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STD rates to fall below Re.1 under India One
New Delhi: STD calls to any part of the country could be priced at a flat rate of less than Re 1 per minute with the introduction of the India One tariff from January 1, 2006.

Based on the draft New Telecom Policy, the Department of Telecom (DoT) is considering a single uniform rate based on the weighted average cost involved in carriage of telephone calls. Currently, the maximum STD rate is Rs2.80 per minute, which comprises the carriage cost and the Access Deficit Charge (ADC).

The carriage cost varies between 20 paise and Rs1.10 per minute depending on the distance of the call. The carriage charge is the amount paid to the long distance carrier by the cellular and fixed telephone operator.

According to the DoT's draft New Telecom Policy, the India One tariff concept would apply to STD calls to anywhere in India.

Telecom service providers, however, said the Government must address issues such as ADC (which private telecom companies pay to state-owned BSNL) and lowering the carriage charge further before introducing India One tariffs.
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India's Oct crude oil output falls to 2.68mn tonne
New Delhi: Crude oil output in India fell by 7.2 percent to 2.68 million tonne, or about 630,000 bpd, in October 2005, compared to the same month last year, the oil ministry said on Tuesday.

Refineries in India processed 10.44 million tonne, or about 2.48 million bpd of crude, which was 2.5 percent below the level a year ago, and the lowest level since May this year.
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Cement output rises 7.42 per cent in Oct.
New Delhi: Cement production was up by 7.42 per cent to 11.72 million tonne in October, 2005, from 10.91 million tonne in the corresponding period a year, according to estimates by the Cement Manufacturers' Association in its latest monthly updates.

Cement despatches grew by 7.99 per cent to 11.62 million tonne from 10.76 million tonne during the review period. Exports of cement showed a growth of 51.35 per cent to 0.56 million tonne last month from 0.37 million tonne a-year ago month, whereas clinker export declined by 52.27 per cent to 0.21 million tonne from 0.44 per cent during the monthly review period.

At the end of October, installed capacity of the cement industry (large plant) reached 156.26 million tonne. Interestingly, industry capacity at the beginning of the year 2005-06 stood at 153.85 million tonne.

The all India growth rate in cement production during the period April-October 2005-06 stood at an impressive 10 per cent with the southern region recording the highest production growth at 16 per cent. The northern region followed at seven per cent while both central and western region recorded a growth of seven per cent each said the apex industry body.

In the state-wise category, Andhra Pradesh registered the highest output growth at 25 per cent during the first seven-month review period, followed by Uttar Pradesh at 21 per cent. Both Punjab and Gujarat clocked a 16 per cent growth.
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Rs.300 crore mega IT complex to come up in Pune
Pune: A Rs300-crore state-of-the-art software development complex with a capacity for 18,000 IT engineers is coming up on 12.14 hectare (ha) land at phase-III of the Hinjewadi IT park in Pune. The park will soon be converted into an integrated facility with 300 residential apartments and 100 row houses on a one-million sq ft space.

Once completed, it will stake claim for being the first integrated software development-cum-residential complex of its kind in the city.

This follows on the heels on Maharashtra chief minister Vilasrao Deshmukh entering into a memorandum of understanding (MoU) with Pune-based telecom software providers Mahindra British Telecom (MBT), which is raising the complex by end-December, 2006.

The complex will be known as the 'MBT technology Center West'.
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HC issues stay order on electronic meters
New Delhi: The Delhi High Court on Tuesday has put a stay order on the State Consumer Disputes Redressal Commission and has restrained power distribution companies in New Delhi from raising bills on the basis of new electronic metres.

The stay order was passed on petitions filed by power distribution companies, which challenged the order of the Redressal Commission.

The court advised the media to exercise self-restraint and asked them not to report the issue in a manner which could prejudice the minds of the readers.
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Pension fund board defers rate decision
New Delhi: The board of trustees of the state-run Employees' Provident Fund has postponed taking a decision on the interest rate to offer investors during the business year to March 2006, a union leader said on Monday.

The trustees will meet again on December 7 WR Varadarajan, secretary, Centre for Indian Trade Unions.

In June, the government had raised the interest rate of the Employees Provident Fund (EPF) to 9.5 per cent for 2002/03 and 2003/04 following demands from its communist coalition partners.

The fund has nearly 85 per cent of its nearly Rs1.28 trillion corpus invested in the Special Deposit Scheme (SDS) run by State Bank of India, which offers 8 per cent annual interest.
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Japan to make big investments in India
New Delhi: Japan has said it would invest US$1.4bn in India in the next three years. Seven business delegations from the country would be visiting India in three months.

India is now behind China as the most favored destination for Japanese investors, Japanese ambassador Yasukini Enoki said at a press conference in Delhi.

Also trade between India and Japan currently at US$5bn, is set to rise, with the two countries agreeing to halve the 20 per cent tax levied on services under a new treaty, he said.

Japan's US$1.4bn investment is in 19 projects that have been approved. Another eight projects are under consideration and if they are approved, then Japanese FDI from now to 2007 will exceed US$1.5bn. The bulk of the approved investments - US$1.1bn - will be in the automotive sector with Maruti Udyog claiming the lion's share of US$693mn, followed by Honda Motorcycle and Scooter and Hero Honda Motors.
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