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Road Freight Zoom By Up To 8 pct On Diesel Price Hike
By ugesh sarkar, Section News
Posted on Thu Mar 11, 2010 at 01:53:51 AM EST
It is reported that truck rentals have surged 6% to 8% while retail freight is up by 12% to 15% after a hike in diesel prices by INR 2.58 per liter ex Delhi and INR 3 per liter ex Mumbai & Chennai was announced in the Budget proposal last week.
For a nine-tonne payload between Delhi-Mumbai-Delhi, rentals rose to INR 46,000 per trip as on March 3 from INR 42700 per trip as on February 4 a rise of 7.73%for Delhi-Nagpur-Delhi INR 43,400 from INR 40,200, a rise of 7.96% for Delhi to Kolkata to Delhi INR 44,800 from INR 41,500, a rise of 7.95%, Delhi to Guwahati-Delhi INR 82,000 from INR 77,200 a rise of 6.22%.
According to a compilation made by the Indian Foundation of Transport Research and Training, a non government organization associated with the transport sector, the rise of 6% to 8% in truck rentals is at a higher side compared with the weighted impact of the diesel hike of 3.5% to 4.5%.
Mr SP Singh senior fellow and coordination of the foundation, said that "This disproportionate and concerted hike across the country has come against the backdrop of the booming transport freight market, as manufacturing and import-export trade is growing at double digits and it has improved the cargo offering by 10% to 12% in last four to five months."
Mr Singh further added that truck rentals had already gone up cumulatively by 14% to 16% during October 2009-January 2010 even without the rise in diesel price. He added that "This hike was a cushion to absorb the diesel price rise of INR 2.58 per liter ex Delhi and INR 3 per liter ex Mumbai and Chennai. However, the market forces are in favour of the truck transport industry due to oversupply of cargo and the manufacturing sector willing to pay higher freight due to increased prices of their products."
Source:steelguru.com Road freight zoom by up to 8 pct on diesel price hike
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Soon, Setting Up An Right To Information (RTI) Act Library In Pune
By akansha, Section News
Posted on Sun Mar 07, 2010 at 12:52:36 AM EST
 With Pune being one of the cities on the forefront to utilise the Right to Information (RTI) Act, the civic standing committee has made an allocation of Rs 25 lakh for setting up an RTI library.
The Pune Municipal Corporation (PMC) has taken the lead in implementing the section 4 of the RTI Act, which states that all government records should suo moto be declared by the government authorities and be made available for citizens.
The civic records are open for citizens on all Mondays between 3 to 5 pm.
Now, the PMC plans to start a RTI library and RTI cell. "Pune will probably be the first city to start such a library, where documents will be made available for citizens to read," standing committee chairman Nilesh Nikam said.
Noted RTI activist Vivek Velankar said that it surely is a welcome move. "However, we would like to know what exactly the library will have or how exactly the Rs 25 lakh will be spent. Moreover, we hope that the allocation is not diverted for other purposes as the year progresses. Because, we often see that budgetary allocations if not utilised are diverted to other projects," Velankar said.
Source: Times Of India Soon, an RTI library
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Before Unique ID, Get Ready For Population Register Entry
By ugesh sarkar, Section News
Posted on Thu Mar 04, 2010 at 01:46:02 AM EST
Even before Indians begins to get the Unique Ide- ntification Number later this year, they would already find a place for themselves in the National Population Register (NPR), beginning next month.
The government had brought coastal villages under the reg- ister in the first phase of the plan launched last year after the 26/11 Mumbai attacks.
The second phase will begin next month when enumerators list the houses where they will have to go during the 2011 Census. They will also carry a machine-readable form that they will have to fill, listing the names of people and their details across 16 other param- eters, right from their marital status, education and occupa- tion to their nationality, fin- gerprints, photograph and their present and permanent address.
The government is mandat- ed to create the register under the Citizenship Act, which will have a list of all Indian resi- dents irrespective of their cit- izenship. Like the Unique Identity num- ber, the NPR does not entail issuance of a card except in coastal areas. It is estimated that the population register would cost the exchequer near- ly Rs 3,539 crore.
According to the schedule approved by the home ministry, canvassing of information for the register will continue till September. In between, camps will also be put up to enable people who may have been missed out by enumerators to register themselves.
"The list would then be made public so that people can point out errors, intentional or oth- erwise," a ministry official said.
Source: Hindustan Times Before Unique ID, Get Ready For Population Register Entry
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RBI Allows Credit Enhancement Facility To Infra Firms
By ugesh sarkar, Section News
Posted on Wed Mar 03, 2010 at 10:31:40 PM EST
The Reserve Bank of India has extended credit enhancement facility to domestic debt raised by companies engaged exclusively in the development of infrastructure and infrastructure finance companies.
