on the objective as well as perception basis. The latest joint study by CII and Rajiv Gandhi Institute for Contemporary Studies has boosted the morale of Delhi, Punjab and some other States. Simultaneously the Secretariat of Industrial Assistance (SIA) and the Ministries of Commerce & Industry have released data on investment. This data negates the findings of the joint CII study. According to the data, Maharashtra tops the states in terms of industrial investment proposals. Gujarat is the distant second followed by UP and Tamil Nadu and Andhra Pradesh. Between August 1991 and April 2000, Maharashtra attracted 19.54% of total investment proposals. Gujarat shared 13.3%, UP (9.74%), Tamil Nadu (9.56%) and Andhra Pradesh (6.84%). The ranking of the joint CII study also differs from that done by Business Today. Business Today had conducted three studies — in 1995, 1997 and 1999. According to the latest study of Business Today, 54% investors prefer Maharashtra; followed by Gujarat (47%), Andhra Pradesh (47%), Karnataka (36%), Tamil Nadu (32%), Madhya Pradesh (10%), Haryana (9%), Rajasthan (9%), Goa (8%) and Punjab (8%). On objective ranking Punjab improve its ranks from 8 in 1997 to 5 in 1999. The objective ranking was done by 34 objective parameters. Some important parameters have undergone change since then. For instance the average power tariff was taken as 243.20 which has crossed Rs 3 per unit. T & D losses were taken as 17.8% which are going above 30%. State Government support got 7th rank and policy implementation came with 6th rank. Ranks for these parameters are higher in the CII study. Punjab might have got the higher rank partly due to its smaller population. When CII’s study ranks Punjab at 7th for investment climate, it generates interest as ground realities are quite different. As for policy implementation, industry gets subsidies after a few years. The State Industrial Advisory Board meets after years. There is no regular interaction between industry and the Government Taxation policies are highly unstable. Unlike other states the Punjab Government has never taken industry’s problems to the Centre. Hardly any central minister connected with economic affair has visited Punjab. The Minister for Small Scale Industry has visited the entire country, except Punjab, which has the largest concentration of SSI units. Power has been given higher ranking for Punjab which is at variance with the actual situation. Getting power connection is an arduous job; apart from the high cost. Quality of power is going down fast. Cost of power both in terms of direct and indirect terms is going high as against the basis of objective ranking. As for governance, it is better not to comment on the Punjab Government. Even if by a stroke of luck the Chief Minister agrees to certain proposals it can take months to implement them. Tax collection is a sort of tax extortion. Political interference is the order rather than the exception. |
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Fujitsu may enter software sector CHANDIGARH, Sep 10 — Japanese telecom multinational Fujitsu has decided to close down its unit in Mohali following heavy losses, according to reliable sources. The 200 employees of Fujitsu India Telecom Ltd are being offered a voluntary retirement scheme (VRS), the sources said. About 120 employees were being served notices immediately while the remaining would be receiving them next month, a well-placed source told IANS. “The closure will be completed within the next two months,” the source said. There was no public announcement by the company, which was co-promoted by the Punjab Electronics Corporation with a “nominal” shareholding and a nominee on the board of directors. Mr Ramesh Inder Singh, Secretary for Industy and Commerce, said that Fujitsu, which was manufacturing electronic switches, had run up heavy losses due to a changed market scenario and a shakeout was “inevitable.” On reports that the employees would be retrenched, he said the Japanese giant was likely to diversify into other fields, including software production and may require a change in the “skill levels” of its employees. He said the role of the state government and its electronics corporation was that of a “facilitator” and, in this case, the entire management was in the hands of the Japanese promoters. “The company’s new management representative has met me and we are discussing about diversification, not about closure,” he said. The Fujitsu setback has come at a time when the state government is projecting Mohali as the new information technology (IT) destination. Several electronic component manufacturers based in Mohali also face similar financial troubles. Intermittent power breakdowns have made matters worse. A software manufacturer from the Silicon Valley, who is in the process of setting up his unit in Chandigarh, said that he had counted 12 power breakdowns during the last 24 hours in Mohali. — IANS |
