ICMR to set up animal resource facilities
Hyderabad: The Indian Council of Medical Research (ICMR) is setting up a Primate Research Centre at Mumbai on 25 acres of land, with an investment of Rs75 crore and also proposes to set up a Rs200-crore National Animal Resource Facility (NARF) in Hyderabad.

The NARF will be an ICMR initiative but predominantly supported by drug companies and research institutes. The Andhra Pradesh Government has already allocated 100 acres of land for the purpose at the Biotech Park in the Genome Valley.
The Primate Research facility project in Mumbai is expected to be ready in two years.
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Implementation of major projects — North-east power corpn to raise Rs 2,500 cr
Kolkata: The North Eastern Electric Power Corporation Ltd (NEEPCO) proposes to raise at least Rs 2,500 crore from the market for three large projects covering various states in the North-East region. The separate projects will generate 1,500-MW and 600-MW of power.

The company, which currently has an installed capacity of 1,130 MW, accounts for half of the installed capacity in the region.
Meanwhile a consortium of 13 banks, led by the Punjab National Bank has committed a structured term loan aggregating Rs800 crore to NEEPCO. The consortium includes the Bank of Baroda, Canara Bank, UCO Bank and United Bank of India.Structured by SBI Capital Markets, the 10-year loan comes to NEEPCO at 6.33 per cent interest. This will enable NEEPCO to reduce the cost of its funds.
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McKinsey: China, India and Pakistan will be winners
Chennai: According to a McKinsey study, commissioned by DHL, India could be the big winner after China, with the multi fibre agreement (MFA) and the quota restrictions coming to an end in December 2004.

According to the DHL-McKinsey Apparel and Textile Trade Report, the value of the global textile and apparel industry is likely to go up to $248 billion by 2008 with China, India and Pakistan expected to be the ``clear winners''. The report forecasts that India has the potential to increase its share from the current 4 per cent to 6.5 per cent valued at $ 16 billion by 2008. The report suggests that key reforms are still required if India is to capitalise on the emerging opportunities.
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ICMR web site to link 25 institutes
Hyderabad: The Indian Council of Medical Research (ICMR) proposes to e-link all its research institutes and create Web sites with an investment of Rs 3.5 crore. The e-link project would connect over 25 ICMR institutes like the National Institute of Nutrition, Hyderabad; Tuberculosis Research Centre, Chennai; National Institute of Virology, Pune; Institute of Reproductive Research, Mumbai; Malaria Research Centre, New Delhi, and the National Institute of Occupational Health, Ahmedabad.

Data about various health and nutrition issues would be made accessible to the people through the Web sites.The ICMR Chief has launched the Web site of the National Institute of Nutrition — www.ninindia.org, designed and developed by Inteq Software Ltd, this Wednesday.
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Paper format returns to be replaced with e-TDS
New Delhi: The Central Board of Direct Taxes (CBDT) has clarified that any tax deduction at source (TDS) return filed by India Inc after June 1, 2003 on a paper format will not be in conformity with the legal provisions. An official release said that this clarification is being made as it has been brought to the notice of the CBDT that some corporate deductors have filed their TDS returns on paper format after June 1, 2003.

The Finance Act, 2003 amended section 206(iii) of the Income Tax Act, 1961, with effect from June 1, 2003, making it mandatory for corporate deductors to file their TDS returns on computer media. The Board has also clarified that from July 31, 2003 onwards, all TDS returns have to be filed only in new forms i.e., Form No 24, 26 and 27. A TDS return filed by a deductor in old TDS return form after this date will not be in conformity with law.
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