Credit enhancement can be done through issue of capital market instruments such as debentures and bonds.
Credit enhancement will be permitted to be provided by multilateral/regional financial institutions and Government-owned development financial institutions, the RBI said in its notification on External Commercial Borrowing policy for structured obligations.
The underlying debt instrument should have a minimum average maturity of seven years and prepayment and call/put options would not be permissible for such capital market instruments up to an average maturity period of 7 years.
Guarantee fee and other costs in connection with credit enhancement will be restricted to a maximum 2 per cent of the principal amount involved.
Source: Realty Plus RBI allows credit enhancement facility to infra firms
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Proposed New Rail Line To Bring Mumbai, Kolkata Closer
By ugesh sarkar, Section News
Posted on Tue Mar 02, 2010 at 08:49:04 PM EST
Distance between Mumbai and Howrah via Jabalpur by train will reduce by about 400 km if the 85-year-old Barwadih-Chirimiri rail line project takes shape.
In the rail budget for 2010-11, Railway Minister Mamata Banerjee had announced to conduct the survey of new line between Chirimiri (Chhattisgarh) and Barwadih (Jharkhand). The proposal to connect the two mineral rich pockets by rail has been pending for more than eight decade.
Highly placed sources in the railway ministry told Business Standard that the Britishers were the first to moot the proposal way back in 1925 to connect Chirimiri and Barwadih, both coal rich areas, by rail. The plan was aimed to facilitate transportation of minerals.
The Britishers knew the importance of the rail line and the work on the project was started in the early 1930s after conducting the survey, sources added. The required land for the project was also acquired. But the work was stopped during the World War II and the project had been pending since then, sources said.
The new rail line would connect Howrah via Latehar, Dhanbad and Mumbai via Jabalpur, Itarsi. It would help reducing the rail distance between the two Metros. At present, both the Metros are connected by two different rail routes one via Nagpur, Raipur and another via Itarsi, Jabalpur.
Source: Business-standard Proposed new rail line to bring Mumbai, Kolkata closer
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Global Pain: Non-Resident Services Outside India To Be Taxed Retroactively
By akansha, Section News
Posted on Tue Mar 02, 2010 at 02:03:00 AM EST
Though the Budget was welcomed by the industry and markets, it threw up some unpleasant surprises as well. One such proposal is that the services provided completely offshore by a non-resident to a resident of India would be caught within the Indian tax net.
According to legal experts, the Budget has proposed a fundamental change to India's source rules governing non-resident income in the nature of royalties, interest and fees for technical services. As a result, a non-resident may now be taxed on such income, even if it has not rendered any services within India, or does not have a residence, place of business or business connection in India. Under the existing law, a non-resident is taxable in India only on income that is sourced in India.
The change proposed in the Budget has the effect of overriding the `doctrine of territorial nexus' that was read into the `law of the land' by the Supreme Court. "The proposed alteration to India's source rules is likely to have adverse ramifications on most conventional cross-border service models. For example, now even the offshore service element in every EPC/turnkey contract would be taxable in India. This is also likely to influence the dynamics of international project financing. Likewise, income earned by foreign advisors and consultants would now be taxable even if no part of the service is performed in India, but simply because the same is utilised in India," said an official of law firm Nishith Desai Associates.
There's also a fear that the proposed change may also give rise to double taxation issues especially in a situation where a foreign country refuses to grant its resident a credit for taxes paid in India under a conflicting or asymmetric source rule.
Source: The Indian Express Global pain: Non-resident services outside India to be taxed retroactively
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Budget Highlights By Finance Minister Pranab Mukherjee in Lok Sabha on Friday
By ugesh sarkar, Section News
Posted on Fri Feb 26, 2010 at 01:06:27 AM EST
Following are the highlights of the Budget speech for 2010-11 by Finance Minister Pranab Mukherjee in Lok Sabha on Friday.
