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Saturday,
October 5, 2002, Chandigarh, India  
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Stop freebies, disband FCI: Sharad Joshi
UTI pulled up for TDS on US-64
Via plans PCs below Rs 20,000 for Indians
Refinery has winged visitors |
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Mahindra & Mahindra unveils Arjun 555DI
Tata Tiscon capacity up 5 times in 2 years Kolkata
woman wins Playwin jackpot
Abhay Chhajlani is INS chief
SEBI’s regulations for enquiry notified
Cairn Energy puts off gas production S.K. Bijlani new CII (NR) Chairman
SBI denies VRS to 12,000 bankmen
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Stop freebies, disband FCI: Sharad Joshi New Delhi, October 4 Talking to mediapersons here, Mr Joshi also did not favour continuing freebies like free power to farmers, saying it promoted unaccountability. “It is bad. The farmers did not seek it. It was given by politicians who have to take a decision on the issue,” Mr Joshi said. He, however, asserted that farmers should be in a position to get due remuneration for their produce. Describing the FCI as the “biggest political instrument since the sixties,” Mr Joshi said that state monopolies should go. Mr Joshi, however, said disbanding of the FCI had to be a gradual process and farmers could not be left in the lurch. To the proposal about handing over procurement to the states, Mr Joshi said the states did not have funds to take up procurement. He said the mechanism of minimum support price (MSP) had to continue till better alternatives emerged and farmers were in a position to market their produce. He said private agencies could come together to provide warehousing facility to farmers and could also advance them loans. He favoured abolition of the Essential Commodities Act and privatisation of the support mechanism. He said the government should facilitate development of competitive and transparent system of harvesting that assured farmers prompt payment of a substantial part of the amount due on account of the prevailing market price on delivery against warehousing receipt, which should be treated as a negotiable instrument. Mr Joshi, who had presented a report to the Centre on the state of agriculture, expressed concern over delay in announcement of MSP for paddy, which had forced farmers to sell the crop in distress. He said norms stipulated that the Centre should announce the MSP during the sowing season. It said status quo MSP in the context of escalated costs had caused a furore among farmers. Accusing political parties of trying to derive capital out of the issue, he described the drought relief announced by the Centre as insufficient. At a meeting at Panipat, the committee expressed concern over global recession in agricultural commodities. It expressed disquiet at the “total inaction on the part of the Centre and state governments to initiate any significant step to lift agriculture to a higher level of competitiveness.’’ Mr Bhupinder Singh Mann, Bhartiya Kisan Union chief, was also present. He declared that the committee would organise dharnas to press for its demands.
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UTI pulled up for TDS on US-64
New Delhi, October 4 Directing India’s largest mutual fund to refund Rs 8,362, deducted as tax at source (TDS) to the complainant, Kanwar Manmohan Singh, commission President Justice Lokeshwar Prasad and member Rumnita Prasad held that the UTI had illegally and unauthorisedly subtracted the amount from the US-64 units. The complainant argued that the UTI had consolidated the US-64 units held by him and family members without informing him and that it had not provided any certificate regarding the TDS. Setting aside the District Consumer Redressal Forum order, which was in favour of the UTI, the Commission also found the company guilty of harassing and causing inconvenience to the investor and ordered it to give an additional Rs 2,000, apart from the costs of the litigation to the complainant. Claiming that the consolidation of the units had been done under the ‘folio’ system, which existed even before 1995, the UTI said the deduction was in accordance with the Income Tax Act and it had complied with provisions in the Finance Bill, allowing it to deduct a 15 per cent tax on the amount exceeding Rs 10,000. In its verdict, the commission said the UTI had deducted tax at source without giving any notice to the unit holders which was a “deficiency” in service. Since no TDS certificate had been issued to the appellant or members of his family, they were unable to seek refund or claim concession on the basis of the same, the commission said.
PTI
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Via plans PCs below Rs 20,000 for Indians
Panaji, October 4 “It should be possible to come out with a sufficiently powerful personal computer for less than Rs.20,000,” Via Technologies Inc. Country Manager for India Ravi Pradhan told IANS here. The former IBM Corporation technologist points out that costly and high-powered computers are not really the need of the average Indian user. “We want to bring the price of a computer to the sub-20,000 rupee range, that too offering every function that the user requires, including 256 megabyte memory and a CD-writer,” Pradhan says. “There is no need for higher-end personal computers for the vast majority of users. Almost any task can be done by a computer (with a chip speed of) 600-700 mhz,” he adds. One can do most of one’s work on a lower-power computer, whether it is word-processing, working on spreadsheets, access the Internet, send and receive e-mail and even chat on the Net, says Pradhan. In spite all the talk of computer prices going down, the international market has been focussing on a business model that gives PC buyers more powerful but costly models. Lower-powered brands and models simply get pushed out of the market, leaving the cash-strapped middle class buyer with few options. “Lower-cost PCs would really help the common man, who has a dream of giving a good education to his children and having a PC in their home,” argues Pradhan, who graduated from Indian Institute of Technology-Madras and returned to India after spending 26 years in the USA. According to industry estimates, there is a total of six million PCs in India, and just 1.5 to 1.8 million are sold each year in the country. Via started making chipsets for PCs in 1993-94. “Three years ago Via purchased the Cyrix CPU company to form National Semiconductors. Today we do both CPUs (central processing units, the heart of the PC) and graphic chips,” says Pradhan. Via, he adds, is keen to promote free and open source software, given their stability and affordability. “We see no need for the Indian market to pay huge amounts for software. We would like to work very closely with the huge Linux community in India,” says Pradhan. “Linux is most affordable, most stable and a lot less prone to hacking and virus.”
