Centre may issue bonds to exporters against customs, excise outgo
The centre plans to issue a tradable and encashable bond to be issued against the payment of excise and customs duties and a fast-track scheme to refund input-level taxes to exporters. The proposal has come from the director general of foreign trade (DGFT) NL Lakhanpal to boost exports.
Maruti seeks centre approval for royalty payment to Suzuki
Maruti Udyog has sought the government's permission to pay royalty to its foreign partner, Suzuki Motor Corporation of Japan, on the 800cc, Omni and Gypsy models. The application, which was submitted to the government last week, states the royalty payments as 3,000 yen per Omni and 800 cc models; 5,000 yen for the Gypsy and 2.15 per cent on spare parts.
British Gas joins race for Indo-Bangla gas pipeline
British Gas, the UK-based energy major, has stepped in as a possible rival contender for the proposed trans-border Indo-Bangladesh natural-gas project Enron Corp of the US has mooted. British Gas is believed to be lobbying with top-level Bangladesh government officials.
Daewoo plans to raise Rs 200 crore via debt for capex
Daewoo Motors has decided to go in for a debt of Rs 200 crore to part finance its capacity expansion from 72,000 cars to 1.5 lakh cars. The equity base is also expected to be expanded by about Rs 100 crore. This will take the total investment to over Rs 3,000 crore.
Crop failure may trigger record cotton imports
India, which had exported around 15 lakh bales of cotton during 1995-96 and another 12 lakh bales during 1996-97, may have to import as much as 12 lakh bales this year -- the highest ever. This follows the cotton crop disaster in the north, where Punjab alone is estimated to have lost crop worth Rs 1,000 crore.
New government's repayments pressure seen past Rs 31,000 cr
The new government's gross borrowing programme will register a quantum jump next financial year as repayments double to touch Rs 31,000 crore. This is likely to put pressure on interest rates, and liquidity will rule at a premium, analysts said.
