Spectrum allocation: new policy to plug loopholes
New Delhi: The Department of Telecom (DoT), in a presentation to the telecom ministry, has admitted that there was lack of planning while allocating spectrum to telecom service providers in the past. This comes as the telecom industry is facing an acute shortage of radio frequency across the country, and the government cannot find enough spectrum for fresh allocation.

Senior DoT officials said over a period of time company's were allocated spectrum in different bands, depending on the need of the situation, as it was not realised that spectrum would be required urgently very soon.

The DoT is working on a fresh spectrum policy, aimed at allocating frequency bands to a particular type of user in one place.
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Assocham tells govt. to cut wasteful subsidies
New Delhi: As next year's budget comes closer, industry chamber Assocham has asked the government to raise the tax-GDP ratio to over 15 per cent and trim wasteful spendings in subsidies to improve the financial situation.

While releasing 'Reforming Management of India's expenditure' Assocham president Anil K Agarwal said that a higher GDP ratio of 15 per cent was necessary given the country's current public finance crisis as the combined fiscal deficit of the central and state governments adds up to 9.4 per cent of GDP.

The study, jointly brought out by the Economic Management Institute, also urged the government to plug distortions and leakages in expenditures.

Out of the total budgeted expenditure of Rs5,14,344 crore for 2005-06, the chamber said about 12 per cent goes waste in terms of subsidies for food, fertiliser and petroleum products.
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Bihar govt. offers stamp duty exemption on agricultural loans
Patna: To improve the credit-deposit ratio in Bihar and give a boost to agriculture, the Bihar state government has decided to provide stamp duty exemption on agricultural loan of up to Rs3 lakh and simplify the process of issuing land possession certificate and amend several laws.

Bihar Deputy chief minister Sushil Kumar Modi said that the government was contemplating amending several rules to create an atmosphere conducive for improvement of CD ratio in Bihar, which is now hovering around 31 per cent.

Earlier the stamp duty was levied on agricultural loans above Rs15,000. Now the government has decided to exempt the farmers taking agricultural loan up to Rs3 lakh, from stamp duty.
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DFID may raise grants to WB
Kolkata: West Bengal, currently getting aid from the British aid agency, Department for International Development (DFID), to the tune of £35mn (about Rs270 crore) on an annual basis, may now receive more funds by way of grants from the same organization.

West Bengal chief minister Buddhadev Bhattacharjee, after reviewing its ongoing projects with DFID permanent secretary Suma Chakraborty, said the agency was "happy with the way the projects are going on. West Bengal is changing."
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CBEC to intervene in disputes over branded jewellery
New Delhi: The finance ministry will now intervene in cases where a jeweller contests that the jewellery sold by him is not branded and cannot be subjected to excise duty. To avoid harassment to the jewellery trade, the Central Board of Excise and Customs (CBEC) has asked its excise field formations to refer such cases to the Board.

The Union Budget for 2005-06 levied a 2 per cent excise duty on branded jewellery, the determination of whether the jewellery is branded or not has revenue implications for the Government.

The finance ministry has also said that no precipitate action should be taken to charge excise duty on such jewellery till such time as the Board decides the matter.
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