New petroleum price mechanism by June 15
New Delhi: The Government is expected to announce a package of measures on June 15, which will include a new pricing mechanism for petrol, diesel, LPG and kerosene, besides the lowering of duties and enhancement of subsidy allocation for LPG and kerosene. Mani Shankar Aiyar, the Petroleum Minister, and P. Chidambaram, Finance Minister, will meet the Prime Minister, Dr Manmohan Singh, on June 11 to finalise the details and modalities of the proposed package.
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Net direct tax collections shoot up in April-May
New Delhi: Aided by a 45.23 per cent jump in personal income tax collections, net direct tax collections during April-May 2004 touched Rs 1,661 crore as against collection level of Rs 63 crore recorded in the same period during the previous year. Gross direct tax collections in the first two months of the current fiscal increased by 14.92 per cent to Rs 11,423 crore as against Rs 9.941 crore.

The refund payout during April-May 2004 was lower at Rs 9,762 crore as against refund of Rs 9,878 crore in the same period during previous year. Personal income-tax collection during April-May 2004 touched Rs 5442.92 crore, reflecting a 45.23 per cent increase over Rs 3,747.75 crore recorded in April-May 2003. The Central Government has budgeted direct tax collections of Rs 1,26,000 crore during 2004-05.
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Thai Minister emphasises need for FTA
New Delhi: The Foreign Minister of Thailand, Dr Surakiart Sathirathai, has expressed the hope that the free trade agreement (FTA) between India and Thailand would become effective at an early date and provide a platform for growth in business opportunities in both the countries. Dr Sathirathai wanted the Indian industry to view the FTA with Thailand as an opportunity for Indian industry for Thailand was all set to enter into FTAs with China, Japan and Australia, and was already into negotiations with the US.
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West Bengal: Reform or Perish
Kolkata: The Chief Minister of West Bengal, Buddhadeb Bhattacharjee, emphatically stated that the days of militant trade unionism in West Bengal were over and that no form of "hooliganism" would be tolerated. Speaking at a function held here under the aegis of the Consular Corps of Kolkata, Bhattacharjee said it was a case of "reform or you perish".

However, the West Bengal Government was keen to facilitate economic reforms "with a human face" and where the interests of the workers and farmers were protected and jobs are created.
In this context, he mentioned the restructuring of 56 identified State-owned enterprises in a phased manner. Bhattacharjee urged the foreign companies to invest in West Bengal and said the State had no hidden agenda.
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