Sunday, July 5, 1998
9.58% growth rate in NSDP essential to bring per capita income to national level
Despite its vast natural resources and substantial development in the last 47 years, Orissa continues to be one of the less developed states in the country. The state economic survey report (1997-98) laments that the development efforts in the state have remained largely stifled since the state has been trapped in the vicious cycle of poverty. The report, however, hopes that large scale private participation in the process of development would greatly accelerate growth and reduce poverty.
Political stability vital to pep up market sentiments: I-Sec
The uncertainty on the political front has added to the macro-economic uncertainties and the depressed sentiments are evident across the equity, debt and forex markets, according to ICICI Securities and Finance Company (I-Sec). Stability in the political situation, unambiguous policy signals as well as clear understanding of the implications of the economic sanctions is necessary to boost market sentiments, I-Sec said in its discussion paper on `Balance of Payments: Trends and Prospects'.
CCPA delegation meets FM, seeks duty withdrawal
The Consultative Committee of Plantation Associations (CCPA) on Saturday met Union finance minister Yashwant Sinha and drew his attention to its representation submitted on June 22 for total withdrawal of central excise duty of eight per cent on branded packaged tea. CCPA chairman V K Goenka, who accompanied the delegates from other tea sectors also, told the finance minister that the central excise duty of eight per cent on packaged tea is likely to result in a price rise of Rs 10 to Rs 12 per kg on the lower priced branded teas.
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