PCs TO BE DEARER AS INTEL'S CELERON, P-II ATTRACT DUTY

Article Abstract:

Prices of personal computers (PCs) will increase by Rs4,000-5,000 for the Pentium II as the chips of Celeron and P-II have been classified as populated PCBs (printed circuit boards) and not microprocessors. The chips will also attract a special import licence at a premium of 5-8 percent. The national IT Task Force has recommended a review of the tariff and grant of concessions to bring forth a national IT awareness and increase the sales of PCs. Meanwhile, the customs duty will be 20 percent, CVD 13 percent, Special duty 5 percent and special additional duty 4 percent. Several consumer forums have voiced concern over the current duty exemptions being absorbed by companies without passing on the benefits to customers. (nr)

Computers, Electronic Computer Manufacturing, Market information - general, Commodity & service prices

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GOVT CROSSES WMA LIMIT OF Rs7,000 CR

Article Abstract:

The Government of India has crossed the limit of Rs7,000 crore advances under the Ways and Means Advances Account for the second half of 1998-99. Ways and Means Advances Account is an overdraft facility offered by the Reserve Bank of India to the government. The advances have reached Rs7,765 crore on March 12, 1999. According to an agreement between RBI and the government, if the government crosses the limit for more than 10 days, a higher interest rate will be charged on the excess amount. (um)(vr)

Government expenditures, Central Bank & Govt Reserves, Reserve Bank of India

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