Coonoor tea traders irked over excise duty
The Coonoor Tea Traders Association has expressed concern over the reintroduction of exicse duty at the rate of Rs 2 per kg on bulk teas and said that it was affecting the industry adversely. Presiding over the sixth annual general body meeing of the association in Ooty on Monday, its chairman J Halan said the cost of production had also gone up due to this.He expressed concern over the the Tamil Nadu government's 8 per cent sales tax on tea auctions, which, he claimed was the highest among the other states. Appealing to the government to bring down the rates, he saidit would help in a big way in attracting more and more buyers during the tea auctions in Coonoor and Coimbatore.
LPG connections this fiscal
Oil industry will release about 70 lakh LPG connections to the various consumers during the current fiscal, Indian Oil Corporation chairman MA Pathan said in New Delhion Tuesday. "The oil industry has an ambitious plan to liquidate waitlists of domestic LP gas users in all the metros by the year 2001-02," Pathan said addressing a National seminar on LPG safety organised by the Loss Prevention Association of India.
About 41 million households are using LPG in India, which is being serviced through 5,600 distributors in as many as 2,100 markets which constitutes 71 per cent of the urban population, Pathan said and added that India was currently consuming five million tonnes of LPG every year which was expected to go up to seven million tonnes by 2001-02 and to 13 million tonnes by the year 2006-07.
Powerloom fabrics quota allocation
The increase by five per cent to 15 per cent in the allocation of quotas for export of fabrics under the Powerloom Exporters' Entitlement (Pee) system in the new five- year textile exports quota policy has been hailed by the powerloom industry. ``The increased quota will help the powerloom fabric manufacturers to export their production directly to the extent of five per cent,' the apex body of powerloom sector, Powerloom Development & Export Promotion Council (PDEXCIL) said in a statement.
A quota increase of at least 25 per cent was demanded by the industry, it pointed out, adding with the five per cent quota increase the sector still stood to gain as more than 50 per cent of the total cloth production would be encouraged by the enhanced allocation.
Drug manufacturers appeal
Indian Drug Manufacturers' Association (IDMA) has urged the Union Government to implement the Trade Related Inttellectual Properties Rights (TRIPs) provisions in a very careful and balanced manner so that on the genuine innovators and as well as patent-holders are rewarded through royalities for their significant product/process inventions. IDMA president GG Nair told reporters in Mumbai
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