Saturday, July 18, 1998
Finance Bill passed, FM concedes sops to consumers
While giving a whole host of sops to consumers across the country, Union finance minister Yashwant Sinha yesterday ripped into former finance minister P Chidambaram, arguing that it was the previous government which was responsible for the economic mess the country was in. Sinha withdrew most of his budget proposals which affected the common man and had come in for a great deal of flak earlier.
Government to review export credit
Concerned over the poor export performance last year, the Centre will take a decision in the next few days over the interest rates on export credit. It is learnt that the Reserve Bank of India (RBI) is likely to change its rules governing cheap credit to exporters following complaints from trading houses.
Government raises Rs 2,898 crore through on-tap stock issue
The three-year 11.55% on tap stock mopped up Rs 2,898.72 crore on Friday. The Reserve Bank of India (RBI) closed its sale window after accepting all the 79 bids it received. With the sale of the three-year tap stock, the government completed Rs 43,898.72 crore out of a gross borrowing programme of Rs 79,000 crore.
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