- India weathered economic crisis well
- Need to review stimulus imparted to econony
- Need to review public spending and mobilise resources
- High food inflation due to bad monsoon & drought conditions
- Steps being taken to tackle price rise
- Economy in far better position than it was eight years ago
- First challenge is to quickly revert to 9% high GDP growth
- Second to make growth more inclusive and consolidate gains
- Impressive recovery in past few months
- Economy stabilised in Q1 of 2009 itself
- 18.5% manufacturing growth in Dec highest in two decades
- Faster recovery seen in the coming months
- Figures for merchandise exports for January encouraging
- Food security strengthened
- Govt's focus on services to economically backward sections
- Hope to implement Direct Tax Code from April 2011
- Status paper on public debt within six months
- Endeavour to implement General Sales Tax in April 2011
- Govt will raise Rs 25,000 cr from disinvestment in PSUs
- Market cap of five PSUs listed since October up 3.5 times
- Fuel price deregulation proposal will be taken up
Source: The Pioneer Budget Highlights By Finance Minister Pranab Mukherjee in Lok Sabha on Friday
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Dalvi Bats For A Dept To Check Illegal Buildings
By akansha, Section News
Posted on Thu Feb 25, 2010 at 12:22:03 AM EST
 District collector Chandrakant Dalvi said on Tuesday that the district administration has asked the state government to approve the creation of a building construction department in the collectorate to detect and demolish illegal constructions outside the municipal corporation's limits in the district.
The revenue department does not have a dedicated administrative set up to check whether any illegal construction is going on in the district and initiate action against it, Dalvi said.
The revenue department has talathis for every village who are already burdened with maintaining land records. They could not keep track of the illegal construction, he said.
"Since there is a problem of illegal construction in some high growth areas of the district, the administration had sent a proposal to the government six months ago for setting up a dedicated building construction department," he said.
The proposed department would be headed by a deputy collector and it would have officers from the town planning department. Flying squads to detect and demolish illegal construction in the district would be set up.
Source: dnaindia.com By Dinesh Thite Dalvi bats for a dept to check illegal buildings
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New Annual Rateable Value (ARV) Rates To Be Effective From April 1
By akansha, Section News
Posted on Wed Feb 24, 2010 at 11:37:59 PM EST
The Pune Municipal Corporation (PMC) will calculate the annual rateable value (ARV) of new and unassessed properties as per the revised rates after March 31.
In a press statement on Wednesday, Vilas Kanade, head of the civic tax department, said that, currently the ARV of residential properties in the city is calculated as per Rs 1 (minimum) and Rs 3 (maximum) per sq.ft. For non-residential properties, the ARV is calculated with rates of Rs 4 (minimum) and Rs 7 (maximum) per sq.ft.
"From April 2010, the ARV for new and unassessed residential properties will be calculated at the rate of Rs 1.25 (minimum) and Rs 3.25 (maximum) per sq.ft. For non-residential properties the ARV will be calculated at the rates of Rs 4.5 (minimum) and Rs 7.5 ( maximum)," Kanade said.
He added, "Basically we are trying to attract property owners who have not approached the tax department for assessment of their properties. We appeal to such citizens to approach the PMC before March 31 and get their properties assessed at the existing rates."
In the last two years, the PMC has included about 80,000 properties in its tax net. However, an estimated 45,000 properties still remain out of PMC's reach. The municipal commissioner has asked ward offices to speed up assessment of properties and submit a report by the end of this month.
Source: Times Of India New ARV rates to be effective from April 1
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Panel To Shield Babus From `Pointless' Charges
By ugesh sarkar, Section News
Posted on Wed Feb 24, 2010 at 10:36:14 PM EST
WHAT ABOUT CORRUPTION? Proposals to tighten the law against graft in cold storage
Concerns that "frivolous" complaints against secretary -rank bureaucrats at the Centre could end up harassing them have prompted the govern- ment to give them a second protective shield.
The government last month set up a screening commit- tee under Cabinet Secretary K.M.
Chandrasekhar to examine all charges levelled at secretaries to the central government to decide if allegations against them should be chucked into the dustbin or investigated.
But many other proposals to tighten the law against corrup- tion are still in the cold storage.
The Lok Pal Bill has been in the freezer for decades and there is no sign that Prime Minister Manmohan Singh -- who as an MP had signed a rep- resentation to enact the law -- would push it within the gov- ernment, and Parliament.
Minister of State in the PMO Prithviraj Chavan recently refused to outline a deadline to move the Bill in Parliament, say- ing there was "no consensus" within the government on set- ting up the Lok Pal. He did not respond to queries if a mecha- nism had been created to evolve the elusive consensus. There was, similarly, no con- sensus within the government on simplifying the law on for- feiture of property of corrupt officials who used slush funds to defend themselves in court.
Source: Hindustan Times By Aloke Tikku Panel To Shield Babus From `Pointless' Charges
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Rail Budget 2010-11 - Didi's Janata Express, No Increase In Fares, Freight
By ugesh sarkar, Section News
Posted on Wed Feb 24, 2010 at 07:53:51 PM EST
- Rs 4,411 crore set aside for expansion
- 54 new trains announced
- 94 stations to be upgraded
- New business model on anvil
Railway Minister Mamata Banerjee today proposed no increase in passenger fares and freight rates while announcing a slew of concessions, including those for carriage of foodgrains, kerosene and fertiliser. Presenting her second budget for the UPA government she announced that there would be a reduction of Rs 100 per wagon in freight charges for carrying fertiliser, foodgrains for domestic consumption and kerosene. She promised of a new business model to encourage private investment along with social commitment but without privatisation.
