Business & Economy

RBI reviews '90s reforms,
calls them 'successful'

What is India News Service, Friday, 24 December 2004, 2000 hrs IST

The Reserve Bank of India on Thursday stated that structural reforms initiated in the Indian economy in the early 1990s had a significant impact on the conduct of monetary policy in terms of its objectives, strategies and tactics.

"An assessment of monetary management since early 1990s shows that monetary policy has been reasonably successful in meeting its key objectives, price stability, flow of credit to productive sectors and ensuring financial stability,'' the RBI stated in its "Report on Currency and Finance 2003-04,'' which is prepared by the RBI's Department of Economic Analysis and Policy.

In assessing the conduct of monetary policy during the recent years, it needs to be stressed that during this period, the Indian economy witnessed a large number of shocks, both global and domestic.

3 special economic zones cleared: The Union Minister of Commerce and Industry, Kamal Nath, on Thursday cleared the establishment of a Special Economic Zone (SEZ) by Wipro Limited for software development and IT enabled services at Salt Lake Electronic City, Kolkata.

Alliance plans 6 small planes for feeder routes: Indian Airlines and subsidiary Alliance Air would induct six small aircraft next year to connect smaller cities close to metro areas, Minister for Civil Aviation Praful Patel declared on Thursday.
 

VSNL shoots off letter to TRAI, FLAG: In a move that could further escalate the ongoing bandwidth tussle between Videsh Sanchar Nigam Ltd. and Reliance-owned FLAG Telecom, the Tata group has alleged that the latter is planning to cut the FLAG Europe Asia (FEA) cable.

Maruti to hike prices: Car market leader Maruti Udyog on Thursday informed its dealers that it would raise prices by next month as rising input cost was putting pressures on margin.

Reliance feud may ease on annulment of stake: The bitter differences between the Ambani brothers, who control the mammoth Reliance Industries, may ease a bit after elder brother Mukesh decided to renounce his controversial stake in a fast-growing group company.

HSBC pre-merger advisor to MTNL: In a bid to synergise its operations prior to the merger with BSNL, MTNL has appointed HSBC as its advisor, this was done with the advise by department of telecom (DoT).

No STD charges on new Tata phones: Tata Teleservices launched mobile service offering customers the facility to make unlimited calls without any long distance (STD) or roaming charges within the network on a monthly rental of just Rs 99.



Business papers 


Business Standard
Economic Times
Business Line
Financial Express