US to lift curbs on handlooms from India

The United States has agreed to remove all restrictions on handloom exports from India, paving the way for resumption of negotiations on textiles, which were stalled last month. Following the decision to remove restrictions on handlooms, India may now allow entry of high value textile imports from the US. The Commerce Minister, Mr. Pranab Mukherjee, told newsmen here, after his meeting with the US Trade Secretary, Mr. Mickey Kantor, “we have decided to start the negotiations on the basis of mutual advantage.”

PLI may cover rural public too

The Government will shortly initiate steps to allow postal life insurance (PLI) to transact life insurance business in the rural areas, among the general public, which could result in the tapping of new business worth about Rs. 3,000 crores to Rs. 4,000 crores... The move to open life insurance business in the rural areas among the general public follows a consensus in the Government over the recommendations made in this regard by the Malhotra Committee on reforms in the insurance sector.

Decision on six sick public sector units soon

Final decisions on the fate of at least six chronically sick public sector undertakings (PSUs) under the Department of Heavy Industry are imminent. Nudged by the Board for Industrial and Financial Reconstruction (BIFR) to avoid further delay, the Centre has now expedited the process of firming up its views on their future... According to official sources, the Department has forwarded status reports on six more PSUs to the Cabinet for a final view based on economic and political considerations.

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