"Our objective is inclusive growth," she said while presenting the Railway Budget for the year 2010-11, adding that her main consideration in this year's budget was social responsibility rather than mere commercial viability of projects. "We have set our goals in the Vision 2020 document and we will achieve it," the minister said, referring to the document unveiled in December that has targeted making over 30,000 route kilometres or multiple lines against 18,000 route kilometres at present. 
RAILWAY BUDGET AT A GLANCE
Mamata also proposed to reduce the maximum limit of service charge on e-booking of tickets to Rs10 for sleeper class and Rs 20 for AC class. The present maximum charge is Rs 15 nd Rs 40 respectively. This is the seventh year in a row that passenger fares have not been raised. Announcing a slew of concessions for passengers, Mamata proposed free travel for cancer patients going for treatment in three-tier AC and sleeper class and continuance of concessions for students of madrassas and journalists.
The minister said 101 new suburban services will be introduced in Mumbai and more services will be launched in Kolkata and Chennai.
A special train, Sanskriti Express, to mark the 150th birth anniversary of Rabindranath Tagore will run across the country and also to Bangladesh. Special tourist trains called Bharat Teerth will be started on 16 routes, while six long-distance non-stop Duronto Express and four short-distance Duronto day trains will be introduced, the Railway Minister said. She also announced that the technicians of the regional film industry would get 75 per cent concession in second class sleeper and 50 per cent in higher classes in all trains while travelling for film production-related work. The benefit of 50 per cent concession to the spouse of accredited journalists has been extended to the companions of those who do not have a spouse. Their dependent children of up to 18 years of age would also get 50 per cent concession once a year.
Source: The Tribune By Girja Shankar Kaura Rail Budget 2010-11 - Didi's Janata Express, No Increase In Fares, Freight
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Helpline For Water-Related Issues On Cards
By akansha, Section News
Posted on Wed Feb 24, 2010 at 01:06:09 AM EST
The Pimpri-Chinchwad Municipal Corporation will soon start an exclusive helpline for redressal of all complaints related to water supply and water meters.
Announcing this in the draft budget, municipal commissioner Ashish Sharma said that the helpline will be a toll free number. A record of all complaints will be kept.
The PCMC will also start an assistance centre where citizens can get help related to water connections and repairs.
The corporation will carry out a water audit to identify the extent of water losses through leakages. It is estimated that there is around a 30 per cent loss of water through water leakages, but this is not verified. The audit will find out the exact figure, Sharma said.
Meanwhile, phase IV of the water supply scheme will become operational in March. The PCMC will start receiving 60 to 70 million liltres per day (MLD) of water through this scheme. At present, the corporation lifts 360 MLD water from the Pavana river. From April, lifting of water will increase to about 425 MLD. A provision of Rs 23 crore has been made in the draft budget for water supply works.
Source: Times Of India Helpline for water-related issues on cards
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No-Frills Budget For Twin Township: Infrastructure Gets Precedence
By akansha, Section News
Posted on Wed Feb 24, 2010 at 12:34:30 AM EST
This fiscal, focus to be on JNNURM, decentralisation
PIMPRI-CHINCHWAD Municipal Com- missioner Asheesh Sharma presented a draft budget of Rs 2188.65 crore for 2010 2011 before the standing committee on Tuesday. The budget laid emphasis on completion of JNNURM projects and decentralisation of the power.
Sharma announced a budget outlay which includes an expenditure of Rs 1003.89 crore on JNNURM works. The PCMC budget has increased by Rs 121 crore as compared to last year. The tax hike of eight per cent will also be implemented in 2010 `11.
The PCMC has decided to give priority to development works like water supply, roads, sewage treatment plants education in the budget. It will also adopt the build, operate and transfer (BOT) route on completing many projects, in a bid to save on capital ex- penditure.
In the past two years, the octroi collection could not meet its target due to recession in the industry. Also, PCMC coffers were drained due to huge amount of expenditure on development projects being implemented under JNNURM prompting it to increase taxes by eight per cent to get additional revenue. Sharma presented the budget copy to standing committee chairman Dnyaneshwar Bhalerao at the meeting where the members demanded that they needed to study the budget.
The meeting was adjourned till Friday.
