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Sunday,
August 12, 2001, Chandigarh, India  
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Kar Samadhan scheme has failed: CAG
Dhumal lays foundation stone for tractor unit
UN to help India in Tenth Plan?
Cluster approach to promote handicraft Selloff in ONGC, IOC, GAIL ruled out |
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Microsoft programme in YMCA
institute Yahoo to pay
its CEO $310,000 PNB revises deposit rates Snowcem, J&N to tie
up
Overseas flights from Kerala soon
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Kar Samadhan scheme has failed: CAG New Delhi, August 11 The scheme intended to declog tax administration by providing for abatement of 50 per cent of the duty and full waiver of penalty, interest and immunity from prosecution, managed to clear only 12.78 per cent of pending cases, realising 8.64 per cent of the outstanding revenues. “The scheme envisaged an abatement of 50 per cent of the outstanding: however, Rs 623.82 crore of revenue was foregone to realise 400.85 crore”, the Comptroller and Auditor General of India said in its latest report on indirect taxes. The additional sacrifice of Rs 222.97 crore which was 54.58 per cent of the amount realised was on account of waiver of penalty, interest and fine. Though there were a total of 77849 cases with an amount of Rs 11865.07 crore locked up in dispute, only 9951 cases were cleared under the scheme, which involved a total amount of Rs 1024.67 crore. Assessees who had weak cases used the scheme as an escape route to avoid paying their entire arrears. The duty forgone to the Government as a result was Rs 239.84 crore. Surprisingly, according to the CAG, the response from the public sector undertakings was extremely poor. One of the reasons attributed for this trend was that in the public sector, there was a tendency to keep fighting the cases, otherwise the responsibility for that would have fallen on some officer. Audit scrutiny revealed that of the 2814 cases with a total amount of Rs 1830.16 crore outstanding against public sector undertakings, only 322 cases (11.44 per cent) were cleared involving revenue of Rs 77.11 crore (4.21 per cent). “This reflects on the efficacy of the scheme. It failed to enthuse even the companies under the administrative control of the Government,” the CAG said. Revenue of Rs 83.31 crore was foregone by incorrect settling of 253 cases under the scheme though the scheme was not applicable in such cases as neither any appeal was pending for decision nor any show cause notice was issued by the department. Incorrect determination of tax arrears under the scheme resulted in loss of revenue of Rs 14.87 crore. Referring to the defective implementation of the scheme, the CAG pointed out that the KVSS was not applicable in cases where no appeal or reference or writ petition was admitted and pending before any appellate authority or the courts. However, audit scrutiny revealed that 240 cases were settled under the scheme even though no appeal at any stage was admitted and pending in these cases, as per the provisions of the Act and rules and the clarifications issued by the Government. A few cases test checked related to Chandigarh. It was found that 47 declarants in Chandigarh 1 Commissionerate of Central Excise, filed declarations involving tax arrears of Rs 1.12 crore on the same day on which they had filed an appeal with the appeallate authorities against the confirmation of demands by adjudicating officers. Apparently, the appeals were filed only with the intention of availing benefits under the scheme. No samadhan was required as there was no pending dispute in this case. A revenue of Rs 0.77 crore was foregone due to acceptance of these cases. In another case in Chandigarh 11 Commissionerate of Central Excise, an assessee who was directed to pay Rs 80 lakh duty on galvanised steel wire, besides a personal penalty of Rs one lakh, filed his declarations under the KVSS scheme even though he did not appeal against the decision. He declarations were accepted and the Government lost Rs 40 lakhs in revenue. In fact, to cover up the lacunae, the assess filed an appeal one month after the acceptance of his declaration. He also filed another declaration under the scheme on the same day for waiver of 50 per cent of personal penalty of Rs one lakh imposed by the adjudicating authority which was also accepted.
