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Ministry mulls cut in DAP subsidy by Rs 250 per tonne
The ad-hoc subsidy on diammonium phosphate (DAP) fertiliser is likely to be cut by Rs 250 per tonne, if the plans of the Union agriculture ministry materialise. The ministry is currently deliberating upon a proposal to this effect. The proposal is however facing a lot of flak from the agricultural industry.
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Verma allays industry fears on interest rates
The Reserve Bank of India's decision to step up the bank rate and cash reserve ratio (CRR) will not queer the pitch for corporates, according to bankers and institutional heads. Their refrain is that the hike in lending rates will be a short-term move and will in no way impair growth.
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Credit squeeze seen hampering industrial growth
Financial analysts have drawn up a grim forecast for the economy, following the stringent policy announced by the RBI recently. They said that the RBI package, while helping the stabilisation of the rupee, will adversely affect the growth prospects of the economy.
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SEBI caveat may mar book-building prospects
Book-building programmes in the country are likely to be severely affected from June 1998 onwards. This is due to a directive from SEBI, which becomes effective from June 1998, restraining the fund-mobilising abilities of merchant bankers. The SEBI order poses a threat for book-building exercises as it is likely to reduce the fund-base of merchant bankers.
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