Platinum Girl - Shriya Saran

Feeling a bit miffed at all the media coverage about Nayantara's move to Bollywood, rival southern belle Shriya Saran has announced, "If Nayantara is like gold, I am like platinum. I have no competitor. I have gone not just to Bollywood, but I have also been part of English films too. That's why I say I have no comparison."
Shriya is currently working hard in the innovative Malayalam film industry in Kerala known colloquially as Mollywood. Her current movie list includes Jaggubhai, Chikku Bhukku, Mallanna and the Tamil movie Kutty. In Mallanna (Kanthaswamy) with Vikram, she wears a short, sexy bob hairstyle and takes on a negative role. Is this of concern to her? "It's not an entirely negative role but has a few grey shades to it," she says, "Of course, I had my doubts, but gradually my apprehensions faded away as the role shaped up convincingly."
Shriya's Kollywood movie Kutty sees an interesting shift in direction for her. She has shed her glam image for the movie which involves her exploring her acting talents opposite Dhanush. This is a trend that she hopes to develop further in future movies. The film also features an item number from Meghna Naidu.

Aam aadmi's income may double in 10 yrs: FM

Last year the Economic Survey declared that India had moved into the East Asian growth trajectory. The FM settles all debate this time by saying that the economy has moved decisively to a higher growth phase. The Survey continues to emphasise what it did last time - managing macro-economic growth even while containing inflation. It remains sanguine about economic growth even in the face of a slowing US and global economy and notes that the economy is likely to remain domestic demand driven in the medium term. Even while the Survey talks of effective delivery systems at the state and the local level, it remains to be seen how the budget addresses the issue of effective delivery and of managing and measuring outcomes. This time, it latches on to Per Capita Income and Investment to perhaps make the point that the high GDP growth has trickled down to the Aam Aadmi . It proudly notes that the rate of growth of per capita income has sharply climbed to 7.2% per annum - implying that average income of the Aam Aadmi can virtually double in a decade. It also points that out private final consumption expenditure at per person level is up and so are the saving rates. Interestingly, it also points to the limited capability of state governments to deliver goods and services to people. It suggests a Smart Card based System to enhance the delivery and efficiency of government schemes such as NREGA, Public Distribution System etc. The management of supply is also being viewed as a critical aspect for inflation management. The Eco Survey also indicates that the targets for revenue and fiscal deficits for the year 2007-08 appear well within reach. But, it also strikes a cautionary note by saying that the current revenue buoyancy is riding on the performance of an economy more globalised than before. Thus, global developments that have a bearing on India's domestic economy would need to be watched. It also applauds the move by 26 states to a rule based programme for fiscal reforms. On Inflation, the survey notes that the change in the structure of the economy has made inflation management a more complex task. It mentions that monetary policy mechanisms - particularly to tackle inflation arising of capital inflows-have become important. Even while it acknowledges that agricultural import tariffs remain high, it is unlikely to do much to reduce these rates in an election year, particularly when a sensitive constituency like agriculture needs to be addressed. It sees agriculture as an important sector to push GDP growth upwards and to make growth more inclusive and biased in favour of women. It also sees higher farm incomes providing equitable growth. Even here, it stresses on the need to build outcome oriented perspective in the implementation of public programmes. Increasing productivity in the face of limited area of cultivation is important, it says. It expects capital inflows as a proportion of GDP to decline, but, feels that the decline will be modest but enough to take the pressure on reserve accumulation and exchange rate appreciation. It sees the country continuing to attract significant cross-border portfolio inflows as India is expected to continue to remain a relatively attractive investment destination. It notes the importance of insurance and pension funds for both the equity and the debt markets and hints at further initiatives to expand and deepen both the Government Securities and the Corporate Bond markets. It also sees the debt markets as a critical financing mechanism for the infrastructure sector. Even while it expects pressure on the rupee to weaken, the Survey is not optimistic about exports on account of world GDP and world imports. It says that the outlook for exports in the year 2008-09 is not as bright as it was in the years before. Policy changes and relief measures for export oriented sectors can be expected. Employment is a key area of focus for the UPA government; its flagship NREAGA programme is meant to address precisely this issue. The survey notes that while employment growth actually rose to 2.62% per annum in the period 1999-2000 to 2004-05, unemployment actually rose as an absolute measure on account of a faster increase in the labour force. The share of agriculture in total employment is still declining. Expect the government to latch on to this statistic to further spread the NREGA and other employment initiatives in the budget tomorrow. The survey also points out an improvement in important social indicators but stresses on the need for better governance and improved service delivery at the local level.

