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BSA Motors seeks road tax waiver from Gujarat government
In its hope to see electric two-wheeler sales rising in Gujarat, Chennai-based BSA Motors, a business unit of Tube Investments of India (TII), part of the Rs 15,646 crore Murugappa Group, has submitted a memorandum with the state government seeking eight per cent waiver in road tax, reduction in VAT as well as provision of subsidy for the products. Once implemented, BSA Motors hopes to achieve 15 per cent of its total sales target from Gujarat.

Farm growth could be down 5%, says Godrej
India’s agriculture growth could be down by 5 per cent due to deficient monsoon, a top corporate leader said today.

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Union Budget likely on Feb 26
The Union budget for 2010-11 is likely to be presented on February 26, two days ahead of the conventional date.
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Posco signs pact with OPTCL to draw power

After receiving Stage –II clearance from the Ministry of Environment and Forest (MoEF) for its 12 million tonne steel plant in Orissa, Posco-India has initiated various activities including infrastructure development to expedite the project work. - Posco-India signs pact with OPTCL to avail power - No tribals in project area: Posco - Environment panel to look into green nod for power projects - RPDAC meet soon to finalise Posco package - Scrap traders seek changes in tax duty structure - Gopalpur port expansion hits green hurdle As a part of this process, the company has signed an agreement with Orissa Power Transmission Company Ltd (OPTCL) to receive 24 MW power. This bilateral agreement, supposed to have been signed with OPTCL in 2007, was delayed because of problems surrounding the project. The power will be utilized by Posco-India for its construction activities at the plant site near Paradip. After making detail design and getting approval from OPTCL, the company will commence the tower construction work to draw this power and the power supply will be operational from March 2012, a company release said. Meanwhile, CPI today threatened to unite all sections of the people and intensify their stir against Posco steel project. The district unit of CPI, Jagatsinghpur , today held demonstrations and mass rally in front of collectorate to protest against the project. CPI leaders strongly criticized the agriculture minister Damodar Rout for initiating Posco project and ridiculed chief minister Naveen Pattnaik’s understanding of agriculture, betel vine cultivation and livelihood of farmers of this area. They criticized Pattnaik for selling fertile land and minerals to the South Korean company at through-away price. They condemned administration and police officials for deployment police forces in proposed site. However, a section of the district CPI leaders including local MP Bibhuprasad Tarai were conspicuous by their absence at the meeting and some of them have even expressed their support in favour of Posco project.


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