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Business & Economy
Tourism: Quantum leap
likely in 2005 arrivals
What is India News Service, Wednesday,
20 April 2005, 1600 hrs IST
After a record arrival of foreign tourists in
2004, India is poised
to take a quantum leap by crossing the magic figure of three million this
year to register a 24 per cent growth, according to Gaur Kanjilal, Regional
Director of Tourism Department.
Foreign exchange earnings have shown a
positive growth till November last year and the revenue earnings was to the tune
of Rs. 9562 crores, he said.
With increasing liberalisation in civil
aviation sector, there has been improvement in movement of tourists from various
traffic-generating markets. More and more airlines are now getting rights to
operate in India, he added.
Five international carriers have added India to
their schedule, existing carriers have been allowed additional services, charter
policy has been liberalised and low cost airlines are available, Gaur pointed
out.
Airports are being upgraded, modernisation
plans have been prepared and action initiated. Delhi airport looks much improved
and Mumbai airport is getting a facelift. Private operators are also offering
helicopter services, he said. Draft
bill on airport regulator being vetted:
Inter-ministerial discussions are being initiated soon on a draft
bill for setting up an airport regulatory body. The bill outlines the role and
scope of the regulator and takes into account the concerns of various
stakeholders as well as the Naresh Chandra Committee recommendations, Civil
Aviation Secretary Ajay Prasad said here on Tuesday.
VAT
panel not to introduce new rate for 3 months:
The Empowered Committee of State Finance Ministers on value-added tax (VAT) does
not favour, for now, the introduction of a new VAT rate between 4 and 12.5 per
cent.
India-Pakistan
trade: nine areas identified: Bilateral trade to touch $10 b by 2010 The
proposed council should explore the possibilities for setting up joint ventures.
Safety
of baby products \97 Health Ministry under pressure to deliver verdict: The
Health Ministry is under pressure to pronounce its verdict on whether the baby
products manufactured by companies such as Johnson & Johnson, Himalaya Drug
Company and Emami are safe or not.
TCS crosses $2 bn mark:
Tata Consultancy Services has become the country\92s first IT company to cross the $2 billion mark as it closed fiscal 2005 with Rs 9,748.47 crore in revenues. At Rs 1,976.90 crore in net profit, it is also the first software giant to cross $500 million in net profit. Its fourth quarter of Rs 471.79 crore, however, was down 34% over the preceding quarter of FY05
Short
on crew... pay up and sail: In a decision that has baffled shipping
companies, the Government has asked them to pay for any shortfall in the
mandatory number of officers on board.
MUL
swooping into hatchback market: Unfazed
by the flat performance of other hatchbacks in the market, Maruti proposes to
unleash its Swift on the Indian roads late next month.
Business papers
Business Standard
Economic Times
Business Line
Financial Express
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