Angelina Jolie shows off baby bump

London (ANI): Angelina Jolie let her body do the talking when it came to telling the world she is pregnant for the second time when she showed off her baby bump at the 2008 Film Independent Spirit Awards in Santa Monica, California on Feb 23.The stunning actress fuelled speculation she is pregnant with her and partner Brad Pitt's baby last month, when she started wearing loose-fitting dresses at many of her recent public appearances and staying away from alcohol. According to the Sun, the actress left no one in doubt that the stork will soon be visiting her and partner Pitt when she donned a tight black dress - clearly displaying her growing belly.
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However, the 'Mr. & Mrs. Smith' pair has yet to confirm rumours that they are expecting. Pitt and Jolie already have 4 kids in their family, Maddox, 6, Pax, 4, Zahara, 3, and Shiloh, 1. Their adoption of Pax was made official only last week.

Trial production of Nano by July: Kant

SINGUR: Trial production of Tata Motors' Rs one lakh wonder 'Nano', which was unveiled at the auto-expo in the national capital last month, would start in June or July, a top company official said on Wednesday. Tata Motors managing director Ravi Kant, who was here to review the progress of the construction of the factory along with other senior officials of the company, told reporters, "we are happy with the progress.... Trial production of the small car would start in June or July."

Loans to get cheaper as SBI cuts rate again

MUMBAI: There is good news for people repaying home loans. After going up for months, EMIs are set to come down. This follows a decision by four public sector banks, led by SBI, to cut their prime lending rates further by 0.25% to 0.50%. This means that people looking for fresh home and car loans can bargain for a better deal. The move, the second in less than 10 days, is also expected to make borrowing cheaper for businesses and spur economic growth. The decision follows a closed-door discussion held by the four banks last Saturday. SBI’s new PLR will be 12.25%, effective from February 27. Canara Bank, Bank of India and Union Bank have all pared their PLRs to 12.75%. According to industry analysts, this move was inevitable. Over the last couple of quarters, bank lending had dropped considerably after RBI raised interest rates in an attempt to contain inflation. The credit-to-deposit ratio, which was at a high of 90%, is now 55%. With borrowers shying away, banks are flush with funds. Bankers would like to have people and businesses borrow more because that will help the economy grow. Which is why, on January 29, while announcing the quarterly monetary policy review, the RBI governor had asked bankers to explore the possibility of reducing interest rates.

All ATM services to be free from April 2009

NEW DELHI: The levies of Rs 20 for using third-party ATMs to avail of services other than balance enquiry or cash withdrawals, are proposed to be eliminated from April next year, the central bank said. At present, banks charge up to Rs 57 per transaction for using ATMs of other banks. While Rs 25-30 per cash withdrawal is the norm, a balance enquiry at an ATM other than your bank’s can cost Rs 10-15 every time you click on the button. On their part, banks pay between Rs 18 and Rs 31 to the other bank whose ATM was accessed by its account holder. With the prospect of an easy revenue stream vanishing, banks have come up with various arguments against RBI’s proposal. While some suggested a fixed number of free withdrawals during a quarter or a month — which could either be prescribed by Reserve Bank of India or left to individual banks — at least two players wanted nominal levies. On its part, the industry lobby, Indian Banks Association, said that the availability of free ATM services could lead to an increase in the number of transactions and lower withdrawal amounts. So, it has suggested, that there should be only two free monthly transactions. In the metros, it wants minimum withdrawal limit be hiked to Rs 500 besides capping the number of times you can check your account balance.

