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Corporate Briefing
FE NEWS SERVICE
BSES to set up 230mw power plant in Andhra Pradesh: BSES plans to set up a 230 mega watt power plant in the southern Andhra Pradesh state, a top official said on Saturday. The new venture will be called BSES-SEW Andhra Power Ltd. In 1998, the firm expects to commission a 160mw combined cycle power plant in southern Kerala state in which BSES will hold 80 per cent equity and the state government 20 per cent.Impose 10% tax on agricultural income, says Assocham: The direct tax base has to be widened further by bringing agricultural income within its ambit with a nominal tax of 10 per cent, the Associated Chambers of Commerce and Industry (Assocham) has said. The scope for greater administrative efficiency in tax assessment and collection needs to be examined and tapped to improve compliance, the chamber study on "fiscal prudence and consolidations" says. Cielo sales sink 50%, segment slips 18%: Telco and Daewoo Motors India were the worst hit by the recession in the luxury segment
during 1997, with their sales dropping respective 52 and 50 per cent, compared with an 18 per cent decline posted by the segment. The segment has been on the decline ever since the year began. In fact, 1997 would go down in history as the year when the entire industry and the segment, in particular, went on to the reverse gear.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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