GoM formed to finalise merger of A-I and Indian
New Delhi: The proposed merger of the two national carriers, Air India and Indian moved ahead another step with civil aviation minister Praful Patel announcing the formation of a group of ministers (GOM) to finalise the merger.

Interestingly, the minister took advantage of the occasion to issue a warning to the employees of the two organisations asking them to improve their performance.

"I am personally not very happy with the way the two carriers are performing... Government support can be only up to a point. Beyond this the airlines will have to retain their standards of performance," Patel told a news conference on Thursday.

The GOM will be chaired by finance minister P Chidambaram and have law minister HR Bharadwaj, planning commission deputy chairperson Montek Singh Ahluwalia and Patel himself as members.

The minister also stated categorically that there would be no retrenchment of employees.
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Left demands amendment of SEZ Act
New Delhi: The Left parties released a note on Special Economic Zones (SEZ), which criticises the present form of the SEZ Act and says that several amendments to the Act were needed to prevent it from becoming a "speculative real estate bubble instead of building industrial infrastructure."

The note says that SEZs should be built on non-agricultural land and that the acquisition of agricultural land should be discouraged. "A provision limiting the acquisition of agricultural land should be built into the SEZ Act itself," the note suggests. The note also asks for a 'national rehabilitation policy' for displaced farmers be put into place on an urgent basis.

The note, evolved by the four Left parties, CPI (M), CPI, RSP and Forward Bloc was submitted to the UPA formation on Thursday.

The note has also expressed its apprehension about SEZs causing regional imbalances. The note mentions that if "… several large SEZs developed by private entities are allowed to come up in a few states, while many states do not receive any proposal from private developers, this will aggravate regional imbalances."
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Assocham seeks extension of deadline for filing returns
New Delhi: The Associated Chambers of Commerce and Industry of India (Assocham) has urged the finance minister to extend the due date for filing of income-tax returns till December as against October 31.

In a representation to the finance minister, P. Chidambaram, the chamber has sought extension of two months in view of difficulties being faced by the taxpayers in getting their accounts audited under the provision of Section 44AB of the Act and submission of return as per the new procedure and technique notified on July 24.

The chamber has so far received over 100 representations from all over the country stressing the need for extending the date by at least two months.

The chamber has pointed out that Form 3CD has been amended by a notification dated August 10, 2006, which seeks additional information in respect of various items. The tax auditors accordingly are asking for a number of details and information, which have not been compiled so far by the taxpayers.
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Export thrust in farm products to empower farmers: Kamal Nath
New Delhi: Kamal Nath, union minister of commerce and industry, has said that the export thrust in various agricultural products is designed to improve the standard of living of the farmer. Delivering the valedictory address at the Agriculture Summit 2006 on Thursday, he said, "We in the Ministry are working towards unshackling controls and creating an atmosphere of trust and transparency. Our export of agro and allied products including plantations are of the order of Rs3,600 crore."

Export of these products, he said, witnessed an annual growth of 12.22 per cent in the first four years of the Tenth Five Year Plan. During 2005-06, the export of these products accounted for nine per cent of the total exports from the country.

"We are working on the rejuvenation of our plantations - tobacco, rubber, spices, tea and coffee. We have recently set up a very ambitious special purpose tea fund to completely revamp the sector. We are working on a similar project for coffee.," the minister said.
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