Sikkim seeks relaxation of permit norms for tourists
Gangtok 7 Nov 2008 (PTI): In order to make Sikkim, a tourist-friendly state, the state government on Friday urged the Centre to relax the formalities with regard to the permit for the visiting tourists from across the country and abroad.
Chief Minister Pawan Kumar Chamling put up the state government's request for relaxation in the permit-related formalities for the tourists at a meeting with the Union Cabinet Secretary K M Chandrasekhar.
Domestic are required to seek permit of the defence authorities for visit to places like Nathu La, Chhangu Lake and most parts of north Sikkim due to the security-related restrictions imposed there.
The foreign tourists are also required to take the mandatory inner-line permit for visiting the Himalayan state.
Chamling had earlier this year urged the army authorities relax restrictions imposed in several protected regions in Sikkim in order to attract tourists and also for construction of tourism-related infrastructure.
Saturday, November 8, 2008
RAIL LINK TO SIKKIM
RAIL LINK TO SIKKIM
GANGTOK, November 06: In a pre New Year’s gift for Sikkim, the Centre today formally approved a rail link for this landlocked Himalayan State connecting it with the rest of the nation.
A press release from PIB informs that the Union Cabinet Committee on Economic Affairs today gave its approval for taking up construction of new 52.7 km long broad gauge line from Sevoke in Siliguri of West Bengal to Rangpo in Sikkim.
The project will provide much-needed rail connectivity to Sikkim, a demand persistently followed by the Chief Minster Pawan Chamling
This rail link approval comes close on the heels of the Union Cabinet on Economic Affairs giving sanction to the construction of a green airfield at Pakyong, East Sikkim.
The PIB release informs that the broad gauge rail link upto Rangpo has been approved at a cost of Rs. 1339.48 crores and has been given a ‘National Project’ status. This roughly comes to Rs. 25.41 crores per km of the rail link.
It will be funded as per the funding pattern of 25 percent from GBS for Railways and 75 percent from Ministry of finance as an additionality as has already been approved for similar other projects of North Eastern Region, the PIB release adds. Already, nine national projects covering the states of Assam, Meghalaya, Nagaland, Manipur and Tripura are under construction.
With the new broad gauge line upto Rangpo being approved, it will provide rail connectivity to Sikkim and besides making possible the direct movement of freight and passengers from this region to other parts of the country.
The work on the project is expected to commence during 2008-09 and is expected to be completed by 2015-16 depending upon availability of resources, the release adds.
Elated with the news, Sikkim Chamber of Commerce (SCC) has promptly thanked the Centre for the approval of the rail project for Sikkim after the approving the Pakyong airport also earlier.
“The work on strengthening of infrastructure in this strategic State was of urgent need to provide alternative mode of transportation for goods and people”, said SK Sarda, SCC president.
“The tourism sector, the trade sector, the industrial sector- all will get a boost in times to come providing more opportunities for growth, employment and revenue generation in Sikkim”, Mr. Sarda added.
( sOURCE: SIKKIM EXPRESS)
GANGTOK, November 06: In a pre New Year’s gift for Sikkim, the Centre today formally approved a rail link for this landlocked Himalayan State connecting it with the rest of the nation.
A press release from PIB informs that the Union Cabinet Committee on Economic Affairs today gave its approval for taking up construction of new 52.7 km long broad gauge line from Sevoke in Siliguri of West Bengal to Rangpo in Sikkim.
The project will provide much-needed rail connectivity to Sikkim, a demand persistently followed by the Chief Minster Pawan Chamling
This rail link approval comes close on the heels of the Union Cabinet on Economic Affairs giving sanction to the construction of a green airfield at Pakyong, East Sikkim.
The PIB release informs that the broad gauge rail link upto Rangpo has been approved at a cost of Rs. 1339.48 crores and has been given a ‘National Project’ status. This roughly comes to Rs. 25.41 crores per km of the rail link.
It will be funded as per the funding pattern of 25 percent from GBS for Railways and 75 percent from Ministry of finance as an additionality as has already been approved for similar other projects of North Eastern Region, the PIB release adds. Already, nine national projects covering the states of Assam, Meghalaya, Nagaland, Manipur and Tripura are under construction.
With the new broad gauge line upto Rangpo being approved, it will provide rail connectivity to Sikkim and besides making possible the direct movement of freight and passengers from this region to other parts of the country.
The work on the project is expected to commence during 2008-09 and is expected to be completed by 2015-16 depending upon availability of resources, the release adds.
Elated with the news, Sikkim Chamber of Commerce (SCC) has promptly thanked the Centre for the approval of the rail project for Sikkim after the approving the Pakyong airport also earlier.
“The work on strengthening of infrastructure in this strategic State was of urgent need to provide alternative mode of transportation for goods and people”, said SK Sarda, SCC president.
“The tourism sector, the trade sector, the industrial sector- all will get a boost in times to come providing more opportunities for growth, employment and revenue generation in Sikkim”, Mr. Sarda added.
( sOURCE: SIKKIM EXPRESS)
'SIKKIM" Satyajit Ray's documentary film
Kolkata, Nov 7: A digitally restored version of 'Sikkim,' Satyajit Ray's 1971 documentary which everyone has heard about but not being able to see till date, will be shown during the 14th Kolkata Film Festival to be held from November 10 to 17.
"A digital view of the film will be available before the end of the festival," Josef Lindner, preservationist with the U S Academy of Motion Pictures, now restoring the film, said.
The rights of the film at present rests with a trust which had already given informal permission for the screening, an American Centre official said, adding that a formal intimation from the right holders was expected in the next five days.
Commissioned by the then Chogyal (King) of Sikkim and his wife, the film earned censorship both from them and from the Indian government after the state's accession to India in 1975.
All known prints of the films were subsequently destroyed.
However, a print of the film was discovered in the archives of the British Film Academy in 2003 which is being restored digitally, Lindner, whose major restoration projects include 'The Sound of Music,' and 'Patton,' said.
"A digital view of the film will be available before the end of the festival," Josef Lindner, preservationist with the U S Academy of Motion Pictures, now restoring the film, said.
The rights of the film at present rests with a trust which had already given informal permission for the screening, an American Centre official said, adding that a formal intimation from the right holders was expected in the next five days.
Commissioned by the then Chogyal (King) of Sikkim and his wife, the film earned censorship both from them and from the Indian government after the state's accession to India in 1975.
All known prints of the films were subsequently destroyed.
However, a print of the film was discovered in the archives of the British Film Academy in 2003 which is being restored digitally, Lindner, whose major restoration projects include 'The Sound of Music,' and 'Patton,' said.
EXCUSIVE AIRCRAFT SERVICE IN NORTH EAST
Exclusive aircraft service in NE – NEC
AGARTALA, NOV 5: The North Eastern Council (NEC) is set to finalise the deal to launch a dedicated airline for the eight states of the region including Sikkim. As many as four bidders have expressed their interest to extend the service, official sources said.
According to report, the bid was closed on October 30 and NEC administration had been processing the tenders to set up sustainable air connectivity among the states by March.
Earlier, two tenders did not materialise after the bidders failed to comply with the requirements and this time NEC had made technical requirements flexible for the carriers.
Source said three companies, State-run Alliance Air, Universal Empire and Ace Airlines had bidded after the second global tender was floated in May but they were rejected for their failure to meet the requirements as stated in the tender notice.
NEC, the regional planning body for Northeast, had planned to launch a dedicated airline service for the region connecting all major towns, besides, state capitals of the region and decided to bring 12 more airports in operation in addition to existing eleven.
Meanwhile, Northeast Shuttles Ltd (NSL), a private airline company based in Kolkata has proposed to operate nine-seater aircraft service in the region. In fact a two-member team of the company led by its Managing Director, Capt Sobha K Moni called on Tripura Chief Minister Manik Sarkar and Transport Minister Manik Dey last week. Dey when contacted said the state government had agreed to provide logistic support for air service providers but it needed to get an approval from the Civil Aviation Ministry for operating non- scheduled and charter passenger service in the region.
(Agencies)
AGARTALA, NOV 5: The North Eastern Council (NEC) is set to finalise the deal to launch a dedicated airline for the eight states of the region including Sikkim. As many as four bidders have expressed their interest to extend the service, official sources said.
According to report, the bid was closed on October 30 and NEC administration had been processing the tenders to set up sustainable air connectivity among the states by March.
Earlier, two tenders did not materialise after the bidders failed to comply with the requirements and this time NEC had made technical requirements flexible for the carriers.
Source said three companies, State-run Alliance Air, Universal Empire and Ace Airlines had bidded after the second global tender was floated in May but they were rejected for their failure to meet the requirements as stated in the tender notice.
NEC, the regional planning body for Northeast, had planned to launch a dedicated airline service for the region connecting all major towns, besides, state capitals of the region and decided to bring 12 more airports in operation in addition to existing eleven.
Meanwhile, Northeast Shuttles Ltd (NSL), a private airline company based in Kolkata has proposed to operate nine-seater aircraft service in the region. In fact a two-member team of the company led by its Managing Director, Capt Sobha K Moni called on Tripura Chief Minister Manik Sarkar and Transport Minister Manik Dey last week. Dey when contacted said the state government had agreed to provide logistic support for air service providers but it needed to get an approval from the Civil Aviation Ministry for operating non- scheduled and charter passenger service in the region.
