Category Archives: Business
ONGC to restart their oil exploration at Cochin
According to the reports from ONGC, they are keen on restarting the oil exploration in Arabian sea near Kochi. At first they are planning to start drilling of three oil wells. ONGC had previously done drilling in Kochi from August to December last year. Sources say that ONGC got some information about the oil reserves in the area from the last exploration. ONGC had done drilling for about 6000 meters last time. This time they were planning to drill beyond 6000 meters. The drilling is likely to be concentrated on the more older rocks than the previous time. According to the sources the preliminary project work for the exploration is done by Mr. D.K.Pandey before recently retiring from his service. According to Mr.D.K.Pandey ,the chemical analysis report from last exploration give a clear indication about the availability of petroleum and natural resources in that area. According to his expert advise they should least start drilling at three rigs in the new exploration. Acording to the reports, the drilling rigs will be at the kochi-kongan coast between cochin and Mangalapuram. Last year it was about 70 nautical miles from Cochin using Realiance Drilling Platform which has a daily rental rate of Rs 4cr. The same Drilling platform is most likely to be used in the new exploration.
Aircel to Launch 3G Services in Kerala
Aircel is planning to launch its 3G services in Kerala likely to be at the middle of this month, March. Aircel’s National Operations Head Mr Vipul Saurab and company’s Southern Operations Head Mr K.V.P. Basker said on yesterday that they will launch their 3G services in 10 cities and 375 base stations around Kerala. Out of the thirteen 3G circles. Aircel have license to provide the service in three circles all around India. Mr Vipul Saurab on yesterday said that they are able to provide the services around the middle of this month on all their three circles. They are expecting that about 10% of their customers will start using this facility. Aircel has about 20 lakhs customers in Kerala and a total of 5.5 cr customers in India. The company is expecting an increase of 20% to 25% growth in later months in 3G users. The company also has wireless broadband license in eight circles around the country. The company finds great scope in providing internet, tv and videos through 3G. BSNL and Tata Docomo already started the 3G service in kerala.
India Union BUDGET 2011-2012 Highlights
Pranab Mukarjee
- Direct subsidies will be provided for below poverty line customers in vegetable oil and kerosine.
- Income tax level to be increased from Rs 1,60,000 to Rs 1,80,000.
- It is increased to 5 lakhs for senior citizen aged above 80 .
- Overall economic growth is expected to be about 8.6%.
- Pranab says inflation is a major issue.
- Agriculture sector improved which has a growth of 5.4 %.
- Industrial growth is expected to be 8.1% and service is 9.3%.
- India has overcome economic deformation.
- Pranab says drift between whole sale and retail rates is unacceptable.
- Food inflation is reduced to 9.3%.
- Pranab to introduce Public Debt Management Bill in 2011
- Indian to increase direct overseas investment.
- Government to provide Rs 4,75,000 cores loans for farmers.
- Special revenue subsidy to be provided for kerosine and fertilizers.
- NABARD will get 10,000 cores for providing loans in short term credits.
- Government to increase infrastructure fund by 23%.
- Rs 100 cr for micro financial companies.
- Government will start food security scheme this year. Rs 1,60,887 cr will be provided for this scheme.
- 500 cr to be provided for women development.
- 500 cr will be provide for banks which gives loans for small scale industries.
- 300 cr allocated for increasing milk production.
- Government will start 15 mega food parks.
- The salary of ‘anganwady’ officers will be increased to 3000 per month.
- 8,000 cr special package for Kashmir.
- 1.6 lakhs cr for social welfare projects.
- Rs 300 cr for oil palm sector.
- The limit for House loan is increased from 20 lakhs to 25 lakhs.
- Kerala state get Rs 50 cr for Aligarh Muslim University and Rs 100 cr for Veterinary University.
What is Stock market and its possibilities
Stock market and its possibilities
What is Stock Market? Stock Market is a place where Stocks, Bonds and Derivatives are traded. A Stock Market may or may not be a public company. It’s a place where the individual investor can spend their money in good companies. By that we will become the shareholders of these companies and will be able to taste the gain or loss made by the company. If the company performs well, you will get value appreciation of those shares. Thus you will make profit. In case company goes to losses, you will suffer the value depreciation of those shares. Thus you will suffer loss.
What a smart investor should do?
A smart investor should understand well about the functioning of stock market. He should find good companies to invest. Good stocks will give good returns in long term may be in medium term. But a smart investor should have a long term vision to make his financial ambitions a reality.
Can you become rich?
