Business Line Twenty Years Ago Today

june 9, 1997

Plan panel for transferring 115 schemes to States

The Planning Commission has finalised a proposal for transferring 115 of the existing 179 Centrally Sponsored Schemes to the States in line with the principles of “cooperative federalism” outlined in the United Front’s Common Minimum Programme. The proposal is slated to come up for discussion at the Panel’s full-body meeting to be convened by the PM, Mr. I.K. Gujral, on Monday. The blueprint drawn up by the Commission’s Rural Development Division envisages the Centre retaining just 64 schemes, which accounted for a quarter of the total outlay of Rs. 16,138 crores on CSS during 1996- 97.

100% power cut on Kerala industries from today

In the absence of an accurate forecast with regard to the onset and extent of the monsoon showers and perturbed at the dwindling storage position in the State, the Kerala State Electricity Board has slapped 100 per cent power cut for extra-high tension, high tension and low tension consumers in the State. The situation had entailed a premature review of the contingency generation and consumption schedule it had prepared expecting a normal June 1 break of the monsoon over the Kerala coast.

‘RBI to study Tarapore report carefully’

RBI Governor, Dr. C. Rangarajan, has said that the Bank would carefully examine the Tarapore Committee recommendations on capital account convertibility of the rupee before it takes any decision on it. The governor, who made a brief reference to the panel’s recommendations on free rupee convertibility at an inter-face session with exporters/SSI entrepreneurs here on Sunday, pointed out that the approach to achieving the capital account convertibility should be in stages and not at one stroke.

Published on June 08, 2017


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