Inflation: Govt. to take more fiscal measures
New Delhi: The Union Finance Minister, P. Chidambaram, has said that the Government, if necessary, would take more fiscal measures to control inflation. Chidambaram said that the Government was watching the price situation and there were ample stocks of foodgrains, pulses, fruits and vegetables.

He said that inflation, measured by the consumer price index, was still 3 per cent, which was the benchmark in many countries. The Finance Minister also expressed confidence that the decision to cut duties on petroleum products would dampen the inflationary expectations.
Back to News Review index page  

Golden Quadrilateral to be ready by 2005
Mangalore: According to the Union Minister of State for Surface Transport and Highways, K.H. Muniappa, work on the Golden Quadrilateral project will be completed by December 2005,
He said that nearly 75 per cent of the work has been completed on this project. Work on the National Highway Corridor Project is progressing well, and will be completed by 2007.

Muniappa said that 156 districts in the country do not have national highways. The Centre is planning to connect these districts with national highways and work on this will begin soon. Nearly 10,000 km of roads will have to be connected with highways at a cost of Rs.10,000 crore.

Nearly 80 per cent of the people in rural areas, who live near the national highways, do not have sufficient service roads or road-underpasses. Construction of service roads by the sides of the highway and road-underpasses at frequent intervals will help in the smooth movement of cattle and tractors. The National Highways Authority of India has been informed about this aspect.
Back to News Review index page  

Truckers' strike from 21st August
New Delhi: Truckers and transport operators under the banner of the All India Motor Transport Congress (AIMTC) will go on a nation-wide indefinite strike from August 21 to protest imposition of service tax.

Terming the decision of the Finance Minister to impose a 10 per cent service tax on transporters as unfortunate, the AIMTC chief said that in 1997 the Government had imposed a service tax but later withdrew it following a nine-day strike by transporters. The then Revenue Secretary, N.K. Singh, had assured the transporters that service tax would not be imposed again, he said. Initially, transport of essential commodities would be excluded from the strike.
Back to News Review index page