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Sunday,
April 7, 2002, Chandigarh, India  
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Mahajan
invites foreign investors Centre
gives incentives to Hafed DD
Jalandhar earns record revenue Hudco to
focus on Gujarat projects M. R.
Chhabria dies at 56 Handle
economic issues with care Opportunities
in Canada open up
Flights
to China to cement ties |
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Recovery
of dues
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Mahajan invites foreign investors
New York, April 6 The IT sector is fast expanding and provides a huge market, especially in the area of telecommunications and telephony, he told a luncheon meeting of investors and top officials of major corporations at the New York Stock Exchange. Besides, it has highly skilled workforce, is cost-effective and the government is supportive of induction of fresh capital, he added. “The administration’s attitude has completely changed and now it has metamorphosed into a facilitator from a regulator. That itself should encourage them invest in India,” Mahajan added. The second generation economic reforms in India were the result of "conviction and consensus", he said. Indian entrepreneurs should become global in the real sense and raise money outside the country to become competitive, he said adding he supported Indian companies registering in foreign stock exchanges. Top Indian and American company executives interacted at a day-long session which was closed to the press including this correspondent. Mahajan told investors not to be deterred by turmoil in Afghanistan and Pakistan, pointing out that while Israel and Palestinians are on “shake hand” distance, Indian technology centres in Bangalore, Hyderabad and other places are far off from areas of turmoil. The fact that India was able to sustain a growth rate of more than six per cent even during world economic recession shows the strength of its economy, he said. Mahajan had the honour of ringing the opening bell at the New York Stock Exchange in the morning and quipped that when in school, he always wanted to ring the closing bell. Nine Indian companies are registered at the exchange. These include Dr. Reddy’s Laboratories Ltd, Wipro Ltd and Satyam Computer Services Ltd, Videsh Sanchar Nigam Ltd, Mahanagar Telephone Nigam Ltd, Silverline Technologies, HDFC Bank, ICICI Bank Ltd and ICICI Ltd.
PTI
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Centre gives incentives
to Hafed New Delhi, April 6 This was stated by the Haryana Chief Minister, Mr Om Prakash Chautala after a meeting here last evening with the Union Food Minister, Mr Shanta Kumar. The Chief Minister informed that the State had also allowed to deliver levy on paddy purchased from outside the state. He said that the Union Food Minister had also assured that the request of the State Government to accept maximum direct deliveries of wheat by FCI during the rabi procurement season would be considered favourably.
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DD Jalandhar earns record revenue
Jalandhar, April 6 Meanwhile, apart from initiating a number of new Punjabi programmes, the kendra has also planned to go hi-tech by introducing the round-the-clock insertion of latest scrolling news in Punjabi in most of its popular programmes, except from the ones based on music and entertainment, from April 8. Talking to The Tribune, Mr Ashok Jailkhani, the Director, Jalandhar Doordarshan Kendra, said the DD Jalandhar has recorded a steep hike in its revenue this year by earning an amount of Rs 7.5 crore from different sponsored and other Punjabi programmes as compared to Rs 4.75 crore, earned during last year. "With this, we have achieved a distinction of being the single largest revenue earning station in the country. The achievement is more important as we operate in a small area, mainly confining to Punjab, as compared to other stations, operating in bigger states," said Mr Jailkhani. Interestingly, the largest revenue collection was recorded by popular "Punjabi" music based "Lishkara" programme and "Yug", a new Punjabi serial based on freedom struggle, the rights of collection of advertisement of which have been given by the DD to some private party. According to Mr Jailkhani, the DD was going to follow the new international trend by introducing scroll bar based on latest news in Punjabi in most of its programmes from April 8. "By this, we will be reaching to our audience with latest news headlines," said Mr Jailkhani, adding that this step will also enable the DD to compete with other International channels and to enhance quality of programmes. "Apart from business news on DD Punjabi channel, we have also introduced a unique programme, "Saade Naal Challo," at 9 p.m. on every Tuesday, with the help of which we will take our audience to different places of tourist interest. This another first time as far as Punjabi channels are concerned," said Mr Jailkhani.
