INTERNATIONAL Ex-RBI official appointed to top post in IMF Washington: Anoop Singh, a former advisor to the Governor of Reserve Bank of India, has been appointed Director for Special Operations in the International Monetary Fund (IMF).
Aircraft manufacturers eye Asian runways Singapore: Aircraft manufacturers see Asian runways paved in gold, and are forecasting a significant rise in demand for aircraft in the region over the next decade.
NATIONAL
Railway Budget boosts SENSEX by 99 points Mumbai: Enthused by the market-friendly Railway budget for 2002-03 and Economic survey 2001-02 that called for far reaching economic reforms, stocks rallied sharply lifting the SENSEX past 3700-level at close on the Bombay Stock Exchange (BSE) on February 26.
Shot in the arm for TUs, bank unions join stir Kolkata: The United Forum of Bank Unions (UFBU), an umbrella organisation of all nine bank employees' union, on February 26 announced that it would join hands with Central Trade Unions and Federations to 'fight' against government's 'so-called' labour reforms.
‘FDI in hardware moving away from India’ New Delhi: India is losing out to its neighbours like Taiwan and China in attracting foreign investment in hardware sector mainly due to tariff and other policy deficiencies in contrast to the country's continued dominance in the export of software, Economic Survey said.
UTI must be brought under SEBI: Economic Survey New Delhi: The Economic Survey for 2001-02 on February 26 said the beleaguered Unit Trust of India (UTI) should be brought under the ambit of Securities and Exchange Board of India (SEBI) within the coming months, in view of significant loss in its market share in last five years due to repeated problems in the US-64 scheme owing to administered pricing.
Carriers AI, IA inducted for privatisation New Delhi: Buoyed by big ticket privatisation of corporations like VSNL and IBP, the government has once again inducted national air carriers Air India and Indian Airlines along with 16 other PSUs for privatisation after March 31, 2002.
'Economic reforms have reduced poverty levels' New Delhi: The number of poor came down by 60 million to 260 million in the last seven years ending 2000-01 and the trend is likely to continue due to slowing down of population growth coupled with improving prosperity, The Economic Survey (2001-02) said on February 26.
Govt told to deepen eco reforms for higher growth New Delhi: Economic Survey 2001-02 on February 26 asked the Government to further deepen the economic reform process for achieving higher growth and said that crucial issue of fiscal imbalance needed to be addressed urgently to save the economy from the deleterious impact of high deficit.
Despite disinvestment select PSUs do well New Delhi: Despite the current privatisation spree, the profitability of about 240 state-owned enterprises continued to improve, the Economic Survey for 2001-02 said.
Bearish trends to persist in Indian bourses: Survey New Delhi: The Economic Survey (2001-02) on February 26 cautioned that bearish sentiments in stock markets would continue for some time but complimented the Indian bourses for showing resilience in the face of worldwide slowdown and terrorist attacks in US.
Inflation fall impact of liberalization: Survey New Delhi: In a compliment to government's economic reform policies, the Economic Survey on February 26 said the inflation dipped to a two decade low during the current fiscal "as a manifestation of globalisation and liberalised trade regime".
RPF likely to provide security for passengers New Delhi: Concerned over terrorist attacks, government is considering a proposal for amending relevant Acts to utilise the services of Railway Protection Force (RPF) personnel in providing security to passengers on running trains and stations.
New computer ticketing for unreserved passengers New Delhi: Railways will soon develop a computer-based ticketing system under which passengers could buy unreserved tickets even from locations other than boarding station
‘Modest’ hike in rail fares to net Rs 1,360 cr New Delhi: Railway Budget for 2002-03 proposes a modest hike in passenger fares and rationalisation of freight tariffs to net Rs 1,360 crore a year.
Mounting fiscal deficit hurdle to growth: Survey New Delhi: Projecting a low 5.4 per cent growth this year, Pre-Budget Economic Survey on February 26 warned high growth would be difficult without reducing mounting fiscal deficit, agriculture and tax reforms including a re-look at exemptions, cut in small savings rates and subsidies, besides big ticket privatisation.
Selective buying restricts SENSEX in 17-pt range Mumbai: The SENSEX opened on a firm note and later remained trapped in only about 17 point-range at early stages on the Bombay Stock Exchange (BSE) on February 26 as speculators continued to make selective buying on the back of consistent net purchases by foreign institutional investors (FIIs).
