Export bottlenecks to be removed: FM
Expressing concern over the industrial slowdown and low export growth, Union finance minister Yashwant Sinha has said that he would address these issues suitably in the forthcoming Budget to be presented sometime in May. Stating that the thrust should be on export growth, the finance minister said that the export-import policy is likely to be announced on April 15.
Centre's resort to WMA drops by Rs 3,445 crore
The Centre's resort to the ways and means advances (WMA) from the Reserve Bank of India (RBI) dropped sharply by Rs 3,445 crore to Rs 1,788 crore during the week ended March 20. In the previous week, it rose by a paltry Rs 8 crore.
Venkitaramanan tipped to head Best & Crompton
S Venkitaramanan, the former RBI governor, is tipped to become the chairman of Best & Crompton Engineering Co. A court-appointed chairman of the interim board of the company till April 3, he was discharged from this duty on April 3. But he will get only a week's break before he takes his place at the company's helm after being formally appointed by the board.
GTR shortlists 5 consortiums to bid for Baroda-Halol highway project
Gujarat Toll Road (GTR) has shortlisted five consortiums to bid for the Baroda-Halol highway project, the first recourse road project in the country. The shortlisted consortiums are Larsen & Toubro, the Shaporji Pallonji consortium, Ircon & Punj Lloyd, Madhucon-Binapuri and Hindustan Construction along with Renang of Malaysia.
Tata Finance hikes interest rates for all Telco vehicles
Tata Finance, a leading financier for Telco vehicles, has started the new financial year with an across the board increase in interest rates. The company has effected a two percentage point hike in interest for all Telco models. Even the controversial Safari has not been spared.
CESC likely to report Rs 70 crore loss
CESC is expected to incur a loss of at least Rs 70 crore for 1997-98, despite a record generation of 3,981 million units in 1997-98 against 3,363 mu during the previous fiscal. Speculation is rife that the loss could be around Rs 120 crore, but close watchers of CESC believe that it will not be that high.
