The Financial Express -- Economy

Wednesday, December 24 1997

Exporters get a breather as govt shelves income-tax panel report

The approaching general election has forced the government to put on hold consideration of the report of an expert group that had sought to dilute the benefits available to exporters under Sections 80-HHC, 10A and 10B of the Income-Tax Act, 1961. As a result, exporters have earned a reprieve.

Indo-Russian talks on for N-plant in TN

The Centre is holding talks with the Russian government for setting up a 2000MW nuclear power plant at Kudankulam, Tamil Nadu. The bilateral agreement, to assist the implementation of the proposed power station, is likely to be signed next month. Russia will help in the construction of two units of pressurised water reactors (VVERs) of 1000 MW each.

Jewellery exporters urge RBI to review decision on penal interest

Jewellery exporters have urged Reserve Bank governor Bimal Jalan to review the imposition of a 20 per cent penal interest on overdue export bills. Jewellers say the move has come at a time when domestic exports have fallen in value terms and when analysts have widely portrayed dim growth prospects in the near term.

Contingency fund corpus to be hiked

MNCs exempt from penalty for salaries paid in foreign currency

I-T department seizes diary with names of persons in Rs 30-cr fraud

Singapore chemical sector spurts 12%

Asian currencies wither on rating downgrade by S&P

Jewellery exporters urge RBI to review decision on penal interest

Ministry cuts oil demand forecast for 1997-98

Exporters get a breather as govt shelves income-tax panel report

Global brands may nudge out domestic PCs in '98

UNDP lauds success on poverty front

Rows over bank head could be biggest Emu hitch

Centre bleak on cardamom export outlook, gives up hope on supremacy