Of course, you can become rich by investing your surplus money in the growth of businesses in India. Stock markets give you the opportunity to buy stake in different companies. Thus you will become one of the owner of the company. You know how Mukesh ambani and Sunil Mital become rich? Its because of the shares they held. Thats the power of equity.
Be the part of Indian economy
We have heard about the GDP in India grows at 10%. It does not beneficial for the common Indians if they are staying away from the capital market. The only solution is to get into the market. Thus you can make wealth. It should not be considered as a parallel way to create wealth.
How much money you can make by investing in the Indian stock market?
Lets find that how some blue chip companies gave excellent returns in the last five years.
| stock | Invested amount in Feb 16,2006 | Current value |
| Manappuram finance | 100000 | 18 crore* |
| unitech | 100000 | 4 crore* |
*approximate value
Prime Minister’s visit to kerala
- Dr. Manmohan Singh
Prime Minister, Dr. Manmohan Singh will inaugurate the largest single operator container terminal in the country the Vallarpadam Container terminal. It was Manmohan Singh himself who had laid the foundation stone in 2005. The new port will be privately operated by the Dubai port world. It is the first port the country to operate in a SEZ.
VallarPadam terminal will make Kochi a key place in the shipping world and it will reduce India’s dependency on foreign ports, over forty to forty five percentage of India’s containerized cargo is trans-shipped through Singapore, Dubai or Colombo.
The Dubai Port World is granted a 38-year contract for the management and exclusive operation. The port costs more than 3,000 corers and is expected to bring this money back through Shipping. The terminal is able to handle large container vessels and can
handle 1m twenty-feet containers a year.
Vallarpadam will be completed in 3 phases. 1: 600m quay and a water-depth greater than 15 m(this phase is complete). 2:Capacity will be increased to 1.5 million Twenty Feet Equivalent Units. Once fully operational the capacity will increase to 5.5 million.
Dr. Manmohan Singh will inaugurate the port in February 10. After that he will will go to Trivandrum on a special flight. At4 pm he
willat the Gov. woman’s college. Next he will go and inaugurate the Kerala Vikasana Congress organized by KPCC.
His schedule for 12th of February is like this.
10.00 am: 70th anniversary of Kerala sahithya academy
10.45 am: Visiting Brahmos
11.25: Inaugurating the new terminal of Trivandrum air port.
12.10: Return to Delhi
Kerala Budget 2011 – 2012 Highlights
Kerala Budget Presentation 2011 – 2012
The last budget of the current VS Achuthanandan Government
Budget Presentation by the Kerala Finance Minister Dr. Thomas Issac
Special Package for Road Development
Rs: 250 Crores for Thiruvananthapuram
Rs: 120 Crores for Kollam
Rs: 142 Crores for Trissur
Rs: 202 Crores for Ernakulam
Rs: 180 Crores for Kozhikode
Avoiding the rental for electricity meter.
five public sector under takings will be taken.
There will be special package for road development.
There will be IT parks in cherthala and koratty.
Tourism will get 6 crores.
Chavara HNL will produce titanium.
Special study center in CET trivandrum.
Nadapuram will get modern health park.
for land acquring it parks will get 102 crores.
Vizhinjam terminal will get 100 crores.
Cherthala and koratty will get IT parks.
Kozhikodu Air port will get 25 crores for land acquring.
For the renovation of sate high ways 25 crores will be given.
For renovating water ways 95 crores will bet given.
35 roads will be developed.
250 crores Trivandrum package.
Road: 120 crores kollam pakage.
Kshema pension will be 400 rs per person.
Kochi metro will get 156 crores.
Traffic jam in Towns will be reduced.
For the endosulphan victims 20 crores.
For anganvadi worker the state share will be 1000rs.
for the handicapped the pension will be 400rs.
2rs rice for 5 lakh families more.
To reduce price hike in commodities 100 crores will be saved.
3000 ration shops will come under supply co.
for Casunut factories 52 crores will be given.
coir sector will get 80 crores.
for police station renovation 5 crores will be given.
Small scale industry sector will get 40 crore.
Hand loom sector will get 52 crores.
For woman development schemes 770 crores will be given.
300rs kerosene kit for 150 rs.
for sc/st house development 125 crores.
If rail way allows lady police in ladies compartment.
Islamic bank albarak will be started.
Cancer suraksha fund 2.5 crores.
Protecting
for coconut cultivation 30 crores.
Urinals for ladies in public places.
Free cloths for schools who change to handloom uniform.
For insuring the new born 10000 crores.
Travancore rions will be renovated.
Museums will get 1 crore.