(Agencies)
Friday, November 7, 2008
COMMITTEE ON CURRENT GLOBAL CRISIS
Government Constitutes Committee on Current Global Financial Situation
--------------------------------------------------------------------------------
7 NOV 2008 New Delhi
Prime Minister has approved constitution of a Committee of Officers to be chaired and convened by the Finance Secretary, Ministry of Finance, Government of India, to consider issues raised by industry with regard to the current global financial situation and its impact on India. Other members of the Committee are Commerce Secretary, Secretary (DIPP) and Secretary, Planning Commission.
The Committee has been set up with its Secretariat in North Block, New Delhi. Trade and Industry may send their suggestions in this regard. The postal address and email address are - Shri S.S. Das, Director, Room No. 71B, North Block, New Delhi. – Tel./FAX – 23092326 – Email apexcommittee-mof@nic.in
BSC/SS/DN-291/08
( source:PIB)
--------------------------------------------------------------------------------
7 NOV 2008 New Delhi
Prime Minister has approved constitution of a Committee of Officers to be chaired and convened by the Finance Secretary, Ministry of Finance, Government of India, to consider issues raised by industry with regard to the current global financial situation and its impact on India. Other members of the Committee are Commerce Secretary, Secretary (DIPP) and Secretary, Planning Commission.
The Committee has been set up with its Secretariat in North Block, New Delhi. Trade and Industry may send their suggestions in this regard. The postal address and email address are - Shri S.S. Das, Director, Room No. 71B, North Block, New Delhi. – Tel./FAX – 23092326 – Email apexcommittee-mof@nic.in
BSC/SS/DN-291/08
( source:PIB)
SCC WELCOMES APPROVAL OF RAIL LINK PROJECT FOR SIKKIM
SIKKIM CHAMBER OF COMMERCE
M.G.ROAD, GANGTOK,SIKKIM
Press Release
Dt.6 NOV 2008
Sikkim Chamber of Commerce congratulates Government of India for giving its approval in today’s meeting of the Cabinet Committee on Economic Affairs to take up the construction of a new broad gauge railway line between Sevok and Rangpo covering a distance of 52.7 KMs.
The work on the project is expected to start before the end of this financial year.
The work on stregthening of infrastructure in this strategic State was of urgent need to provide alternative mode of transportation for goods and people. A few days back the Cabinet Committee approved construction of Pakyong Airport. Furthur, the visit of Cabinet Secretay this week will also push forward the double laneing of Nathu La- Siliguri Highway as well as construction of alternate highway to meet the vagaries of the monsoon, frequent blockades and the rising demand of more traffic load.
All this augurs well for the economy of Sikkim and also for the security of the Nation.
The tourism sector, the trade sector, the industrial sector- all will get a boost in times to come providing more opportunities for growth, employment and revenue generation in Sikkim.
S.K.Sarda
President
Sikkim Chamber of Commerce
Gangtok.
6 Nov 2008
M.G.ROAD, GANGTOK,SIKKIM
Press Release
Dt.6 NOV 2008
Sikkim Chamber of Commerce congratulates Government of India for giving its approval in today’s meeting of the Cabinet Committee on Economic Affairs to take up the construction of a new broad gauge railway line between Sevok and Rangpo covering a distance of 52.7 KMs.
The work on the project is expected to start before the end of this financial year.
The work on stregthening of infrastructure in this strategic State was of urgent need to provide alternative mode of transportation for goods and people. A few days back the Cabinet Committee approved construction of Pakyong Airport. Furthur, the visit of Cabinet Secretay this week will also push forward the double laneing of Nathu La- Siliguri Highway as well as construction of alternate highway to meet the vagaries of the monsoon, frequent blockades and the rising demand of more traffic load.
All this augurs well for the economy of Sikkim and also for the security of the Nation.
The tourism sector, the trade sector, the industrial sector- all will get a boost in times to come providing more opportunities for growth, employment and revenue generation in Sikkim.
S.K.Sarda
President
Sikkim Chamber of Commerce
Gangtok.
6 Nov 2008
Thursday, November 6, 2008
CCEA APPROVES SEVOK-RANGPO RAIL LINK
Construction of a new Broad Gauge Line from Sivok to Rangpo (52.70 km)
--------------------------------------------------------------------------------
New Delhi 6 NOV 2008
The Cabinet Committee on Economic Affairs today gave its approval for taking up construction of new broad gauge line from Sivok to Rangpo (52.7 kms) at a cost of Rs.1339.48 crore as ‘National Project’ to be funded as per the funding pattern of 25% from GBS for Railways and 75% from Ministry of finance as an additionality as has already been approved for similar other projects of North Eastern Region.
Rangpo is a township in Sikkim on the border of West Bengal. The new Broad Gauge line will provide rail connectivity to Sikkim and it would make possible direct movement of freight/passengers from this region to other parts of the country.
The work on the project is expected to commence during 2008-09 and is expected to be completed by 2015-16 depending upon availability of resources.
--------------------------------------------------------------------------------
New Delhi 6 NOV 2008
The Cabinet Committee on Economic Affairs today gave its approval for taking up construction of new broad gauge line from Sivok to Rangpo (52.7 kms) at a cost of Rs.1339.48 crore as ‘National Project’ to be funded as per the funding pattern of 25% from GBS for Railways and 75% from Ministry of finance as an additionality as has already been approved for similar other projects of North Eastern Region.
Rangpo is a township in Sikkim on the border of West Bengal. The new Broad Gauge line will provide rail connectivity to Sikkim and it would make possible direct movement of freight/passengers from this region to other parts of the country.
The work on the project is expected to commence during 2008-09 and is expected to be completed by 2015-16 depending upon availability of resources.
Tuesday, November 4, 2008
PM MEETS CAPTAINS OF INDIAN INDUSTRIES
Prime Minister’s meeting with captains of Indian Industry
--------------------------------------------------------------------------------
3 NOV 2008, New Delhi
The Prime Minister, Dr Manmohan Singh met the captains of Indian Industry in New Delhi today. In his opening address, Dr Singh called upon the industry leaders to join in with the government to convert the current global crisis into an opportunity for India. He also outlined the measures being taken by the government to prevent Indian economy from facing the adverse affects of the global financial crisis. Following is the text of the Prime Minister’s address on the occasion:
“We are meeting at a time when the world economy is going through an unprecedented crisis which started in the financial sector in the US but has now spread globally. The financial crisis has exacerbated a global downturn that was expected earlier but is now likely to be more severe and prolonged. A crisis of this magnitude was bound to affect our economy and it has. International credit has shrunk with adverse effects on our corporates and our banks. Global uncertainty is also tending to dampen investor sentiment. All countries have recognized the severity of the problem and its likely fallout, and are taking strong steps in a coordinated fashion. We have done the same and I wanted to share with you the approach we shall follow.
Our first priority was to protect the Indian financial system from possible loss of confidence or contagion effects. I am happy to say that the direct exposure of our banks to problem assets is minimal. Our banks are well regulated and also well capitalized. I think we have successfully conveyed to our people that our banking system, both in the public and the private sector, is safe, and the Government stands behind it and that no one should fear for the safety of bank deposits.
We have also taken several measures to infuse liquidity into the system to ensure adequate flow of credit. We have reduced the Cash Reserve Ratio by 350 basis points. We have also reduced the SLR and the Repo rate. Special facilities have been introduced that will allow banks to obtain finance from the RBI to meet the needs of debt mutual funds or NBFCs. I believe these steps have made a substantial difference. We recognize that the situation is abnormal and we need to be constantly on the alert. The situation is being watched on a day to day basis and more steps will be taken if required.
With these measures I am confident that our financial system will be stable and function well. However, we are also concerned that the negative impact on the real economy must be minimized. The additional liquidity provided or the reduction in Repo rate will help to provide credit at reasonable rates. The public sector banks have been instructed to ensure that they act counter cyclically in this situation to counter the general erosion of confidence. We are able to act more boldly because our efforts to contain inflation have begun to be effective. Movements in the WPI over the past six weeks suggest a definite abatement of inflationary process.
Some duty cuts have been announced to provide relief to civil aviation sector and the iron & steel industry.
Overall, the Government is closely monitoring the evolving macro economic situation and is fully alive to its responsibilities to sustain the growth momentum of the economy at a reasonable level. Expanding investment in infrastructure can play an important counter cyclical role in this situation. We will review projects and programmes in the area of infrastructure development, including both pure public sector projects and public private partnership projects, to ensure that their implementation is expedited and they do not suffer from constraints of funds. We are in any case expanding expenditure in the social sectors i. e. health and education and in rural and agricultural development and progress in these areas will be closely monitored. I am happy to state that our efforts in reviving the momentum in agriculture have clearly bore fruit and we have seen a growth rate of around 4.7% in the past three years and this is expected to continue in the current year. Taken together, these efforts will help to maintain the pace of both growth and stability in the economy.
I invite all of you, to join in the effort to convert this global crisis into an opportunity for India. I trust you will continue to show the confidence and dynamism that had taken our manufacturing growth to all time highs and the rate of growth of the economy to a level that was considered unimaginable, even a decade ago. Our high savings and investment rates have been a great strength in the recent past and we hope that the Indian corporate sector will not let the global crisis shake its confidence. While every effort needs to be made to cut costs and raise productivity, I hope there will be no knee jerk reaction such as large scale lay-offs which may lead to a negative spiral. Industry must bear in mind its societal obligations in coping with the effects of this global crisis. Government and industry must act in a true spirit of partnership to meet the challenges that lie ahead.