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Hudco to focus on Gujarat projects New Delhi, April 6 Addressing newspersons on Thursday, Chairman and Managing Director V. Suresh said the company’s projects are already underway in the areas hit by the earthquake in Gujarat last year. Earlier in 1993 it had constructed houses in quake hit Latur of Maharashtra. Informing that Hudco has earned a gross profit of Rs 373.21 crore in 2001-2001 against Rs 316.36 crore the previous year, Mr Suresh said the company sanctioned an amount of Rs 8,140 crore and disbursed Rs 4,652 crore during the year, exceeding the target of Rs 7,150 crore and Rs 4,650 crore, respectively. The company mobilised Rs 5,073.11 crore as against the target of Rs 4,350 crore. Describing the performance of the company in fiscal 2001-2002 as commendable, he said the company excelled in all sectors be it in its assistance to a large number of people through Hudco Niwas scheme, or its technology transfer initiatives. The sanctioned loan assistance would help in taking up over 7.36 lakh housing units, development of 12,477 plots, over 3 lakh sanitation units besides implementing 91 urban infrastructure projects throughout the country, the Chairman observed. Cumulatively till March 31, 2002, it had sanctioned 14,866 schemes involving a total project cost of Rs 78,460 crores with Hudco’s loan component of Rs 42,011 crore. Other areas of its operations included a special initiative in the north-eastern region, development of urban infrastructure, water supply, sewerage/drainage schemes, waste management efforts, low cost sanitation schemes, commercial schemes, area development projects, transport sector, integrated development of small and medium towns programme, social infrastructure and taking technology to the doorsteps. About the future plans, he said that the company would join hands with private sector for development of roads and highways.
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M. R. Chhabria
dies at 56 New Delhi, April 6 He is survived by his wife and three daughters including Ms Komal Chhabria Wazir, who is an Executive Director in his Indian flagship, Shaw Wallace and Company Limited. Mr Chhabria was the founder and head of the Jumbo Group, a 1.5 billion transnational conglomerate with presence in 50 countries, employing over 20,000 people. He headed many prominent Indian companies such as Shaw Wallace, Dunlop, Hindustan Dorr-Oliver, Mather and Platt, Falcon Tyres and Gordon Woodroffe altogether having an asset value of $ 600 million. A Harvard University business graduate, Mr Chhabria established the Jumbo Electronics Group in Dubai in 1974. Currently, Jumbo Electronics is the largest distributor of consumer and professional electronics in the Arabian Gulf. His cremation will be held in Mumbai on Sunday.
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Handle economic issues with care After elections and changeover of the government in Punjab, it is the time for burdening industry and trade. By raising much hue and cry to show empty coffers, sufficient background has been prepared. Two significant issues have become contentious — the reintroduction of octroi and hike in power tariff. No alternative source of revenue to the municipalities was evolved after abolishing octroi, apparently as it was election time. Now it is the time for civic elections. As a matter of principle, every citizen must participate in the revenue-raising exercise. Political expediency won’t allow this just before the civic poll. Should that mean the industry and trade should be loaded with this burden? The reintroduction of octroi will be taken as a most retrograding step. This step regarding octroi loaded with all the vices has given a minor relief to the industry in this highly competitive era. Apart from being a hinderance to the movement of goods, octroi provision was highly misused for political ends. Octroi post was raised at every small town and task of collection was given to party workers the name of privatisation. The government has a handy solution for the alternative source of revenue. All states have levied 4 per cent sales tax under uniform taxation policy on fertilisers. Punjab is perhaps the only exception. This tax will generate a revenue of around Rs 400 crore. Bulk of this can be given to the municipalities. As a matter of principle, revenue collected through cars and other modes of conveyance should go to civic bodies. This is not being done. The number of cars and other vehicles is growing at an alarming pace. Then principle of user’s charges should be applied and every citizen must pay the individual share. The industry is already contributing the revenue through house tax which stands exempted for residential buildings. The state’s revenue mainly comes from the commercial sector, prominently the industrial sector. So there is no scope for burdening the industry while evolving an alternative source. If octroi has to be reintroduced, then its scope should be limited to only district-level cities. All inputs being used for industrial production should be exempted from octroi. Movement of industrial goods between cities too should be out of this purview. Most of the goods of public consumption come from outside the state. So every citizen will share the burden. Most of the industrial production goes out of Punjab and the industry will be able to stay in the price competition. Another issue which is making the industry most restless is the power tariff hike. The Punjab Government takes pride in the fact that rates are lower in the state. It is a pity that today’s rulers take pride in being less messy than the others. We should look at the complete picture. Today’s survival of the industry depends upon cost-effectiveness. If power rates are higher at places near ports, it hardly matters. Other inputs are comparatively much cheaper. These are serious economic issues for the state and the government should act in a most cautious way.
