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Saturday,
November 16, 2002, Chandigarh, India  
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Kelkar
justifies taxing agriculture
No let-up
in fiscal reforms: CM Ericsson
to set up centre at Gurgaon Plan
panel to set up employment mission
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Excise
Commissionerate in Ludhiana Allow
FDI in retail sector: industry Tenders
for number plates opposed
No time
frame set for privatisation of SCI Colgate
declares 22.5 pc interim
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Kelkar justifies taxing agriculture Ludhiana, November 15 Dr Kelkar made these observations while interacting with the representatives of the trade and industry at a function organised by the CII here today. He was accompanied by other task force members including Mr Arvind Modi, Mr Sandeep Bhatnagar, Mr Y.P. Suri, besides Mr Sunil Kant Munjal and Mr S.P. Oswal. Dr Kelkar and other members justified the proposals to tax the agriculture sector saying, it was aimed at improving the state resources. To another question as how the department can assess the farm income, Mr Modi said, there are four ways of assessing the wealth. First by way of assessing the inputs, the outputs when these go the markets for sale, deposits of the agriculturalists in banks and acquiring of wealth and tracking the high level of expenditure. Mr Modi said, so far, even if the income tax department would examine all these aspects, the investigations would end the moment the assessee will say that it is all the agriculture income. Once this income comes in the ambit of taxes, then the department can go ahead. Most of the members and the industrialists supported the move to tax the agriculture income as they felt, income is income from which ever source it is generated, it should be taxed. Dr Kelkar disagreed with the observations that his recommendations were relatively harsh towards the small tax payers, while being generous to the corporate sector. He pointed out, the committee had raised the exemption limit from the existing limit of Rs 50,000 to Rs one lakh. On the issue of doing away with the exemptions in terms of small savings and investments, he said, these had been rationalised at the macro level. By and large there was general approval of the industry for the recommendations. Taking the lead, Mr S.P. Oswal said, these were very encouraging measure as these were likely to lead to simplification. He suggested that a good public opinion needed to be generated about these reforms. Moreover, he hailed the raising of the income tax limit from Rs 50,000 to Rs one lakh. Besides, there was one common concern among the industrialists as how these recommendations could be implemented without being misinterpreted. Mr M.M. Vyas said, there was a need for their proper “interpretation and implementation”. The same view was shared by Mr P.D. Sharma who also wanted the system to be simplified in a transparent manner.
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No let-up in fiscal reforms: CM Chandigarh, November 15 The World Bank team, comprising of Mr Vikram K. Chand, Senior Public Sector Management Specialist, Mr Stephen Howes, Lead Economist (India), Mr Deepak Ahluwalia (Rural Development) and Prof Indira Rajaraman, Economist (Specialist in fiscal issues) concluded its visit today. During the visit the team was apprised of the government agenda namely clear mandate on the good governance, corruption free administration and fiscal reforms. The Chief Minister impressed upon the team that Punjab has paved a way for the World Bank to make the state eligible for the financial help. The Capt told the World Bank team that Punjab would soon announce its Agricultural Policy as well as Rural Development Policy that focus on small, medium and marginal farmers and landless labourers. He also expressed his desire on reforms in the power sector particularly debt restructuring of Punjab State Electricity Board. Improvements in quality of power was also on the agenda. Punjab proposed to introduce an anti-power theft bill. Later on, the members had detailed discussion with the administrative secretaries with Mr Y.S. Ratra, Chief Secretary, in the chair. The members of the World Bank appreciated the transparency shown by the state while publishing a White Paper on the state of finances, incorporating medium term fiscal programme, and introduction of the fiscal responsibility and budget management bill.
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Ericsson to set up centre at Gurgaon
Stockholm, November 15 The Haryana Chief Minister and the accompanying official delegation, who today visited the head office of Ericsson in Stockholm, had detailed discussion with the management of the company regarding expanding their network in India, especially Haryana. They also had detailed discussion with the management of Tetra Pack. The demand for ready-to-eat food is increasing day by day because of the changing lifestyle and more women going for work. The Chief Minister assured them of full assistance of the state government in setting up their units in Haryana. It was informed that Tetra Pack was setting up one of its unit at Pune in Maharashtra and was considering the proposal to set up a unit in Gurgaon. Those who attended the meeting included Vice-President of Ericsson, Mr Ulf Pehrsaon, Director, Mr Per-Olof Bjork, who is a representative of the company in India, Ms Cecilia Seaton, Mr Ronny Bergqvist and Mr Jones Gramer and many senior officers of the company. The Ericsson company has its units in about 140 countries in the world. The company was launched 126 years ago by Ericsson couple to repair telephones.
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Plan panel to set up employment mission New Delhi, November 15 Addressing the seminar on ‘Problem of Employment in the New Economic Order’ organised by the chamber, Dr Gupta said for generating a high level of employment, the unorganised sector, including small and medium enterprises, would have to be targeted upon. “But at the same time it has to be realised that for the unorgansied sector to be made viable and competitive under the new circumstances, suitable policies and programmes will have to be recommended so that the sectors can become more productive and quality conscious”, he said. Mr Arun Kapur, President, PHDCCI, said major changes were required in the education sector and renewed initiatives for vocational training based on interface with the industry, promotion of services and informal sector required.
