Vajpayee unveils blueprint to turn around economy
Prime minister Atal Behari Vajpayee on Tuesday unveiled an action plan for an economic turnaround to be implemented over the next three months. The key features of the PM's economic package include enhanced FDI welcome, Speeding up of the internal liberalisation programme and constitution of a commission to review all rules and regulations governing industry and trade.
Country likely to clock 6.7% GDP growth: ADB
The Asian Development Bank, in its latest report -- the Asian Development Outlook for 1998 -- has stated that India will clock a GDP growth of 6.7% in 1998-99. The report underscores that higher growth would depend on a recovery in both agriculture and industry. It further adds that industrial recovery would be directly proportional to the extent kinks are ironed out in the infrastructure area.
Erring power companies served with notices
The Union government has issued show-cause notices to power companies which had failed to achieve financial closure by March 31, 1998, irrespective of whether they had tied up for liquid fuel supply or not. The companies have been asked to explain their failure to meet the deadline. They have also been told to specify the time they need to make financial closure.
Sonia promises to back govt on measures to spur economy
Congress president Sonia Gandhi on Tuesday assured full cooperation to the government if it brings legislative changes for spurring the economy and boosting investment. Sonia Gandhi made this declaration while speaking at the CII annual conference in New Delhi.
EU leaders to meet on May 2 to decide on Euro countries
Next month, international markets will see a seismic shift as the move to a single currency gathers unstoppable momentum. Leaders of the European Union will meet in Brussels on May 2 and 3 to formally decide which countries qualify to join the currency union.
Tokyo to seek US support for reform plan today
A top Japanese politician and a cabinet minister face a thankless task on Wednesday as they begin a spring break parade of Japanese officials seeking US support for Tokyo's latest economic rescue package. Taku Yamasaki, policy chief of the ruling Liberal Democratic Party, leaves on Wednesday for Washington, where he will join economic planning agency minister Koji Omi, to explain the 16.65 trillion yen ($126 billion) package.