I would like to assure each one of you that the Government will take all necessary monetary and fiscal policy measures on the domestic front to protect our growth rates. On the international front, we are working closely with other countries to ensure coordinated policy action and increased development cooperation for the containment of this crisis. We will seek reform of the international financial institutions, and improved regulation and supervision, to prevent recurrence of such crises.
I welcome you comments and suggestions regarding the strategy we should adopt, both in our international negotiations and in the domestic arena. We will now listen to you and at the end I will ask both the Finance Minister and Minister of Industry and Commerce to sum up. “
Source: PIB)
--------------------------------------------------------------------------------
3 NOV 2008, New Delhi
The Prime Minister, Dr Manmohan Singh met the captains of Indian Industry in New Delhi today. In his opening address, Dr Singh called upon the industry leaders to join in with the government to convert the current global crisis into an opportunity for India. He also outlined the measures being taken by the government to prevent Indian economy from facing the adverse affects of the global financial crisis. Following is the text of the Prime Minister’s address on the occasion:
“We are meeting at a time when the world economy is going through an unprecedented crisis which started in the financial sector in the US but has now spread globally. The financial crisis has exacerbated a global downturn that was expected earlier but is now likely to be more severe and prolonged. A crisis of this magnitude was bound to affect our economy and it has. International credit has shrunk with adverse effects on our corporates and our banks. Global uncertainty is also tending to dampen investor sentiment. All countries have recognized the severity of the problem and its likely fallout, and are taking strong steps in a coordinated fashion. We have done the same and I wanted to share with you the approach we shall follow.
Our first priority was to protect the Indian financial system from possible loss of confidence or contagion effects. I am happy to say that the direct exposure of our banks to problem assets is minimal. Our banks are well regulated and also well capitalized. I think we have successfully conveyed to our people that our banking system, both in the public and the private sector, is safe, and the Government stands behind it and that no one should fear for the safety of bank deposits.
We have also taken several measures to infuse liquidity into the system to ensure adequate flow of credit. We have reduced the Cash Reserve Ratio by 350 basis points. We have also reduced the SLR and the Repo rate. Special facilities have been introduced that will allow banks to obtain finance from the RBI to meet the needs of debt mutual funds or NBFCs. I believe these steps have made a substantial difference. We recognize that the situation is abnormal and we need to be constantly on the alert. The situation is being watched on a day to day basis and more steps will be taken if required.
With these measures I am confident that our financial system will be stable and function well. However, we are also concerned that the negative impact on the real economy must be minimized. The additional liquidity provided or the reduction in Repo rate will help to provide credit at reasonable rates. The public sector banks have been instructed to ensure that they act counter cyclically in this situation to counter the general erosion of confidence. We are able to act more boldly because our efforts to contain inflation have begun to be effective. Movements in the WPI over the past six weeks suggest a definite abatement of inflationary process.
Some duty cuts have been announced to provide relief to civil aviation sector and the iron & steel industry.
Overall, the Government is closely monitoring the evolving macro economic situation and is fully alive to its responsibilities to sustain the growth momentum of the economy at a reasonable level. Expanding investment in infrastructure can play an important counter cyclical role in this situation. We will review projects and programmes in the area of infrastructure development, including both pure public sector projects and public private partnership projects, to ensure that their implementation is expedited and they do not suffer from constraints of funds. We are in any case expanding expenditure in the social sectors i. e. health and education and in rural and agricultural development and progress in these areas will be closely monitored. I am happy to state that our efforts in reviving the momentum in agriculture have clearly bore fruit and we have seen a growth rate of around 4.7% in the past three years and this is expected to continue in the current year. Taken together, these efforts will help to maintain the pace of both growth and stability in the economy.
I invite all of you, to join in the effort to convert this global crisis into an opportunity for India. I trust you will continue to show the confidence and dynamism that had taken our manufacturing growth to all time highs and the rate of growth of the economy to a level that was considered unimaginable, even a decade ago. Our high savings and investment rates have been a great strength in the recent past and we hope that the Indian corporate sector will not let the global crisis shake its confidence. While every effort needs to be made to cut costs and raise productivity, I hope there will be no knee jerk reaction such as large scale lay-offs which may lead to a negative spiral. Industry must bear in mind its societal obligations in coping with the effects of this global crisis. Government and industry must act in a true spirit of partnership to meet the challenges that lie ahead.
I would like to assure each one of you that the Government will take all necessary monetary and fiscal policy measures on the domestic front to protect our growth rates. On the international front, we are working closely with other countries to ensure coordinated policy action and increased development cooperation for the containment of this crisis. We will seek reform of the international financial institutions, and improved regulation and supervision, to prevent recurrence of such crises.
I welcome you comments and suggestions regarding the strategy we should adopt, both in our international negotiations and in the domestic arena. We will now listen to you and at the end I will ask both the Finance Minister and Minister of Industry and Commerce to sum up. “
Source: PIB)
Sunday, November 2, 2008
YOGA & HEALTH CAMP BY SIKKIM CHAMBER OF COMMERCE
SIKKIM CHAMBER OF COMMERCE
M.G.ROAD, GANGTOK,SIKKIM 737101
DT: 31 Oct 2008
Press Release
Sikkim Chamber of Commerce in association with Dev Sanskriti Vishwavidyalaya, Haridwar organised a successful Yoga & Health Camp at Gangtok, Sikkim from 23rd Oct 2008 to 30th Oct 2008 in active association with four resource persons of Dev Sanskriti Vishwavidyala, Haridwar.
The programme consisted of:
Yoga, Pranayam and Dhyana Yoga, Pranic Healing, Accupressure Yagyopathy, Homatherapy and Dip Yagyan. Besides talks on art of living was an added attraction.
More than 200 patients got benefited from this programme. Yoga, Pranayam and Dhyana Yoga was a big attraction for all sections of society.
All the four resource persons were expert in their own field.
Shri Krishna Kumar took lead in organizing Yoga, Dhyana and Pranayam, Accupressure Classes and was the main speaker in all Deep Yagyans.
Shri Gautam Churamani being from Sikkim helped propagate information on the programme to various sections of society. He arranged video shows on Meditation which brought new insights to Meditation to the participants in Sikkim.
Kunwar Pravin Singh did Pranic Healing to patients and conducted Puja during Deep Yagyans.
Shri Trayamkam Trivedi propogated Dev Sanskriti Viswavidyalaya, the contribution of Pandit Ram Sharma founder of the Gayatri Mission to protect, strengthen and expand the culture and religion heritage of India.
The local organizer Shri D K Pandey and Shri Bhatt, Principal, Indira Gandhi School, Gangtok did excellent jobs to motivate people. Chinmaya Mission-Sikkim Centre provided boarding facility for the visiting resource persons.
The whole Camp was an unique experience for visitors and patients.
S.K.Sarda
President, Sikkim Chamber of Commerce
Gangtok,Sikkim
31 Oct 2008
M.G.ROAD, GANGTOK,SIKKIM 737101
DT: 31 Oct 2008
Press Release
Sikkim Chamber of Commerce in association with Dev Sanskriti Vishwavidyalaya, Haridwar organised a successful Yoga & Health Camp at Gangtok, Sikkim from 23rd Oct 2008 to 30th Oct 2008 in active association with four resource persons of Dev Sanskriti Vishwavidyala, Haridwar.
The programme consisted of:
Yoga, Pranayam and Dhyana Yoga, Pranic Healing, Accupressure Yagyopathy, Homatherapy and Dip Yagyan. Besides talks on art of living was an added attraction.
More than 200 patients got benefited from this programme. Yoga, Pranayam and Dhyana Yoga was a big attraction for all sections of society.
All the four resource persons were expert in their own field.
Shri Krishna Kumar took lead in organizing Yoga, Dhyana and Pranayam, Accupressure Classes and was the main speaker in all Deep Yagyans.
Shri Gautam Churamani being from Sikkim helped propagate information on the programme to various sections of society. He arranged video shows on Meditation which brought new insights to Meditation to the participants in Sikkim.
Kunwar Pravin Singh did Pranic Healing to patients and conducted Puja during Deep Yagyans.
Shri Trayamkam Trivedi propogated Dev Sanskriti Viswavidyalaya, the contribution of Pandit Ram Sharma founder of the Gayatri Mission to protect, strengthen and expand the culture and religion heritage of India.
The local organizer Shri D K Pandey and Shri Bhatt, Principal, Indira Gandhi School, Gangtok did excellent jobs to motivate people. Chinmaya Mission-Sikkim Centre provided boarding facility for the visiting resource persons.
The whole Camp was an unique experience for visitors and patients.
S.K.Sarda
President, Sikkim Chamber of Commerce
Gangtok,Sikkim
31 Oct 2008
Tuesday, October 28, 2008
CABINET SECRETARY IN SIKKIM ON NOV 7,2008
Central team to visit Sikkim on Nov 7
GANGTOK, October 27: A high-level team of central officials led by Cabinet Secretary K M Chandrashekhar will visit Sikkim on November 7 to review progress in the infrastructure development works in the state.
Chandrashekhar, along with the secretaries of various departments and other representatives will hold meeting with Chief Minister Pawan Kumar Chamling to enquire the progress in the works on a highway between Bagdogra in north Bengal to Gangtok, feasibility of an alternative high way for better connectivity to the border state and the upcoming greenfield airport at Pakyong in Sikkim's East district, official sources said.
The status of the implementation of various central flagship programmes such as NREG, PMGSY, JNURM and NHRM in the state would also come for review during the visit of the central officials.
