Saturday, September 5, 1998
Local calibration mandatory to balance global flux: RBI
The Reserve Bank of India has singled out four areas -- slowdown in industrial output, rising inflation, widening fiscal deficit and sluggish export growth -- that need to be tackled on a war-footing. The central bank is no less preoccupied about the "recent international developments" which, it says, require "continuous watch and alert policy responses".
Nuke powers' stance highly discriminatory, says NAM
The non-aligned countries have strongly criticised the five nuclear powers for insisting on maintenance of their nuclear arsenals terming it as `highly discriminatory' and endorsed India's call for a global meet by 1999 to find ways for complete elimination of such weapons within a specified time-frame.
Core team clears special-purpose vehicle plan
The core group of secretaries has endorsed the Union finance ministry's proposal to set up a special-purpose vehicle (SPV) for putting the privatisation process of public sector undertakings (PSUs) on a fast track. The group will discuss the SPV proposal aiming to reduce government stake to 49% in the ten navratnas, six top public sector banks and the IDBI which together hold a little over 50% of the country's GDP in assets.
|
|
