The Hindu Business Line : Wednesday, February 06, 2002

Grain curbs off, sugar freed, new policy for drug sector
THE Government today cleared a host of long-pending reform measures, especially in the agriculture and pharma sectors, thus fulfilling the promises made in the 2001-02 Budget. On top of the proposals cleared by the Union Cabinet on Tuesday was ... More

`Country rating review after Budget'
MUMBAI: Moody's Investor Service would review the country's rating after the Budget. "We would be watching the Budget closely. We would definitely assess its impact on the country's economy,'' said Mr Chester Murray, Senior Managing ... More

GDP growth estimated at 5.4 pc -- Agriculture, services come to the rescue
THE Government expects the economy to grow by 5.4 per cent in the current fiscal. According to the `advance' estimates of national income for 2001-02, released by the Central Statistical Organisation (CSO) here on Tuesday, the country's real ... More

ENVIRONMENT

Managing hazardous wastes
Do not, under any circumstances, allow yourselves to copy exactly what the US has done. The US is an extremely litigious society and the regulatory agencies know that they have balanced the conflicting political objectives of the industrial ... More

PETROLEUM

IBP divestment a 'major boost' for BPCL, HPCL market ratings
IBP's disinvestment process, which concluded on Tuesday with the official announcement granting 33.58 per cent stake to IOC, is seen to improve the ratings for upcoming candidates, BPCL and HPCL. With IBP shares getting a premium of 80 per ... More

PHARMACEUTICALS

Pharmaceutical policy gives fillip to R&D
THE much-awaited Pharmaceutical Policy 2002 has been cleared by the Cabinet. With a pro-research and development (R&D) slant, the policy seeks to create an environment conducive to channelising higher levels of investment into R&D in the ... More

Industry lauds R&D orientation
THE pro-R&D pharmaceutical policy received an all-round applause from the industry. Mr B.K. Raizada, Senior-VP, Ranbaxy Laboratories Ltd, told Business Line that the policy was a positive development. With the preliminary information ... More

POWER

SPV on forest land to expedite power projects
THE Union Power Ministry has set up a special purpose vehicle (SPV) to effect compensatory afforestation to facilitate speedy clearance for new power projects, according to Ministry sources. Sources told Business Line from Delhi that ... More

STEEL

OECD meet on steel

SUGAR

Control on sugar to go next fiscal
THE Government has decided to totally decontrol the sugar industry during the coming fiscal, subject to futures trading becoming fully operational. Currently, the curbs on the industry are two-fold. The first relates to the obligation on mills ... More

TECHNOLOGY

Forensic network in offing
A NATIONAL network, which will connect the forensic institutes in the country with the police and judiciary for optimum utilisation in crime detection and management, is on the anvil. Being put in place by the Directorate of Forensic Science, ... More

INDUSTRY ASSOCIATIONS

Insurance funds for core sector urged

Populism flayed

DISINVESTMENT

Tatas pocket VSNL for Rs 1,439 cr, IOC gets IBP
INDIAN Oil Corporation Ltd and Tata Sons Ltd have won strategic control of IBP Co Ltd and Videsh Sanchar Nigam Ltd (VSNL) respectively in a major disinvestment event, fetching the Union Government a neat Rs 2,592.93 crore and signifying a ... More

Funds tied up: Tatas
THE Tatas would be acquiring the 25 per cent equity stake in Videsh Sanchar Nigam Ltd (VSNL), through a Special Purpose Vehicle (SPV). The main participant companies in the SPV, will be the Tata Group's main holding company, Tata Sons, and Tata ... More

Divestment panel for staff buyout in RITES, PEC
THE Disinvestment Commission has recommended a management-employee deal for a 100-per cent buyout of Government holding in Projects and Equipment Corporation Ltd (PEC) while a similar deal for a minimum buyout of 51 per cent stake in Rail India ... More

Tatas hit jackpot with VSNL
THE Tata group seems to have hit a jackpot by acquiring strategic stake in Videsh Sanchar Nigam Ltd (VSNL). According to analysts, with one stroke, it will be able to be a dominant player in the international long-distance (ILD) and Internet ... More

The Tata `relief' for VSNL staff
RELIEVED! That's the sentiment echoed by several employees of Videsh Sanchar Nigam Ltd (VSNL) in reaction to the Tatas acquiring 25 per cent stake in the telecom giant. And this relief stems from attributes such as job security, strong human ... More

Open offers to be made at bid price
INDIAN Oil Corporation (IOC) and Panatone Finvest (a Tata group company) will have to make open offers for buying 20 per cent stakes of IBP Co Ltd and VSNL held by the public at their respective bid prices of Rs 1,551.25 per share for IBP and Rs ... More

Govt happy with VSNL price: Mahajan
THE Government is "happy" with the price it received from the Videsh Sanchar Nigam Ltd (VSNL) disinvestment announced on Tuesday, according to Mr Pramod Mahajan, Minister for Communication and Information Technology & Parliamentary ... More

Sale of 3 ITDC, HCI assets okayed
THE Cabinet Committee on Disinvestment (CCD) on Tuesday cleared the sale of three hotel properties belonging to the India Tourism Development Corporation (ITDC) and Hotel Corporation of India's (HCI) Centaur property at Mumbai airport for a total ... More

`A boost to privatisation'
WELCOMING the Cabinet nod for the disinvestment of VSNL and IBP, the Confederation of Indian Industry (CII) stated that it would give an impetus to the privatisation process, besides sending positive signals and improving the investment ... More

Unions oppose privatisation of Coir Board showrooms
THE Union Government's decision to privatise Coir Board showrooms and its manufacturing unit, Hindustan Coir, has been opposed by its employees unions. The Centre had directed the board to privatise its show rooms, barring a few in the metros, ... More

Downsizing fears fade at IBP
A FRISSON of excitement crackles in the corridors of 34A, Nirmal Chunder Street — the location of IBP & Co Ltd's head office. The majority of the employees greet with cheers the news of Indian Oil Corporation (IOC) having become the new ... More

FOREIGN DIRECT INVESTMENT

Breach of contract will hit US investments: Blackwill
IF American investors come to believe that India does not protect the sanctity of contracts, it will be a deathblow for further American investments in India, according to the US Ambassador to India, Mr Robert Blackwill. Answering questions at ... More

INTERVIEW

Restructure State finances or perish: Chelliah
`The State finances have not been properly managed not only by the States but also by the Planning Commission and the Central Government, which include economists who do not see States as autonomous, responsible organisations which have to take care of debt by themselves.' More

TOURISM

TCS to help develop AP Buddhist sites
TATA Consultancy Services, the software services major, on Monday signed up with the Andhra Pradesh Government to prepare a tourism Master Plan focussed on development of the Buddhist circuit in the State. Under the terms of agreement, TCS will ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in

Restructure State finances or perish: Chelliah

Bajaj Auto aims to pip Hero Honda

Tatas hit jackpot with VSNL

Coffee output slide likely to continue

Grain curbs off, sugar freed, new policy for drug sector

GDP growth estimated at 5.4 pc -- Agriculture, services come to the rescue

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Jan. 27-Feb. 2
Economic growth likely to be below 5 pc: CEO poll

Bowling over `Star-stuck' advertisers

Fiscal deficit up 37.7 pc

Viewers must have choice of channels, says panel

GDP growth pared to 4 pc

Tatas, Reliance bid for VSNL

Taiwan wooing India Inc with hardware tech

Govt moves to speed up APM regime phase-out