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New pay package for Central staff
The pay-packet bonanza that was eluding over 40 lakh Central Government employees has finally arrived. The Government has accepted a majority of the recommendations of the Fifth Pay Commission and agreed to implement them with retrospective effect from January 1, 1996.
Fresh cracks in UF as DMK raps move to bar RJD entry
Cracks appeared in the United Front with the Dravida Munnetra Kazhagam disputing that any decision was taken at Thursday's core committee meeting on admitting the Rashtriya Janata Dal into the Front.
Gujral writes off Rs 8,500-crore Punjab loan
Prime Minister, I K Gujral waived off Rs 8,500 crore loan extended to Punjab for fighting terrorism. Recovery of the loan will stop with immediate effect as Punjab had fought the nation's battle in a proxy war waged by a hostile neighbour, thus, the question of recovery of funds do not arise.
Thakre frontrunner for BJP chief's post
Kushabhau Thakre and Sunder Singh Bhandari are emerging as the strongest contenders to succeed L K Advani who relinquishes the post of BJP party president in November. Bhandari,one of the seniormost leaders in the party is considered a close rival for Thakre.
Bihar CM defers decision on resignation of RJD Ministers
Bihar chief minister Laloo Prasad Yadav will take a formal decision on the issue of the resignation of the three Rashtriya Janata Dal Ministers from the Union Cabinet only after the July 25 meeting of the United Front steering committee.
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Ministry stonewalls import licences of Daewoo Motors, PAL-Peugeot
The Union commerce ministry has not budged from its stance in granting import licences to car manufacturers Daewoo Motors India (DMI) and PAL-Peugeot since they failed to meet the various export obligations.
VSNL plans to invest Rs 4,200 cr in Ninth Plan Period
Public sector Videsh Sanchar Nigam Limted (VSNL) is embarking on an ambitious expansion plan with investment target of over Rs 4,200 crore during the Ninth Plan to become a world class telecom service provider.
ITC board to have fewer executive directors
ITC Ltd has decided to have fewer executive directors, with greater responsibilities given to the chief executives of its various divisions under the new governance structure. ITC's board is likely to be dominated by non-executive directors.
IDBI plan to privately place subsidiary shares rejected
The Reserve Bank of India has shot down the proposal of Industrial Development Bank of India to privately place equity shares of its subsidiary - IDBI Bank - with its shareholders. The institution had planned to privately place 100 shares with each of its 3.70 lakh shareholders at par.
HPCL to invite MNC bids for Vizag project soon
Hindustan Petroleum Corporation (HPCL) plans to invite bids from various multinationals to pick up a stake in its 500-MW power project, at an initial cost of Rs 2300 crore, to be set up in Visakhapatnam, Andhra Pradesh. The power project is jointly promoted by HPCL and the Andhra Pradesh State Electricity Board (APSEB).
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