IANS
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Refinery has winged visitors
New Delhi, October 4 Mathura Refinery, the first in Asia and third in the world to get an ISO-14001 certification for Environmental Management Systems, has set up an 18,000 sq metre ecological park complete with earthen bunds and several varieties of trees, shrubs and bushes, according to the report ‘Welcome Winged Visitors’ prepared by Indian Oil Corporation. The polishing ponds of the refinery — last stage in the effluent treatment where water is released in channels and the residual impurities are allowed to settle — have been divided by earthen bunds and have grown into a natural habitat for various species of birds, the report said. The ecological park planned by a former Banaras Hindu University Professor has various varieties of trees, shrubs and bushes, planted to provide perches to the birds and in the last survey of Bombay Natural History Society in February 1999 it catalogued 96 species of birds. Besides a number of regional species, about 30 varieties of migratory birds including Coots from China and Shovellers and Spotbills from Russia have been sighted, the report said and added its proximity to Bharatpur Bird Sanctuary was also instrumental in attracting birds. Another IOC refinery which has become home to various aquatic and bird life is Barauni Refinery in Bihar and the oil major is working towards such environment-friendly measures in its other refineries as well.
PTI
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Mahindra & Mahindra unveils Arjun 555DI Chandigarh, October 4 Arjun 555 DI is miles ahead of other tractors due to the newly incorporated technology features. The Arjun comes with a robust gearbox with full constant-mesh transmission, eight forward and two reverse speeds and improved lubrication, providing smooth shifting and increased life of the gearbox. In addition, it has a new hydraulic system with a lifting capacity of 1,800 kg for precision field application, said Mr Goyle. Mr K.K. Nayyar, GM Sales-Zone I, said, “We at M&M are very proud to announce the roll-out of the Arjun Vijay Yatras (a customer contact programme) in Punjab and Haryana. The yatra is aimed at reiterating the technological superiority and powerfulness of the Arjun range of tractors and introducing the new Arjun 555 DI in the family.” “M&M Tractors is a major player in the tractor market and have close to 30 per cent of the share in the Indian market. At present, M&M is exporting tractors to the USA. Last year, it exported 4,000 tractors. It is planning to export to Europe,” said Mr Nayyar.
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Tata Tiscon capacity up 5 times in 2 years Chandigarh, October 4 Mr Sunil Seth, General Manager, Sales, interacted with the dealers and shared the companies’ marketing and sales objectives for the house-building segment. Mr Seth said Tata Steel launched Tata Tiscon as a branded rebar for the house-building segment in December 2000 in an effort to provide the end consumer with a quality product with differentiated service. Within one year, the brand had made rapid strides and had not only become a trusted rebar in the market, but the first choice for customers for building strong homes. The product was the benchmark on every count — quality steel, strength, elongation, longevity and seismic resistance, he claimed. At present, he said, the company had a capacity to produce half a million tonnes of Tata Tiscon which was five-times more than what was its commercial production two years ago. The new product had been rewriting the story in retail marketing of rebars and was leading a silent revolution, highlighting the emergence of a national brand in an era where the customer was becoming quality conscious.
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Kolkata woman wins Playwin jackpot
Kolkata, October 4 Wife of a north Kolkata-based astrologer and mother of two grown-up children, she had hit the jackpot after she had successfully predicted all numbers to match the winning combination, said Mr Sanjay Das, Chief Executive Officer, Playwin Infravest Private Limited, a wholly-owned subsidiary of the Rs 3,000-crore Essel Group. Presenting Ms Ghosh before the media, Mr Das said using her husband’s knowledge of numerology, coupled with sheer luck, she had also been able to win a number of smaller prizes of previous playwin online lotteries. Responding to queries about her plan to use or spend the money, Ms Ghosh candidly admitted that though she was yet to finalise her plans, she proposed to utilise the bulk of the prize money for the marriage of her daughter and higher studies of her son. As for her any plan to donate a portion of the prize money to a charitable trust or any other organisation, Ms Ghosh said she was yet to think over it. “I am glad that my husband, who had been helping many people to change their fortune of life for the past 15-odd years, had now been able to change it for the better for his own family too,” a beaming Ms Ghosh said, hoping that the money, after necessary deduction of income tax would reach her soon. Later, elaborating on the online lottery business of Playwin Infravest, currently operating in 14 states, Mr Das said since its introduction last year, Playwin’s sales turnover had crossed the Rs 600-crore mark, with another Rs 400 crore expected by March, 2003. Claiming about 20 per cent annual rate of growth of the online lottery business in India for at least 10 to 15 more years, the Playwin CEO said encouraged by the overwhelming response, it proposed to set up at least 10,000 terminals during the current fiscal. Regarding the investment programme, he said Rs 200 crore had been pumped in by Playwin in terms of software and hardware technology, with another about Rs 200 crore coming during the next two years for their further upgradation and modernisation. On the basis of this, so far “we have been able to make 13 crorepatis, over 700 lakhpatis and nearly four million overall winners of lesser amount through Playwin online lotteries,” Mr Das claimed.