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Dhumal lays foundation stone for tractor unit Baddi, August 11 He was addressing the public after the stone-laying ceremony of a tractor unit in the export part area here. The Indo-farm tractor unit is undertaking the manufacture of 50 horse power tractors in collaboration with URSUS of Poland and will use the latest technology of Perkins engine. Committee comprising members from the industries would be set up to assist the government in introducing those trades in the polytechniques and ITIs whose students can be readily absorbed in the industries. He emphasised the need for inducing 65 per cent Himachalis in the industrial units and stated that those belying this criteria would be severely dealt with. There was a need to promote fruit processing units in the state so as to utilise the readily available raw material of fruits in the state. Mr M. Venkaiah Naidu, Union Rural Development Minister, while speaking on the occasion said that the Centre was committed to bridge the gap between the rural and urban people by encouraging the opening of more industries in the rural sector. A sum of 70 crore will be spent on building roads in the rural areas and it was expected to provide roads to the far-flung areas in the coming years. Others present on the occasion included Mr H.N. Saini, Town and Country Planning Minister, Mr Kishori Lal, Industries Minister, Mr Virender Kashyap, Chairman, Marketing Board local MLAs and other dignitaries.
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UN to help India in Tenth Plan?
New Delhi, August 11 UNIDO Representative and Regional Director in New Delhi George Assaf said the challenges India faced required enormous efforts and resources. The Indian industry faces four major challenges and threats from globalisation UNIDO has said. “Building global competitiveness and increasing India’s share in total world exports, enhancing access to global markets, intellectual property issues and trade facilitation are the four far-reaching aspects of globalisation to head the list of 10 major challenges to the Indian industry”, UNIDO said in its country service framework for India. The UNIDO framework was discussed at a workshop on “Facing the challenges to Indian industry” here today. The other challenges faced by the industry relate to India’s internal systems and policies, raising domestic and foreign investment, upgrading technology, combating regional industrial development imbalances, disinvestment, restructuring and industrial sickness, promotion of small and medium enterprises, and achieving environmentally sustainable industrialisation. The document highlighted building global competitiveness and India’s share in total world exports in the context of the World Trade Organisation regime. “WTO agreements and technological changes are pushing global trading opportunities to new heights. In an increasingly globalised world, global competitiveness — particularly in terms of quality — is becoming a pre-requisite to rapid economic and industrial growth”, it said. Exports from India are predominantly low-technology or resource-based, which generally grow slowly compared to high-technology products. “In the long-run, India cannot have sustained growth with a reliance on resource-based and low technology manufacturing and exports. This is evident if one notes that the annual growth rate for total world exports during 1980-1997 was, on average, 7 per cent. But the growth rate for high-technology exports for the same period was 11 per cent”, the framework document said. Besides challenges for the industry the document has also dealt comprehensively with issues like poverty alleviation and sustainable development. UNIDO said while it would be unrealistic to expect that it could eliminate poverty in India, but it could provide catalytic support and complement the efforts of the Indian Government and the people. The poverty alleviation is suggested as one of the major cross-cutting themes for the framework in India. What it means is that all UNIDO programmes in India should have poverty alleviation as an overall goal. On funding prospects from the donor countries, it said since 1999, there had been a marked improvement in the external assistance situation. Several major donors are looking at environment, poverty reduction, gender equity, food security, human rights and child labour issues for developing their future programmes. Currently India is a priority assistance recipient country for Denmark, Germany, Japan, the Netherlands, Sweden, Switzerland and Britain. These donors are likely to be the major donors to fund future UNIDO projects.