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E-com computer for less than Rs 10,000 MUMBAI, Sept 10 (PTI) — Dutch computer security solutions company, CPS Europe BV has introduced in India an e-commerce enabling computer, to be positioned between palm-top and laptop Internet access devices. ‘‘The computer, with an attached phone, remote access and card-based instant payment features, can also be used for accessing text messages like e-mails, besides enabling e-commerce and home banking functions,’’ CPS Europe Manager (sales) Arno van der Heijden told newsmen here. Unlike personal computers (PCS) which take sometime to access the Internet, the device would give quick access to designated e-commerce and banking sites, he said. The company would sell the computer, costing less than Rs 10,000, through tie-ups with institutional sellers like supermarkets and banks, to make it available at a lower price, he said, adding that they have appointed Mumbai-based Suntel Electronics (India) Ltd (SEIL) to manufacture, customise and market the device. SEIL Managing Director Uttam Jain said the device would be manufactured with 70 per cent
indigenisation. |
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Kribhco AGM NEW DELHI, Sept 10 — Member societies of Kribhco have demanded early clearance of its pending projects so that its vast reserves can be gainfully utilised. More than 500 delegates from all over the country attended the society’s 20th AGM held here last Thursday and pleaded for quick approval of Hazira Expansion Project estimated to cost of Rs 1,318 crore. The meeting was addressed, among others, by Mr Chandra Pal Singh, Chairman, Mr P.P. Singh, MD and other Directors. The Chairman assured the house that the project would be cleared soon. |
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by J.C. Anand Why Vikas, Sterlite have gained so much THERE are strong indications that the stock market is likely to make substantial gains this week. Select technological shares are expected to forge ahead. Even last week, the market gained 1.36 per cent in Sensex and 1.56 per cent in Nifty and many scrips hit the upper freeze band; some of these were Global Tele, Moser Beer, Silverline, Sun Pharma, TVS Electronics, Crest Communication, and Framatone. Sterlite Industries closed at Rs 1046.30,Vikas WSP at Rs 1100.55, Infosys at 8555.30 and Satyam at Rs 637.10. The substantial rise in Vikas WSP and Sterlite can be easily accounted for. Vikas is in “no delivery period” till September 20, and this is the time when traders get overactive. The floating stock is also very low. According to the company’s statement, there are only 10.35 per cent shares with small investors in India. The promoters have 54.32 per cent of equity, another 21.18 per cent is held by FIIs and 15.5 with the Indian FIs and NRIs. Moreover, the company’s shares have come under compulsory Demat since August 28. Those small share-holders who have not got their shares under demat cannot sell their shares. Already there is a difference of about Rs 100/- per share between the demat shares and odd lot shares, the former quoting around Rs 1,100 and the latter at Rs 1000 or so. The company is taking unusually long time to transfer shares and there is a big volume of shares lying with the company for transfer. This also makes for the scarcity of floating stock in the market. Even after these shares have been duly registered and transferred in the names of those who had lodged them, the position is not likely to improve much. These shares will have to be submitted for demat and this may take from 25 days to two months. When the demat position of the Vikas WSP shares is achieved, the market price of the scrip is likely to fall by at least 20 to 30 per cent. It was for this reason that last week, I had recommended to book profit in case the share-holder has demat shares of the company. Sterlite scrip is quoting around Rs 1046 for two reasons: after the long-distance telephony is opened up, the telecom industries will gain, and secondly the news that in October the company will be split up into two companies, one dealing with cable industry and the other with copper smelting. This splitting up is not expected to bring any gains to those who are holding these shares. The company which is to take up the cable industry will soar higher but the other is expected to sag by comparison. There are reasons why I expect the market to spark up this week. The tax collection from the corporate sector is very encouraging presaging good performance by the corporate sector. The second quarter results are expected to be good. It is also expected that the OPEC might cut down the prices of the petroleum products. This meeting is expected to take place soon. |
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Q: The housing loan for residential flat in cooperative society was sanctioned by my employer on 27.7.98. The loan was to be disbursed in stages. First such instalment was disbursed on 31.7.98 and the last on 15.4.99. The flats are under construction upto stage of lentre without any sewerage or electricy connection as yet. The physical possession, as such, is yet to be handed over to allottees. 2. Further, I availed at, commercial rate of interest on ‘additional housing loan’ as revised estimate - from the same employer availed & disbursed both after 1.4.99 (pertaining to the same property). Please advise us as to whether deduction at source U/S 24, is entitled for Rs 75,000 (viz full extent vis-a-vis Rs 30,000) in all aforesaid two cases.
