Agriculture
Wheat prices plunge below MSP
IN what is seen as an unprecedented development, open market prices of wheat have crashed below minimum support price levels right in the national Capital and areas around its vicinity.
`Policy support to pulses, coarse cereals not adequate'
THE Government needs to provide adequate policy and institutional support to production of pulses and oilseeds in semi-arid areas to complement efforts of scientists in raising productivity levels in these crops, according to the Director-General of the
International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), Dr William D. Dar.
Corporate
Tribunal upholds SEBI order on BP Amoco offer price
IN a ruling favouring Indian investors, the Securities Appellate Tribunal (SAT) today upheld the right to ``equal benefit'' to all shareholders in the event of an acquisition, directly or indirectly. The ruling would benefit shareholders of companies tha
t have foreign parents, in the event of takeover of the parent by another company.
Satyam seeks hike in FII stake to 49 pc
IN a significant development, IT major Satyam Computer Services Ltd has decided to seek enhancement of ceiling of investment by foreign institutional investors (FII) from the existing 40 per cent to 49 per cent.
CII to set up task force on capital market soon
THE Confederation of Indian Industry (CII) will soon set up a national task force on the capital market for suggesting reforms in the domestic stock and securities markets.
Economy
Enron not to affect India ratings: S&P
INDIA'S sovereign rating would remain unaffected by aggravation of the Enron dispute, according to international rating agency Standard & Poor's.
Budget session ends
THE Budget Session of Parliament has come to an abrupt end on Friday, eight days ahead of its scheduled date of adjournment.
Panel to streamline dumping probes formed
THE Government today announced the formation of a 15-member committee under the Chairmanship of Mr L.V. Saptharishi, Additional Secretary and the Designated Authority for Anti-Dumping and Allied Duties, Ministry of Commerce and Industry, to facilitate an
d streamline anti-dumping investigations.
PSU
Rs 70-cr loss at Balco plant
THE loss of production of aluminium at Bharat Aluminium Co Ltd (Balco) due to non-operation of the Korba plant after disinvestment is estimated to be Rs 70 crore up to April 15.
Policy
N.K. Singh moved from PMO to Plan panel
THE Prime Minister, Mr Atal Bihari Vajpayee's Officer on Special Duty (OSD), Mr N.K. Singh, who has been under siege from the Opposition as well as within the Sangh Parivar ranks, has been shifted to the Planning Commission as a member. The move came bar
ely hours after Parliament was adjourned sine die.
Concept paper on media council
THE Government has decided to prepare a concept paper on the composition, powers, functions and source of funding for the proposed Media Council.
Politics
`Amend statute to allow 3-member election panel'
THE Chief Election Commissioner, Mr M.S. Gill, has argued that the structure of the Election Commission should be like that of the Supreme Court with a panel of not more than three commissioners.
Power
First unit of Srisailam power project commissioned
THE first unit of the proposed 6 x 150 MW each generating units at the Rs 2,325-crore Srisailam Left Bank Hydro Power Project has been commissioned and synchronised with the State power grid on Friday.
DPC seeks names for conciliator
DABHOL Power Company has written to the Centre seeking six names for selection of a mutually acceptable conciliator to kick-start the conciliation process.
SSI
Export-obligation norm not for SSI dereserved items
THE Government has announced that the export-obligation clause for non--small scale units producing items reserved for the small scale sector would automatically stand removed once an SSI item is dereserved.
States
Tirupur exporters welcome Budget
COIMBATORE: The fine-tuning to the so-called `growth-oriented' Union Budget has been widely welcomed by the industry.
Tollywood stars add colour to Bengal hustings
SHE played the leading lady in many a movie directed by Satyajit Ray, Mrinal Sen and Ritwik Ghatak. But today Madhabi Mukherjee, pushing 60, is taking her cues from another director - Bengal's own firebrand politician, Ms Mamata Banerjee.
Stocks
Sensex plunges 134 points on carry-forward ban move
IT was yet another `Black Friday' for punters at the major bourses today as the SEBI panel's announcement on Thursday recommending a ban on carry-forward trading took brokers by surprise and caused panic selling.
Govt accepts J.R. Varma's resignation
THE Government has accepted the resignation of Mr J.R. Varma as a full time member from the board of the Securities and Exchange Board of India (SEBI).
Telecommunications
PM clears limited mobility -- Long distance revenue sharing at 5 pc
THE Prime Minister, Mr Atal Bihari Vajpayee, has given his consent to the wireless in local loop (WLL)-based limited mobility service, subject to certain changes in long distance revenue sharing arrangement and the rollout obligations, as suggested by th
e Group on Telecom and IT (GoT-IT).
Cell operators disappointed
THE cellular industry on Friday expressed its ``dismay'' and ``deep sense of disappointment'' at the recommendations of the Group on Telecom and IT (GoT-IT) on the issue of limited mobility.
Basic operators oppose decision on long distance revenue sharing
THE basic telecom operators have welcomed the decision to allow wireless in local loop-based limited mobility, but opposed the move to slash their long distance revenue share.
Telecom Ministry flayed for failing to hit targets
THE Ministry of Communications has been pulled up by the Estimates Committee for non-fulfilment of its targets in providing universal coverage of telephones, especially in the rural areas.
