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Business & Economy
Centre, States to discuss
ways to curb piracy
What is India News Service,
April 5, March 2005, 1800 hrs IST
The Union Government has convened a two-day meeting of State
information and broadcasting ministers from April 16 to
eradicate piracy, Jaipal Reddy, Union Minister for Information and
Broadcasting, said today.
Inaugurating the three-day `Frames 2005' event for the
entertainment industry organised by Federation of Indian Chambers of Commerce
and Industry (FICCI), Mr. Reddy said the meeting would discuss issues like
entertainment tax, which, in some States, was as high as 80 or even 100 per
cent. Agreeing with other speakers at the meeting, Mr. Reddy said,
"Although it is a stumbling block for the film industry which is already
facing threat from TV, it could be brought down to a minimum but it is not
possible to abolish it.''
The minister also assured the industry that he would take up
the issue of fringe benefits tax with the Union Finance Minister as the industry
was worried about its impact. The minister said that an autonomous regulatory
authority would be in place to control the content on TV channels as is the case
in the U.K. and the U.S. and a bill to this effect would be introduced in the
monsoon session of Parliament. "I hope we can create the institution this
time around,'' he said.
Mr. Reddy announced that the Government would add a further
17 free-to-air channels to its Direct-to-Home (DTH) offerings taking the total
to 50.
Oil
strikes new record of $57.79:
Oil prices raced to all-time peaks today,
climbing towards $58 a barrel as Opec said it had begun discussing a second
output rise to try to quell the market\92s rally. US light crude hit a record
$57.79 a barrel, surpassing Friday\92s high of $57.70, which was triggered by a
forecast prices could spike above $100 because of robust global demand and tight
spare capacity.
UB buys out 35 pc in ABDL for Rs 24 cr
: United Breweries Ltd has bought out the minority
stake of 35 per cent in Associated Breweries and Distilleries Ltd.
Vat
on salt defeats scheme of iodisation:
The imposition of Value Added Tax on salt will be in direct contradiction with
the National Iodine Deficiency Disorders Control Programme and defeat the
government\92s iodisation programme.
Govt withdraws Rs 450 cr excise claim against ITC
: The government reached a settlement with ITC
agreeing to withdraw its claims of excise duty of Rs 453 crore.
Madhavpura
Bank case \97 ICAI council recommends removal of members: Wielding the stick
against erring members, the Central Council of the Institute of Chartered
Accountants of India (ICAI) has recommended the removal of the names of two
members who were auditors of the scam-tainted Madhavpura Mercantile Co-operative
Bank.
Five more IITs for India: Prez
: President APJ Abdul Kalam said on Monday that
India would have five more IITs within a few years.
Wipro gets I-T demand notice for Rs 261.7 cr: Wipro Ltd has said that it has
been served with a notice by the Income-Tax authorities for payment of Rs 261.7
crore as taxes under the I-T Act 1961, primarily on account of denial of the
deduction under Section 10A for the software profits.
Plan panel pitches for foreign airlines\92 stake in local carriers:
Exhorting the government to expedite liberalisation, the mid-term appraisal of the Tenth Plan has made a strong case for foreign direct investment in modern retail, equity participation by foreign airlines in domestic carriers and sale of minority stakes in profit-making public sector undertakings. Full story
VSNL
served notice on ILD calls issue: The Department of Telecom on Monday issued
a show-cause notice to Tata-managed Videsh Sanchar Nigam Ltd (VSNL) for
allegedly routing international long distance calls through private leased line
network used by business process outsourcing
units.
Thee
young and restless drive consumerism
:
If you are 30 and still don't own a credit card, a mobile phone, and at least a
small car, you haven't
yet arrived.
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