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Since 1st March, 1999
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Business Briefs

VAT panel to meet on April 23

New Delhi, April 16: The empowered committee of state finance ministers will sort out unresolved issues, including the rate of tax on life-saving drugs, naptha and maximum retail prices of essential items at its meeting on April 23 to ensure smooth implementation of value-added tax (VAT) from June. Prior to the meeting of state finance ministers, there will be an officers’ meeting on April 22, which would take up all the contentious issues.

Services sector

New Delhi, April 16: The Federation of Indian Chambers of Commerce and Industry (Ficci) has expressed its dissatisfaction over the inadequate initial offers made by the US in the services sector under the World Trade Organization (WTO) negotiations.

PowerGrid woe

New Delhi, April 16: Power Grid Corporation of India Ltd today regretted that the lack of new transmission projects is affecting its growth as the power generating companies have failed to start the projects announced by them. Its net profit during fiscal 2002-03 was Rs 650 crore against Rs 689 crore in 2001-02. Its turnover stood at Rs 2,419 crore during 2002-03 against Rs 2,456 crore in 2001-02.

Gestetner arm

Calcutta, April 16: Gestetner (India) Limited today received approval of shareholders to dispose off its loss-making Nasik unit. The Nasik arm was engaged in the manufacture of stencil paper, duplicating ink and electronic stencil cutter.

Bangur bail

Calcutta, April 16: A special CBI court today rejected the bail prayer of Keshav Bangur, prime accused in the Bank of Rajasthan cheating and forgery case in 1996.

VSP chief

Calcutta, April 16: Bijoy Kumar Panda has taken over as the chairman-cum-managing director of the Visakhapatnam Steel Plant (VSP) from today.

Steel house

Calcutta, April 16: Tata Steel has built the first building using steel load bearing wall systems at Jamshedpur. The ‘steel house’ was completed within 61 days, managing director B. Muthuraman said today.

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