The officials will also discuss various issues with Governor B P Singh and state government officials, the sources said. (PTI)
GANGTOK, October 27: A high-level team of central officials led by Cabinet Secretary K M Chandrashekhar will visit Sikkim on November 7 to review progress in the infrastructure development works in the state.
Chandrashekhar, along with the secretaries of various departments and other representatives will hold meeting with Chief Minister Pawan Kumar Chamling to enquire the progress in the works on a highway between Bagdogra in north Bengal to Gangtok, feasibility of an alternative high way for better connectivity to the border state and the upcoming greenfield airport at Pakyong in Sikkim's East district, official sources said.
The status of the implementation of various central flagship programmes such as NREG, PMGSY, JNURM and NHRM in the state would also come for review during the visit of the central officials.
The officials will also discuss various issues with Governor B P Singh and state government officials, the sources said. (PTI)
SMIT ORGANISING WORKSHOP ON EXPORT 3 TO 5 NOV 2008 AT RANGPO
Shri S.K.Sarda,
SMIT is organising a 3day workshop on the above subject in collaboration with Indian Institute of Foreign Trade from Nov 3 to Nov 5,2008.As the w/shop is directed to tap/promote export potential of Sikkim ,it becomes imperative that entrepreneurs fm Sikkim should be part of this w/shop to not only to listen to the expert views but also to highlight any problems faced by them.
With this in mind we thought of using your good offices for knowing and contacting the entrepreneursand also to persuade them to be part of this w/shop.The participation fee is anominal sum of Rs,500/per candidate .
I am sure ,sir,that you would provide us with your support inthis venture.
Wishing you a Happy Deepawali!
Manjit Singh
Reader, Sikkim Manipal Institute of Technology
Majitar, Rangpo, East Sikkim.
SMIT is organising a 3day workshop on the above subject in collaboration with Indian Institute of Foreign Trade from Nov 3 to Nov 5,2008.As the w/shop is directed to tap/promote export potential of Sikkim ,it becomes imperative that entrepreneurs fm Sikkim should be part of this w/shop to not only to listen to the expert views but also to highlight any problems faced by them.
With this in mind we thought of using your good offices for knowing and contacting the entrepreneursand also to persuade them to be part of this w/shop.The participation fee is anominal sum of Rs,500/per candidate .
I am sure ,sir,that you would provide us with your support inthis venture.
Wishing you a Happy Deepawali!
Manjit Singh
Reader, Sikkim Manipal Institute of Technology
Majitar, Rangpo, East Sikkim.
Saturday, October 25, 2008
PM ON FAILURE OF WORLD ECONOMIC ORDER
Remarks by Prime Minister Dr. Manmohan Singh on International Financial Crisis at the ASEM Summit at Beijing
--------------------------------------------------------------------------------
10:29 IST
Following is the text of the remarks by the Prime Minister, Dr. Manmohan Singh at the ASEM Summit at Beijing yesterday:
The international financial crisis has resulted from three failures:
(a) A regulatory and supervisory failure in major developed countries;
(b) A failure in risk management in private financial institutions;
(c) A failure in market discipline mechanism
These are not my views but those of the distinguished Managing Director of the IMF, with which I agree.
We must analyse objectively how and why these failures have occurred with such ferocity. This is necessary to put in place a new set of rules which will prevent reoccurrence of such failures.
The sad truth is that in this age of globalisation we have a global economy of sorts but it is not supported by a global polity to provide effective governance.
The resulting crisis of liquidity, accumulation of bad assets, shortage of capital and collapse of confidence threatens to spill over into the real economy by way of reduced demand for goods and services particularly exports, reduced access to trade and suppliers credits superimposed on other crises – food and fuel price rises that have strained budgets and balance of payments leading to rising inflation and living costs in many developing countries.
The President of the World Bank has identified at least 30 developing countries whose balance of payments will experience a severe deterioration in the wake of this financial crisis.
The immediate task is to declog the credit markets the world over. Coordinated global action is essential to restore a measure of confidence in the credit markets.
From the standpoint of developing countries, international financial institutions, particularly the IMF and World Bank, need to put in place exogenous shock facilities to provide assistance to the affected countries more quickly and in larger amounts with less service conditionalities and greater flexibility.
Countries with strong foreign exchange positions could make additional resources available to the international financial institutions on appropriate terms to finance their operations.
As a counter cyclical device, increased infrastructure investments in developing countries, if backed by increased resources flows from multilateral financial institutions such as the IBRD and Regional Development Banks, can act as a powerful stabilizer.
The IMF should revisit the potentially powerful instrument of creating liquidity through fresh allocation of Special Drawing Rights in favour of multilateral development finance institutions.
The reform and reconstruction of the financial system has to be a collective international effort since borders no longer confine financial institutions or can keep out financial turmoil. Given the growth in cross-border investment, trade and banking in the last three decades, the world must ponder over the need for a global monitoring authority to promote global supervision and cooperation in the increasingly integrated world in which we live.
In devising a reform agenda, one must bear the wise saying of John Maynard Keynes regarding the economically damaging role of excessive speculative activity. To quote Keynes :
“Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a byproduct of the activities of a casino, the job is likely to be ill-done"
Clearly, there has been a massive failure of regulatory and supervisory powers. Speculators have had a free run for far too long a period. International institutions like the IMF have also not covered themselves with glory. There has been an unacceptable failure of effective multilateral supervision of major developed economies and in particular of what has been going on in their financial markets.
India’s banking system is sound and well capitalized. It is not exposed to the type of assets which have given rise to this crisis. Our real economy will grow at the rate of 7 to 7.5 percent this year despite the global slowdown of export demand and capital inflows. We have injected fresh liquidity in the system.
We realize that we cannot remain totally unaffected when the global economy and financial system are in deep trouble. Our stock markets and the exchange rate of the rupee are under pressure due to capital outflow of foreign institutional investors. Sooner or later, the real economy is bound to experience the pain.
We are therefore sincere in our desire to cooperate and coordinate our actions with the world community to find effective and pragmatic solutions to the formidable challenges the world economy is now faced with.”
****
--------------------------------------------------------------------------------
10:29 IST
Following is the text of the remarks by the Prime Minister, Dr. Manmohan Singh at the ASEM Summit at Beijing yesterday:
The international financial crisis has resulted from three failures:
(a) A regulatory and supervisory failure in major developed countries;
(b) A failure in risk management in private financial institutions;
(c) A failure in market discipline mechanism
These are not my views but those of the distinguished Managing Director of the IMF, with which I agree.
We must analyse objectively how and why these failures have occurred with such ferocity. This is necessary to put in place a new set of rules which will prevent reoccurrence of such failures.
The sad truth is that in this age of globalisation we have a global economy of sorts but it is not supported by a global polity to provide effective governance.
The resulting crisis of liquidity, accumulation of bad assets, shortage of capital and collapse of confidence threatens to spill over into the real economy by way of reduced demand for goods and services particularly exports, reduced access to trade and suppliers credits superimposed on other crises – food and fuel price rises that have strained budgets and balance of payments leading to rising inflation and living costs in many developing countries.
The President of the World Bank has identified at least 30 developing countries whose balance of payments will experience a severe deterioration in the wake of this financial crisis.
The immediate task is to declog the credit markets the world over. Coordinated global action is essential to restore a measure of confidence in the credit markets.
From the standpoint of developing countries, international financial institutions, particularly the IMF and World Bank, need to put in place exogenous shock facilities to provide assistance to the affected countries more quickly and in larger amounts with less service conditionalities and greater flexibility.
Countries with strong foreign exchange positions could make additional resources available to the international financial institutions on appropriate terms to finance their operations.
As a counter cyclical device, increased infrastructure investments in developing countries, if backed by increased resources flows from multilateral financial institutions such as the IBRD and Regional Development Banks, can act as a powerful stabilizer.
The IMF should revisit the potentially powerful instrument of creating liquidity through fresh allocation of Special Drawing Rights in favour of multilateral development finance institutions.
The reform and reconstruction of the financial system has to be a collective international effort since borders no longer confine financial institutions or can keep out financial turmoil. Given the growth in cross-border investment, trade and banking in the last three decades, the world must ponder over the need for a global monitoring authority to promote global supervision and cooperation in the increasingly integrated world in which we live.
In devising a reform agenda, one must bear the wise saying of John Maynard Keynes regarding the economically damaging role of excessive speculative activity. To quote Keynes :
“Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a byproduct of the activities of a casino, the job is likely to be ill-done"
Clearly, there has been a massive failure of regulatory and supervisory powers. Speculators have had a free run for far too long a period. International institutions like the IMF have also not covered themselves with glory. There has been an unacceptable failure of effective multilateral supervision of major developed economies and in particular of what has been going on in their financial markets.
India’s banking system is sound and well capitalized. It is not exposed to the type of assets which have given rise to this crisis. Our real economy will grow at the rate of 7 to 7.5 percent this year despite the global slowdown of export demand and capital inflows. We have injected fresh liquidity in the system.
We realize that we cannot remain totally unaffected when the global economy and financial system are in deep trouble. Our stock markets and the exchange rate of the rupee are under pressure due to capital outflow of foreign institutional investors. Sooner or later, the real economy is bound to experience the pain.
We are therefore sincere in our desire to cooperate and coordinate our actions with the world community to find effective and pragmatic solutions to the formidable challenges the world economy is now faced with.”
