Tuesday, March 23, 1999
today's calendar
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B U S I N E S S | Tuesday, March 23, 1999 |
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spotlight today's calendar |
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Bill on protection of
farmers’ rights mooted |
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Spice launches ‘Agri
Track’
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Banks’ farm advances
go up Government
rules out financial crisis LNG
project to cover Punjab Markfed
offices to get VSAT link Radico
Khaitan to expand 3
Com to set up subsidiary |
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Bill on protection of farmers’ rights mooted NEW DELHI, March 22 (PTI) — The seed policy review group, set up by the Department of Agriculture and Cooperation, has mooted the enactment of a “Plant Variety and Farmers’ Rights Protection Bill” and strengthening of quarantine infrastructure to bring about wide-ranging reforms in the seeds sector. The group has suggested five-point framework for reforms in the sector which also includes seed production and distribution, import and export of seeds, quality control and seed legislation. The draft seed sector reforms has been circulated at the ongoing two-day National Conference on Agriculture for Kharif Campaign 1999, which began here today, and a discussion on the issue is slated for tomorrow. Referring to plant breeders and farmers’ rights, the group said the objective should be to stimulate investment in research and development of new plant varieties. It should promote growth of seed industry, ensure availability of high quality seeds and planting materials to the farmers, the group said, adding all categories of plant except micro-organism should be covered. On the protection of new varieties, it said the period of protection should be 18 years for trees and vines and 15 years for other plants, while it should be renewed every three year and breeders’ authorisation was mandatory for commercial use of a protected variety. Suggesting plant varieties register for new varieties, the group said registration would confer exclusive right to produce, sell, market, distribute, import or export the variety. A plant varieties and farmers right protection authority would be set up and it would be an independent and permanent body vested with executive authority for implementation of the act. The benefits should be shared with the breeder and the quantum would be determined by the plant varieties protection authority. As far as farmers’ rights was concerned, the group said it would be save, use, exchange, share and sell farm produce of a protected variety, while the researcher’s right was free and complete access to protected varieties for bona fide research purposes. Communities rights included compensation for contribution in evolution of a new variety, while a national gene fund would be constituted from the proceeds of benefit sharing, royalties and communities’ compensation. On seed production and distribution, the group called for detailed perspective plans based on seed multiplication rates and seed replacement rates with the state governments formulating them on a realistic basis. It also suggested formation of a national seed grid to collect comprehensive data on availability of different varieties of seeds. Calling for introduction of seed crop insurance in select seed producing States for specific crops, the group said subsidies on certified seeds should be reviewed and if it was to be continued then the subsidies should be restricted to crops which have a high seed rate like certain oilseeds and pulses. Seed banks should also be established to meet shortages due to contingencies like natural calamities. On the import-export front, the group said imports should be allowed only from identified, reliable and quality sources. Imports of seeds and planting materials which could harm environment or food security should be disallowed, while vegetable shipments into the country should be subject to a system of compulsory registration. Stressing the need for formulation of a long-term policy for export of seeds, it said a decision on export proposals should not be on an ad hoc basis and case to case consideration of proposals should be dispensed with to the extent possible. A National Seeds Board should be set up with powers to constitute a central seed certification agency, it said, adding that an increase in the import of seeds and planting material necessitated strengthening of quarantine infrastructure. The other suggestions
include introduction of national register of seed
producing agencies and compulsory registration of
varieties bases on multi-locational testing and
verification of characteristics.
