Long-term debt reaches Rs 1,46,226cr mark
DELHI: India's long-term debt trebled to Rs 4,51,961 crore in the last 10 years from Rs 1,46,226 crore in March 1991.

According to a recent status report on India's external debt position, the long term debt in dollar terms went up nearly 29 per cent to $96.8 billion in March 2001 from 75.25 billion dollars in 1990-91.

While the overall debt has crossed the 100 million dollar mark during end-March 2001, short-term debt declined to $3.5 bn in March 2001 from $8.5 bn during March 1991.

Total debt from multilateral agencies increased to $31.1 bn by March-end 2001 and accounted for 31.0 per cent of the total external debt.
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Kerosene to cost Rs 1.10/litre more
Mumbai: The government has decided to hike the kerosene price by Rs 1.10 per litre from April 1, 2002.

While the government is keen to slash the subsidy on kerosene, there is no immediate plan to prune the subsidy on domestic LPG cylinders. The government subsidises LPG by 40 per cent.
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Fiscal deficit may exceed 4.7%
Kolkata: The fiscal deficit for the year 2001-02 is likely to exceed the targeted 4.7 per cent of GDP with 'dismal' tax revenue collection and steady rise in non-plan expenditure, according to the Fitch Ratings India.

The fiscal deficit during April-October, 2001 has already touched Rs 63,383 crore, which is 54.5 per cent of the target of Rs 1.16 trillion set for fiscal 2001-02.

The figure during the same period last year was Rs 50,899 crore - 45.7 per cent of the target.
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Non-life majors plan foray into energy venture
Mumbai: New India Assurance, United India, Oriental Insurance, and National Insurance are joining hands to float an exclusive subsidiary for tapping the domestic energy business.
Fifty per cent stake in the joint venture will be offered to the energy majors and a couple of international reinsurance companies. The authorised capital of the company is proposed at Rs 500 crore with the paid up capital at 200 crore.
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Maharashtra moots steps to cheer up beer sales
Mumbai: The Maharashtra government proposes a host of concessions to the beer industry. The state government has offered a cut in the excise duty on mild beer from the present level of 100 per cent to 75 per cent of the production value, three times MRP of the production value instead of the current 3.35 times, reduction in export levy from Rs 2 per bulk litre to Re 1 per bulk litre, increase in import levy from Rs 3 per bulk litre to Rs 4 per bulk litre and dilinking of beer from spirit.
The government projects a revenue loss of Rs 20 crore on account of these measures.
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Single-window India portal mooted
New Delhi: The planning commission has proposed an India portal involving an expenditure of Rs 100 crore to serve as a one-stop destination for information on government functioning and as a single window for delivery of government services.

The commission has also recommended spending Rs 600 crore on creating a citizens database through smart cards and IDs. According to a report of the working group on convergence and e-government, the smart card could be used as a multipurpose card, which will help the citizen interact for utilities and services, make bill payments, electronic voting, obtain ration cards, passport and driving license, etc.

The working group has recommended that the government earmark Rs 2,700 crore in addition to the 3 per cent plan outlay of each ministry for e-governance and convergance projects during the 10th Five Year Plan (2002-2007).
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Maharashtra submits Navi Mumbai airport plan
New Delhi: Maharashtra chief minister Vilas Rao Deshmukh has presented the techno-economic feasibility report on the proposed airport at Navi Mumbai to civil aviation Minister Syed Shahnawaz Hussain.

The Chief Minister said that 350 hectares of land for the project had been identified which is in the possession of the City and Industrial Development Corporation (CIDCO). CIDCO itself has prepared the report. The length of the airport is expected to be 3,700 metres.
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