Tuesday, October 6, 1998
Export policy must take global crisis into account: ICRA
The ICRA report on money and finance for the second quarter of the current fiscal has said that while policy support to the export sector can help contain the deceleration in exports, the unfolding global situation is likely to impose certain limits which need to be understood, quantified and integrated into the official strategy.
India seeks $3 bn from World Bank
India is likely to recieve $3 billion of loans in the current fiscal ending June 30, 1999 from the World Bank and the International Development Agency (IDA) as against $ 2.1 billion received during the previous fiscal. The loans will include four projects whose loan approval was postponed after the imposition of sanctions by the US after India's nuclear tests.
Pipavav power project gets nod
The Union government has cleared the setting up of a Rs 2500-crore naphtha-based 610 MW power project in Pipavav, North Gujarat. The KRIBHCO management is expected to invest Rs 1200 crore in the project, with the state boards and corporations footing the rest of the bill.
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