The Telegraph
Since 1st March, 1999
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Business Briefs

Indirect tax mopup grows 7%

New Delhi, Aug. 19: Indirect tax collections grew by 7.33 per cent to Rs 40,480 crore in the first four months of this fiscal as against Rs 37,715 crore during April-July 2002. Excise mop up grew by 6.74 per cent to Rs 25,568 crore during the reporting period from Rs 24,043 crore in the consecutive previous period, said top finance ministry officials. Customs collections were up by 9.08 per cent to Rs 14,912 crore compared with Rs 13,671 crore year-on-year.

Margin trading

Mumbai, Aug. 19: Sebi’s secondary market advisory committee has recommended that a scheme permitting banks and Reserve Bank registered non-banking finance companies to fund margins trading should be introduced immediately.

Unctad monitor

New Delhi, Aug. 19: The United Nations Conference on Trade and Development (Unctad) is setting up a mechanism to monitor international standards for food and environmental safeguards which are emerging as strong non-tariff barriers in international trade, said director Laxmi Puri.

Kalyani Steel

Mumbai, Aug. 19: The board of Kalyani Steels Ltd (KSL) has approved the merger of Kalyani Ferrous Industries Ltd with the company and fixed a swap ratio of two KSL equity shares of Rs 10 each for every nine shares of the latter.

UTI staff worry

Mumbai, Aug. 19: All India Unit Trust Officers’ Association have sought finance minister Jaswant Singh’s intervention to protect the employees’ interests in the light of UTI Mutual Fund’s proposed voluntary separation scheme.

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