The Union Agriculture Minister, Mr. Balram Jhakar, today announced that farmers would be granted a 50 per cent subsidy on drip and sprinkler irrigation subject to a maximum ceiling of Rs 15,000 per hectare. The subsidy will be granted to all farmers as long as their holdings conform to the land ceiling laws of different States. Addressing a news conference here today, the Minister said the subsidy would be 75 per cent for agriculturists belonging to scheduled castes and scheduled tribes. The proposal has been approved, in principle, by the Prime Minister and will shortly be vetted by the Cabinet Committee on Economic Affairs, he said.

Cincinnati to take over Widia India

Cincinnati Milacron Inc., Ohio, will be acquiring Krupp-Widia GmbH from Fried. Krupp AG Hoesch-Krupp. The purchase will include Widia India Limited in which Krupp Widia GmbH through its 100 per cent subsidiary Meturit AG, has a 51 per cent shareholding. The transaction is expected to be completed by February 1, 1995. Krupp AG’s decision to hive off its machine tools division follows the company’s policy of limiting its presence to its core competence areas, namely steel. Krupp-Widia accounted for just under four per cent of the turnover of Krupp AG and was considered to be too insignificant, according to reliable sources.

Panel report on bank recruitments soon

The D. R. Mehta Committee, appointed to look into the existing recruitment method for banks staff and inter-bank officer mobility, is likely to recommend a drastic pruning in the number of Banking Services Recruitment Boards (BSRB), say sources.

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