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Kashmir issue: Musharraf talks of making borders irrelevant
Islamabad: Pakistan President General Musharraf has spelt out a roadmap to what he sees as a solution to the Kashmir dispute. "The solution to the Kashmir dispute lies in making borders irrelevant and creating an area that is demilitarised with maximum self-governance," he said while addressing a gathering of parliamentarians and journalists from SAARC countries in Islamabad.

Musharraf also set a time frame for a solution to the longstanding issue. He said history offered only "fleeting moments" to resolve complex issues like Kashmir. The prevailing international atmosphere as well as improved relations between the two countries offered "ideal opportunity" for him and Prime Minister Manmohan Singh to resolve it, he added.

"A solution must be found within the tenure of Manmohan and myself. I am in complete harmony and understanding with the Prime Minister," he said.
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Inflation falls a tad on dip in food prices
New Delhi: The annual wholesale price index-based inflation eased marginally by 0.06 per cent to 5.61 per cent during the week ended May 7, from the previous week's level of 5.67 per cent. The dip in the year-on-year inflation was mainly due to a fall in prices of food and manufactured products, according to data released here today by the Ministry of Commerce and Industry.

During the latest reported week, the WPI fell by 0.1 per cent to 192 points due to drop in the index of primary articles and manufactured products, even as fuel prices remained unchanged. The index stood at 181.8 points a year ago.

On a disaggregated basis, the index of Primary Articles' group was down 0.1 per cent to 188.4 points due to fall in the prices of food and non-food articles. The Fuel, Power, Light and Lubricants' group index remained firm for the second consecutive week at 293.2 points, while the index of Manufactured Products' group declined by 0.1 per cent to 170.6 points due to lower prices for food items, chemicals and non-metallic minerals.

In the case of Primary Articles', the Food Articles' group index was down 0.1 per cent to 190.2 points due to one per cent fall each in the case of barley, condiments and spices, maize, jowar and bajra. Prices, however, rose for fish-marine (two per cent) and masur, ragi, gram and urad (one per cent each).

Among the Manufactured Products, the Food Products' group index fell by 0.5 per cent to 173.8 points due to cheaper oil cakes (three per cent), butter (two per cent) and maida, sooji, atta and bran (one per cent each), but rice bran oil, gur and rape and mustard oil became costlier by one per cent each.

The Government also revised upwards inflation to 5.40 per cent during the week ended March 12, as compared to the provisional estimate of 5.23 per cent. The WPI stood corrected at 189.4 points during the second week of March against provisional level of 189.1 points.
Back to News Review index page   Assocham survey: India Inc. rates UPA performance at 65 per cent
New Delhi: India Inc has given the UPA Government a 65 per cent score, a shade better than the Prime Minister, Dr Manmohan Singh's own assessment of 60 per cent on completion of one year in office, according to a survey by the Associated Chambers of Commerce and Industry (Assocham).

The Assocham Business Barometer (ABB) Survey of 250 top CEOs and CMDs said the UPA Government has done reasonably well in the areas of financial sector reforms, capital market buoyancy, industrial growth and external sector. However, it was found lacking in terms of disinvestments, labour reforms and infrastructure development.

Of the 250 top CEOs and CMDs surveyed, 188 rated the UPA Government as `good' in terms of its performance in the financial sector, pushing industrial growth, promotion of foreign direct investment, and keeping stable interest rates despite inflationary pressures, it said. The CEOs ranked Dr Manmohan Singh's Government as `good' in seven out of 12 parameters, giving it 65 out of 100, it added.

The parameters on which the country's industry leaders were asked to give their comments were: boost to agricultural growth, pushing industrial performance, labour reforms, infrastructure development, power sector reforms, financial sector reforms, attracting foreign direct investment, tackling inflation and rising energy prices, interest rate stance, disinvestments, capital market and export promotion.
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DGST designated authority for service tax registration
New Delhi: The Finance Ministry has specified that the Director-General Service Tax (DGST) would be the authority for granting centralised registration to service tax assesses having operations in multiple central excise jurisdictions.

This new norm would be applicable for registrations sought on or after April 1, 2005. The Finance Ministry's move to specify the DGST as the authority under Rule 4(3)(b) of the Service Tax Rules 1994 may come as a relief for many assesses looking for centralised registration.
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