INSAT-3C launched
Bangalore: Communication satellite INSAT-3C was successfully blasted into space by European Launch Vehicle, Ariane-4, from the French Guyanese spaceport of Kourou on 24 January.

The Rs 250 crore satellite with a designed 12-year mission life, built by Indian Space Research Organisation (ISRO), would replace the ageing satellite INSAT-2C.

INSAT-3C, when operational will provide telecommunications and TV coverage over the Indian subcontinent through 24 C-band transponders, six extended C-band transponders and two S-band transponders. It also has a transponder dedicated to mobile communications services.
Back to News Review index page  
Govt to free petrol, diesel prices from April
New Delhi: The government will free their pricing of petrol and diesel on dismantling of the administered pricing mechanism from April 1.

While the PDS kerosene and domestic LPG would continue to be subsidised, the oil companies would be free to fix the retail consumer prices of petrol and diesel.

While post-APM Government will fix the uniform ex-depot/ bottling plant issue price of kerosene for public distribution system and domestic cooking gas to provide 33.3 and 15 per cent subsidy respectively, oil companies will be given freedom to fix their own consumer price, margins and commissions.

Post-APM, the consumer prices of petrol and diesel would be fixed at import parity level and would be the summation of the landed cost at the nearest port location, applicable customs duties, actual freight from the port location to the market, local taxes and distribution cost.
Back to News Review index page  
CBI books J&J for cheating
New Delhi: CBI has registered a case against two Mumbai-based firms, including multinational Johnson & Johnson, for allegedly causing Rs 50-crore loss to the government, besides cheating consumers by overpricing drugs.

Johnson & Johnson was found to be allegedly availing of exemption from price approval provided to small scale drug units by fraudulently floating a small-scale unit N R Jet Enterprises and showing that such drugs and medicines were not manufactured by it.

The CBI found that Jet Enterprises was controlled by employees of Johnson & Johnson and some of the products being manufactured by it were earlier being produced by the multinational.

The CBI alleges that one such medicine Raricap was earlier marketed by Johnson at a retail price of Rs 16.24 per 40 tablets as fixed by the government under the provisions of the Drug Price Control Order 1995. However, the said product is being now manufactured by Jet Enterprises and is being sold at a retail cost of Rs 55.
Back to News Review index page