Govt to monitor FDI inflows more strictly
New Delhi: The government has started monitoring FDI inflows more strictly as the approval mechanism liberalises. The government is considering a proposal to incorporate a commitment by the FDI entity’ to provide periodic data to the government on various forms in applications to the Foreign Investment Promotion Board (FIPB).

The government may also make registration compulsory for all FDI entities. The Department of Economic Affairs (DEA) is expected to soon give its nod for the compulsory registration of FDI entities, government sources said. Currently, unincorporated entities that accept FDI pose hurdles in FDI assessment. The proposal to make registration mandatory for all FDI entities has been pending with the DEA for quite some time now.
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Industrial growth rises to 5.7 per cent in June
New Delhi: The index of industrial production (IIP) registered growth of 5.7 per cent in June 2003 against a 4.5 per cent growth in June 2002.

Manufacturing, accounting for 80 per cent of the index, grew 5.8 per cent in June this year as against 4.2 per cent in June 2002. Among other sectors that led to the growth were non-cotton textiles and transport equipment, which grew over 25 per cent.
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Mashelkar report proposes death for producers of spurious drugs
New Delhi: The interim report on tackling the spurious drug issue has endorsed the Union Health Minister, Ms Sushma Swaraj's suggestion that manufacturers of spurious drugs should be given the death penalty.

The primary recommendation of the report from the expert committee instituted under Dr R.A. Mashelkar, Director General, Council of Scientific and Industrial Research (CSIR) said, "The penalty for sale and manufacture of spurious drugs that causes grievous hurt or death be enhanced from life imprisonment to death and a fine of Rs 1 lakh or three times the value of drugs seized, whichever is more."
The report added that, "Manufacturing spurious drugs is equivalent to mass murder and, in this case, there is no justification. It is sheer greed that perpetuates the trade. Even countries such as the US are framing rules to deal with the problem, but our law will be the most stringent in the world," Ms Swaraj told mediapersons.
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