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Business & Economy
Agriculture likely to get
big boost in budget
What is India News Service, Friday, 11 February 2005, 1700 hrs IST
A significant hike in allocation to the agriculture sector is likely in this year\92s budget (2005-06) with the government drawing out a comprehensive action plan aimed at reforming agriculture markets and post-harvest infrastructure.
Finance Minister P Chidambaram today dropped subtle hints that the level of public investment in the farm economy was likely to be stepped up.
\93If India were to be driver of the global economy in the 21st century, we have to promote investment in irrigation, agriculture and infrastructure\94, Mr Chidambaram said today.
He was addressing captains of the industry at a meeting organised by the Indian chapter of the International Chamber of Commerce (ICC) here.
The government has identified a series of steps for pitchforking the agriculture sector into a high growth trajectory, including a programme to revamp agriculture research, agriculture extension and agriculture education.
Measures would also be initiated specifically for the revival of plantation crops and genetic upgradation of buffaloes and cattle.
Chidambaram's recipe for achieving economic objective:
The Union Finance Minister, P. Chidambaram, on Thursday indicated the broad contours of the Centre's philosophy in economic decision-making to help the country drive the global economy in the 21st century.
Vedanta goes for Rs 17,000-cr investment in India: Vedanta Resources, an international metals and mining major promoted by Sterlite Group of India, is making an investment of Rs 17,000 crore in India, including setting up a greenfield aluminium smelter project in Orissa at a cost of Rs 7,000 crore.
Reliance, MRPL to sell kerosene: The Central Government today announced that Reliance Industries Limited (RIL) and Mangalore Refineries and Petrochemicals Limited (MRPL) would be allowed to sell kerosene in the open market directly to "genuine consumers".
Civil aviation regulatory body on the anvil: The Ministry of Civil Aviation is to soon send its detailed proposal for the setting up of the Civil Aviation Economic Regulatory Authority to the inter-ministerial group for its clearance before putting it forward in Parliament in the form of a Bill for the final clearance by both Houses.
e-bridge connects farmers, consumers: India\92s first National Spot Exchange for Agriculture Produce was set up today, paving the way for linking all agriculture produce marketing cooperatives and other physical market players on an electronic platform.
Rolls Royce signs $-200 m deal with Air Deccan: Rolls Royce engines would be powering the Airbus 320s ordered by Bangalore-based low-cost airline Air Deccan, and its share of the International Aero Engines (IAE) V-2500 engine, for the airline's fleet expansion of 30 A-320s, including a long-term Fleet Hour Agreement is worth $ 200 million.
HAL keen on firming up orders from Boeing, Airbus: Defence aviation major Hindustan Aeronautics Ltd (HAL) is keen on firming up orders from civil aviation majors, Boeing and Airbus, in the light of the Indian Airlines and Air-India contemplating to buy new aircraft for its operations.
Curtains for Carly may mean centre stage for Vyomesh: The exit on Wednesday, of `computer queen' Carleton ("Carly'') Fiorina, from leadership of Information Technology major Hewlett Packard had a tinge of unintended irony here in India.
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SAIL inks gas supply pact with GAIL: Owing to uncertainties in coking coal supplies, the Steel Authority of India Limited (SAIL) has inked an agreement with GAIL (India) for the supply natural gas (LNG) to its four integrated plants during 2006-07.
Cabinet clears way for Iran gas pipeline:
After years of impasse, India has formally invited Pakistan for a dialogue on using its territory as transit for sourcing natural gas from Iran through a $4.5 billion gas pipeline.
Indo-Iran gas pipeline agreement by June: Aiyar
India and Iran hope to conclude the agreement for gas supplies through the 4.5 billion dollar pipeline in June this year. "I am going to Tehran in June and hope this would act as a catalyst for concluding the agreement between India and Iran for sourcing gas through an on-line pipeline," Petroleum Minister Manishankar Aiyar told reporters after meeting the Iranian Ambassador in New Delhi.
Connect gives free Internet access: HFCL Infotel today announced a first of its kind offer for its landline subscribers. Now a Connect subscriber can access Internet free for life. Mr Jayant Keswani, General Manager, Marketing, said unlike a wireless Internet connection, one does not share the bandwidth resource amongst multiple users in a given area.
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