UNI
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Abhay Chhajlani is INS chief
Chandigarh, October 4 Mr P.K. Lahiri is the Secretary General of the society. The other members of the Executive Committee elected are: Mr Mahendra Mohan Gupta (Dainik Jagran), Mr R. Lakshmipathy (Dinamalar), Dr B.S. Adityan (Vaarantari Rani), Mr Vivek Goenka (Indian Express, Mumbai), Mr Vijay Darda (Lokmat), Mr Mammen Mathew (Malayala Manorama), Mrs Shobha Subrahmanyan (Ananda Bazar Patrika), Mr Vijay Kumar Chopra (Punjab Kesari, Jalandhar), Mr Pratap G. Pawar (Sakal), Mr Girish Agarwal (Dainik Bhaskar, Bhopal), Mr M.J. Akbar (The Asian Age, New Delhi), Mrs Shobhana Bhartia (Hindustan Times, New Delhi), Mrs Mohini Bhullar (India Today), Mr Hormusji N. Cama (Bombay Samachar Weekly), Mr Bharat Kapadia (Chitralekha, Mumbai), Mr Jagjit Singh Dardi (Charhdikala), Mrs Sakti Dasgupta (Bartaman), Mr Ramawatar Gupta (Sanmarg), Mr Shekhar Gupta (Indian Express, New Delhi), Mr R.N. Gupta (The Tribune), Mr C.R. Irani (Statesman), Mr Vineet Jain (Maharashtra Times), Mr Rajan Kohli (Hindustan Times, Patna), Mr Gulab Kothari (Rajasthan Patrika), Mr Atul Maheshwari (Amar Ujala), Mr Jacob Mathew (Vanitha), Mr N. Murali (The Hindu), Mr V. Murali (Kalki), Mr Paresh Nath (Woman’s Era), Mr Jose Thomas Pattara (Deepika), Mr Satya Paul (Samaj, Cuttack), Mrs Indira Rajkhewa (Sentinel), Mr T. Venkatram Reddy (Deccan Chronicle), Mr P.K. Roy (Aajkaal), Mr C.B. Sen (Sananda), Mr Bahubali S. Shah (Gujarat Samachar), Mr K.N. Shanth Kumar (Deccam Herald), Mr Manoj K. Sonthalia (Dinamani), Mr I. Venkat (Sitara Film Weekly), Mr M. Venkatraman (Economic Times, Mumbai) and Mr Kundan R. Vyas.
TNS
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SEBI’s regulations for enquiry notified
Mumbai, October 4 These regulations, with provisions for major and minor penalties, empower the regulator to complete enquiry proceedings expeditiously adhering to principles of natural justice, SEBI said in a release here today. Summary proceedings could be held in cases where there is no need of holding an enquiry like when intermediatory is declared as insolvent by a competent court, it said. The draft regulations were circulated in May 2002 for comments and the board considered in August. They were notified on September 27. PTI
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Cairn Energy puts off gas production
New Delhi, October 4 “Gas production from Lakshmi (field) was to begin in July but was postponed to July 15 and then to September and now we have been told that gas from Lakshmi (field) would be available by end of this month,” Gujarat Gas Company Ltd(GGCL) Managing Director Robert W Thomas told PTI here. GGCL is the principle offtaker of the Lakshmi gas. “We have contracted 1.27 million cubic feet per day of gas from Lakshmi for selling in downstream markets in Gujarat,” he said. Thomas said GGCL has been able to tie up customers for only 23 per cent of the committed offtake from Lakshmi due to the
uncertainty over the delivery schedule. “We are talking to a number of customers and hope to tie-up customers for the remaining by the end of this year,” he said. Asked about the reasons for delay in beginning of
production from Lakshmi field, he said “first it was permission from Gujarat Government and now minor technical problem which is delaying (gas production).”
PTI
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S.K. Bijlani new CII (NR) Chairman Chandigarh, October 4 A graduate in mechanical engineering from the University of Manchester, Institute of Science and Technology, UK, Mr Bijlani has represented Indian industry at various national and international forums. Mr Bijlani takes over as Chairman, CII (NR), following the resignation of Mr Jagdish Khattar, who had expressed his inability to carry on with the responsibility on account of major restructuring of his organisation. |
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