UNI
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Cluster approach to promote handicraft Srinagar, August 11 This was revealed at the 21st annual general meeting of J&K Handicrafts (Sales and Export) Corporation held yesterday under the chairmanship of the Industries and Commerce Minister, Dr Mustafa Kamaal. The meeting reviewed the performance of the corporation during the current financial year, an official spokesman said. Managing Director of the Corporation Irfan Yaseen informed the meeting that during the current financial year, the corporation had fixed a sales target of Rs 11.5 crore. The corporation conducted sales of Rs 2.22 crore ending July, 2001 against the sales of Rs 95 lakh conducted in the corresponding period during the last financial year. During July this year, sales to the tune of Rs 67 lakh were conducted against the sales of Rs 30 lakh conducted in July, last year. Thus, by July end, the corporation’s sales have registered more than 100 per cent increase. This is despite the fact that the period from April till August is a lean season for the handicrafts business in the country. A proposal for the purpose is being submitted to the Ministry of Commerce, Government of India for sanction of assistance for this purpose. The strategy mainly focusses on brand promotion of the Kashmir handicrafts, product development, assessment and survey of new and existing markets, holding of exhibitions in international markets. The meeting was told that the sanction of 50 per cent of the cost of construction of Tehzeeb Mahal at the site of the gutted emporium building in Srinagar had been accorded by the Ministry of Textiles, and the foundation stone of the building is likely to be laid by the end of this month. This will be a big facility for the artisans and the people involved in handicrafts industry.
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Selloff in ONGC, IOC, GAIL ruled out On Board Sagar Samrat, August 11 Addressing a gathering of oilmen on board the Sagar Samrat, the country’s first jack-up rig, he said that ONGC is strategically important for India and hence disinvestment cannot be allowed. “Under no circumstances privatisation in ONGC would be allowed,’’ he said and added that disinvestment will also not be allowed in GAIL and IOC. “I believe that privatisation of strategic organisations like Railways and ONGC must not be allowed,’’ he said while denying media reports on proposed disinvestment of oil companies. He said the price regulation on diesel, petrol, liquefied petroleum gas and kerosene will be removed with effect from March 31, 2002. The price regulation for the aviation turbine fuel was removed from the beginning of this financial year. He, however, added that there would be some subsidy part in kerosene and
LPG so that the burden is not felt by the consumers. UNI |
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Microsoft programme in YMCA
institute Faridabad, August 11 The Principal Secretary to Haryana Chief Minister, Mr S.Y. Quereshi, inaugurated the programme here yesterday. According to institute officials, the programme had been started following an agreement between the Haryana Government and the Microsoft in which the latter had agreed to launch its certified programme in one of the engineering college of the state. The multinational has supplied software worth $ 3,5000 in the first phase. Mr Qureshi said that the state government was committed for fast development of information technology in Haryana. He said Haryana’s software export had reached to Rs 2200 crore a year and the state would soon be among frontrunners in the IT field in the country. “The state would now ‘supply’ IT professionals to Metros like Delhi instead of becoming a source of only constables and bus conductors, he quipped in a lighter vein. He said state website on internet was regularly checked and upgraded, so as to provide latest information on various topics. |
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Yahoo to pay
its CEO $310,000 Sunnyvale (California), August 11 Half the options give Semel the right to buy Yahoo stock at $17.62 — the market value they had when they were granted, on April 16 — while the others are priced as high as $75 a share, according to the report filed yesterday. Semel also bought one million shares of Yahoo stock that day at $17.62 each. Shares in the Internet company fell 86 cents yesterday to close at $15.42 on the Nasdaq Stock Market. The stock is well off its 52-week high of $140. Semel took over as Yahoo’s Chief Executive and Chairman on May 1, replacing Tim Koogle, who had been with the company almost since its inception. Semel has been asked to help return Yahoo to consistent profitability and diversify its revenue sources. Advertising accounted for about 90 per cent of Yahoo’s $1.1 billion in sales last year, and executives have said their goal this year is to reduce that figure to 80 per cent.
AP |
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PNB revises deposit rates New Delhi, August 11 For deposits of less than Rs 15
lakh, the rate of interest for 30-45 days has been brought down to 5.25 per cent from 5.5 per cent, a PNB statement said here. The bank has also reduced the rates of maturities of 1-2 years to 8 per cent and for 2-3 years maturity it is 8.5 per cent, it said. The maximum rate for three years and above maturities has been reduced to 9 per cent from 9.25 per cent. However, the interest rate for 46-179 days has been increased from 6 to 6.5 per cent.
