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Business & Economy
World Bank lending to
India at all-time high
What is India News Service,
April 4, March 2005, 1400 hrs IST
World Bank's loan to India will for the first time cross
3.5 billion dollars in a year and it includes a possible 450 million dollars
for tsunami reconstruction work and 300 million dollars for rural roads.
"This fiscal (July-June 2004-05) our assistance could be well be in excess
of 3.5 billion dollars," World Bank country director Michael Carter told
PTI.
World Bank's country assistance scheme envisages 3 billion dollar loans to India
annually during 2004-07.
The bank is already lining up loans for a slew of infrastructure projects like
National e-governance, 400 million dollar loan to PowerGrid and another 295
million dollar for Maharashtra irrigation project, he said.
For the e-governance project, Carter said "the basic idea is to provide a
fund that would be picked up by respective states for implementing the
project." It could be about 500 million dollars.
The bank is likely to give about 450 million dollar IDA soft loans for tsunami
reconstruction requiring an estimated 1.2 billion for Tamil Nadu, Kerala, Andhra
Pradesh and Pondicherry.
Southern region, the largest contributor to IT exports:
With a share of around 55 per cent, southern region remained the highest
contributor to country's total IT exports.
VAT
may be extended from 550 to 2,000 items:
The Empowered Committee is likely to extend the list of items
coming under Value Added Tax regime from 550 to 2,000 so as to remove anomalies
and bring in uniformity across states.
Ministry
shoots down TRAI proposal on funding: The Finance Ministry has shot down a
proposal from the Telecom Regulatory Authority of India (TRAI) to fund its
operations from the licence fee collected from operators instead of the present
system of receiving grants from the Government.
UB
to merge all cos under United Spirits in 3 months:
Liquor Baron Vijay Mallya-controlled United Breweries Ltd is
planning to merge all its companies under a single entity -- United Spirits Ltd
-- in the next three months, even as itts Kingfisher Airlines is to take to wings
on May 8, 2005.
Unemployment rate up at 9.1 pc \97 Fewer jobs in organised sector:
The Planning Commission has estimated that the unemployment rate for the economy
as a whole has shot up significantly in the last two years \97 up from 8.87 per
cent in 2001-02 to 9.11 per cent in 2004-05.
Sugata
Mitra chosen for 'Dewang Mehta' award: NIIT's chief scientist Sugata
Mitra has been selected for this year's \91Dewang Mehta\92 award.
RBI,
Finance Ministry to discuss market access of loans with States: The process
of drawing up a formal mechanism for disintermediation by the Centre in
providing loan assistance to States is being kicked off next week.
ITC
series: Enduring value:
One of the largest print campaigns to hit the media has been the ITC series.
VAT
may be extended from 550 to 2,000 items:
The Empowered Committee is likely to extend the list of items
coming under Value Added Tax regime from 550 to 2,000 so as to remove anomalies
and bring in uniformity across states.
European
business community invited: Launching
the Indo-European Union Parliamentary Forum here, External Affairs Minister K
Natwar Singh on Saturday said trade and investment ties between the two sides
are "far below potential" and invited European business community to
access new "significant opportunities" in India.
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