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Since 1st March, 1999
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Business Briefs

Healthy growth in tax mopup

New Delhi, Nov. 11: Tax collections grew 14.78 per cent to Rs 1,02,195 crore during the first seven months of this fiscal against Rs 89,037 crore in April-October 2001, mainly due to the impressive corporate tax and excise duty collections. Indirect taxes collection grew 15.48 per cent at Rs 69,521 crore during the seven months compared with Rs 60,204 crore in April-October 2001. Direct taxes mopup was higher by 13 per cent at Rs 32,674 crore during the period against Rs 28,833 crore in the year-ago period.

Dabhol restart

Mumbai, Nov. 11: Union power minister Anant Geete will meet stakeholders of Dabhol Power Company in New Delhi on Tuesday to discuss steps for resumption of power generation from Phase I of the project.

Uco rate cut

Calcutta, Nov. 11: Calcutta-based Uco Bank today announced a second round of deposit rate cut by 25 basis points within four days of implementation of the first announcement that was effective from November 7.

Canara IPO

Mumbai, Nov. 11: Canara Bank today announced plans for an initial public offer (IPO) next week of 11 crore equity shares of Rs 10 each, for cash at a premium of Rs 25 per share, aggregating Rs 385 crore. The issue will be open between November 18 and 27.

Gas prices

Mumbai, Nov. 11: The government has set up a committee which will suggest measures to bring about uniformity in gas prices throughout the country, union petroleum minister Ram Naik said here today.

Cargill plan

New Delhi, Nov. 11: The government is believed to have rejected Singapore-based Cargill Internationalís proposal to set up a 100 per cent subsidiary after the external affairs ministry reiterated its stand that such a proposal not be cleared.

EIL selloff

Mumbai, Nov. 11: Amid uncertainty over the timing of disinvestment in BPCL and HPCL, the government is likely to postpone the privatisation of Engineers India Ltd (EIL), which gets over 50 per cent of its business from the two oil companies.

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