****
PM ON SUSTAINABLE DEVELOPMENT
PM’s STATEMENT ON SUSTAINABLE DEVELOPMENT
--------------------------------------------------------------------------------
24 Oct 2008,Beizing 11:55 IST
Following is the text of the Prime Minister, Dr. Manmohan Singh’s statement on Sustainable Development in Beijing today:
“Sustainable development is among the biggest challenges of our times. However, a lot of cooperative work is needed to transform it from a mere buzz word to an operational strategy for development.
We know that Asia is home to the largest concentration of the world’s poor. Poverty eradication at this scale requires a collaborative global effort to promote development and in particular to create job opportunities. If we fail, we will continue to live in a world of instability and conflict.
The development strategies that we adopt have to result in a fair, equitable and balanced distribution of the economic dividend. At the same time, it must also preserve and protect the environment. Only then can we make faster progress in meeting the Millennium Development Goals.
We therefore need to put in place a global action plan to promote both food and energy security for managing the challenges of both accelerated growth and its environmental sustainability.
Unfortunately, the international community has not lived up to its commitments for technology transfer and additional financing since the Rio Conference. We should pursue innovative mechanisms for raising finance for development and creating a favourable IPR regime.
Climate change threatens our environment and our development. A holistic approach is needed to tackle this problem. We cannot do so by perpetuating the poverty of the developing countries, or by preventing their industrialization. The challenge ahead is to put in place development strategies which improve living standards, create opportunities for job creation and are also environment friendly.
Thus, common but differentiated responsibility should be the cardinal principle of negotiations to find practical and pragmatic solutions within the UN Framework Convention on Climate Change.
Progress on the implementation of the Kyoto Protocol has been slow. Emissions of developed countries have actually increased by 2.6 % from 2000 to 2005. We should call upon our European partners to do more in this regard. The developing world is committed to doing its share.
I believe that the principle of convergence of per-capita emissions of developing countries with advanced developed countries is catching the imagination of the international community. We should recognize that each citizen of the world has equal entitlement to the global atmospheric space.
Our dependence on fossil fuels is a cause of many problems. Greater effort is needed to promote clean and renewable sources of energy, including nuclear energy.
The world therefore needs a new compact to increase efficiency in the use of available energy resources.
Without peace there can be no sustainable development. Terrorism, extremism, and intolerance threaten our social cohesion.
We need to continuously strengthen international cooperation to combat terrorism. We must bring perpetrators, organizers, financiers and sponsors of terrorism to justice.
Finally, globalization, if it is to succeed, must be fair and benefit the whole of humanity. Development has to be inclusive. It must reduce disparities of income and wealth. It should create ever widening circles of stake-holders. It should respect pluralism and diversity.
Asia is growing rapidly and has proven capabilities as a provider of goods, services and knowledge. Europeans are world leaders in the scientific, technological and financial areas. We have therefore much to learn from each other. We seek on this historic occasion a meeting of minds and of these complementarities to bring both stability and prosperity to our two continents and to the world at large.”
SOURCE:PIB****
--------------------------------------------------------------------------------
24 Oct 2008,Beizing 11:55 IST
Following is the text of the Prime Minister, Dr. Manmohan Singh’s statement on Sustainable Development in Beijing today:
“Sustainable development is among the biggest challenges of our times. However, a lot of cooperative work is needed to transform it from a mere buzz word to an operational strategy for development.
We know that Asia is home to the largest concentration of the world’s poor. Poverty eradication at this scale requires a collaborative global effort to promote development and in particular to create job opportunities. If we fail, we will continue to live in a world of instability and conflict.
The development strategies that we adopt have to result in a fair, equitable and balanced distribution of the economic dividend. At the same time, it must also preserve and protect the environment. Only then can we make faster progress in meeting the Millennium Development Goals.
We therefore need to put in place a global action plan to promote both food and energy security for managing the challenges of both accelerated growth and its environmental sustainability.
Unfortunately, the international community has not lived up to its commitments for technology transfer and additional financing since the Rio Conference. We should pursue innovative mechanisms for raising finance for development and creating a favourable IPR regime.
Climate change threatens our environment and our development. A holistic approach is needed to tackle this problem. We cannot do so by perpetuating the poverty of the developing countries, or by preventing their industrialization. The challenge ahead is to put in place development strategies which improve living standards, create opportunities for job creation and are also environment friendly.
Thus, common but differentiated responsibility should be the cardinal principle of negotiations to find practical and pragmatic solutions within the UN Framework Convention on Climate Change.
Progress on the implementation of the Kyoto Protocol has been slow. Emissions of developed countries have actually increased by 2.6 % from 2000 to 2005. We should call upon our European partners to do more in this regard. The developing world is committed to doing its share.
I believe that the principle of convergence of per-capita emissions of developing countries with advanced developed countries is catching the imagination of the international community. We should recognize that each citizen of the world has equal entitlement to the global atmospheric space.
Our dependence on fossil fuels is a cause of many problems. Greater effort is needed to promote clean and renewable sources of energy, including nuclear energy.
The world therefore needs a new compact to increase efficiency in the use of available energy resources.
Without peace there can be no sustainable development. Terrorism, extremism, and intolerance threaten our social cohesion.
We need to continuously strengthen international cooperation to combat terrorism. We must bring perpetrators, organizers, financiers and sponsors of terrorism to justice.
Finally, globalization, if it is to succeed, must be fair and benefit the whole of humanity. Development has to be inclusive. It must reduce disparities of income and wealth. It should create ever widening circles of stake-holders. It should respect pluralism and diversity.
Asia is growing rapidly and has proven capabilities as a provider of goods, services and knowledge. Europeans are world leaders in the scientific, technological and financial areas. We have therefore much to learn from each other. We seek on this historic occasion a meeting of minds and of these complementarities to bring both stability and prosperity to our two continents and to the world at large.”
SOURCE:PIB****
Friday, October 24, 2008
LIMIITED LIABILITY PARNETSHIP BILL PASSED BY PARLIAMENT
Limited Liability Partnership Bill, 2008 passed by Rajya Sabha
ALL SIDES SUPPORT THE BILL
--------------------------------------------------------------------------------
New Delhi 24.10.2008
15:0 IST
Rajya Sabha has passed the Limited Liability Partnership Bill, 2008. Minister of Corporate Affairs, Shri Prem Chand Gupta today presented the Bill for consideration and passage by the House. All members supported it, thereby giving it the nod of the Rajya Sabha. The Bill provides for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto.
Limited Liability Partnership (LLP) as proposed in the Bill, 2008 is a new corporate form that enables professional expertise and entrepreneurial initiative to combine, organize and operate in an innovative and efficient manner. In India, this need has long been recognised for businesses which may require a framework that provides flexibility suited to requirements of service, knowledge and technology based enterprises.
Services sector is playing a major role in the national economy and there is a growing diversity in the range of services being offered. The services sector would also find this form very useful.The advantage of the LLP form would be that it will not impose detailed legal and procedural requirements intended for large widely held companies on such enterprises. In this way it will also be useful for small enterprises.
The need for LLP legislation has been recognized for a very long time. Various committees and Expert Groups have, from time to time, recommended introduction of LLP legislation in India. In the last decade itself, Abid Hussain Committee (1997) had recommended this legislation in the context of SSIs. The Naresh Chandra Committee on Regulation of Private Companies and Partnerships (2003) and Dr. Irani Committee on New Company Law (2005) had also made recommendations for a separate LLP Legislation.
However, it is the recent initiative of the Ministry of Corporate Affairs that has enabled this legislation to be finalized and tabled in the Parliament.
Government had earlier introduced the Limited Liability Partnership Bill, 2006 in the Rajya Sabha on 15th December, 2006. It was later referred to the Department Related Parliamentary Standing Committee on Finance for examination and report. The Committee submitted its recommendations in its report to both Houses of Parliament on 27th November, 2007. The present Bill, 2008 has taken in view the recommendations made by the Standing Committee and other relevant inputs.
The salient features of the LLP Bill, 2008 are as follows:
(i) The LLP will be an alternative corporate business vehicle that would give the benefits of limited liability but would allow its members the flexibility of organizing their internal structure as a partnership based on an agreement.
(ii) The Bill does not restrict the benefit of LLP structure to certain classes of professionals only and would be available for use by any enterprise which fulfills the requirements of the Act.
(iii) While the LLP will be a separate legal entity, liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution in the LLP. Further, no partner would be liable on account of the independent or un-authorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
(iv) LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs. Since LLP shall be in the form of a body corporate, it is also proposed that the relevant provisions of the Companies Act, 1956 may be made applicable to LLPs at any time in the future by Notification by Central Government, with such changes or modifications as appropriate.
(v) An LLP shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. Since tax matters of all entities in India are addressed in the Income Tax Act, 1961, the taxation of LLPs shall be addressed in that Act.
(vi) Provisions have been made in the Bill for corporate actions like mergers, amalgamations etc.
(vii) While enabling provisions in respect of winding up and dissolutions of LLPs have been made in the Bill, detailed provisions in this regard would be provided by way of rules under the Act.
------------
sOURCE:pib)
ALL SIDES SUPPORT THE BILL
--------------------------------------------------------------------------------
New Delhi 24.10.2008
15:0 IST
Rajya Sabha has passed the Limited Liability Partnership Bill, 2008. Minister of Corporate Affairs, Shri Prem Chand Gupta today presented the Bill for consideration and passage by the House. All members supported it, thereby giving it the nod of the Rajya Sabha. The Bill provides for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto.
