Doing business in India not easy : IFC survey
New Delhi: An International Finance Corporation survey finds India still lagging behind its neighbours like Pakistan, Sri Lanka, Nepal and Bangladesh in terms of the ease of doing business, though the country has marginally improved its ranking on the list to 134 for 2006, from 138 in 2005.

Among eight south Asian countries, India has the dubious distinction of ranking sixth in the category of "ease of doing business" with only Bhutan and Afghanistan occupying the remaining positions behind it, according to the report.

The IFC report on 'Doing Business, 2007' said that India was the top reformer in South Asia. It however languishes 41 places behind China-which is reforming at a faster pace than India.

"India, as leading reformer in South Asia, has taken over the top spot from Pakistan in last year's report. India cut the time to start a business from 71 to 25 days and reduced the corporate income tax rate from 36.59 per cent to 33.66 per cent. A Supreme Court decision made enforcing collateral simpler-easing access to credit. New risk management procedures in customs lowered import time by two days and exports by nine days. And reforms to stock exchange rules toughened investor protections," the report said.

However, the challenges of starting a business in India are far many with entrepreneurs expected to go through 11 steps over 35 days on an average to launch a business at a cost equal to 73.7 per cent of gross per capita income, it said.

Similarly, it takes 270 steps and 20 days to complete the process of complying with licensing and permit requirements for ongoing operations in India, according to the report.

On ten parameters, India is ranked at 88th position when it comes to starting a business, 155th in terms of dealing with license, 112th on the parameters of employing workers, 10th on the indicator of registering property, 65th in getting credit, 33rd in protecting investors, 158th in paying taxes, 139th in trading across borders, 173rd in enforcing contracts and 133rd in closing a business.
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Faulty regulator caused GSLV failure: ISRO panel
Bangalore: A Failure Analysis Committee appointed by the Indian Space Research Organisation to probe into the July 10 crash of the prestigious GSLV rocket launcher has concluded that a defective regulator in one of the four strap-on engines brought down its GSLV launcher on July 10.

The panel however ruled that the manufacturing defect was "inadvertent" and escaped the best and established inspection procedures of the space agency, leading to inadequate thrust.

The loss of the Insat-4C satellite, along with the launcher, not only caused a loss of over Rs250 crore to the agency, but was also a setback for the GSLV rocket programme, as it was on its maiden flight.

Department of Space secretary, and ISRO chairman, G. Madhavan Nair released some key aspects of the report prepared by a 15-member review committee at a news conference in the city.

The 15-member Failure Analysis Committee concluded that there was no flaw in the launch vehicle or its sub-system design. "The GSLV programme is not derailed," said Nair. As a result of the committees findings the next lot of hardware will come under greater scrutiny, especially with a PSLV flight due in October.
The organisation has also set the next GSLV launch for June 2007.
The FAC, which was chaired by K. Narayana, former Director of the SHAR center, had constituted eight sub-committees to pore over the flight data and manufacturing documents. Through the Department of Ocean Development, two strap-on boosters were also recovered from sea. The regulator in the malfunctioning S4 had a bore of 17 mm diameter instead of the regulated 16 mm, and it allowed far higher flow than the system was designed for.
Nair said ISRO would temporarily lease capacity on a foreign satellite to accommodate the prime user of Insat-4C, the satellite lost on the GSLV in July. It would do this once Sun TV put up its ground system and signalled its readiness.

Sun TV had booked seven of the 12 transponders on 4C to launch its DTH plans.

Meanwhile, it is building INSAT-4CR as a substitute to the lost 4C. It is converting one of its Gsats under assembly into a 12-transponder 4CR. The satellite will be launched from Sriharikota in June 2007.
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DA, basic of PSU employees to be merged!
New Delhi: According to a proposal by put forward by the government the dearness allowance paid to public sector employees may be merged with their basic salary. The proposal. Mooted by the Department of Public Enterprises, will however have to wait till the appointment of a committee to review pay scales.

According official sources, a note has been prepared for consideration of the Union Cabinet, which is likely to discuss the issue next week. The same sources suggested that the merger of DA with basic salary would however be implemented only in those PSUs which have the capacity to pay the enhanced amount as the Centre was unlikely to provide any additional funds for the purpose.

The government action comes in the backdrop of decision by employees of some of the biggest PSUs such as NTPC Ltd, Steel Authority of India Ltd, Coal India Ltd and National Hydroelectric Power Corporation to go on strike on September 12 if their demands, which includes DA merger, were not met.
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