What is it: The Slingbox is a device that enables you to watch TV programming from wherever you are on your computer. This means you can catch your favourite Indian soap in the US, Germany, Japan or Timbuktu (if they have internet there) on your laptop

How does it work: Just connect the Slingbox to a TV source and the internet. This enables it to transmit the TV signals to a computer running Windows anywhere in the world

Where was it developed: It was developed almost entirely by the Bangalore centre of Sling Media, a San Mateo, California-based start-up

Is it available in India: No, but it will be launched here soon

How much will it cost: The Sling box retails for $249 (Rs 11,454) in North America, but prices are expected to be lower in India

-Rahul Sachitanand

Autorickshaws In Albion

Tuk-tuks: Going global

What is it: It's India's very own autorickshaws, or tuk-tuks as some people call them

Why is it in the news: Domimic Ponniah, a 26-year-old Briton of Sri Lankan origin, has started a public transport service with 12 of these in the British seaside town of Brighton. He has added side impact bars and seat belts, painted the Union Jack over them, and is running a point-to-point service like a bus

What's next on his agenda: Ponniah plans to expand his services to London and Manchester over the next year and later, to other European cities

What is the main selling point: These tuk-tuks run on compressed natural gas, so emission levels are close to zero. That's what make them popular in environment-conscious Europe

What does Bajaj Auto have to say: "He did what?" asks an incredulous executive, before reverting to a more corporate sounding "no comments"

Now what: Next time you visit Old Blighty, you can tell the natives: "We invented that thing"

-Kushan Mitra

ECONOMY WATCH

INFLATION

Status: Rising steadily

Impact: Short term interest rate to firm up, depositors to benefit
Corporate expansion plans, bottom lines to be hit
Essential items to cost more
Investors will be discouraged from investing in fixed income assets

TAX COLLECTIONS

Status: Headed north

Impact: Total tax collections, both direct and indirect, have grown over 20 per cent per annum over the last two years. According to the April-June figures, direct tax collections are up. Income tax collections are up 46 per cent and corporate tax collections 55 per cent over the corresponding period last year. Indirect tax collections, too, are buoyant. Customs collections are up 34 per cent, excise 10 per cent and service tax an impressive 50 per cent compared to the corresponding period last year. The Fringe Benefit Tax and the Cash Withdrawal Tax up to May have contributed Rs 105 crore and Rs 78 crore, respectively, to the revenue kitty.

-Compiled by Anand Adhikari and Shalini S. Dagar

P-WATCH
A bird's eye view of what's hot and what's not on the government's policy radar.

Disinvestment stops: Thanks to DMK

DISINVESTMENT: EVEN THE TRICKLE NOW STOPS

When push comes to shove, the Prime Minister yields. And so, the minority stake sale exercise in PSUs has come to a grinding halt. And, the 'veto' was exercised by the UPA government's allies, the DMK party, following the Centre's recent move to sell a 10 per cent stake in Neyveli Lignite Corporation. DMK's threat to withdraw support to the government did the trick, but it equally dealt a big blow to the 'pro-reform' image of the government.

Evidently, the disinvestment process has come a full circle-public sector units were considered family silver not very long ago; then came a phase during the previous NDA regime when some of the companies were privatised; this was followed by the unfurling of red flag resulting in disinvestment flows reducing to a trickle with only minor stake sales in companies like NTPC; and now, it has come to a grinding halt. Surely, some good things need not come to an end.

-Balaji Chandramouli

WILL HIGHER INFLATION BITE INDUSTRY?

The Reserve Bank of India's (RBI's) forecast of an inflation rate of 5-5.5 per cent this year is worrisome, for it is over 30 per cent of that recorded at the beginning of this fiscal. Is it harsh enough to drag down the industry? Not this fiscal, argue experts. "While external pressures like spiking crude oil prices will immediately impact costs, the effects of inflation will catch up next year, since there is a lag in its impact. Furthermore, our estimates indicate an inflation rate that is only a trifle higher," says Bhanu Murthy, Associate Professor, Institute of Economic Growth (IEG). Forget competing estimates, the sting clearly lies in the tail.

-BC

MOVES AFOOT TO TAP MINERAL WEALTH

At a time when global commodity prices are shooting through the roof, what is holding back investments in the domestic mineral sector? The first reason is the Government's Red Tape, reflects the Hoda committee report. The committee has recommended a slew of measures to fix this problem-seamless grant of mining licences from reconnaissance stage to actual mining, auctioning of delineated mines and granting security of tenure to mining companies. The report has something for the owner of the assets, the states, too. It has proposed higher rent for the states, by switching from the prevailing system of fixed rate taxes to ad valorem rates. Importantly, the panel has also suggested that states give preference to those companies that offer to set up an industry in the state itself. Now its time to act on these recommendations.

-BC

NO TRADERS PLEASE

If you are a trader, don't bother trying to relocate to the hottest address in the country-the special economic zones (SEZs). The government has barred traders from setting up shops in these tax shelters and has recently informed officials manning the SEZs not to approve applications made by the traders. This move is aimed at curbing the revenue loss that would arise when traders selling in the domestic market move their operations to an SEZ, which is a tax holiday zone. Advantage manufacturing.

-BC

Air travel: Cheap no more

SHORTER LEASE OF LIFE

The airline industry thrives on leasing and purchases of aircraft are few and far between. In this backdrop, the civil aviation ministry has issued guidelines that forbid companies from dry leasing aircraft (leasing only the aircraft and not the crew) from foreign airlines. This is aimed at ensuring that no foreign airline exercises direct or indirect control over the Indian venture. While there are large leasing firms not affiliated to any airline, this will reduce the available options and perhaps raise the cost of leasing; in turn, you could end up paying more to fly.

-BC