PTI |
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Snowcem, J&N to tie up Mumbai, August 11 The JV is dedicated to bring the selling arm of both companies for all their decorative products together as a market force, SIL said in a release here today after boards of the two companies approved the strategic alliance. SIL Vice-Chairman and Managing Director T.B. Ruia said “given the ground realities, it makes sense for us to join hand with a leader in the decorative coatings segment”. The JV would provide customers with a complete range of high-end architecturalaints and decorative coatings, he added.
PTI |
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Overseas flights from Kerala soon Indian Airlines and Air India will be the gainer as additional operations begin from Kochi to Sri Lanka, Singapore and Gulf countries before the end of the year. The two carriers are currently busy working out modalities on frequencies and routes. The operations will start as soon as dry-leased aircraft join the fleet. Kerala airport has already been upgraded and further improvements are being made to meet the challenges of growing traffic and operations. Minister for Civil Aviation Sharad Yadav has said fresh bilateral agreements are being signed with several foreign airlines. Gulf Air and Air-Silk Air are among half-a-dozen airlines which have envisaged interest in signing the pact. Some other major airlines may also jump into the fray as Kochi is a very lucrative market. Additional operations will help promote tourism to Kerala which has beautiful beaches. Like Kerala, Goa is another destination, which needs upgradation. There is an urgent need for more quantum of direct flights to Goa, which is one of the most attractive tourism hubs for Europeans and Americans. Code-sharing has been a satisfactory exercise, if not exactly very fruitful. But the two national carriers have no option except code-sharing because their fleet is meagre. In view of the existing scenario, the national carriers may opt for code-sharing instead of allowing free and independent play-field to the foreign airlines. Air India has earned Rs 245 crore via seat sharing in 2000-01. Whatever may be said for and against Air India, the brand value of the Maharaja stays intact despite code-sharing and bilateral agreements. What is most significant is that operations from other airports, like Kochi, will reduce congestion at Mumbai and Delhi airports which cannot cope with increasing demands unless sufficient expansion of the two airports is undertaken.
Sahara Airline Sahara Airline is determined to increase its market share. It is entering into collaboration with some foreign carriers for maintenance of aircraft. The airline has started many innovative schemes to woo passengers. It is endeavouring to increase its passenger load although it continues to be behind Indian Airlines and Jet Airways. |
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by Praful R. Desai Recognised
institution Q : Even at time of letting, the tenant must be a person running recognised educational institution ? Ans : In George v Ramachandra Reddiar (2001 (1) RCJ 529) Kerala H.C. was expressing the view thus: What S. 11 (11) of the Kerala Rent Act contemplates is the case of letting out a building for use as an educational institution and the building being actually used as an educational institution, provided that, the institution has been recognised by the Government and a protection from eviction so long as the said recognition continues. On a true interpretation of the provision, it appears that to attract S. 11 (11), it must be a case of a letting out for use of a recognised educational institution and the building being actually used for running the educational institution. According to the HC, the proviso
occurring in S. 11 (11) (ii) would clearly lead to the conclusion that even at the time of letting, the tenant must be a person who is running recognised institution or the tenant must be an institution that has been recognised. Therefore, S. 11 (11) takes within its preview, only cases where the letting is for use of a recognised educational institution and the building is actually used for that educational institution. Further, if George is only a sub-tenant, it may not be open for him to challenge the claim for eviction U/s. 11 (2) or S. 11 (3) of the Act or to rely on any of the provisos to those sub-sections as has been held by this Court. It is also doubtful whether as a sub-tenant George can rely on S. 11 (11) to raise a contention that the claim for eviction as against the tenant. Case of Thankappan should be dismissed on the basis of S. 11 (11). Since the HC have already held that the joint tenancy set up by George has not been established, the position would be that George would not be entitled to raise the objection based on S. 11 (11). |
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Dabur Foods SBI branch IBM System Forex reserves Philips India |
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