SEZ Policy changes may hurt developers
So, the tussle between the Ministry of commerce and Finance is getting to the throat of the SEZ developers. The Finance ministry has challenged the criterion for the selection of the developers of the Special Economic Zones (SEZ’s). The government would have to rewrite the SEZ policy and all approvals would need a fresh look, if the finance ministry’s latest proposal is accepted. The finance ministry has also said that a policy framework would be desirable in order to counter charges of discrimination, even for the current lot.
Our Review : In case the proposal of the Finance Ministry is accepted, there will be a definite downfall in the real estate market and specially the developers who have already purchased the Real Estate in their concerned states will have to face a huge loss. What we personally feel that the problem with the finance ministry is that, they will not get anything out of these special processing zones. Most of the incentives that are given in the SEZ are against the Finance ministry. But the point is that, these SEZ, whenever operational will give a great push to the economy of the country and especially where the overseas multination companies will seek permission to set up there units here in India, will give the country a good amount of foreign exchange. Many industrial sectors, like textiles, which are facing problem with the Chinese goods into the market will defiantly have a chance to rise in the overseas market.
Reliance Retail: First store in Hyderabad in September
With the mega 25000 crore project in the news from June onwards this year, the company has now announced to open its first store in the Hi-tech city of Hyderabad. The store will be a specialty store of vegetable and food. “We will be opening our first store in Hyderabad in September and this will be a very large store with food, vegetables and staples,” Reliance Retail president and chief executive (operations and strategy) Raghu Pillai said.
The company was in news with the governments and cooperative chains for alliances in the sector. There was a news some days back that the Reliance is looking for real estate in different states. The company had plans to spread to other parts of the country soon, though refusing to divulge details on the number of stores it hoped to close this fiscal year with.
Our Review: With growing retail sector in the country and specially the ongoing foreign investments in the retail sector, the future of this sector is definitely bright. With Reliance getting into this sector with a blast, it is definitely going to hurt the existing big B’s like Vishal Megamart, Super Bazaars and Big Bazaars.
Reliance Infocomm giving faulty phone bills!!!
Its in the news that the consumer court has issued notice to Reliance Communications Limited’s chairman Anil Ambani to appear personally in connection with a complaint by a subscriber who alleged his telephone was deactivated illegally. He has to appear in court on 30th August this year.
Trilok Chand, a Lawrence Road resident, who complained of getting inflated bills and imposition of a number of additional charges in the bill. He had opted for the Khazana scheme offered by the company in 2003 and soon after he noticed that even an unmatured call - in which a number was dialled but the called person did not pick up the phone - was being billed.
Our Review : After the Reliance Handsets its time that now we’ll have to check our bills thoroughly every time I get it. Can it be true that the company is charging the customers even if the call is not picked up???
