Thursday, February 4, 1999
GDP growth rate for 1997-98 scaled a tad to 5%
The gross domestic product (GDP) grew a shade lower at 5% in the year 1997-98 as per the new series of national accounts based on the year 1993-94, against the earlier estimate of 5.1% computed on the estimates with the base year 1980-81.
Billiton, Pechiney in race to partner L&T alumina plan
Billiton of South Africa and Pechiney of France, the world's largest aluminium company, are ahead of two other multinationals in the race to partner Larsen & Toubro in L&T's one-million-tonne alumina project. The Indian major has decided to revive the project after three years.
States' gross fiscal deficit may shoot up by 17.5%
The gross fiscal deficits of the state governments is likely to widen by 17.5% to Rs 59,676 crore in fiscal 1999, the Reserve Bank of India (RBI) said on Wednesday. This would constitute 3.7% of gross domestic product (GDP).
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