Saturday, November 7, 1998
Trade deficit spurts on back of dip in exports
Export growth during the first half of the current fiscal fell by 3.28% over the corresponding period last year. Compounded with rising imports, which was up by 10.06% during April-September 1998, the trade deficit swelled to about $5 billion,compared with $2.5 billion in the corresponding period of the last year. According to data issued by the commerce ministry on Friday, exports in September fell by 4.89% over the previous month.
IT unit scheme may rake in Rs 5,000 cr by 2003
The country is expected to rake in Rs 5,000 crore as foreign direct investment by year 2003 in IT manufacturing after the soft bonded IT (S-BIT) unit scheme is implemented, according to the National IT task force. The country has so far attracted only Rs 1,200 crore since 1992 in IT related investment.
Kudankulam project report to cost $57m
The government of India and the Russian Federation have agreed to spend $57 million for the detailed project report (DPR) on the 2x1000mw each nuclear power plant of VVER reactors at Kudankulam in Tamil Nadu. The government, which is establishing the Kudankulam plant through the Nuclear Power Corporation of India (NPCIL) in technical collaboration with the Russian Federation, will initially fork out 10% of this amount.
|
|
