Fillip for export units
New Delhi, March 7: The finance ministry has given the go-ahead to a fast track clearance scheme for export-oriented units proposed in the foreign trade policy announced last year. Under the scheme, EOUs can export samples, take out their capital goods for repair and sell finished goods in the domestic market without prior permission of the central excise authorities.
Calcutta, March 7: A city court today granted the prayer of Rajendra S. Lodha for adjournment in a criminal case instituted against him and three others by the Birla group as an application for quashing of the matter is pending before Calcutta High Court. Chief judicial magistrate Mumtaz Khan adjourned the matter till April 16.
New Delhi, March 7: Hit hard by the rising number of illegal telecom exchanges and unauthenticated mobile customer base, the department of telecom (DoT) is considering amending the Indian Telegraph Act, 1885 to include stringent penalties of up to Rs 5 crore for both the conduit and the service provider and even cancelling the licence.
New Delhi, March 7: Tax collections grew by 18 per cent to Rs 1,54,663 crore till January 2005, which is two-third of the budget estimate of Rs 2,33,906 crore.
Goa, March 7: Ericsson today said it would invest over Rs 200 crore in the next 2-3 years to set up base stations in India.