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Opportunities in Canada open up Chandigarh, April 6 He added that now provinces have a direct hand in the identification of the skilled individuals who could provide significant industrial and economic benefit to the province under this programme.
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by K. R. Wadhwaney Flights to China to cement ties After decades of procrastination and occasional hostilities, the direct air link between India and China was established. Amidst rousing reception and traditional welcome flight with a 66-member Chinese delegation passengers and guests landed at the airport. “The flight marks the beginning of a new era between the two countries to strengthen ties,” said Bao Peide, Chinese Vice-Minister for Civil Administration, adding-that: The flights under bilateral arrangement will enhance our contacts in the economic, technical and cultural areas”. The China Eastern Airline will initially operate two flights a week from Beijing and Shangai. Both are non-stop flights. Under the agreement, which was signed in January, 2002, the airline can fly to two destinations Delhi and Mumbai. On reciprocal arrangement, Air India is entitled to operate two flights to Beijing and Shangai. Chinese Airline is operating flights from Beijing on Tuesdays and Shangai on Fridays. Chinese officials are optimistic that the operations between the two countries will be financially rewarding. Similar sentiments were expressed by several travel agents at the grand get-together organised by Inter Globe. The fares will be competitive to encourage common people to travel to and from China. China, like India, is rich in scenic beauty. It has a developed tourism concept. What is most vital is that the government lays special emphasis on aviation and tourism sectors. This is unlike India which has shockingly neglected these two money-making areas.
Lounge in sky British Airways has been one of the very few carriers which has successfully maintained its services even after September 11 terrorist attacks in the USA. According to Alan Briggs, General Manager, the September 11 scenario is behind us and since flights are now operating with virtual full load, the fares may have to stabilise on higher rate. BA has introduced fully flat bed, which is known as a “lounge in the sky”. It is meant for business class travellers, who need to work and sleep on long-haul trips. Similarly, there are several innovations for economy class passengers, including doubled hand-baggage allowance.
Non-stop service Lufthansa has started operating Boeing 747-400 daily non-stop flight between Mumbai and Frankfurt. With these two additional flights, the airline becomes the only one to provide daily non-stop service to Frankfurt. The airline now offers 20 flights a week between India and Germany with daily flights out of Delhi and Mumbai and three flights each from Chennai and Bangalore. |
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by Praful R. Desai Recovery of dues Q: Can the plea that conditions in appointment offer not fulfilled, stand in the way of recovering dues when he has worked in that capacity? Ans: Delhi H.C. was dealing with this in Kailash Chand Union of India (2002-I-LLJ-587). Shorn of technicalities, it is a matter of record that respondents had treated the petitioner as the Production Assistant from day one till 4.10.93 i.e. 6.7.85 to 4.10.93 and had extracted the work of the Production Assistant from him for this period which could not obviously be gratis. It is not open to them now, held the H.C. to turn their back to reality and to deprive petitioner of his due. The H.C., accordingly, held that petitioner will be deemed to have been treated as the Production Assistant pursuant to memo of offer due to conduct of respondents and to have worked against the post till 4.10.93 whereafter it is not known whether he was reverted to post of Floor Assistant? Tribunal’s finding in this regard being contrary to record is overturned. But even so it remains to be seen what relief could be granted to petitioner. His services can’t be ordered to be regularised against post of Production Assistant because his whole claim is regulated by memo of offer dated 26.12.84 which fixes terms of contract and makes its renewal from time to time. The only relief, therefore, that can be granted to him in the circumstances, in the opinion of the H.C., is to direct respondents to consider his renewal of contract from 4.10.93 for the post of the Production Assistant and payment of arrears of salary from 7.7.85 to 4.10.93 and to pass appropriate orders thereon within four months from receipt of this order. The petitioner’s present status shall be maintained till then. The H.C. in that disposed of the present petition. |
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New Delhi, April 6
