Economy & Business

Indian infrastructure needs
a major facelift: Montek

What is India News Service, September 04, 2004, 1600 hrs IST


Indian Infrastructure needs a major facelift as lack of quality infrastructure has adversely affected the flow of foreign direct investment (FDI) towards India in the recent past, said Montek Singh
Ahluwalia, Deputy Chairman of  the Planning Commission.

Dr. Ahluwalia favoured a shift from the current public investment in infrastructure development to one envisaging public-private partnership in such projects. He also pointed out that there was a widespread perception that the quality of Indian Infrastructure was a single major factor holding investor back.

Govt okays 7 foreign tech agreements: The government approved seven proposals of foreign technology collaboration, franchise agreement and industrial licence including those of HPCL and ITC.

Tata Indicom enters prepaid segment: Tata Indicom made an entry into the prepaid segment by launching its `True Paid' brand and has roped in cricketers, Sourav Ganguly and Irfan Pathan, as its brand ambassadors.

No hike in drug prices: The government said there will be no hike in the prices of pharmaceutical drugs for the remaining part of the current fiscal.

Labour and safety laws for exporters: The Apparel and Handloom Exporters Association (AHEA), Chennai, has appealed to the centre to ensure that compliance requirements in respect of labour and safety laws for purposes of export from India were as per  Indian laws.

Steps to sustain housing boom: The National Housing Bank (NHB) announced a number of measures to refinance and credit enhancement, to sustain the housing boom.

CERC issues regulations for pvt players in transmission: The Central Electricity Regulatory Commisssion (CERC) has issued draft regulations, inviting comments from the stakeholders, including the public by this month-end.

Kingfisher Airlines to commence services in January: The United Breweries group is entering the Indian civil aviation sector, with the launching of Kingfisher Airlines on January 15, 2005.

Bank stocks shine in weak mkts: Bank shares ignored the jump in inflation to a four-year high of 8.17 per cent, and posted smart gains on Friday.

OVL buys Vanco's 30% stake in Ivory Coast: ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), announced acquisition of US firm Vanco Energy Cos's 30 per cent stake in an exploration block off the Ivory Coast, West Africa.

We are given no protection by the govt: BSNL: BSNL on Friday took strong exception to remarks made by Ratan Tata, chairman, Tata Group.

Paper on regulators by Nov: Montek: Deputy Chairman Montek Singh Ahluwalia said the Planning Commission would bring out a paper on regulatory standards in November.

Centre to focus on core sector growth:The mid-term review of the Xth Plan will address the bottlenecks of infrastructure development.

Reliance makes strong price pitch for fixed line service: Unlike its aggressive promotion for mobile services, Reliance Infocomm is reaching out to corporates individually for the fixed line service.

Co-ops plead for a level-playing field: Seeking easing of norms in order to help them function better, the representatives also urged the Reserve Bank of India to come to their aid in times of distress.

Keep those loans out of your salary: It's an era of loans. The low interest rates have made most us think of a loan for almost everything.

Small cos brush away MNCs in dental care: Toothbrush manufacturers do not have much to smile about these days, despite increasing brush with technology, 

Sensex gains 20 points: The Sensex registered a moderate gain of 20 points in an extremely narrow movement with investors adopting a cautious stance.


Overall:

Indian Infrastructure needs a major facelift: As lack of quality infrastructure has adversely affected the flow of foreign direct investment (FDI),said Montek Singh
Ahluwalia, Deputy Chairman of  the Planning Commission.

7 foreign tech agreements okayed: The government approved seven proposals of foreign technology collaboration, franchise agreement and industrial licence
including those of HPCL and ITC.

Centre to focus on core sector growth: The mid-term review of the Xth Plan will address the bottlenecks of infrastructure development.