Wednesday, November 4, 1998
Panel for 6-yr tax break for hardware sector
The national task force on information technology (IT) on Tuesday recommended various tax concessions, including a six year tax holiday, for promoting manufacture and exports of computer equipment in the country.
AI declares itself broke, seeks bail-out
National carrier Air India (AI), reeling under a net loss of Rs 106 crore in the first five months of 1998-99, has stated that it will find it difficult to survive unless the government organises a financial bail-out for it. AI's revival scheme envisages a Rs 1,924-crore fresh equity infusion. Of this, AI expects the government to put in an initial Rs 1,000 crore.
NTPC resumes supply to WB
The National Thermal Power Corporation (NTPC) has resumed power supply to West Bengal on assurance that the current dues will be paid and the outstandings be eliminated over a period of time.
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