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NEW DELHI, March 22 (PTI) — India is likely to achieve record production in foodgrain, oilseeds, onions and potatoes this year against shortfall last year leading to sharp spurt in prices of essential items. “Perhaps many records
will become part of history by the time this years’
rich harvests - be it in foodgrains, oilseeds or the ever
troublesome onions or potatoes - reach the granaries or
storehouses,” Agriculture and Cooperation Secretary
Kamal Pande, inaugurating a two-day National Conference
on Agriculture for Kharif Campaign said today. |
Spice
launches ‘Agri Track’ CHANDIGARH, March 22 — Spice Telecom today launched ‘Agri Track’, a service which will provide current rates of several commodities like vegetables, fruit, pulses, rice, gur, cotton yarn, fisheries and poultry products from over 10 mandis in Punjab and major mandis across India. Mr Sean Dexter, Managing Director, Spice Telecom (Punjab) and “such information will ensure that farmers and traders get the best deal for their purchases and sales”. The mandis include Chandigarh, Delhi, Amritsar, Ludhiana, Patiala, Mumbai, Kanpur, Chennai Khanna. “The services will be free of charge till April 13” (Baisakhi), said Mr Dexter addressing a press conference here. By dialling 560 subscribers can register themselves as traders and can buy and sell agricultural produce through Spice Telecom’s Agri Track service, which has been set up along with Nestor Mianwal Network Pvt. Ltd. The commodities’ rates can be obtained by dialling 559. Spice also introduced a mobile bus. The bus carrying handsets
and mobile phone accessories will tour villages and Spice
staff will answer queries about the Agri Track. |
Banks’
farm advances go up CHANDIGARH, March 22 — Mr Rashid Jilani, MD, Punjab National Bank, said here today that aggregate bank deposits in Punjab increased to Rs 31,215 crore as in December, 1998, registering a growth of 18.7 per cent against 18.6 per cent during the corresponding period. The gross credit in the state expanded by Rs 2090 crore from Rs 10,117 crore to Rs 12,207 crore exhibiting growth of 20.7 per cent. Presiding over a State Level Banker’s Committee meeting. Mr Jilani said that SSI advances increased by Rs 579 crore to Rs 2,883 crore, thus showing growth of 25.1 per cent. The SL Kapoor Committee on credit delivery to the SSI sector has given its recommendations and the RBI has accepted some of these. Banks in Punjab opened 42 specialised SSI branches to cater to the credit needs of SSI sector. He said that agriculture advances in the state during the review period witnesses an increase of Rs 619 crore — from Rs 2097 crore to Rs 2716 crore. Mr Rajan Kashyap, Principal Secretary Finance, Punjab, said that since the Punjab Budget is slated for March 24, he cannot announce future plans. Mr Kashyap who was the chief guest praised the banks for increasing the advances, particularly to agriculture and small scale industries. He requested the banks to increase the credit deposit ratio (CD) to a reasonable level. The government of Punjab has recently cleared new ratio medium and large industrial projects financed under SIDBI schemes, he said. Mr S.K. Chawla, General Manager, Punjab National Bank (Punjab zone) said that the Punjab Government has established the Infrastructure Development Board under the chairmanship of the Chief Minister. With this the banks will get fresh avenues to expand their credit portfolio. Mr Chawla said that implementation of Government sponsored schemes is on the top priority agenda. Under the Prime Minister’s Rozgar Yojana 1998-99, banks in Punjab have sanctioned 8,909 loans cases up to 28.2.99 against the annual target of 9,000. The others who attended
the meeting were Mr SK Awasthi, General Manager PNB, Mr
Sardara Singh, GM, RBI; Chandigarh; Mr N.R. Kannan, Chief
General Manager NABARD; Mr D.S. Guru, Director Industries
(Pb), Mr I.C. Roul, Director IF & B (Pb), Ms P.
Kumar, Deputy General Manager RBI Chandigarh; Mr B.K.
Batra, General Manager, IDBI, Mr NS Kang, MD, Punjab
Financial Corporation, and Mr PES Vidya Sagar, GM SIDBI. |
Government rules out financial crisis NEW DELHI, March 22 (PTI) — The government today ruled out any constitutional or financial crisis due to the non-passage of the Appropriation Vote on Account Bill by the Rajya Sabha before it adjourned for the three-week long recess. Minister of State for Parliamentary Affairs Ram Naik discounted reports that a financial crisis was in the offing and the government would not be able to give salaries to its employees because of non-passage of the Bill. He said if the Upper House did not return a Money Bill within 14 days of its receipt from the Lok Sabha, it would be automatically deemed to have been passed by Parliament. Lok Sabha sources said the Bill had been sent to the Rajya Sabha on March 17, a day after the Lower House passed it. The Upper House was adjourned on March 19 for the recess. The sources said counting 14 days inclusive of March 18, the government would be free to draw money from the Consolidated Fund of India from April 1. The Appropriation Bill passed by the Lok Sabha on March 16 had authorised payment of certain sums from the Consolidated Fund for the services of the Union for the first four months of the new financial year 1999-2000. Article 109(5) of the
Constitution says: “If a money Bill passed by the
House of the People and transmitted to the Council of
States for its recommendations is not returned to the
House of the People within the said period of 14 days, it
shall be deemed to have been passed by both
Houses...” |
LNG project
