The Financial Express -- Economy

Monday, November 17 1997

Coal ministry to tap Rs 335 cr unclaimed funds

The Union coal ministry is drawing up plans to tap unclaimed development funds worth Rs 335 crore within its control. These funds are proposed to be used for tackling the land subsidence at Raniganj and the unsuppressible underground inferno at the Jharia coalfields.

Court stays notification withdrawing Modvat credit

The Delhi high court has stayed the government notification withdrawing the Modvat credit scheme, deeming the decision arbitrary and irrational. A division bench comprising justice RC Lahoti and justice JK Mehra, in its interim order recently, also stayed the Centre's decision to confiscate the Modvat credit lying in the account of the manufacturers.

UP chalks out plan for core-sector investments

The Uttar Pradesh government has chalked out an action plan to create a conducive industrial climate in the state to attract private investment in core sectors. The strategy includes easy clearance of projects, simplification of proceedures, regular power supply and financial assistance to prospective and existing entrepreneurs.

Bank of Baroda first-half gross profit seen past Rs 420 crore

Southern chapter passes up chance to nominate Ficci vice-president

Li Peng says no plan to adjust exchange rate

Reprieve for banks as tribunal says interest tax not applicable to gilts

South Asia seen growing fast on sound policies

Malaysia rolls up sleeves to fight weak currency

MNCs make inroads into personal computers market

Follow rules to avail of VDIS-97 benefits

UP chalks out plan for core-sector investments

Delhi confident of pact with US on import curbs

Centre, S Africa must collaborate in agriculture

Brazilian firm Copel eyes investment in hydro-power sector