— Mukesh, Chandigarh Ans: In respect of the loan disbursed to you upto July 31, ‘98 the maximum interest on loan which would be allowed as a deduction would be Rs 30,000 per annum. However, in respect of the loan which was disbursed on April 15, ‘99 you will be entitled to higher interest deduction which will be over and above Rs 30,000. Thus, the overall deduction for interest would be limited to Rs 75,000 per annum. For the A.Y. 2001-2002 the maximum interest to be allowed deduction in respect of loans taken on or after 1-4-99 is Rs 1,00,000. Q:
I am in Haryana Government service. I have undergone Coronary Arteries Bypass grafting/Open Heart Surgery in the month of April ‘99 in Escort Heart Institute, New Delhi. I was referred by the Civil Surgeon, Ambala for the treatment. I was discharged from the hospital after 23 days and charged a sum of Rs 1.85 lakh after granting Rs 0.21 lakh as subsidy. However, recurring expenses have increased due to post-surgery check-up, travelling and medicines. The expenses are quite exorbitant and beyond my capacity to bear. Frankly speaking, extra expenses of Rs 65,000 which are not reimbursable have been made after borrowing money. I am entitled to get as per rate of AIIMS i.e. equivalent to amount charged by AIIMS Hospital and 75 per cent of the balance. My questions to your good honour are that:- 1) Whether I am entitled to any rebate in Income Tax being heart-patient? 2) What you will propose so that I am saved from Income Tax in maximum? My total salary comes around Rs 1.50 lakh and my saving including CPF, LIC, Investment towards plot of HUDA for enhancement is not more than Rs 0.26 lakh. 3) How much rebate or concession is admissible for contribution towards War Heroes Funds and Famine Relief Fund? 4) Whether interest paid on HB advance is fully deductible from gross income in a year. — Gian P. Kansal, Ambala Ans:
No tax rebate is permissible to you for being a heart patient. Unfortunately even the extra expenses incurred by you towards post surgery, check-up, travel, medicines, etc are not allowed tax deduction. You should invest a maximum of Rs 80,000 U/S 88 of the Income-tax Act to avail maximum tax rebate from tax payable amounting to Rs 16,000 per annum. Tax deduction U/S 80G for contribution to selected specified fund is @ 100%. Please ensure whether the fund to which you have contributed is coming within the tax deduction bracket of @ 100 per cent. In the alternative, donations to other funds are entitled to deduction U/S 80G @ 50 per cent only. The interest paid on house building advance would be allowed as a deduction to the maximum extent of Rs 30,000 per annum, incase the housing loan is taken upto 31st March, ‘99. However, in respect of housing loan taken on or after 1st April, 1999 the deduction on account of interest on loan would be to the tune of Rs 1,00,000 per annum as per latest amendment by the Finance Act, 2000. |
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by K.R. Wadhwaney Two sets of bidders for Air India TWO consortiums have been formed to buy equity in Air India, which is now decidedly for sale. One consists of British Airways, Emirates and Jet Airways, while another comprises Singapore International Airways, Virgin and Tata. Reliance is said to be bidding independently. The aviation watchers are unable to confirm whether ITC will jump into fray or not. Apart from all these, there are several other airlines which are quietly watching goings-on in Air India. Two consortiums have not officially announced their partnerships but they are convinced that its several un-utilised routes can be very lucrative. British Airways Chairman Colin Marshall was in the Capital. He made inquiries from Minister of Civil Aviation Sharad Yadav and Minister for Disinvestment Arun Shourie. Aviation analysts feel that BA’s interest in Air India has increased considerably because it does not want to surrender any area of play-ground to its arch rival, Virgin Atlantic Airlines. Virgin has already established “tie-up” with Air India but, contrary to expectations, fares on this golden sector,” India-UK-India, have not tumbled down. “The period of four months or about are not enough to evaluate market”, said airline officials. The entire process for disinvestment is expected to be completed before the financial year of March 31, 2001 ends.
