Tuesday, June 2, 1998
Budget generates hope for the power industry
The budget has generated a lot of hope in the power sector but the key lies in implementation of policies and concepts. Increase in the plan outlay from Rs 6,738 crore to Rs 9,500 crore is a seen as a step in the right direction. The tax holiday for power projects has been extended till 2003.
Centre to dilute equity to 26% in state-run firms
The Union government has decided to breach the psychological barrier of reducing its majority stake in public sector undertakings. The budget has announced that the government will dilute up to a minimum of 26% in public companies.
Praise, flak dot import-duty move
The government's new import duty cushion came in for varying reactions from the corporate sector immediately after the budget. While some senior industry leaders lauded the move, others criticised it as being anti-competitiveness.
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