Sharma said PCMC revenues were not rising as financial requirements had increased. The expenditure on salaries of staff, public hospitals, water and electricity bills were also increasing. I In 2010 2011, PCMC would make renewed efforts to recover octroi, property tax, building permission fees. It would also appoint agencies to do a water audit to keep track on water wastage in the city.
Source: The Indian Express No-frills budget for twin township: infrastructure gets precedence
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e-Money Transfer To Be Faster, Costlier From March 1
By ugesh sarkar, Section News
Posted on Tue Feb 23, 2010 at 08:44:21 PM EST
Online transfer of funds from bank accounts may soon become faster, but this can lead to higher charges for customers, as banks may have to pay the Reserve Bank a fee for this service from April 1.
The National Electronic Fund Transfer (NEFT), which allows bank customers to transfer funds electronically, has been a highly successful service ever since it was launched in late 2005.
In a circular to the chiefs of all member-banks providing the NEFT service, the RBI has asked the banks to take necessary measures to "strengthen the NEFT system in terms of availability, convenience, efficiency and speed" from March 1
Source: The Tribune e-Money Transfer To Be Faster, Costlier
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BSNL Introduces New System For Delivery Of Bills In Pune
By akansha, Section News
Posted on Tue Feb 23, 2010 at 01:51:15 AM EST
Over four lakh Bharat Sanchar Nigam Limited (BSNL) customers in Pune will now receive their bills faster and regularly.
BSNL and the department of posts, from last week, introduced a new system called beat code mapping of postal addresses of BSNL customers. The beat code identifies a particular postman who has been assigned a certain beat in a post office. According to the postal department, the system will reduce delays in delivery or non-delivery to almost nil from the existing 4 to 5 per cent.
The beat code will be printed on the customer's bill. This particular number will facilitate sorting at the delivery post office of the bill. The system therefore will reduce the delay in delivery.
The system will also provide details about the delivery as every bill and postman will have an assigned bar code. The relevant postman could be now directly questioned for non-delivery of a particular phone bill, which was not possible earlier.
According to the postal department, the beat mapping system has also helped in identification of incorrect addresses of BSNL customers. All such addresses were rectified and changes made in BSNL's records.
Source: Times Of India BSNL introduces new system for delivery of bills ]
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News
Tuesday February 23rd
. Ration Shops To Distribute Seized Essential Goods (0 comments)
Monday February 22nd
. Civic Body Okays 8 Per Cent Tax Hike (0 comments)
. Civic Body To Prefer Built Operate And Transfer (BOT) Projects (0 comments)
. Rs 52 Cr In Tax Arrears, Pimpri Civic Body Warns 6,000 Defaulters (0 comments)
Saturday February 20th
. PMC Panel Lashes Out At The Administration For Pending Projects (0 comments)
. Construction At Heritage Sites Likely To Go Up (0 comments)
Friday February 19th
. PCMC To Start Home-Delivery Of `Below Poverty Line' BPL Certificates (0 comments)
. Cyber Cafes Must Insist On Customers' Photo IDs (0 comments)
Thursday February 18th
. New Constructions Must Be Eco-Friendly (0 comments)
Tuesday February 16th
. Governance: RTI, Mum's The Word, The Centre Plans To Manacle The RTI Act (0 comments)
Sunday February 14th
. No Immediate Hike In Fuel Prices (0 comments)
. Online RTI Applications For NRIs! (0 comments)
. Illegal Construction Identified 99,000 sq Metres In Ambegaon Area Under The Scanner (0 comments)
Saturday February 13th
. Separate Corridors For Choppers In Mumbai, Delhi (0 comments)
. Sugar At Rs 20 A kg For Above Poverty Line Card Holders By Month-End (0 comments)
. Water Supply In PCMC Areas To Be Disrupted (0 comments)
Thursday February 11th
. Chapekar Chowk Will Get A Flyover In A Year, Hurdles Like Land Acquisition Have Been Cleared (0 comments)
. From April, Shell Out More In Civic Taxes (0 comments)
Wednesday February 10th
. Govt Plans Satellite Mapping To Prevent New Slums (0 comments)
. In India, Many Top Athletes Work On The Railroad (0 comments)
Tuesday February 9th
. The Upmarket Area Now Cries For Parking Space, Gardens (0 comments)
Monday February 8th
. Restructured Loans, Realty, SMEs To Test Banks' Asset Quality (0 comments)
. Poverty Could Mitigate Crime, Even Murder: SC (0 comments)
. Why You Will Have To Live With SMS Ads (0 comments)
Sunday February 7th
. India To Launch Helpline For Tourists (0 comments)
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