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Business & Economy
II Sc will be MIT of the East,
thanks to grant, enterprise
What is India News Service,
Monday, 22 March 2005, 1500 hrs IST
Union finance minister P Chidambaram may have
blessed the Indian Institute of Science (IISc) with Rs 100 crore for upgrading
it to be the Massachusetts Institute of Technology (MIT) of the East. But IISc
was already gearing up to be one all this while, and most important, with its
own resources!
The various arms of IISc, like the Advanced Bio Energy Technology Society (ABETX),
the Society for Innovation and Development (SID), the Centre for Scientific and
Industrial Consultancy (CSIC) and others put together have been generating
from the market Rs 35 crore annually - about 30-40 percent of the total
operational expenses of IISc - for sometime now, says Parameshwar P Iyer,
associate chairman, CSIC. His department itself generated Rs 8 crore last
calendar year through technology consultancy to the world\92s industries. SID
generated about Rs 10 crore and ABETX, Rs five crore through technology
transfer.
'India
poised for 7-8 p.c. growth': Exuding
confidence, the Prime Minister, Manmohan Singh, today said India was poised to
deliver 7-8 per cent economic growth in the next fiscal and promised measures
and policies that would make it possible.
Leyland Stag to ply passengers to Muzaffarabad:
The buses to ply on the Srinagar-Muzaffarabad road will be provided by Ashok
Leyland Ltd. The passengers would enjoy the ride on Leyland\92s Stag vehicles
till the Kaman Post on the Zero Line along the Line of Control, which they have
to cross by foot to the other side where a waiting bus will take them to their
destination.
ONGC
plans Rs 4000-cr refinery in Rajasthan:
State-owned Oil and Natural Gas Corp is planning to set up a Rs
4000 crore refinery in Barmer in Rajasthan, the site of recent oil discoveries
by Cairn Energy of UK.
Mallya
buys SWC for Rs 1,300 crore: The
two-decade-long relentless battle is over. The UB group owned by Vijay Mallya
has decided to acquire a 54.54 percent stake in Shah Wallace.
Essar
Oil to set up 2,500 retail outlets:
Essar Oil Ltd (EOL) is also setting up a 10.5 million tonne per annum capacity
refinery at Vadinar in Gujarat.
netCustomer
begins operations: IT firm netCustomer Inc today launched its centre in
Noida, set up with an investment of $ 2 million, and said it will hire 700
persons over the next one year in India to service its global clients.
Airport
charge hike capped at 10-15%: With
a view to protecting airport users against any sudden spurt in rates, the
permissible increase in airport charges will be capped at 10 per cent and 15 per
cent, respectively, in the first and second year of the successful bidders
taking charge of the Mumbai and Delhi airports.
LIC
surplus at Rs 10,988 crore: Public sector monolith Life Insurance
Corporation (LIC) increased its surplus by over 12.5 per cent to Rs 10,987.60
crore during 2003-04. Its assets overtook the Rs 4,00,000-crore mark during the
same period.
West
Bengal presents Rs 5 crore deficit budget:
West Bengal finance minister Ashim Dasgupta presented the state budget for
2005-06 and projected a deficit of Rs 5 crore.
Air
Deccan links Delhi with Kolkata, Hyderabad:
Bangalore-based budget carrier Air Deccan has announced the launch
of two brand-new Airbus A-320s from March 27.
Business papers
Business Standard
Economic Times
Business Line
Financial Express
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