Limited Liability Partnership (LLP) as proposed in the Bill, 2008 is a new corporate form that enables professional expertise and entrepreneurial initiative to combine, organize and operate in an innovative and efficient manner. In India, this need has long been recognised for businesses which may require a framework that provides flexibility suited to requirements of service, knowledge and technology based enterprises.
Services sector is playing a major role in the national economy and there is a growing diversity in the range of services being offered. The services sector would also find this form very useful.The advantage of the LLP form would be that it will not impose detailed legal and procedural requirements intended for large widely held companies on such enterprises. In this way it will also be useful for small enterprises.
The need for LLP legislation has been recognized for a very long time. Various committees and Expert Groups have, from time to time, recommended introduction of LLP legislation in India. In the last decade itself, Abid Hussain Committee (1997) had recommended this legislation in the context of SSIs. The Naresh Chandra Committee on Regulation of Private Companies and Partnerships (2003) and Dr. Irani Committee on New Company Law (2005) had also made recommendations for a separate LLP Legislation.
However, it is the recent initiative of the Ministry of Corporate Affairs that has enabled this legislation to be finalized and tabled in the Parliament.
Government had earlier introduced the Limited Liability Partnership Bill, 2006 in the Rajya Sabha on 15th December, 2006. It was later referred to the Department Related Parliamentary Standing Committee on Finance for examination and report. The Committee submitted its recommendations in its report to both Houses of Parliament on 27th November, 2007. The present Bill, 2008 has taken in view the recommendations made by the Standing Committee and other relevant inputs.
The salient features of the LLP Bill, 2008 are as follows:
(i) The LLP will be an alternative corporate business vehicle that would give the benefits of limited liability but would allow its members the flexibility of organizing their internal structure as a partnership based on an agreement.
(ii) The Bill does not restrict the benefit of LLP structure to certain classes of professionals only and would be available for use by any enterprise which fulfills the requirements of the Act.
(iii) While the LLP will be a separate legal entity, liable to the full extent of its assets, the liability of the partners would be limited to their agreed contribution in the LLP. Further, no partner would be liable on account of the independent or un-authorized actions of other partners, thus allowing individual partners to be shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
(iv) LLP shall be a body corporate and a legal entity separate from its partners. It will have perpetual succession. Indian Partnership Act, 1932 shall not be applicable to LLPs. Since LLP shall be in the form of a body corporate, it is also proposed that the relevant provisions of the Companies Act, 1956 may be made applicable to LLPs at any time in the future by Notification by Central Government, with such changes or modifications as appropriate.
(v) An LLP shall be under obligation to maintain annual accounts reflecting true and fair view of its state of affairs. Since tax matters of all entities in India are addressed in the Income Tax Act, 1961, the taxation of LLPs shall be addressed in that Act.
(vi) Provisions have been made in the Bill for corporate actions like mergers, amalgamations etc.
(vii) While enabling provisions in respect of winding up and dissolutions of LLPs have been made in the Bill, detailed provisions in this regard would be provided by way of rules under the Act.
------------
sOURCE:pib)
Tuesday, October 21, 2008
ABOUT SIKKIM CHAMBER OF COMMERCE
Sikkim Chamber of Commerce is the rallying point for free enterprises in Sikkim. It is empowering Sikkim businesses in the changing times.
It was founded by some 200 founder members in the year 1962. Besides, all the trade associations and local chambers of businesses nominate two representatives each to the Executive body. Currently it is represented by trade associations in textile, chemist, hardware, electrical, motor parts and other businesses in Sikkim.
It is continuously taking up issues on up gradation and improvement of Indo-China border trade at Nathu la with various national and local agencies.
SCC shares the vision and speaks for Sikkim businesses directly and indirectly for over 3500 business units. It has membership of enterprises drawn from medium, small and tiny segments of manufacturing, trade and services. SCC maintains the lead as the proactive business solution provider through interactions at the highest political and commercial level within the State and at Centre.
Set up in 1962, on the advice of then Chogyal (King) of Sikkim, SCC is the oldest business organization of Sikkim businesses. It is registered with the Government of Sikkim.
In the knowledge-driven globalize economy, SCC stands for quality, competitiveness, transparency, accountability and business-government-civil society partnership to spread ethics-based business practices and to enhance the quality of life of the common people
SCC has always stood behind the nation in the hour of crisis. It has liberally aided in the recent Bihar Floods and also in Kargil War. It is committed to free enterprise and competition which is the key to enhance the quality of life of the people and to build a new, dynamic and vibrant Sikkim.
SCC acts as a bridge between the business enterprise however small or big and the Government for meaningful business and revenue in the State and is often consulted by the State Government on all developmental issues like ecology, urban development, infrastructure and planning.
Contact:
Shri S.K.Sarda, President
Shri Suresh Agarwal General Secretary
SIKKIM CHAMBER OF COMMERCE
Mahatma Gandhi Road
Gangtok, Sikkim 737101
Phone: 03592-203594
E-mail: sikkimchamberofcommerce@yahoo.com
It was founded by some 200 founder members in the year 1962. Besides, all the trade associations and local chambers of businesses nominate two representatives each to the Executive body. Currently it is represented by trade associations in textile, chemist, hardware, electrical, motor parts and other businesses in Sikkim.
It is continuously taking up issues on up gradation and improvement of Indo-China border trade at Nathu la with various national and local agencies.
SCC shares the vision and speaks for Sikkim businesses directly and indirectly for over 3500 business units. It has membership of enterprises drawn from medium, small and tiny segments of manufacturing, trade and services. SCC maintains the lead as the proactive business solution provider through interactions at the highest political and commercial level within the State and at Centre.
Set up in 1962, on the advice of then Chogyal (King) of Sikkim, SCC is the oldest business organization of Sikkim businesses. It is registered with the Government of Sikkim.
In the knowledge-driven globalize economy, SCC stands for quality, competitiveness, transparency, accountability and business-government-civil society partnership to spread ethics-based business practices and to enhance the quality of life of the common people
SCC has always stood behind the nation in the hour of crisis. It has liberally aided in the recent Bihar Floods and also in Kargil War. It is committed to free enterprise and competition which is the key to enhance the quality of life of the people and to build a new, dynamic and vibrant Sikkim.
SCC acts as a bridge between the business enterprise however small or big and the Government for meaningful business and revenue in the State and is often consulted by the State Government on all developmental issues like ecology, urban development, infrastructure and planning.
Contact:
Shri S.K.Sarda, President
Shri Suresh Agarwal General Secretary
SIKKIM CHAMBER OF COMMERCE
Mahatma Gandhi Road
Gangtok, Sikkim 737101
Phone: 03592-203594
E-mail: sikkimchamberofcommerce@yahoo.com
Monday, October 20, 2008
DEPOSITS IN INDIAN BANK SAFE-PM IN LOK SABHA
DEPOSITS IN OUR BANKS ENTIRELY SAFE: PM
A NUMBER OF STEPS TAKEN TO ADDRESS THE PROBLEMS
--------------------------------------------------------------------------------
nEW dELHI 20.10.2008
17:19 IST
The Prime Minister, Dr. Manmohan Singh, has assured the depositors that their deposits in our banks is entirely safe. Making a suo motu statement in the Lok Sabha today, he said that the Indian banking system is not directly exposed to the sub-prime mortgage assets. “Their exposure to other problem assets is also minimal. Our banks, both in the public sector and in the private sector, are financially sound, well capitalised and well regulated. There should be no fear of a failure of any bank. In particular, I wish to assure depositors in our banks that their deposits are entirely safe,” the Prime minister added.
Dr. Singh further said that as a result of a number of steps taken to address the problems in India, the liquidity position in the financial system has improved considerably. He added that the Government has arranged to provide, in advance, a sum of Rs.25,000 crore to the Banking System under the Debt Waiver and Debt Relief Scheme. The limit of investment by Foreign Institutional Investors in corporate bonds was increased from US$3 billion to US$6 billion. The Prime Minister also informed the House that suitable advisories have been issued by the RBI and the Ministry of Finance to the banks to ensure that borrowers are provided adequate credit, including export credit and working capital. “Banks must also provide adequate funds in the form of investment or credit to mutual funds and NBFCs who, in turn, lend to industry, trade and business”, he added.
Following is the text of the suo motu statement made by the Prime Minister, Dr. Manmohan Singh in the Lok Sabha on the ongoing global financial crisis and its impact on India”
“I wish to make a statement on the ongoing global financial crisis and its impact on India . Honourable Members are aware that this crisis had its origins in the United States and spread quickly to Europe. While the crisis began in the housing mortgage market, it soon extended to the money market and the credit market. As a result, several financial institutions were pushed to the brink of insolvency. The US and some other developed countries have bailed out a number of financial institutions and banks. They have also taken a number of unconventional steps to infuse liquidity, recapitalize the banks and unfreeze the credit market.
The financial storm has shaken confidence in the system and precipitated a steep decline in stock markets.
It has produced a sharp slowdown in economic activity, with the prospect of a prolonged recession in industrialised countries. Many observers have described this as the worst crisis since the Great Depression of 1930s.
India, like other developing countries, is experiencing the ripple effects of the financial crisis. However, we have taken a number of steps to minimise the impact.
