India Business Forum

Search
The Indian Express

The Financial Express

Latest News

Screen

Express Computer
Feedback
Travel

Matrimonials

Careers

Lifestyle

Astrology

E-Cards

Holi
Columnists

Graffiti

Crossword

Letters

Environment

Jewellery
Info-tech

Power

Steel

Advertisers Forum

Business Forum

Morning Digest

In association with Amazon.com

Books Music

Enter keywords


FINANCIAL EXPRESS FRONT PAGE

Corporate

Economy

Expressions

Markets

Leisure

 

Tuesday, March 2, 1999

Commodity briefing 

 
Plea to abolish cess on silk fabrics

The Karnataka State Weavers Committee has appealed to state government to abolish the 1.5 per cent cess (sales tax) on silk fabrics and sarees. Committee working president TV Maruthi said silk fabrics and sarees also came under additional central excise as they were goods of special importance. The centre had already written to state governments not to levy sales tax on silk fabrics and sarees. Due to the levy of sales tax,weavers were subjected to a lot of harassment, particularly when they brought their goods to places like bangalore to sell. Many times their goods were confiscated for want of documents. Sometimes, these weavers, who did not have any definite buyers, went from shop to shop to earn a competitive price. They had to return with unsold sarees and fabrics. But commercial tax officials 'harassed' them by fining or confiscating their goods, he alleged.

Select dry fruits ease

In New Delhi, almond california and its kernel drop in the localdry fruit market, due to lack of buying. Almond california and its drop by Rs.. 100 and Rs 2 to close at Rs 7100-7300 and Rs 255-256 from previous level at Rs.. 7200-7400 and Rs 257-258 respectively.

Sugar prices steady

In New Delhi, in thin trading, sugar prices generally ruled steady on the primary sugar market today despite the government's decision to raise the import duty by 5 per cent from 20 to 25 per cent coupled with 10 per cent surcharges on the basic duty. According to marketmen, traders were in festive "holi" mood and this attributed to business on a low key. Following were today's quotations in Rs per quintal: Sugar ready M-30 1470-1500, S-30 1440-1450, Sugar mill delivery M-30 1350-1410, S-30 1340-1375, Imported sugar 1470-1485, sulphor bold 1370-1410, mini medium 1330-1350, dust 1300-1335, galawat 1190-1230, cutting 1240-1310, khandsari crusher 1300-1335. Sugar mill gate (duty excluded) : sugar mill delivery M-30: Khatoli duty paid new 1450, Modi nagar 1350, titabi 1335, amroha new1335, mawana 1440, sakoti new 1350, samali 1360 duty paid, baghpat s-30 N.T., baghpat (s.M.) 1230, Bulandshaher s-30 N.T., bulandshaher new 1320, nandai 1270 and imported sugar 1430 ex Amritsar.

China copper output

The Chinese copper production was expected to rise 4.5 million tonnes from 1.1 million in 1998, a analyst said. A production increase at large smelters make up the increase in total production, metals outlook seminar at the weekend. China has said that it wanted to shut some of its less efficient mines and smelters.

Tur dal growers woes

Tur dal growers in northern Karnataka continue to suffer this year, but for a different reason--crash in prices due to bumper crop. Many committed suicide last year due to natural calamity and the subsequent pest attack which had damaged the crops forcing the growers into a debt trap. But due to bumper crop this year, the wholesale prices had slumped to Rs 1400-1700 from Rs 2700-3400 last year in Bidar and Gulbarga districts, where tur dal isgrown in 2.57 lakh hectares. The suicide by farmers had hit the headlines last year and the hopes of farmers getting a good price this year has gone up in smoke again. Unless the Government intervened to stop the downward trend in the prices, the future seems to be bleak for the growers. Farmers, narrating their tale of woe to a UNI correspondent, said, "we wanted to forget last year's experience as a bad dream and were hoping for a good return. Now we are back to square one as the prices have crashed." Farmers associations and political parties have demanded that the state government intervene and rescue tur growers.

French cold chains

The establishment of high technology milk refrigeration units developed by France may bring about a revolution in milk chilling process in the country. Dr Dharmavraddhi, professor in Devi Ahilya Vishwa Vidhyalaya's school of Energy and Environmental Studies, said that under the supervision of the Amul Cooperative Society, a successful experiment had been made atNapad village in Anand district of Gujarat last year. It was found that this unit could surmount rural problems like unexpected power cuts, variation in electric voltage and non-availability of electrician, he added. These units with capability of refrigerating 1000 litre to 10,000 litres of milk could be established with the help of cooperative societies. The 1000 litre unit will cost around Rs two lakh.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


Top


Ashwa Energy Capsules

Global Tenders invited by MSTC

Maruti Udyog Ltd.

 

Click here for a printer-friendly page Printer-friendly page

One of India's Leading Banks



EXPRESSindia.com
News   Business    Sports   Entertainment
The Indian Express | The Financial Express | Latest News | Screen | Express Computers
Travel | MatrimonialsCareersLifestyle | Astrology
E-Cards | Graffiti | Environment | Jewellery | Info-tech | Power