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Politics Business Expressions General Sports Leisure States 02 March 1998   Planners see 7% GDP growth The Ninth Plan draft paper has projected a sharp increase in private sector investment to 8.8% of GDP as compared to 4.33% in the Eighth Plan. It is also expecting a GDP growth rate of 7% as against 6.5% in the Eighth Plan but points out that unemployment will decline only if the growth rate touches 7.5%.   IFC hikes stake in Moser The Washington-based International Finance Corporation (IFC) has been allotted an equity stake in Moser Baer (India), the diversified products manufacturer. This will substantially hike the foreign holding in the company which is already pegged at around the 25% mark. Courier cargo operations to shift to new terminal The Airport Authority of India has decided to shift daily courier cargo being handled at Sahar International airport to a new terminal. This decision will free the terminal of cargo piles which were hindering passenger movement. Export import gap to widen India will have to rely heavily on external capital to bridge a staggering gap of Rs 2498 billion between exports and imports during the Ninth Plan period. Exports is projected to grow at a rate of 14.5% as against 10.3% in Eighth Plan touching Rs 9163 billion.   Free insurance sector: Panel The Planning Commission has asked the government to loosen its monopoly over insurance, pension and provident funds to remove the bias against the private sector for long-term low-cost finances. IHL to up stake in 3 cos Fearing a takeover bid on its three associate companies, Indian Hotels, the operators of Taj group of hotels, has begun an exercise to increase its stake by buying out the stakes of other investors. The three associates are: Gateway Hotels & Resorts Ltd, Taj Kerala Hotels & Resorts Ltd and Indian Resorts Hotels Ltd.