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Wednesday,
January 1, 2003, Chandigarh, India  
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Economy clocks 5.8 pc growth
ISD calls scam at Bathinda
Tina, Anil Ambani in Shimla for New Year
New norms on mergers soon |
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Computer games to be censored Palampur tea unit faces closure
Dr Reddy, IBP, Tisco get awards
MRF to pay 140 pc dividend
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Economy clocks 5.8 pc growth New Delhi, December 31 As per the latest quarterly estimates released by the Central Statistical Organisation today, quarterly GDP at factor cost during July-September, 2002, was estimated at Rs 2,98,308 crore compared to Rs 2,82,084 crore in the corresponding the period previous year, showing a growth rate of 5.8 per cent. The agriculture sector failed to sustain the recovery witnessed in the first quarter by growing at zero per cent in the second quarter as against a healthy 6.3 per cent growth in July-September, 2001. An official release said the zero growth was attributed by the Department of Agriculture and Co-operation to the sharp decline in production of commercial crops, rice, coarse cereals and pulses during the Kharif season of the current year. Among production of commercial crops, oil seed production is expected to decline by 25.1 per cent while production of cotton and sugarcane is expected to fall by 22.3 and 5.4 per cent over their estimated production last year. The sector which performed well in the second quarter were mining, manufacturing, construction, trade, finance and insurance. Bettering its performance, the mining and quarrying sector registered a growth rate of 5.1 per cent in the second quarter of the current fiscal against 0.7 per cent in the same period last year, although compared to the first quarter of 2002-03, the growth was marginally lower. As per the data, manufacturing witnessed a robust 6.4 per cent growth in the period in reference compared to 2.6 per cent in the year-ago period, while the
construction sector grew at an astounding 7.2 per cent in the second quarter of the current fiscal, against 2.7 per cent earlier. But the highest growth came in the financing, insurance, real estate and business service segment which clocked an 8.9 per cent growth compared to 7.6 per cent in the year-ago period even though the growth in second quarter was marginally lower than the 9.7 per cent growth registered in the first quarter of this fiscal. Trade, hotels, transport and communication clocked an equally impressive 8 per cent growth compared to 6.3 per cent in the corresponding period. Bucking the trend, electricity, gas and water supply registered a growth of 4.9 per cent compared to 5.4 per cent in the corresponding period last year. In another segment, the community, social and personal services industry sustained the growth of the first quarter at 5.7 per cent.
PTI |
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ISD calls scam at Bathinda Chandigarh, December 31 According to informed sources in the BSNL, the vigilance team, headed by Mr Satinder Kumar Jain, DGM (Vigilance), has detected the fraud, which has caused revenue loss of over Rs 5 lakh to BSNL. The vigilance cell has found that four to five employees at two remote exchanges — Bhamekalan and Bhaini Bagha — in Secondary Switching Area (SSA),
Bathinda, were involved in helping a group of subscribers to make international calls to Saudi Arabia, UAE and Pakistan. Most of these calls, were made at specific numbers and time in these countries. Though the cell maintains that in this case, some persons might be making international calls to their relatives, without paying anything to the department, the investigation has not ruled out the possibility of some foreign citizens or the ISI agents being involved. Most of the suspected calls made in October 2002 were detected by the technical wing at the SSA Bathinda level and the case was handed over to the vigilance cell of the BSNL, Punjab circle. A team comprising of district vigilance officials headed by Mr Jain, investigated into the matter for over one month and held some officials posted at these exchanges responsible. Official sources said the preliminary report of the Vigilance team, has found a few phone mechanics, JTOs guilty and suspected an SDO concerned was involved in the fraud. The cell has recommended further investigation. The vigilance cell of BSNL, has no jurisdiction over the outsiders. So the case has been handed over to the CBI, say officials. |
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Tina, Anil Ambani in Shimla for New Year Shimla, December 31 “Anil Ambani and his wife Tina have been with us for the past two days and have been sightseeing in and around the city,” said Raman Khanna, GM of the Oberoi Group of Hotels. Ambani headed for Shimla soon after launching mobile phone service last week on his late father, Dhirubhai Ambani’s 70th birth anniversary. “Initially, the Ambanis were to be accompanied by Bollywood superstar Amitabh Bachchan but he cancelled his trip at the last moment,” said Khanna. Bachchan is reported to have opted to celebrate the new year’s eve in the Thar Desert. The Ambanis are staying at the Oberoi’s Wildflower Hall located on the outskirts of the city, deep in a deodar jungle at 8,500 feet above sea level.