Kannooor air port will get 10 crores.
Self employment scheme of 1.5 crores for widows and divorces.
Consumer fed will get 50 crores.
For renovation of seetha ram mills 20 crores.
Malabar spinning and weaving will develop a hand loom factory costing 15 crores.
12 crores for gas line.
for thankaserry port development 160 crores.
for ponnani port development 761 crores.
Approval fro two new state highways.
Grativity for dinesh beedi workers.
Financial support for liver and heart treatment for children.
Health sector will get 250 crores.
2296 crores for higher education sector.
REC to get 25 crores.
Medical colleges to get 10 crores.
Kinfra parks 67 crores.
Multiplexes to get tax concession for the first five years.
82 crores for arts and cultural centers.
emergency ambulance service in pamaba.
478 crores for the development of atuukal temple.
Drinking water (erumeli ) to get 8 crores.
4 crores for the computerization of registration department.
3 coastal police stations.
Fly over for sabarimala darsanam.
For sabarimala master plan first phase 100 crores.
KSRTC to get 100 crores.
Kudumbasree to get 100 crores.
Sivagiri convention center to get 1 crore.
Police department to get 32 crores.
Kochi terminal to get 5 crores.
5 crores for solving traffic jam in kochi.
For hunger less city 4 crores.
For completing japan drinking water project 400 crores.
10 new iti.
Increased the medical college junior doctor stipend to 23000.
Kochi kinfra to get an exhibition center of 400 crores.
Alapuzha to get TV thomas memorial hospital of 1 crore.
Ladies only bus for students , 6 crores.
one crores cfl lamps will be given next year.
50 colleges to get new courses.
To conduct film festivals in chitranjali studio compound 50 lakhs.
Family court in irinjalakuda
2 labs of liquor testing.
Metros to get KSFE branches.
Health projects for pentioners
Unmarried woman over 40yrs old to get pention.
Kasarkodu national unversity to get 22 crores.
For malayalam development universities 10 crores.
Development in science and development 22 crores.
kalamandalam to get 6 crores.
Malapuram press club to get 15 crores.
Journalists to get a pention of 4000 rs.
for higher education of children in orphnage scholarship.
No tax for pooja dravyankal sold near temples.
KTDC hotels in alpuzha and kozhikodu to get 5 crores.
Balasahithya institute to get 1 crores.
50 new check dams will be built.
KMML camp to get mineral research unit
Vizhinjam project will be completed in two installment
Spice root projet to get 5 crores for the first installment.
mercykutty academy to get 25 lakhs
Moinkutty vaidyar memorila award 50 lakhs.
for renvation of national games stadium 120 crores.
Sports council to get 12 crores.
Vetrinary and medical universities to get 30 crores.
Agricultural universiyt ti get 45 crores
Kochi university to get 12 crores.
Jaiva krishi to get 5 crores.
For buliding bund in kuttanadu 75 crores.
Haritha fund to get 100 crores more.
All field staff in forest department to get mobile phone.
Night shelters will be built for woman.
Barbar kshemanidi tio get 1 crore.
For treatment of children with terminal dieses 6 crores will be given.
Commision hike for ration shop owners.
Kshema padhathi for nurses in private hospitals
Share for asha voluteers increased to 300rs.
for workers for other states 10 crores.
For treatment of children with hearing problems 2 crores.
special project for cheffs.
Alapuzha master plan to get 10 crores.
Kodungaloor town museum to get crores.
For develoment of 10 state high ways 1920 crores.
Big increase in Kerala State’s Revenue – Economic Survey Report
The Economic Survey Report of Kerala State for the year 2010-11 submitted on the State Legislative Assembly Desk. As per the report, the revenue of the state showed a good increase on the revenue. The revenue is increased to 19.42%. On the previous year, it was 6.52% only. The growth rate of the public debt is decreased near to 2% but the public debt is increased than the previous year.
The public debt for the year 2010 is Rs:70,969 Crores. The Economic state of the State is is increased to 9.89% as per the report. The internal production of the State is increased 9.89% to Rs:1,59,143.62 Crores. the entire state debt is increased to Rs: 70,969 Crores. Total debt of last year was Rs: 20,176.10 Crores. The Tax revenue for the year 2009-10 was Rs: 17,625.02 crores. As per the predictions, the previous Budget was expected Rs: 20,884.23 Crores for the year 2010-11.
The Economic Survey is presented as part of the Kerala State Budget on tomorrow. The Business world is expecting a good budget from the Finance Minister Dr. Thomas Issac.
