Five new Narsee Monjee B-schools to come up in Mumbai
Mumbai: The Narsee Monjee Institute of Management and Higher Studies (NMIMS) plans to start five new business schools in Mumbai. The new B-schools which include faculties of business management, technology management and engineering, pharmacy and management, family business, and a school for distance learning in management, are expected to start by July this year.

The vice chancellor NMIMS, N M Kondap said, "NMIMS is planning to establish itself as a university and schools are a move towards attaining that status. The schools would be under NMIMS management but will function distinctly."

The schools will be located at the NMIMS' Vile Parle campus. NMIMS is also planning to add on to the existing infrastructure and upgrade it in terms of classroom and technology.

The existing two-year management programmes of the institute will continue under the School of Business Management but the current programme of family business will be taken over by the new School of Family Business. NMIMS attained its deemed university status three years ago and has also attained a grade A accreditation certificate from National assessment and accreditation Council (NAAC).
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Government likely to meet revised estimates for indirect taxes
New Delhi: The Government is likely to achieve the revised estimate targets of indirect tax collections for 2005-06, at Rs1,99,215 crore, which is Rs7,000 crore more than the Budget estimate.
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Assocham wants early modernization of airports
New Delhi: Industry chamber Assocham wants the government to notify all greenfield airport construction and modernisation of Delhi and Mumbai airports under the Centre's Project Import Scheme in order to ensure their timely implementation.

Assocham president Anil K Agarwal said the Finance Ministry should immediately notify greenfield airport projects and modernisation of Delhi-Mumbai airport project under project import scheme on the lines of Cochin airport so their execution takes off a little time with relaxed customs duty, he said. The modernisation of Delhi and Mumbai airport project under this scheme would give a boost to those projects and would attract large number of private participation which in turn would encourage competition and facilitate their modernisation drive, he added.

The scheme provides relaxation in customs duty structure on imported equipments used for putting up greenfield projects and their modernisation and ensures their timely implementation, he said.
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Indian economy to grow eight per cent up to 2008
New Delhi: A UN report said on Thursday that India should be able to sustain GDP growth rate of 8 per cent over the 2006-08 period supported by a growth of 2.5-3.0 per cent in agriculture, 8 per cent in industry and 8.5 per cent in services.
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Karnataka cuts VAT on cashew
Mangalore: The Karnataka Government has cut value-added tax (VAT) on cashew kernels from 12.5 per cent to 4 per cent.

K. Prakash Rao, president of the Karnataka Cashew Manufacturers' Association (KCMA), said, "This relief will go a long way in boosting cashew consumption in our State. This reduction of tax will increase revenues from the industries to the exchequer," Rao said.

A press release from the government said the move had brought the industry in Karnataka on par with neighbouring cashew-processing states like Goa and Maharashtra.

Rao said the industry was having difficulty marketing its crop produce within the state owing to the 12.5 per cent VAT.
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