IANS |
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New norms on mergers soon New Delhi, December 31 “The Naresh Chandra Committee has submitted its report and it has been put out for public comments. After considering some suggestions we will implement it”, Department of Company Affairs Secretary V.K. Dhall said at an award ceremony organised by the Institute of Company Secretaries of India (ICSI) here today. Referring to the Enron-Andersen fiasco, he said the government was now working on stringent norms for bringing greater accountability on the auditors. He said a group headed by corporate lawyer Shardoul Shroff had been set up to suggest ways of bringing in transparency in valuation of assets during M&As. The government would tighten the norms for inter-corporate deposits as many companies had channelised funds raised through ICDs to invest in stock markets.
PTI |
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Computer games to be censored London The move comes after complaints about the content of games such as Hooligans: Storm over Europe, State of Emergency and Carmaggedon, which show graphic images of fighting, death and reckless driving. From April all computer games sold in the EU will carry the new classifications. Those with no violent content or sex will be rated 3+, indicating the age from which they can be played. There will also be classifications of 7+, 12+, 16+ and 18+. In the UK, computer games which are so violent will be regulated by the British Board of Film Classification and can be banned. Selling a banned game will lead to unlimited fines and possible imprisonment. The games industry responded after EU member states demanded action. Although there is a voluntary code in operation, many games fall outside it and experts say it is seen as inadequate to control an industry that is not bound by international borders. "It is only fitting that an industry exerting increasing influence on people displays an enhanced sense of social responsibility," said Patrice Chazerand, Secretary-General of the Interactive Software Federation of Europe, which will oversee the code. Production of computer games is Europe's fastest-growing industry. Last year it was worth over $ 6.4 billion, a figure that will rise to $ 9.6bn next year. The industry hopes the code will allow parents to control the number of "splatter games" now being played by young children. In State of Emergency mini-skirted girls in jackboots run around shopping malls decapitating victims. Hooligans shows men storming pitches, fighting other gangs, looting shops and attacking the police. Part of the game involves "fuelling your troops" on alcohol and drugs. Critics say although such games can once be dismissed as "cartoon violence", better technology means that they now look highly realistic and are accompanied by bad language and the groans and wails of the victims. Evidence of a direct link between computer violence and aggression among children is disputed. A research in Japan found that the parts of the brain that control aggressive behaviour were less developed in children who played violent video games. Studies at Middlesex University, England, found that children became more aggressive the longer they played violent computer games. Children as young as four often play games which, if the images were in a film or video, would be against the law. But other research, including that by the British Home Office, said there was no direct link between computer violence and increased aggressive behaviour among children. Scientists have also discovered that limited playing of computer games can increase IQ levels because it demands a degree of concentration and hand-eye co-ordination.
By arrangement with The Guardian |
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Palampur tea unit faces closure Kangra, December 31 Mr Rajinder Singh, vice-President, Palampur Cooperative Tea Factory and member, Himachal Tea Board, said due to drought-like situation in the winters during the last four years and the govt’s apathy the tea production has again declined to seven lakh kg annually. The tea industry was affected by slashing down of the tea cost considerably in the international and national market. Three cooperative tea factories in Sidhbari, Baijnath and Bir have already closed down and the Palampur factory was at the verge of closure by 2003 if the govt fails to come to the rescue of this industry. Mr B.B.L. Bhutail, Palampur MLA and a tea grower, said the Centre has given support price to the tea industry in the South at Rs 8 per kg but this state is ignored. Mr J.K Chaturvedi, Development Officer, Tea Board, said adverse weather and irregular rainfall have left the tea industry the lurch as farmers could not get first flush of tea which was most important. The Tea Board was making all efforts for the revival of the industry by giving new plantation subsidy, besides this farmers were being financed through CSIR schemes. |
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Dr Reddy, IBP, Tisco get awards
New Delhi, December 31 Vice-President Bhairon Singh Shekhawat presented the ICSI awards to the “best governed companies” selected from 1,700 odd companies at a ceremony organised by the ICSI here. Y. K. Hamied, chairman of Cipla, bagged the ICSI life time achievement award for translating excellence in corporate governance into reality. While Tisco chairman Ratan Tata was not present at the ceremony, Dr Reddy chief Anji Reddy and IBP chairman M S Ramachandran received the prestigious awards from the Vice President. The jury for the award comprised former Chief Justice of India M.N. Venkatachaliah, SEBI chairman G.N. Bajpai, DCA secretary V.K. Dhall, etc.
PTI |
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Fiscal deficit Award for IOC TV Today Price index up SBP Zirakpur Hi-tech branch Postal Board Sugar mills PNB plan |
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