|
Govt
looks for more FTAs with SAARC nations
New Delhi: India has framed a draft model of the
first preferential free trade agreement (FTA) with Sri
Lanka to facilitate such negotiations with other countries
in the South Asian Association for Regional Cooperation
(SAARC) region and elsewhere. The agreement aims at providing
duty-free access to various products covered by it, subject
to the rules of origin criterion, commerce ministry officials
were quoted as saying. They explained that the final draft
of FTAs will, nevertheless, depend on the nature and outcome
of negotiations.
The
FTA with Lanka prescribes a review of the progress made
in implementation so as to ensure that benefits of trade
expansion flowing from it accrue to both the countries
equitably. The review is also designed to further enhance
bilateral trade and investment, besides addressing procedural
issues, the officials add.
Back
to News Review index page
Jaswant
for passage of IDBI Corporatisation Bill
New Delhi: Indian Finance Minister Jaswant Singh,
while addressing the members of the parliament, said the
government will not be able to guarantee the health of
IDBI if the Bill for corporatisation of the Industrial
Development Bank of India (IDBI) is not passed in this
session. "The Industrial Development Bank (Transfer
of Undertaking and Repeal) Bill, 2002, was sent to the
parliamentary standing committee last winter, and if we
do not pass it in this session and carry it forward to
the winter session, a full year will pass. In that case,
I can give no guarantee about the health of IDBI."
Singh
said IDBI’s non-performing assets (NPAs) worth over
Rs 15,000 crore have been inherited from the past, leading
to a decline in its lending abilities. Singh found support
from Sudip Bandopadhyay of Trinamool Congress, who insisted
that the Bill should not be carried over to the next session.
Patil expressed surprise that the government felt it had
no other means to improve IDBI’s health. While Singh
claimed that the recommendations of the standing committee
had been accepted by the government, Patil and Pal contested
that.
Back
to News Review index page
|