Our first concern was to ensure the stability of our banking system. I am happy to inform the House that the Indian banking system is not directly exposed to the sub-prime mortgage assets. Their exposure to other problem assets is also minimal. Our banks, both in the public sector and in the private sector, are financially sound, well capitalised and well regulated. There should be no fear of a failure of any bank. In particular, I wish to assure depositors in our banks that their deposits are entirely safe.
Although our banks are safe, and they are also providing credit in line with anticipated credit targets, the global turmoil has led to a contraction in other forms of commercial credit. External commercial borrowings, which are used by the corporate sector have dried up, as have international suppliers credits. This has led to a reduction in overall credit availability in the economy even though credit from commercial banks has expanded satisfactorily. This contraction produced a liquidity crisis in the system.
We have taken a number of steps to address this problem. Between July 6, 2008 to October 15, 2008, the RBI cut the Cash Reserve Ratio by a total of 250 basis points. The SLR requirements were relaxed initially by 1 percentage point and subsequently an additional window of 0.5 percentage points was introduced specifically to enable banks to draw funds to provide liquidity to mutual funds.
As a result of these steps, the liquidity position in the financial system has improved considerably. The call money rate today is around 6.8 per cent.
Government also arranged to provide, in advance, a sum of Rs.25,000 crore to the banking system under the Debt Waiver and Debt Relief Scheme. The limit of investment by Foreign Institutional Investors in corporate bonds was increased from US$3 billion to US$6 billion.
Earlier today, the RBI announced a 100 basis points cut in the repo rate which is the rate at which banks can borrow against surplus SLR securities. Government welcomes this decision. It will have a beneficial effect on the interest rate structure and, in combination with the other steps to increase liquidity, will help to support economic activity and investment. It is broadly consistent with our objective to control inflation which has already begun to moderate.
I am happy to inform Honourable Members that the Wholesale Price Index has declined in the last three weeks and, although the current rate is still high, the movement in the level of prices shows a clear deceleration in the current momentum of inflation. We expect a further reduction in the Wholesale Price Index in the next two months.
The Government is conscious of the fact that it is not enough to infuse liquidity. The liquidity must translate into expanded flow of credit to industry, trade and business. Suitable advisories have been issued by the RBI and the Ministry of Finance to the banks to ensure that borrowers are provided adequate credit, including export credit and working capital. Banks must also provide adequate funds in the form of investment or credit to mutual funds and NBFCs who, in turn, lend to industry, trade and business. These institutions are an important part of the larger financial system and banks are being encouraged to provide liquidity to ensure that there is no disruption in economic activity.
Both RBI and Government are carefully monitoring the flow of credit and will ensure that the additional liquidity infused into the system translates into actual credit. We will not hesitate to do more if needed. While the capital adequacy ratios of all our banks are well above the Basel norm and above the RBI stipulated norm, Government has promised that it will help banks, which have lower ratios, to access funds to increase their Capital Risk Weighted Asset Ratio to 12 per cent.
The financial crisis and the economic slowdown in the developed countries is likely to have an indirect impact on the Indian economy. Fortunately, this effect will be on an underlying strong performance. GDP growth in the first quarter of 2008-09 was 7.9%. During April-August, 2008, exports increased, in dollar terms by 35.1 per cent. Foreign Direct Investment, during this period was US$14.8 billion. Gross tax revenues are on target.
The CMIE database shows that a huge amount of money towards capital expenditure is in the pipeline.
Nevertheless, we must be prepared for a temporary slowdown in the Indian economy. The precise impact is difficult to estimate at this point since the depth and duration of the global slowdown remain uncertain. Some estimates project GDP growth to decelerate to 7.5 per cent in the current year. The most pessimistic estimates place it at no less than 7 per cent. Our effort will be to minimise the negative effect of the financial crisis and, once the global situation stabilises, to return to the growth trajectory of 9 per cent. I would urge Honourable Members and the people of India to continue to repose faith in the fundamentals of the Indian economy.
Honourable Members will recall that, in anticipation of a slowdown, we had stepped up public expenditure in the Budget presented on February 29, 2008. Our expenditure proposals were criticised at the time in some quarters, but I am happy to note that it is now widely acknowledged that increased public expenditure is an important part of the solution. Our expenditure on education, health, NREGP, NRHM, AIBP, JNNURM and other programmes will, I believe, stand us in good stead in these difficult times. Besides, the debt waiver and debt relief amounting to Rs.65,000 crore to 3,60,00,000 farmers will also greatly benefit our farmers and enthuse them to increase production.
India has faced challenges in the past and has overcome them. We have the strength to overcome the current challenges too. In fact, it is when India is challenged that the Indian people rise to the occasion and convert the challenge into an opportunity. There is no place for fear. This is the time for unity of purpose and resolute action.
I seek the support of all sections of this House to the measures taken by Government and the authorities.”
( SOURCE: pib)
A NUMBER OF STEPS TAKEN TO ADDRESS THE PROBLEMS
--------------------------------------------------------------------------------
nEW dELHI 20.10.2008
17:19 IST
The Prime Minister, Dr. Manmohan Singh, has assured the depositors that their deposits in our banks is entirely safe. Making a suo motu statement in the Lok Sabha today, he said that the Indian banking system is not directly exposed to the sub-prime mortgage assets. “Their exposure to other problem assets is also minimal. Our banks, both in the public sector and in the private sector, are financially sound, well capitalised and well regulated. There should be no fear of a failure of any bank. In particular, I wish to assure depositors in our banks that their deposits are entirely safe,” the Prime minister added.
Dr. Singh further said that as a result of a number of steps taken to address the problems in India, the liquidity position in the financial system has improved considerably. He added that the Government has arranged to provide, in advance, a sum of Rs.25,000 crore to the Banking System under the Debt Waiver and Debt Relief Scheme. The limit of investment by Foreign Institutional Investors in corporate bonds was increased from US$3 billion to US$6 billion. The Prime Minister also informed the House that suitable advisories have been issued by the RBI and the Ministry of Finance to the banks to ensure that borrowers are provided adequate credit, including export credit and working capital. “Banks must also provide adequate funds in the form of investment or credit to mutual funds and NBFCs who, in turn, lend to industry, trade and business”, he added.
Following is the text of the suo motu statement made by the Prime Minister, Dr. Manmohan Singh in the Lok Sabha on the ongoing global financial crisis and its impact on India”
“I wish to make a statement on the ongoing global financial crisis and its impact on India . Honourable Members are aware that this crisis had its origins in the United States and spread quickly to Europe. While the crisis began in the housing mortgage market, it soon extended to the money market and the credit market. As a result, several financial institutions were pushed to the brink of insolvency. The US and some other developed countries have bailed out a number of financial institutions and banks. They have also taken a number of unconventional steps to infuse liquidity, recapitalize the banks and unfreeze the credit market.
The financial storm has shaken confidence in the system and precipitated a steep decline in stock markets.
It has produced a sharp slowdown in economic activity, with the prospect of a prolonged recession in industrialised countries. Many observers have described this as the worst crisis since the Great Depression of 1930s.
India, like other developing countries, is experiencing the ripple effects of the financial crisis. However, we have taken a number of steps to minimise the impact.
Our first concern was to ensure the stability of our banking system. I am happy to inform the House that the Indian banking system is not directly exposed to the sub-prime mortgage assets. Their exposure to other problem assets is also minimal. Our banks, both in the public sector and in the private sector, are financially sound, well capitalised and well regulated. There should be no fear of a failure of any bank. In particular, I wish to assure depositors in our banks that their deposits are entirely safe.
Although our banks are safe, and they are also providing credit in line with anticipated credit targets, the global turmoil has led to a contraction in other forms of commercial credit. External commercial borrowings, which are used by the corporate sector have dried up, as have international suppliers credits. This has led to a reduction in overall credit availability in the economy even though credit from commercial banks has expanded satisfactorily. This contraction produced a liquidity crisis in the system.
We have taken a number of steps to address this problem. Between July 6, 2008 to October 15, 2008, the RBI cut the Cash Reserve Ratio by a total of 250 basis points. The SLR requirements were relaxed initially by 1 percentage point and subsequently an additional window of 0.5 percentage points was introduced specifically to enable banks to draw funds to provide liquidity to mutual funds.
As a result of these steps, the liquidity position in the financial system has improved considerably. The call money rate today is around 6.8 per cent.
Government also arranged to provide, in advance, a sum of Rs.25,000 crore to the banking system under the Debt Waiver and Debt Relief Scheme. The limit of investment by Foreign Institutional Investors in corporate bonds was increased from US$3 billion to US$6 billion.
Earlier today, the RBI announced a 100 basis points cut in the repo rate which is the rate at which banks can borrow against surplus SLR securities. Government welcomes this decision. It will have a beneficial effect on the interest rate structure and, in combination with the other steps to increase liquidity, will help to support economic activity and investment. It is broadly consistent with our objective to control inflation which has already begun to moderate.
I am happy to inform Honourable Members that the Wholesale Price Index has declined in the last three weeks and, although the current rate is still high, the movement in the level of prices shows a clear deceleration in the current momentum of inflation. We expect a further reduction in the Wholesale Price Index in the next two months.
The Government is conscious of the fact that it is not enough to infuse liquidity. The liquidity must translate into expanded flow of credit to industry, trade and business. Suitable advisories have been issued by the RBI and the Ministry of Finance to the banks to ensure that borrowers are provided adequate credit, including export credit and working capital. Banks must also provide adequate funds in the form of investment or credit to mutual funds and NBFCs who, in turn, lend to industry, trade and business. These institutions are an important part of the larger financial system and banks are being encouraged to provide liquidity to ensure that there is no disruption in economic activity.
