NPPA cuts drug prices by 2.84%

NEW DELHI: Drug price regulator National Pharmaceutical Pricing Authority (NPPA) has cut by 2.84% prices of all scheduled drugs on account of reduction in Cenvat and asked manufacturers to follow the suit.

"The reduction in the equivalent maximum retail prices shall take effect immediately," it said. "All manufacturers are required to reduce the equivalent maximum retail prices (inclusive of excise duty and all taxes) by 2.84%," it added. Reduction in prices would not apply on manufacturing units in excise-free zones such as Uttaranchal, Himachal Pradesh and J&K.

Source: http://timesofindia.indiatimes.com/Business/India_Business/Worlds_1st_energy_mkt_in_India/articleshow/3830571.cms

Administrative charge on 3G players to be discussed by Telecom Panel

The Department of Telecom on December 19 will consider adopting the proposal of TRAI for levying 2 percent administrative charge from 3G players.

"Telecom Commission will discuss the TRAI proposal on administrative charge on December 19. Worldwide there are charges like this. But there is also a spectrum charge of 3 per cent.

"We have to see if this could put a burden on the prospective bidders", Siddhartha Behura, Telecom Secretary said here on the sidelines of India Telecom here.

TRAI on Wednesday proposed that companies successful in their 3G bids pay 2 per cent of the highest bid amount annually as administrative charges for utilizing radio frequencies. It has proposed for standalone 3G players and new entrants who want to enter the Indian market via the 3G route, share an additional 3 per cent of their annual gross revenues with the government.

Car sales worst in 8 years, dip 19 per cent

Date : Dec-12-2008 13:34 Automakers are in fears of a complete slowdown as auto sales decelerated further in November. According to the Society of Indian Automobile Manufacturers (SIAM) monthly data released on December 10, sale of popular cars fell 19.38 per cent to 83,059 vehicles from 1.03 lakh vehicles during the same month last year.

Sales of all vehicles reported a bigger fall in November than in the previous month due to the high interest rate and credit crises, seen as the worst month for the auto industry in eight years. The industry sold 7.11 lakh vehicles in November against 8.67 lakh vehicles in the same month last year, a drop of 18 per cent.

As per SIAM data, 8 of the 13 carmakers have posted negative sales previous month. Maruti Suzuki, the largest car maker, has posted a 36 per cent drop in car sales to 43,258 vehicles as Hyundai Motors has reported a 23 per cent fall to 14,601 vehicles Automakers are forced to cut production due to slowdown to adjust with the market situations.

The overall drop in sales reported from all types of vehicles but mainly led by commercial vehicle that declined 49.52 per cent to 20,637 vehicles in November from 40,879 vehicles last year. Two-wheeler sales also slipped 14.68 per cent to 5.67 lakh vehicles from 6.65 lakh vehicles in the same month last year. Motorcycle sales that form 85 per cent of the total two-wheeler segment declined 20.24 per cent to 4.31 lakh vehicles against 5.40 lakh vehicles last year.

Industry is now banking on the economic package announced by the government to revitalize its fates. Excise on all vehicles was cut by 4 per cent following which car companies reduced prices hoping for some rise in demand.

Industrial output shrinks for first time in 15 years

India''s industrial output slipped into the negative territory for the first time since 1993. The industrial production growth in October fell into the negative territory, indicating a sharper slowdown in the economy. The Index of Industrial Production in October posted a negative growth of 0.4 per cent, from positive growth of 5.45 per cent in September and 12.2 per cent in October 2007. The manufacturing output, which accounts for 80 per cent of the index, in October is down 1.2 per cent in the negative as against 13.8 per cent positive growth a year earlier.

Earlier this month, the government sought to rescue manufacturers by announcing an across-the-board (barring petroleum goods) 4 per cent cut in excise duty. Electricity sector grew by 4.4 per cent during the month, bettering 4.2 per cent output of the year-ago period, while mining sector grew by a slower 2.8 per cent against 5.1 per cent in the previous year''s comparable period.