Tata to take Nano to Europe in 4 years: Report

FRANKFURT: Tata Motors plans to introduce its ultra-cheap Nano car to the European market in four years' time, the head of compact car projects at Tata Motors told German magazine Focus. "We will develop a successor model in four years time, which will meet the Euro 5 emission regulations and the crash standards in Europe," Girish Wagh was quoted as saying by Focus in an advance abstract on Sunday. The main target was to reduce the car's fuel consumption to three from currently five litres per 100 kilometres (62.5 miles), Wagh told the magazine. Tata Motors unveiled the $2,500 Nano, the world's cheapest car, in January and said the new four-seater would roll out later in the year from its factory in West Bengal. Tata has said it will initially produce about 250,000 Nanos and expects eventual annual demand of 1 million units. Tata has said it would focus on the home market for two to three years before considering exporting the Nano to countries in Africa, Latin America and Southeast Asia. Global car makers, initially sceptical that Tata could produce such a low-cost car, are now scurrying to make their own versions to meet the needs of cost-conscious consumers in emerging economies such as China, India and Russia.
General Motor's Opel unit plans to develop a small car for 8,000 euros ($11,590), the head of Opel, Hans Demant, told Germany's auto, motor und sport magazine in an advanced copy on Saturday. A decision could be made next year, he said. "The Opel citycar is a vehicle for the coming decade," he said. Ford said in January it would build a small car in India within two years, and the alliance of Nissan Motor and Renault, which has made a big success of its no-frills Logan sedan, plans a $3,000 car with Bajaj Auto. Volkswagen, Toyota, Honda Motor and Fiat have also said they are looking at small cars for emerging markets, where strong economic growth has for the first time made car ownership an option for millions.

Google logs on to Yahoo fray to thwart MSN deal

New York: Online search giant Google has come out openly against Microsoft's $45-billion takeover bid for Yahoo, terming the deal as a threat to openness of the Internet.
Google's Chief Legal Officer and Senior Vice-President (Corporate Development) David Drummond said in a statement that "openness of the Internet is what made Google — and Yahoo! — possible."
But, Microsoft's Yahoo bid raises 'troubling questions' in relation to the preservance of openness and innovation — two underlying principles of the Internet, Drummond said in a statement posted on the official blog of Google.
Meanwhile, Wall Street Journal reported that Google CEO Eric Schmidt has called on Yahoo CEO Jerry Yang to offer his company's help in an effort to thwart Microsoft's bid.
Drummond said Microsoft had often tried to establish proprietary monopolies and questioning whether it would seek to exert same sort of inappropriate and illegal influence over the Internet that it did with the PC.
Reacting to it, Microsoft's General Counsel Brad Smith said, "Microsoft is committed to openness, innovation, and the protection of privacy on the Internet. We believe that the combination of Microsoft and Yahoo! will advance these goals."
Microsoft-Yahoo combination would create a more competitive market by establishing a compelling number-two for Internet search and online advertising and alternate scenarios only lead to less competition, he added.
The Microsoft official said that Google, the dominant search engine and advertising company on the web, has amassed about 75 per cent of paid search revenues worldwide and its share continues to grow.
"According to published reports, Google currently has more than 65 per cent search query share in the US and more than 85 per cent in Europe. Microsoft and Yahoo! on the other hand have roughly 30 per cent combined in the US and approximately 10 per cent combined in Europe," Smith said.

Maruti plans challenge to Nano

NEW DELHI: The battle for the small car is getting hotter. Soon after the Tatas stunned the world with a Rs 1 lakh car, Nano, Bajaj announced a small car with Renault's support and then Hyundai stated its intention to come out with a car that could cost less than Rs 2 lakh and hit the road by 2011. And now, TOI learns auto biggie Maruti-Suzuki too is ready with a hot recipe for a dish of a small car. Maruti-Suzuki is tight-lipped, even in the denial mode, but a number of vendors who have been entrusted with the challenge of developing components for Suzuki's small car say the company's reticence is only evidence of the seriousness of its intent. The little car could hit the road, they say, as early as the end of this year or early 2009. From what TOI learns, the Suzuki car will come closest to rival Nano. It will sport a Suzuki 660cc engine - as against Nano's 623cc - and wear a tag of around Rs 1.5 lakh on road (that is, excluding insurance) - a little higher than Nano, which is expected to be Rs 1.25 lakh on road. Suzuki, say several vendors, is confident of overcoming the price difference by virtue of its high brand equity in the auto mart. When contacted, a Maruti spokesman in Delhi first said the company had no comments to offer. When asked for a written response, the spokesman wrote back saying the company has "no plans" for such a car. The small car project, said vendors, is being mothered by Suzuki at its headquarters at Hamamatsu in Japan, although it will be eventually manufactured in India. A vendor said that Suzuki has codenamed the project "Under A" as the proposed car would be positioned below the A segment, which is driven by Maruti 800 at present.

