The Indian Express -- Business

Sunday, November 30 1997

FOREX RATES INDICES STOCK

New excise norms to earn Rs 250 crore

With the government counting every penny to meet its target for 1997-98, the Department of Revenue is expecting an additional revenue of Rs 250 crore from the new excise assessment norms linked to maximum retail price (MRP). The MRP-based excise duty has been levied on cosmetics, toiletries, detergents, soft drinks, footwear, paints and colour television sets - there is a large difference between ex-factory price and the retail price of the product in these sectors.

Govt to shelve four more projects

Having already spent crores of rupees, the government proposes to close down four more projects during the current financial year including the Koel Karo Hydro Electric Project and National Thermal Power Corporation's (NTPC) Farakka STTP-3, taking the total number of abandoned schemes to 11 since 1994. A total amount of Rs 105.69 crore has gone down the drain on the schemes which would never be completed.

FM confident of a "second coming"

He may have run out of time, but Union Finance Minister P Chidambaram is confident of another stint in the hot seat. Speaking to reporters in Chennai yesterday, he expressed disappointment at not having enough time, but said that he was confident of getting another opportunity to complete the unfinished agenda he was leaving behind.

FM confident of a "second coming"

GDRs hit by political flux Skindia fell by 10.18% as Sensex

SBI told to open office in Russia

Ramaiah sees no major depreciation in rupee

New excise norms to earn Rs 250 crore

IndusInd mulls over floating deposit rate

Govt to shelve four more projects

Korean cos stick to Indian plans

Small car segment reving up

Industry worried over policy

Bizbits -- Swaraj net profit up