Shri D Nandakumar our Hon Secretary
met Shri Dharmendra Paratap Yadav
IAS Inspector General, Registration
Department during his visit to
Coimbatore on 2nd December 2011.
Availing this opportunity Chamber
submitted a representation pleading for
revision in the guideline values since the
Government is in the process of revising
the guideline values for Coimbatore
region which is quite abnormal and very
much on the higher side when comparing
to the market value.
We have also requested him to include
the name of our Chamber in the District
Committee for Revision of Guideline
Valuation constituted by the Registration
Department.
In response to our representation the I
G has assured that the Government will
definitely consider and bring down the
guideline values.
Our Secretary Shri D Nandakumar and Shri CSK Prabhu, Chartered Accountant have been nominated as Members of Coimbatore District Sales Tax Advisory Committee to represent our Chamber.
We have submitted our demand to the Tamil Nadu
Government for formation of Greater Coimbatore
Development Authority. Our President pointed out that
Coimbatore needed the Authority for planned growth.
Investors would have to look at Coimbatore as Chennai
would not be able to take all the investments. If the growth
here is not planned, it would cause inconvenience to the
public in their daily activities, such as transport.
Several industries are reluctant to invest in Coimbatore as
their employees and shop floor workers would require
affordable housing, more number of schools and
entertainment options. These would take time to develop.
“However, we need to create a system that will facilitate this
development.
Our President also mentioned that the existing manpower of
the Local Planning Authority at Coimbatore is inadequate to
fulfil the functions of planning, implementation, enforcement
and plan approval process. Thus, hardly any planning activity
is taken up in Coimbatore. The city is developing and should
plan for the future, implement the plans to achieve the desired
pattern of urban development, co-ordinate with various
agencies to implement the designated projects, control and
regulate development, and promote better living conditions.
These would be possible with the formation of a Greater
Coimbatore Development Authority.
Chamber organized a Launcheon meeting with
Shri D Sampathkumar, Editor Business Line on
12th December 2011. Issues related to the socio
economic development of Coimbatore were
discussed with him and he was so happy for
meeting the important personalities of Coimbatore
from Trade and Industrial sectors.
Shri D Sampathkumar is the first person appointed
as Editor out side from The Hindu family.
A delegation led by Thiru P R
Natarajan, Thiru K Sugumar and
Thiru C Sivasami, Hon’ble
Members of Parliament along with
our President Dr M Krishnan, our
Vice President Shri R R
Balasundharam, President of
CODISSIA Shri M Kandhaswami,
Secretary of RAAC Shri R
Raveendran and Co-ordinator of
Coimbatore Railways Struggle
Committee Shri G K Nagaraj had
met Hon’ble Union Railway
Minister Shri Dinesh Trivedi and
Chairman, Railway Board Shri
Vinay Mittal at New Delhi on 1st
December 2011.
A Memorandum has been
submitted on the occasion
pleading for the following issues:
Infrastructure:
a) To develop Coimbatore
Junction as ADARSH or
MODEL Railway Station
b) Early completion of Gauge
conversion between
Coimbatore and Dindigul,
c) Development of Coimbatore
North, Peelamedu and
Singanallur Railway Stations.
d) Construction of Railway Over
Bridges at Avarampalayam
Road, Eachanari Road,
Vilankurichi Road, near
Kikani High School Road and
near Peelamedu Railway
Station.
e) Improvement of passenger
related amenities at
Coimbatore Railway
Junction.
Train Services :
We have also stressed the need
for introduction of over night
express trains originating at
Coimbatore to Bangalore –
Rameshwaram and Chennai
(additional). We also urged the
Minister for the following trains.
* Introduction of Commuter
trains and Circular trains
* Extension of Jodhpur
Express upto Coimbatore
* Extension of Trivandrum -
Palakkad Amritha Express to
Coimbatore
* Additional quota facilities in
Bangalore - Coimbatore
express
* Introduction of train between
Coimbatore and
Mettupalayam
We have appealed to the Minister
to reroute the following five trains
on top priority which are now
running via Podanur –Irugur bypass
line:
Ernakulam – Bangalore weekly
Yesvantpur – Kannur Express
Puducherry – Mangalore weekly
Ernakulam – Bangalore
Biweekly Express
Kochuveli – Hubli weekly express
The Railway Minister and the
Chairman, Railway Board gave a
patient hearing and replied very
positively towards some of the
demands placed before them.
The Minister promised to examine
the plea for diversion of five trains
and ensured the diversion of two
trains immediately. For balance
trains, we have to take up the
matter with the General Manager,
Southern Railway, Chennai.
