INDIA INTELLIGENCE REPORT

 

Business & Economy

Tribals to get right to
minor forest produce

What is India News Service, Wednesday, 29 December 2004, 2000 hrs IST

Forest dwellers, including tribals, will soon have the legal right to minor produce from forests. Besides this, the Centre is also considering granting clearance to states to carry out public utility development works, including the construction of schools, dispensaries, water harvesting structures and laying electric and telecommunication lines, in tribal areas. 

Union Minister of Environment and Forests A. Raja has said that the government was in the process of giving final touches to the draft model legislation of the State/Union Territory Forest Produce (Ownership of Forest Dependent Community) Act, 2005, which will give right to minor forest produce to forest dwellers. 

At a recently held meeting with the related consultative committee of Parliament, Mr Raja said to protect genuine tribals from being evicted, the Centre was also considering issuing instructions to the state governments, advising them not to evict them without conducting proper enquiries into claims of possession of forest land.

Smart rally in rupee: Rallying smartly against the U.S. currency on the back of strong bunched up dollar supplies from the long Christmas holidays overseas, the rupee today gained a steep 14 paise to close at 43.71/72 a dollar. 
Premium jobs on offer:
ING Vysya Bank is hiring relationship managers at a starting salary of Rs 10 lakh plus (Rs 1 million plus).

CSD owes Rs 298 cr to suppliers: The Canteen Stores Department (CSD) of the Indian Armed Forces is one such organisation of the Services, which owes over Rs 295 crore to its suppliers and is seeking more budgetary allocation to clear the backlog.

Govt opens .in registration: India is all set to open .in Internet domain aggressively for domestic and multinational companies for registration from new year till January 21, for firms who have registered trademarks.

'Patents Ordinance heavy on peasants and patients': The Centre of Indian Trade Unions (Citu) today condemned amendment in the Indian Patents Act through an Ordinance saying it would lead to Indians paying heavily for everything, especially medicines and pesticides.

'New legislation for data protection soon': Close on the heels of amending the Patent Law to bring in product patent regime, government is all set to come out with a separate legislation for data protection.

Unified food law, regulator on the anvil: The Government has finally cleared the decks for a regulatory body and unified law for the food industry.

Centre for export-led growth: Promising more exporter-friendly policies soon, the Union Minister for Commerce and Industry, Kamal Nath, said here today that external trade could play a crucial role in stepping up India's overall growth rate. 

Smart rally in rupee: Rallying smartly against the U.S. currency on the back of strong bunched up dollar supplies from the long Christmas holidays overseas, the rupee today gained a steep 14 paise to close at 43.71/72 a dollar.

Shipping, tourism and marine sectors hit: Leading industry chambers, the Confederation of Indian Industry (CII), and the Federation of Indian Chambers of Commerce and Industry (FICCI), today said the loss caused by tsunami disaster was limited to shipping, tourism and the marine sectors.

Air Deccan sells 26% for $50 mn: The promoters of India's first low cost airline Air Deccan is privately placing 26% equity with ICICI Ventures and the US-based Capital International to raise $50 million.

FDI flow tripled to $3.1 billion: Foreign Direct Investment into the country trippled to $3.1 billion in first 7 months of 2004-05 as compared to little over $1 billion in the same period previous fiscal.
 
Sensex zooms by 50 pts: Achieving yet another landmark, the benchmark index zoomed further by 50 points to finish at a new high of 6563 on the Bombay Stock Exchange on Tuesday on sustained buying by foreign funds as well as domestic institutions.
 
RIL not to purchase shares from promoters: Fllaying market apprehensions of insider trading, Reliance Industries Ltd (RIL) board on Tuesday gave an undertaking to the Bombay Stock Exchange (BSE) that the company would not purchase shares under the buy-back scheme from promoters or from any persons in control through negotiated deals or private arrangement.
 
Eight new oil blocks to be declared in NELP-V: The New Exploration Licensing Policy (NELP) V will see eight new exploration blocks .The new list of 20 blocks which is likely to be announced in January has eight new fields.

Phone subscriber base to double in five years: The telecom services industry will continue to record a strong growth in the next five years, according to a report by CRIS INFAC. From a meagre 2.8 per cent in March 2000, teledensity has increased to 8 per cent in September 2004.

New car in new year? It's costlier: New Year does not augur well for the prospective car buyers. Company after company is announcing a price rise, enforceable with the onset of 2005.

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