DUTY CUTS: JINGLE TIME FOR TELECOM EQUIPMENT MAKERS

Article Abstract:

The import duty on components needed to manufacture telecom equipment has been reduced by 10 percent. This will benefit the indigenous manufacturing of telecom equipment. The government has also imposed a 16 percent countervailing duty on the import of finished telecom equipment for infrastructure projects. The import duty on integrated circuits has been brought down to 5 percent while duty on imports of diodes, transistors and other semiconductor components has been brought down to 15 percent from 20 percent. (khr)

Communications Equipment, Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications systems

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CORE STATUS FOR INLAND WATERWAYS

Article Abstract:

The Union Budget has bestowed infrastructure status to the three inland national waterways and inland port terminals effective April 1, 1999. Tax holidays for a five year period, a deduction of 30 percent of profits for the next five years are announced in the Budget for 1998-99. The operators of the waterways and terminals can avail benefits under 80(1) A of the Income Tax Act. This is likely to increase investments in the sector. (rk)

Comment:

India: Waterways & inland pors will get tax holidays for 5 yrs & cut of 30% of profits for the next 5 yrs in 1998-99 budget

Article

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VARUN SHIPPING NCD

Article Abstract:

Varun Shipping Ltd's (VSL) Rs25 crore non-convertible debenture (NCD) programme has been downgraded by Investment Information and Credit Rating Agency (ICRA) to LBBB. VSL's NCD programme had earlier received LA- rating from ICRA. The new rating indicates moderate safety about its NCD programme. (gs)(m)

Product standards, safety, & recalls, Securities issued, listed, WATER TRANSPORTATION, Varun Shipping Ltd.

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