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Pro-dam activists demand early resumption of suspended projects
Ahead of the first meeting of the Ganga River Basin Authority (GRBA) in New Delhi on October 5, intensive lobbying is on to build pressure on the Centre and the Uttarakhand government for the resumption of three hydel projects — 600-Mw Lohari Nagpala, 480-Mw Pala Maneri and 381-Mw Bhaironghati — which were suspended under the pressure of environmentalists and VHP leaders.

Sunil Jain: Tax Advantage
Most know private sector firms are a lot more efficient than public sector ones, but a little bit of perspective is required here. According to data from the latest budget documents, public sector firms, on average, pay around a fifth more effective tax rates in comparison to their private sector counterparts. So, while public sector companies paid an effective tax rate of 25.69 per cent in 2007-08, the figure was a lower 21.28 per cent for private sector firms. The average of 22.24 per cent for all firms, of course, was much lower than the statutory 33.99 per cent. The reason for this is the tax benefits claimed, obviously more by the private sector, particularly for export profits under the Software Technology Parks of India (STPI) scheme (Rs 11,734 crore) and accelerated depreciation (Rs 14,344 crore of taxes were foregone on this account).

News of the day

India Eco Summit: Indians spending more on personal care
Shahana Joshi / New Delhi November 11, 2009, 0:34 IST
Corporate

Rs 150-cr products destroyed in IOC fire

Blaze still on, investigation ordered - IOC shows Rs 284 cr Q2 profit on cheaper crude, drop in losses - Deora says fire at IOC depot has to die down on its own - Five killed, 150 injured in IOC depot blaze - OMCs may buy biodiesel at Rs 34 a litre - NEWSALERT: IOC appoints K K Jha as director - PSU oil companies may lose Rs 25,000 cr on under-recovery The fire at Indian Oil Corporation’s bulk storage depot at Jaipur last evening is likely to have destroyed petroleum products worth Rs 140-150 crore. The fire continues to rage at the site, being allowed to burn under controlled conditions, so that the intensity and likely damage is minimised. The government has constituted a committee headed by former Hindustan Petroleum chairman and managing director M B Lal to enquire into the reasons behind the fire. So far, six employees are reported missing, and presumed dead, and the number of injured is likely to be 21, said a company release. “The products were insured by ICICI Lombard,” S V Narasimhan, director (finance) told reporters. “The extent of damage and loss in terms of product and property can be assessed only after the fire is fully extinguished,” a press release added. The Jaipur terminal is an automated one and equipped with state-of-the-art safety and fire-fighting gadgets. However, the magnitude of the fire was too huge to be controlled with available equipment. Petroleum minister Murli Deora visited the site and announced an ex-gratia payment by IndianOil ranging from Rs 10 lakh each in case of death, Rs 2 lakh each for the seriously injured and Rs 1 lakh each for those with minor injuries. By preliminary reports, the fire started at about 7.30 pm yesterday due to a pipeline leak at one of the petrol storage tanks. The depot caters to Jaipur and adjoining markets, though the release said HPCL’s recently commissioned terminal at Bagru, near Jaipur, on the Mundra-Delhi pipeline would take care of the requirements in the area, along with other nearby oil depots, at Rewari, etc.


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