Daily service Swissair has started operating daily services from Delhi and Mumbai for Zurich. The increased flights ex-Delhi and Mumbai have reduced congestion for flying to Europe. Swissair offers many connections from Zurich to different destinations in Europe and the USA.
Airports maintenance The R.C. Jain Commission on maintenance of airports in the country has criticised the authorities involved in controlling security of airports and safety of passengers. The report says that “our airports are much below required international standards in safety, security, facility and service. The report says: “There is systematic failure and human failure in maintaining high safety standards. Maintenance of airports is so sub-standard that I am surprised how untoward incidents are not happening every other day,” says Mr Jain. What has pained the commission is that the Airports Authority of India (AAI) has plenty of funds but they are not being utilised for the development of the airports. “There is utter lack of commitment on the part of those who manage and maintain airports. |
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Now KBC in Tamil too CHENNAI: With Sun Television Network, all set to launch its own “millionaire” TV game show in Tamil next month, game show frenzy whipped up in India by the popular ‘Kaun Banega Crorepati’ (KBC) may soon reach new heights. Sun Television Network’s ‘Kodeeswaran’ (millionaire in Tamil), to be launched in October, will be hosted by popular Tamil film actor Sarat Kumar just like KBC which is hosted by Bollywood superstar Amitabh Bachchan. The mastermind behind the Tamil game show is master-quizzer Derek O’ Brien of the Bournvita Quiz Contest fame. Derek, familiar with Tamil Nadu’s quizzing schools, will also direct the show. The show will however not cut into KBC’s viewing time but capture weekend prime time, 9 p.m. to 10 p.m. on Saturday and Sunday, slots that are currently occupied by films. The maximum prize money, like KBC, will be Rs 1 crore for every winner. The concept will be regionalised, however, Sun TV told the media. “The content has been localised to go with the pulse of Tamil Nadu” and anyone who understands Tamil can join the fun. — IANS Unichem Lab to launch Viagra MUMBAI: Unichem Laboratories Ltd, the Rs 200-crore Indian pharmaceutical company, will launch “Saildenafil”, know internationally as Viagra, in the country under the brand name “ERIX”. ERIX, used in the treatment of erectile dysfunction, will be available in 25 mg, 50 mg and 100 mg easy-to-swallow tablet form, says the company. The current treatment options available nationally and internationally are hormonal replacement, surgery, penile prosthesis, vascular surgery, vacuum devices and topical treatment. — IANS Student wins $20,000 NEW YORK: An Indian Amrican doctoral student has received the top prize of $ 20,000 and his faculty adviser, who is also an Indian Amrican, has been awarded $ 10,000 in a national invention competition for college students co-sponsored by US federal agency. Balaji Srinivasan, who is pursuing his doctoral studies at the University of New Mexico at Albuquerque, New Mexico, was one of the seven top winners of the Collegiate Invention Competition organised by the National Inventors Hall of Fame. The adviser for Srinivasan’s prize-winning entry was Ravinder K. Jain, Professor in the Electrical Engineering and Computer Engineering Department at the university. — IANS |
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