|
Business & Economy
Traders' strike against VAT:
Shops closed across India
What is India News Service,
Thursday, 31 March 2005, 1400 hrs IST
The three-day nationwide
traders\92 strike against the introduction of a comprehensive value added
tax (VAT) regime began on Thursday. The Confederation of All-India Traders (Cait)
and the Bharat Udyog Vyapar Mandal (BUVM), the two major traders\92 bodies\92
spearheading the agitation, claimed that strike was total all across the
country.
Reports reaching from other parts of the country, however, said the bandh call
evoked mixed response with retailers carrying on with their usual business even
though wholesale business was affected.
In Delhi, Punjab and certain other northern states petrol pumps were closed
as dealers were protesting the proposed diesel price hike as a consequence of
VAT.
The Cait, however, claimed that more than four crore traders across the
country observed the strike.
Traders in some states like Tripura and Karnataka will go on strike tomorrow
while there will be no agitation in Tamil Nadu, Haryana and Meghalaya.
Secretary General of CAIT Praveen Khandelwal said the decision of the
empowered committee to introduce VAT from April 1 is an \93error of judgement\94
as there will be unhealthy competition in those states who have implemented VAT
and those who have not.
Pak eases visa
rules for Indian traders: Pakistan has agreed to grant two-year multiple
entry visas to the Indian businessmen and will soon announce the decision after
the finalisation of certain modalities by the industry chambers of both
countries, said former Pakistan Prime Minister, Chaudhry Shujaat Hussain.
Aiyar
suggests pipeline through populated areas of Pakistan:
Petroleum Minister Mani Shankar Aiyar has suggested routing the
$4.16-bn Iran-India gas pipeline through thickly populated areas of Pakistan to
minimise the risk of a terrorist attack.
Infosys receives certification in aerospace systems: Leading consulting and
IT services provider Infosys Technologies received the AS/EN 9100 certification
for its work in designing and developing a complex aero structure.
Chandigarh, Amritsar airports to be upgraded:
After clearing way for the modernisation of Delhi
and Mumbai airports, the government has given the go-ahead to the upgradation of
30 non-metro airports, including Chandigarh airport and Amritsar international
airport, at an estimated cost of Rs 5,000 crore in the next three years.
Air Deccan,
Kingfisher not to poach on each other: Air Deccan, the country\92s first
low-cost airline, and the new Kingfisher Airlines \97 which is yet to commence
its commercial operations \97 have entered into a \93non-poaching alliance\94
pact under which neither of the airlines will recruit the employees of the
other.
M&M
sells 15.88% in Ford:
Mahindra and Mahindra Ltd (M&M) has sold its
15.88 per cent stake in Ford India Pvt Ltd.
Ranbaxy restrained from selling blood pressure drug in US: Ranbaxy
Laboratories Ltd got a major jolt as a US court has restrained its subsidiary
Ranbaxy Pharmaceuticals Inc from selling the generic version of Pfizer Inc\92s
accupril blood pressure drug in the US market.
IIMs shun business school surveys:
Smaller IIMs are questioning the methodology of surveys that rank business
schools.
Tatas
may set up car unit in Punjab: The Tatas are contemplating to set up a car
manufacturing unit in Punjab, the State Finance and Planning Minister, Mr
Surinder Singla, told the Punjab Vidhan Sabha today.
IA
launches Delhi-KL link:
Fares on the South-East Asian sector are set to
decline, what with more direct connections and choice of airlines being
available to Indian tourists. Indeed, increased air travel options are expected
to win over any reservations that tourists may have about visiting those
destinations, earthquakes or tsunamis notwithstanding.
| |