Both RBI and Government are carefully monitoring the flow of credit and will ensure that the additional liquidity infused into the system translates into actual credit. We will not hesitate to do more if needed. While the capital adequacy ratios of all our banks are well above the Basel norm and above the RBI stipulated norm, Government has promised that it will help banks, which have lower ratios, to access funds to increase their Capital Risk Weighted Asset Ratio to 12 per cent.
The financial crisis and the economic slowdown in the developed countries is likely to have an indirect impact on the Indian economy. Fortunately, this effect will be on an underlying strong performance. GDP growth in the first quarter of 2008-09 was 7.9%. During April-August, 2008, exports increased, in dollar terms by 35.1 per cent. Foreign Direct Investment, during this period was US$14.8 billion. Gross tax revenues are on target.
The CMIE database shows that a huge amount of money towards capital expenditure is in the pipeline.
Nevertheless, we must be prepared for a temporary slowdown in the Indian economy. The precise impact is difficult to estimate at this point since the depth and duration of the global slowdown remain uncertain. Some estimates project GDP growth to decelerate to 7.5 per cent in the current year. The most pessimistic estimates place it at no less than 7 per cent. Our effort will be to minimise the negative effect of the financial crisis and, once the global situation stabilises, to return to the growth trajectory of 9 per cent. I would urge Honourable Members and the people of India to continue to repose faith in the fundamentals of the Indian economy.
Honourable Members will recall that, in anticipation of a slowdown, we had stepped up public expenditure in the Budget presented on February 29, 2008. Our expenditure proposals were criticised at the time in some quarters, but I am happy to note that it is now widely acknowledged that increased public expenditure is an important part of the solution. Our expenditure on education, health, NREGP, NRHM, AIBP, JNNURM and other programmes will, I believe, stand us in good stead in these difficult times. Besides, the debt waiver and debt relief amounting to Rs.65,000 crore to 3,60,00,000 farmers will also greatly benefit our farmers and enthuse them to increase production.
India has faced challenges in the past and has overcome them. We have the strength to overcome the current challenges too. In fact, it is when India is challenged that the Indian people rise to the occasion and convert the challenge into an opportunity. There is no place for fear. This is the time for unity of purpose and resolute action.
I seek the support of all sections of this House to the measures taken by Government and the authorities.”
( SOURCE: pib)
Thursday, October 16, 2008
PAKYONG AIRPORT APPROVED BY CENTRE
Construction of a Greenfield Airport at Pakyong, Sikkim
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The Cabinet Committee on Economic Affairs today gave its approval for construction of a Greenfield Airport at Pakyong, about 35 kms from the State capital (Gangtok). The new Greenfield airport at Pakyong with 1700 mtrs. long runway and with two parking bays will be operational for ATR 72 type of Aircraft operation in fair weather condition. The Terminal building would be able to handle 100 passengers (50 arriving and 50 departing) at a time.
Sikkim is a land locked State with connectivity only by road. It is also one of the two States in the country which has no civil airport. The nearest airport is at Bagdogra (Defence airport with Civil Enclave). Due to hilly terrain and weather related problems, the road connectivity to Sikkim is frequently interrupted. The State also shares long international borders with Nepal, Bhutan, and China. Further, Sikkim has substantial tourism potential due to its scenic and natural beauty. As such, direct air connectivity to Sikkim is essential from socio-economic and strategic considerations. Besides, direct air connectivity would also promote tourism and other economic activities in the State.
sOURCE:pib)
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The Cabinet Committee on Economic Affairs today gave its approval for construction of a Greenfield Airport at Pakyong, about 35 kms from the State capital (Gangtok). The new Greenfield airport at Pakyong with 1700 mtrs. long runway and with two parking bays will be operational for ATR 72 type of Aircraft operation in fair weather condition. The Terminal building would be able to handle 100 passengers (50 arriving and 50 departing) at a time.
Sikkim is a land locked State with connectivity only by road. It is also one of the two States in the country which has no civil airport. The nearest airport is at Bagdogra (Defence airport with Civil Enclave). Due to hilly terrain and weather related problems, the road connectivity to Sikkim is frequently interrupted. The State also shares long international borders with Nepal, Bhutan, and China. Further, Sikkim has substantial tourism potential due to its scenic and natural beauty. As such, direct air connectivity to Sikkim is essential from socio-economic and strategic considerations. Besides, direct air connectivity would also promote tourism and other economic activities in the State.
sOURCE:pib)
Tuesday, September 30, 2008
LAST DATE OF FILING OF INCOME TAX RETURN EXTENDED
Last Date of filing of Income Tax Returns extended in Sikkim
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The Central Board of Direct Taxes have extended the last date of filing of income tax returns, due by 31st July 2008, to 31st October 2008 in the state of Sikkim in view of the delay in issuing of Instruction No.8/2008 in respect of filing of income-tax return by non-Sikkimese residing in that state.
(Source: PIB)BSC/SS/GN/242-08
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The Central Board of Direct Taxes have extended the last date of filing of income tax returns, due by 31st July 2008, to 31st October 2008 in the state of Sikkim in view of the delay in issuing of Instruction No.8/2008 in respect of filing of income-tax return by non-Sikkimese residing in that state.
(Source: PIB)BSC/SS/GN/242-08
Friday, September 26, 2008
NINE FM LAUNCHECD IN SIKKIM
Nine FM launches in Sikkim
Kolkata headquartered Chinar Circuits has launched its FM station Nine FM in Gangtok on 24 September, making it the first FM radio station in Sikkim.
Nine FM CEO Bobby Gupta announced the launch of the states's first FM station at a press conference in Gangtok on Thursday. The station will be broadcast on 91.9 FM MHz.
Addressing the press, Gupta said, "True to our motto “Your Song, Your Voice", all programmes of Nine FM will be highly interactive. Listeners will be encouraged to call in live or write in through e-mail and SMS to share their views on different topics. Nine FM will also provide the opportunity to the common people of Sikkim to place their requests to listen to their favorite songs, which they want to listen or dedicate to their loved ones."
"Nine has put together the largest ever collection of Nepali music. We also have compiled a large gallery of English and Hindi music," he added.
The broadcast and production facilities at Nine FM have been designed and installed by Clyde Broadcast, Glasgow, UK and the transmission equipment has been procured from Harris Corporation, Quincy, USA. The station has installed dedicated software for scheduling of music, sequencing and playing out.
Chinar circuit started its ground activity for Nine FM a month ago to build awareness around the brnad. It had recently started ‘The Nine Freedom Rock tour 08' in collaboration with the Sikkim State Aids Control Society on 17 August in the Sikkim capital in the presence of known personalities of Sikkim.
The station launched teasers in the Sikkim Manipal University, to reach out to the target audience.
Among the other stations poised for a Gangtok launch are SFM and Radio Misty.
Kolkata headquartered Chinar Circuits has launched its FM station Nine FM in Gangtok on 24 September, making it the first FM radio station in Sikkim.
Nine FM CEO Bobby Gupta announced the launch of the states's first FM station at a press conference in Gangtok on Thursday. The station will be broadcast on 91.9 FM MHz.
Addressing the press, Gupta said, "True to our motto “Your Song, Your Voice", all programmes of Nine FM will be highly interactive. Listeners will be encouraged to call in live or write in through e-mail and SMS to share their views on different topics. Nine FM will also provide the opportunity to the common people of Sikkim to place their requests to listen to their favorite songs, which they want to listen or dedicate to their loved ones."
"Nine has put together the largest ever collection of Nepali music. We also have compiled a large gallery of English and Hindi music," he added.
The broadcast and production facilities at Nine FM have been designed and installed by Clyde Broadcast, Glasgow, UK and the transmission equipment has been procured from Harris Corporation, Quincy, USA. The station has installed dedicated software for scheduling of music, sequencing and playing out.
Chinar circuit started its ground activity for Nine FM a month ago to build awareness around the brnad. It had recently started ‘The Nine Freedom Rock tour 08' in collaboration with the Sikkim State Aids Control Society on 17 August in the Sikkim capital in the presence of known personalities of Sikkim.
The station launched teasers in the Sikkim Manipal University, to reach out to the target audience.
Among the other stations poised for a Gangtok launch are SFM and Radio Misty.
CHAMBER THANKS BUSINESS COMMUNITY FOR SUCCESSFUL BLACK BAND PROTEST ON INCOME TAX IN SIKKIM
Chamber of Commerce thanks members for supporting ‘black band protest’
Sikkim Express Report
GANGTOK, September 25: The executive committee of Sikkim Chamber of Commerce (SCS) has thanked all the business establishments and individuals from all over Sikkim for having made the phase II of the protest on Direct Taxes, a grand success.
The Protest was observed all over the State on September 14 and 25 by the entire business communities by wearing ‘black bands on arms and display of protest and demand posters’ in their business premises.
SCS general secretary Suresh Agarwal in a press release said that the protest was orderly, smooth and peaceful.
Sikkim Express Report
GANGTOK, September 25: The executive committee of Sikkim Chamber of Commerce (SCS) has thanked all the business establishments and individuals from all over Sikkim for having made the phase II of the protest on Direct Taxes, a grand success.
The Protest was observed all over the State on September 14 and 25 by the entire business communities by wearing ‘black bands on arms and display of protest and demand posters’ in their business premises.
SCS general secretary Suresh Agarwal in a press release said that the protest was orderly, smooth and peaceful.
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