Costly Maruti: All models get dearer

Mumbai:The country's largest car maker Maruti Suzuki India on Saturday said it has effected a price hike of up to Rs 11,000 across all its models.
The popular M800 model, the company's entry-level hatchback, has become dearer by Rs 1,000 and is available for Rs 1.98 lakh to Rs 2.19 lakh (ex-showroom Delhi), the company informed the Bombay Stock Exchange.
Maruti has effected the maximum increase - Rs 11,000-on its best selling sedan SX4. The increase is on all variants of this model. SX4 would now cost Rs 6.29 lakh for the standard variant while Rs 7.35 lakh for the top-end.
The prices of its bestselling hatch Alto have also gone up by Rs 2,500. Its two variants would now cost Rs 2,74,022 and Rs 2,92,684 respectively.
All variants of hatchback Wagon R petrol are also dearer by Rs 3,500 now, while the LPG variant is costlier by 1,000.
Wagon R petrol would now be available in a range of Rs 3,34,929 to Rs 3,83,562 while its LPG variant would cost Rs 3,54,232 for the base model and Rs 3,82,053 for the top-end.
An increase of Rs 2,000 has also been announced on two variants of hatchback Zen Estilo. The car's mid-end variant Zen Estilo LXi would now cost Rs 3,54,822 while its top-end model Zen Estilo VXi is priced at Rs 3,79,954.
Omni five-seater has been made dearer by Rs 2,500 across all models while MUV Versa would cost by Rs 4,000 more. A price hike of Rs 10,000 has also been announced on Gypsy.

Microsoft, Yahoo deal: Good for Indian operations

BANGALORE/HYDERABAD: The multi-billion-dollar acquisition bid by Microsoft for Yahoo will have reverberations in India, which has grown into a vital link in their development chain over the past few years. Employees of the two companies often rub shoulders in the pubs of Bangalore, the country's technology hub, but their work is quite different from each other. Industry insiders say this should make outsourcing workers a bit relieved because it gives little room for any kind of duplication or downsizing. With little time to react, employees in both companies are adopting a wait-and-watch attitude. Yahoo currently has a total headcount of 1,500, with its R&D operations solely located in Bangalore. On the other hand, Microsoft India Development Centre in Hyderabad employs 1,400 people.

Microsoft, Yahoo deal poses ad market challenge to Google

Real challenge to Google overseas and in hot new ad markets such as mobile Internet, but only if Microsoft ignores its basic instincts. Microsoft Corp's unsolicited offer of some $44.6 billion for Yahoo Inc would create a larger second player to Google Inc's dominance of Web search and put nearly 600 million unique monthly visitors from around the world under one roof. But the success of a merger would depend on letting some of Yahoo's brands survive and even acknowledging that a few of its products are superior to Microsoft's, ad executives and experts said on Friday. "They've got to resist their own impulses, which would be to roll the Microsoft product with the Yahoo product and bundle it all in Windows Mobile," said Daniel Taylor, senior analyst at research firm Yankee Group. "It might mean making some hard decisions about whether Yahoo's search product is better." To be sure, Yahoo has yet to show signs of accepting the offer. Major concerns remain over whether Microsoft could keep Yahoo staff on board while integrating two very different corporate cultures and combining separate e-mail, messaging and advertising platforms. But advertisers will like the deal because they want more consolidation in the estimated $40 billion Internet market and hope to see a strong alternative to Google.
"They don't like one-player markets because they lose complete control. They don't like markets with lots and lots of competitors either," said Rishad Tobaccowala, chief executive of the Denuo Group, a consulting arm of Publicis Groupe SA. "The agency structure and marketer structure is that they are only used to dealing with 8 or 9 people in a particular category. Otherwise they don't know how to do it," he said. In addition, smaller rivals such as Time Warner Inc's AOL or News Corp's Fox Interactive Media could enjoy the breathing room for niche players created in the wake of an intensified Microsoft-Google clash. "One of the unintended consequences is you suddenly have one fewer player at the table," said Peter Horan, CEO of the media and advertising unit at IAC/InterActiveCorp. "This could have the effect of opening up a little opportunity for other players. It may help AOL. "Over time, you'll start to see more sophisticated media plans. Advertisers will say: 'I'm buying a lot of reach and bulk off the big ad networks, now I want to add color and flavor by adding the Washingtonpost.com or Ticketmaster or the New York Times'." The timing of the offer comes as some investors begin to question Google's power. The company reported disappointing quarterly results on Thursday and analysts said its ability to easily take market share from competitors could be waning. When it comes to the future of advertising, the market for mobile Internet is still up for grabs.