to cover Punjab NEW DELHI, March 22 — A seven million tonne liquefied natural gas (LNG) project for the production of urea has been recommended by the core group on import of LNG. The report was presented to the Union Minister for Chemicals and Fertilisers, Mr Surjit Singh Barnala, here today by the Managing Director of IFFCO, Mr U.S. Awasthi. The project, to be implemented as an integrated chain with overseas liquification plant, LNG tankers, a regasification terminal and a gas delivery system with pipelines and compressors, can also serve complementary sectors like power, domestic gas etc. The Department of Fertilisers had constituted a core group headed by Mr Awasthi in July last year to look into the details of constraints in the availability of feedstock and fuel for the fertiliser sector and suggest possible solutions. Mr Barnala said the report has gone into various aspects of the supply of gas and examined in detail the feasibility of importing LNG into India. The gasline, as proposed by the study, will run through Orissa, Bihar, Uttar Pradesh, Delhi, Haryana and Punjab. The group has identified
Kishorprasad on the eastern coast, north of Paradeep in
Orissa as the most preferred location for the
regasification terminal. |
Markfed
offices to get VSAT link CHANDIGARH, March 22 — Punjab Markfed has decided to link all its district offices and major plants with the Head Office through a satellite using VSAT to ensure efficient communication. With this all entries made in the computer at one point will be available at all locations in Chandigarh. Four districts — Patiala, Ludhiana, Moga and Jalandhar — have already been linked and the remaining districts are expected to become operational by April next. Announcing this here today, Mr G.S. Sandhu, MD, Markfed, said that Markfed was paying huge telephone bills due to its commercial operations like procurement of wheat, paddy and shelling of paddy etc. All field officers engaged in business in different parts of Punjab were making STD calls frequently to run its various business operations. The VSAT system would reduce expenditure on telephones. Mr Sandhu said all major
plants at Khanna, Gidderbaha, Kapurthala, Mohali,
Jalandhar and Bathinda would also be connected through
VSAT shortly. This system has been provided by Punjab
Wireless Systems Ltd. |
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NEW DELHI, March 22 (PTI) — Radico Khaitan Limited (RKL)), the flagship of the Lalit Khaitan group has embarked upon an ambitious plan to enhance the capacity of its Rampur Distillery in Uttar Pradesh and foray into CIS countries, a top company official said. “RKL is seriously
considering setting up a liquor manufacturing base in one
of the CIS countries in which we would like to have a
controlling stake. Talks are on for setting up a company
in joint venture with the government,” Indu B. Lal,
President RKL told newspersons today. |
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NEW DELHI, March 22 (PTI)
— The US networking major 3 Com will set up a
wholly-owned subsidiary within the next two months and
make India a logistics hub for its operations in the
neighbouring countries, bringing in substantial
investment. Plans are on the anvil to forge joint
ventures with Indian software firms to make India a
development hub as well for the company’s global
operations. |
China prepares for WTO entry BEIJING (PTI): Chinese premier Zhu Rongji is finalising a “basket of concessions”, mostly on trade, that he will present on his US tour next month to facilitate China’s entry into the World Trade Organisation (WTO). Beijing is convinced that a “win-win” situation can emerge during Zhu’s maiden official visit to Washington in April at US President Bill Clinton’s invitation. Zhu favours a conciliatory approach that was evident in his annual press conference here on Monday where he strongly denied the theft of US nuclear weapons technology within abilities. Media reports have quoted Zhu as saying in an internal meeting that, so far as Sino-US bilateral relations are concerned, “the ball is in the US court”. “If the USA wants to break up the Sino-US relationship of partnership. We can’t do much to repair it,” he reportedly said. “However, if the USA wants to improve ties, we of course will not erect any obstacles.” Unemployment BEIJING (PTI) : Hong Kong’s unemployment has risen to 6 per cent, the highest level in 25 years despite claims that the economy is showing signs of early recovery from the Asian financial turmoil. According to latest figures, in the three months to February, the jobless rate has risen 0.2 per cent to 6 per cent from the rate in the three months to January. The number of people out of work rose by 3,300 to 206,000, while the rate of under-employment dropped 0.1 per cent to 3 per cent. Job losses in the construction and restaurant sectors, were the main reason for the increase. Secretary for Education and Manpower Joseph Wong Wing-Ping said that while labour market conditions remained soft, there were indications that local economic sentiment had improved, particularly after the budget. Proposals announced in the budget would create 32,000 jobs in the local labour market in the near-to-long term. These new jobs, mainly from the cyberport project, would be on top of the 122,000 new posts to be generated by major infrastructure and public works projects over the next two years. General Chamber of Commerce Chief Economist Ian Perkin said the modest financial stimulus contained in the budget may help moderate unemployment growth but would not have a significant impact. Nokia eyes India SINGAPORE (PTI) : Global mobile phone manufacturer Nokia will invest in India for technology development for providing various regional languages on cellular phone. “We are working on various technology developments in India for providing regional languages in cellular phones by downloading these languages from various computer softwares,” Nokia Mobile Phones, Senior Vice-President (Asia-Pacific) Nigel Litchfield told PTI in an interview here. India is a complex country in terms of languages and to increase the penetration of mobile phones Nokia would be investing in technology to provide various languages in its phones. However, Litchfield
declined to disclose the investment figures Nokia would
be making in the country. “We have a policy not to
disclose the investment figure” he said.
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| Forex rates MUMBAI, March 22 (PTI) — The following were interbank forex and RBI rates (in rupees per unit): US $ Rs 42.39/40 The RBI reference rate was Rs 42.39. Bicycles Credit card |
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