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Gems, jewellery ind for lower lending rates, import duty cuts
The gem and jewellery industry has sought enhanced dollar liquidity, lower lending rates, a 2-year tax holiday and turnover tax and import duty reductions as part of budgetary relief, a top industry official said.

People stop Tata steel plant 'spoilers' in track
Supporters of Tata Steel in Bastar acted as a shield to prevent Communist Party of India (CPI) leaders and environment experts to visit the project affected villages and meet the people. The CPI leaders along with environment experts from Hyderabad and New Delhi had yesterday organised a public hearing on party"s banner in Badanji village. It is one of the ten villages to be affected by the 5.5 million tonnes per annum (MTpA) Tata Steel plant coming up in Lohandiguda area.

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MP to push demand for GST postponement
The Madhya Pradesh government will tomorrow press for its demand to postpone proposed goods and service tax from April next year, as it has estimated that losses to all the states will be in tune with Rs 80000 crore before the committee on GST in New Delhi. “The Centre is putting important issues like health and education at stake if implementing GST, as revenues losses to the states would be much higher than calculated,” AP Shrivastava, principal secretary commercial tax department said, “The proposed GST is not different from VAT however the Centre has wrongly calculated tax-base and revenue losses at Rs 21.66 lakh crore (as per Tax Research Unit of Department of Revenue Government of India) and Rs 35,000 crore.” The state finance minister will demand that this is not an opportune time to implement GST and the Centre should give some time for VAT to settle down.
Small Business

Era Infra Q3 profit surges 85% to Rs 57 cr

Era Infra Engineering today posted a jump of over 85 per cent in net profit at Rs 57.24 crore for the third quarter ended December 31, 2009. - Godrej Industries Q3 net up eight times at Rs 44 cr - Hero Honda Q3 net soars 78% on strong sales - SBI Q3 net down 8.4% to Rs 3,305 cr - Lloyds Steel Q3 turns profitable - Jet back in black with Rs 106 cr profit in Q3 - Monsanto India Q3 net rises 19% to Rs 15 cr The Delhi-based company"s revenues also grew to Rs 896.18 crore during the October-December quarter of current financial year from Rs 592.18 crore in the same quarter last fiscal, Era Infra said in a statement. "We are connected with various projects of Commonwealth Games in Delhi and this helped us in positive way," Era Infra Chairman and Managing Director H S Bharana told PTI. For the nine months ended Dec 31, 2009, Era Infra posted net profit of Rs 217.21 crore, up 128.78 per cent as against Rs 94.94 crore in the same period last financial year. "We expect good earnings in the last quarter of the current fiscal," Bharana added. On the Bombay Stock Exchange, shares of Era Infra today closed at Rs 203.05, down 0.44 per cent.


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