Sensex down 650 points; HDFC lone index gainer

MUMBAI: Frontline indices came off the lows of the day, but further downside cannot be ruled out as global signs remain negative. Several mid-cap counters continued to languish amid major unwinding in stock futures. At 1:30 pm, the Sensex was down 652 points or 3.55 per cent at 17,709.27. Earlier, the index touched a low of 17,443.29 after opening at 18,011.89. State Bank of India (down 6.75%), Reliance Communications (6%), DLF (5.53%), Infosys Technologies (5.33%) and HDFC Bank (5.02%) were the biggest losers. HDFC, up 1.34 per cent, was the only gainer on the 30-share index. The National Stock Exchange’s Nifty was down 238 points or 4.42 per cent at 5145.60. The index touched a low of 5071. CNX Mid-cap Index was down 2.03 per cent and the BSE Mid-cap Index lost 2.43 per cent. Bharat Electronics (down 13.43%), HDIL (10.39%), SAIL (8.53%), Reliance Capital (8.02%), SUN TV (7.64%), Orchid Chemicals (7.57%) were the worst hit. Selling continued across Asia, pulling the Nikkei 225 down 3.97 per cent, the Hang Seng down 5.06 per cent and the Straits Times down 4.14 per cent.

‘Mr Chidambaram, don't cut direct tax rates in Budget’

New Delhi: A day after industrialists pitched in for cuts in personal and corporate income tax rates in the next Budget, Finance Minister P Chidambaram on Wednesday received exactly a different suggestion from economists.
"Given the circumstances that there a number of fiscal stress points in the offing, like oil bonds, MSS, pay commission, it is not prudent to start thinking of reducing tax rates," Standard & Poor's Chief Economist (Asia-Pacific) Subir Gokaran said after pre-Budget consultations between P Chidambaram and economists.
ICRIER Director and Chief Executive Rajiv Kumar said the advice given to the Finance Minister was that both personal income tax and corporate tax rates should not be altered.
"Don't touch personal income tax, buoyant tax collections do not mean that you cut tax rates, but use the money to either improve infrastructure expenditure," Kumar said.
Economists' suggestions came just a day after India Inc called for a cut in direct tax rates as well as excise duties. That way, the Finance Minister got two different sets of advices on cuts in tax rates in the first two days of his consultations with the industry and economists.
However, Kumar suggested to rationalise excise duties whose incidence is very high, particularly in oil sector.
"You can also look at the tax composition of oil prices, it is 57 per cent. Why don't you bring that down. By cutting taxes you can give relief to customers and down stream oil companies," he said.
With rupee appreciation already making imports cheaper, Kumar suggested that customs duty rates should also be left untouched.
He advised the Finance Minister to impose tobin tax on foreign inflow to check rupee appreciation. Tobin tax is a levy on currency speculation to discourage volatile short-term trading and its destabilising effect on currency value.
Kumar suggested such a tax on inflow into equity market and real estate, but not in other sectors of the economy. Besides, steps should be taken to enhance absorptive capacity of the economy so that inflow of funds could be utilised, he said.