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BSNL fails to cover entire Punjab Bathinda, November 15 Official sources said the BSNL so far had launched mobile service in two districts of Punjab namely Sangrur and Ludhiana. Apart from it, the mobile service had been launched in Chandigarh area also. The people of state have been feeling happy over the fact that BSNL is going to launch mobile service in Punjab and they would be benefited from same due to less charge of BSNL. The people waited for launch of mobile service by BSNL on August 15 and got disappointed when no such thing happened. In absence of mobile service of BSNL, the people had to depend on the private players and had been paying for their expensive service. Mr Sukhjit Singh Neena, former member, Telephone Advisory Committee (TAC), Punjab, alleged that inordinate delay in the launch of mobile service by BSNL at national level first and then in districts, showed that BSNL authorities were hand in glove with private mobile service players to extend them undue favour. Information gathered by TNS revealed that BSNL authorities at Chandigarh had been inviting criticism from various quarters for its failure to cover entire Punjab with mobile service. The BSNL authorities had been trying to start mobile service in two more districts by Monday. Mr T.S. Ghamir, GM (Mobile), BSNL, Chandigarh, when contacted, said that mobile service was being launched gradually and it was not being delayed under pressure of any private player. When asked which date BSNL would be able to cover entire Punjab with mobile service, he failed to tell the date.
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Excise Commissionerate in Ludhiana Ludhiana, November 15 Mr H.K. Mittal has taken over as the commissioner for Ludhiana Commissionerate. Mr Ranjit Singh has been posted as Commissioner Appeals, while Mr Mahendra Ranga and Mr Rajeev Kapoor have joined as joint commissioners. Mr Rajan Chaudhary has joined as the Assistant Commissioner. Mr Mittal emphasised that he would ensure transparency and honesty in the governance of the central excise administration. He assured that all possible steps will be taken to facilitate the trade and industry of the area.
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Allow FDI in retail sector: industry
New Delhi, November 15 “The government is fully aware of the potential benefits of FDI in retail but feels constrained by political considerations,” Alan Rosling, chairman, Jardine Matheson Group, said at a FICCI
conference here. Stating that there was an urgent need for a policy change to encourage modern retailing, he said growth of modern retailing and economic development went hand in hand, and added that retailing accounted for almost 10 per cent of GDP in most countries and was one of the major employers. “The experience of China (which allowed foreign equity) illustrates why India should also follow the liberalisation route in the retail sector,” he said. He pointed out that policy neglect, shortage and high cost of real estate, complex regulatory regime,
inefficiency in supply chain and availability in cost of funds and ban on FDI afflicted the growth in sector.
PTI
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Tenders for number plates opposed Chandigarh, November 15 Many states which have called for tenders have either stayed or withdrawn Mr Prem Dutt, Utsav Safety System and spokesman of the association said the government notification says for the allotment of work ‘‘Type approval certificate’’ is essential and not the experience. The association has written to the Ministry of Surface Transport and Highway to check the background and credentials of the manufacturers seeking contract, but the Ministry has declined the request. No Transport Commissioner of any state has ascertained the construction of the factory etc. which is must according to a notification. If the construction is late then it will be very difficult to meet the deadline of February 28, 2003 for new vehicles, and for all existing vehicles within two years i.e. February 28, 2005. At present there are 50 million vehicles on Indian roads. Every year nearly 5 million more vehicles are being added.
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Scope for raising textile share in S. Asia Ludhiana, November 15 Mr Oswal made his presentation at the conference of the International Textile Manufacturers Federation (ITMF) held at Delhi in which as many as 300 delegates from 40 countries participated. Mr Oswal said India and Pakistan had strong potential in spinning yarn while Bangladesh and Sri Lanka had a potential in garment trade. Nepal was also coming up in textile trade. At present, India and Pakistan occupied 50 per cent share in cotton yarn trade in the world, he said. Mr Oswal said South Asia had become a major source for the trade of garments for countries like China, Thailand, Korea, Taiwan and Mauritius. India and Pakistan should maintain their strength in exporting material, he said. ‘If we watch the trends of the past 10 years in intra-Asia trade in textiles, it has grown by seven per cent. It is a healthy trend and should be maintained,’ he said. Mr Oswal said China had been making huge investments in modernising its textile industry. He cautioned that China could grab a major share of the world trade in textiles and clothing. China’s present share in the world trade was 14 per cent which it intended to raise 23 to 25 per cent by 2010. The ITMF plans to increase the world trade in textiles from $ 360 billion to $ 600 billion by 2010. India’s share in textiles export, at present, lies at $ 12 billion, he said. According to Mr Oswal, the major clothing markets were in the European Union, the USA, Canada and Japan where 7 per cent of the world trade in garments was taking place. The total garment trade in the world was $ 190 billion and the share of Asian countries in the same was 45 per cent. “Asian countries will have an increasing demand for textiles as China opens its market and reduces custom duty under WTO. It will offer greater opportunities to South Asian countries to export their products,” he observed. Mr Oswal said better regional trade cooperation would help to restructure the textile industry and strengthen the overall competitiveness in the intra-South Asia region. The formation of SAARC facilitated South Asian preferential agreement (Sapta) in 1995. The SAARC was committed to establishing South Asia Free Trade Agreement (SAFTA) by 2010 and the Customs Union by 2015, he said. He said a three-pronged strategy was required for the textile producers of South Asia to create a dynamic textile sector to seize new opportunities. The strategy lay in creating institutes to achieve better regional cooperation, pushing the industry towards global integration and building competitive edge for sustained growth, he added.
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No time frame set for privatisation of SCI
New Delhi, November 15 “You can’t fix a time frame (for privatisation). You have to get best value and overcome perception problems. I can’t say if three to four months would be enough. Even the Department of Disinvestment can’t set a time frame,” Shipping Minister Ved Prakash Goyal told a news conference here.
PTI
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Colgate
declares 22.5 pc interim Mumbai, November 15 The board approved the proposal for interim dividend which would be paid to shareholders whose name appears on the record date of December 10,2002, the company said. The company paid a total 42.5 per cent divident for 2001-02.
PTI |
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Indian Bank Citibank Eicher Motors Paul Merchants |
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