Aviation ministry clears revised cabinet note on Tata-Raytheon project
The Union civil aviation ministry has finally cleared the Tata-Raytheon Bangalore airport project, albeit after substantial amendments. The project will now be developed on a joint venture / build-own-operate (BOO) basis with the Central and state governments also being partners in the venture.
OTC makes trading in gilts free for members
Members of the Over The Counter Exchange of India (OTCEI) have received a windfall from the exchange. The OTCEI has offered its members free membership for trading in government securities instead of charging a refundable fee of Rs 15 lakh, which it is levying on dealers wishing to trade in the segment.
Medium-term plan sees 3-fold hike in exports
The Union commerce ministry has unveiled a medium-term strategy to achieve an export level of $90 billion and a 1% share for India in world exports by 2002. The strategy entails improving the competitiveness of exports, enhancing the production base for exports and focussing on technology upgradation.
VDIS may rescue Chidambaram's opus
The Voluntary Disclosure of Income Scheme (VDIS), which gave tax evaders a chance to come clean, will save the 1997-98 budget and help the government maintain a semblance of fiscal prudence. 77.5% of the VDIS collections will be transferred to the states in the next fiscal, enabling the Centre to show the collection as receipts in the current budget's revised estimates.
Creaky Congress hires image advisor to push poll prospects
The Congress party has hired Delhi-based image-advisory consultants, Perfect Relations, to work out a structured communication programme for the party. The move, a bid to improve the party's public relations, will help the party in issues like projecting its leadership qualities, getting feedback from the public and analysis of rival party strategies.
Unit Trust may unveil maiden open-ended debt fund
The Unit Trust of India (UTI) is contemplating the launch of its first open-ended debt fund. UTI is considering this move as the lack of an open-ended debt fund is the only gap in its family of funds, as all of its other funds are close-ended ones.
