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Foreign trawlers released after 46 days of detention

Chennai, Feb 28 (UNI) After 46 days of detention for want of documents at the Cuddalore port, two foreign fishing trawlers were released after getting necessary approval from the Ministry concerned, last evening.

Coast Guard IG Rajendra Singh told UNI here today that the trawlers, said to be belonging to Singapore or Philippines, had entered the Indian waters and were detained in the port.

But due to want of some documents and completion of certain formalities, the vessels and the crew, were detained.

''After getting the approval from the Ministry, we have released the trawlers yesterday'', Mr Singh said.

The trawlers left for Colombo for some repair works, from where they would go to their destination.

UNI

Ad valorem on petrol and diesel reduced from 8 to 6 per cent

New Delhi, Feb 28 (UNI) Finance Minister P Chidambaram today proposed to reduce the ad valorem component of Excise Duty on petrol and diesel from 8 per cent to 6 per cent. Presenting the General Budget 2007-08 in the Lok Sabha, the Minister proposed to grant relief from excise duty in deserving cases especially the job creating sectors. He also raised the exemption limit for small scale industry from Rs one crore to 1.5 crore; biscuits whose retail sale price does.....

Total revenue receipts expected to be Rs 486,422 crore

New Delhi, Feb 28 (UNI) The total revenue receipts of the Central Government is estimated to be Rs 486,422 crore and the revenue expenditure at Rs 557,900 crore, Finance Minister P Chidambaram said while presenting the 2007-08 budget proposal in the Lok Sabha today. Mr Chidambaram said the revenue deficit is estimated at Rs 71,478 crore, which is 1.5 per cent of GDP. The fiscal deficit is estimated at Rs 150,948 crore, which is 3.3 per cent of GDP. The Finance.....

Tax holiday for undertakings in J

New Delhi, Feb 28 (UNI) Finance Minister P Chidambaram today extended the tax holiday for undertakings in Jammu and Kashmir by another five years upto March 31,2012. The step is aimed at promoting further investment in the state, Mr Chidambaram said while presenting the 2007-08 Budget in the Lok Sabha. Cross country natural gas distribution network, including gas pipeline and storage facility integrated to the network, and navigation channel in the sea have been included in list of infrastructure facilities that.....
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