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States cool to rice levy option
States have drawn a blank to the Centre’s recent suggestion to make levy on rice optional for traders and millers. So far, no State has shown any intention to exercise this option. The Centre’s suggestion was aimed at slowing down the pace of rice procurement in the light of the Food Corporation of India’s burgeoning foodstocks of which rice alone accounts for about 17.5 million tonnes now. Five non-rice consuming States of Madhya Pradesh, Uttar Pradesh, Punjab, Haryana and Rajasthan were given the choice to make levy on rice optional.
Deepen reforms, IMF tells India
The IMF in its latest updated ‘World Economic Outlook’ has called upon India to deepen its economic reforms. It says: “In India, the recovery gathered momentum in 1994 as the economy expanded by five per cent. Efforts to bring down inflation were thwarted by a substantial increase in money growth, induced partly by capital inflows. Continued fiscal consolidation is required to reduce the burden on monetary policy of containing inflationary pressures, to lower public indebtedness and bolster national savings.”
PM unveils Pace-plus’
The Prime Minister, Mr. P. V. Narasimha Rao, on Monday formally unveiled the ‘pace-plus’ parallel processing computer, developed by the Defence Research Development Organisation’s (DRDO) Advanced Numerical Research and Analysis Group (Anurag) here. Speaking on the occasion, Mr. Rao highlighted the importance of the information technology to India and complimented the scientists and engineers of Anurag for developing the system. He stressed the importance of self-reliance in advanced technologies.
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