With regard to Coimbatore -
Bangalore over night express
train, Minister pointed out about
the capacity and terminal facility
constraints at Bangalore as well
as at Coimbatore. However the
delegation Members urged the
Minister for this exclusive train to
Bangalore.
As regards extension of
Trivandrum–Palakkad Amritha
express upto Coimbatore the
Minister promised to look into this
suggestion for extending it upto
Mettupalayam, since upto
Coimbatore is not possible.
For other amenities at Coimbatore
junction, Minister promised to do
it immediately. Our MPs have also
promised to pursue our demands
with the General Manager,
Southern Railway and others
concerned.
President, Vice President and
Thiru P R Natarajan Member of
Parliament also met Shri A K
Anthony, Hon’ble Union Minister
for Defence and extended our
cordial invitation to him to visit our
Chamber and address our
Members.
President briefed the Defence
Minister that since there are lot
of manufacturers who supply
engineering items to Defence are
established at Coimbatore they
will benefit by the visit of Defence
Minister.
The first meeting of Grievance Committee constituted
by the Joint Director General of Foreign Trade
Coimbatore was held on 20th December 2011.
Shri P R Vittel our Vice President attended the
meeting representing our Chamber.
One of the points discussed at the meeting was
extension of fulfilling export obligation under EPCG
Scheme without payment of fee.
It was suggested that if extension is required
by more than at least 25 manufacturing
organizations, an appeal would be made for
extension without payment of any fee. It was
also suggested that our appeal may be
favourably considered if it is based upon
economic conditions. It was decided that our
Chamber will take appropriate action in this
regard.
Chamber organized a meeting on “FDI in Retail
Trade” addressed by Shri S Gurumurthy, Eminent
Social Thinker on 9th December 2011.
While addressing he said, two decades after the
then Congress led Government went in for
liberalization, it has been proved beyond doubt
that the nation’s savings are behind our growth
and not foreign investment.
He also said that India is the only country to
have made progress on its own. Dismissing the
claims about foreign investment being vital for
India’s development, Mr Gurumurthy cited a
column by renowned economist Dr Shankar
Acharya wherein it was pointed out that only 1.2
percent of the total investment in the past 20
years was from abroad.
On retail business in the Country, he noted that
it is mostly a relation based business. “The total
of 15 million retailers means that there is at least
one retailer for every 80 Indians.”
Walmart with a global turnover of $422 billion
has just 21 Lakhs employees but the Indian retail
business that is estimated at $400 billion has
given jobs to six crore people.
FDI in retail can give employment to 20 Lakhs
people in India but cannot compensate the huge
job losses. Moreover, retail trade in our Country
still remains the first option employment for any
unemployed person.
Some economists and the intelligentsia have not
highlighted the dangers of FDI in retail mainly
because they do not want to go against the
Government.
Advising all sections of the public to raise their
voice against FDI in retail, he said that the issue
does not concern only retainers but affects all of
us. He also pointed out to the participants how
TESCO, a retail giant, has been exploiting the
farmers in not only the United Kingdom but also
those in many developing nations.
Dr M Krishnan President presided the meeting
and welcomed the gathering.
This meeting was well attended by large number
of Members of Chamber, its Affiliated
Associations, traders from other districts and the
public.
Shri D Nandakumar Hon Secretary proposed vote
of thanks.
The Reserve Bank of India has announced its Mid Quarter
Monetary Policy Review December 2011. Considering the current
Macro Economic assessment the RBI has kept the Cash Reserve
Ratio (CRR) unchanged at 6% and the policy Repo rate under
the Liquidity Adjustment Facility (LAF) was also kept unchanged
at 8.5%.
In a press note issued by Chamber we have welcomed and
appreciated the RBI in keeping all the key rates unchanged till
a more clear picture on inflation and inflationary expectation are
visible.
We have also pointed out that the Industry was expecting a
marginal cut in the CRR to induce liquidity in the system to
promote investments. The move is on expected lines.
Consequently, the reverse Repo rate under the LAF will remain
unchanged at 7.5% and the Marginal Standing Facility (MSF)
rate at 9.5%.
The RBI’s guidance that monetary policy actions from now on
will respond to the slow down in growth is reassuring.
The Government should take new policy actions to revive slowing
growth and control inflation as fiscal and monetary options are
limited.
We have also mentioned that RBI will make an assessment of
its growth and inflation projection in the 3rd quarter review.
Our President Dr M Krishnan and our Hon Secretary Shri D Nandakumar have been nominated to represent our Chamber in the re-constituted Regional Direct Taxes Advisory Committee of Coimbatore.
The Meeting of Central Excise
Public Grievance / Watch Dog
Committee was held on 28th
December 2011.
Our nominee Shri V
Lakshminarayanasamy attended
the meeting and taken up the
subjects received from our
Members for discussion at the
said meeting.