Centre completes 25% of budgeted borrowings
Mumbai: The Reserve Bank of India (RBI) has completed 24.5 per cent of the central governments gross borrowing programme of Rs 1,42,867 crore for fiscal 2002-03. The central bank has mopped up Rs 31,000 crore through dated government securities, and a further Rs 4,000 crore through the T-bill route, taking the aggregate borrowings thus far to Rs 35,000 crore. This figure is a shade higher than the amount indicated in the dated-stock auction calendar of the RBI, given that there were private placements amounting to Rs 6,000 crore. But unlike the previous year, every dated paper is quoting below its issue price this time round.
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Karnataka unveils SEZ policy
Bangalore: Karantaka has become the third state after Maharashtra and Andhra Pradesh to unveil its own SEZ (special economic zone) policy. Under the states 12-point SEZ policy, all matters pertaining to SEZs will be looked after by an exclusive development commissioner for each SEZ. The policy has declared SEZs as public utilities and exempted developers of SEZs, industrial units and other establishments within the SEZ from local taxes and levies.
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