Truckers end strike
New Delhi: The All India Motor Transport Congress (AIMTC) has called off their seven-day old 'indefinite' truckers strike after it reached an agreement with government on the issue of service tax and various other demands.

The two sides have decided to form a committee to ensure that the truckers do not have to pay the 10 per cent service tax levied on freight booking agents.

Announcing the decision to end the agitation, AIMTC President B S Dhumal told reporters that the committee, which would include representatives of truckers and government, would look into the issues of service tax and tax deduction at source. The committee will submit its report on the matter within two months.
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Inflation dips to 7.94 pc
New Delhi: The annual wholesale price index-based inflation rate eased marginally to 7.94 per cent for the week ended August 14 despite a surge in prices of primary articles, including fruits, vegetables, rice and wheat, and also manufactured goods, according to the data released by the Ministry of Commerce and Industry. The year-on-year inflation had touched a 3-1/2 year high of 7.96 per cent during the previous week.

The fall in the inflation rate was largely on account of a higher statistical base during the corresponding week in 2003. According to the data, the index of primary articles rose by 0.4 per cent to 192.5 points due to costlier food articles and non-food items. The food articles' group index surged by about one per cent to 188.6 points due to higher prices of vegetables (11 per cent), beef and buffalo meat (eight per cent), tea (three per cent) and jowar, masur, rice, urad and wheat (one per cent each).

The index for machinery and machine tools group rose by 0.7 per cent to 136.6 points due to higher prices of boilers, its parts and accessories (13 per cent), textile machinery parts (nine per cent), ball bearings and ring spinning and doubling frames (two per cent each) and powerlooms automatic and carding machine (one per cent each).
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World Bank to increase lending to India
New Delhi: The World Bank Group Country Strategy for India for 2005-08 provides for an increased lending programme of up to $3 billion a year in order to substantially scale up the impact of development efforts on some of the world's poorest people, being undertaken by the Government of India.

The board of directors of the Bank in Washington on Thursday discussed the new strategy involving its soft-lending window International Development Association (IDA) as also its private sector lending arm the International Finance Corporation (IFC).
As the strategy document commits the Bank Group's work in India to an increased focus on results, the strategy has identified three programme priorities covering improved Government effectiveness, support investments in people and empowering communities and to promote private sector-led growth.

In line with these priorities, the Bank's programme and lending would be expanded in such sectors as infrastructure (roads, transport, power, water supply and sanitation), irrigation and urban development (to support both accelerated growth and improved service delivery), human development (education, health, social protection) and rural livelihoods with an emphasis on community-driven approaches.
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Cheaper nuclear power on the anvil for the country
Kalpakkam: The country's nuclear establishment has promised to make available electricity at a much lower cost than power from conventional sources.

Authorities are confident that the 500-MW Prototype Fast Breeder Reactor (PFBR), under construction at Kalpakkam, will produce power for a price of Rs.3.22 a unit in the year 2011. The Rs.3.22-a-unit is calculated on the assumption that the plant would operate at 60 per cent of its capacity, but officials are confident that it would perform better. Other officials said the next set of fast breeder reactors - there are four on the anvil - will be able to produce power for a price of Rs.2.40 a unit.

Meanwhile, the site for the PFBR project is being done up to receive the Prime Minister, Dr Manmohan Singh, who will grace the occasion of the `first pour of concrete,' on Sunday. A newly formed public sector company, Bharatiya Nabhikiya Vidyut Nigam Ltd (BHAVINI), is implementing the Rs.3,492-crore PFBR project. All order for equipment would be placed on the Indian industry. Already orders worth Rs.220 crore have been placed on various companies, including BHEL, L&T and MTR of Hyderabad.
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Northern region tops in hardware exports
New Delhi: The Northern region has topped in the export of electronic hardware from the country during 2003-04, with an export turnover of Rs.2, 870 crore, according to the Electronics and Computer Software Export Promotion Council (ESC).

There has been a growth of 38 per cent in 2003-04 in electronics hardware exports from the country as compared to the previous year. For 2003-04, the total electronics hardware exports touched Rs.7,700 crore as compared to Rs.5,600 crore in the previous year. The northern region's share in the total electronics hardware exports stood at about 35.5 per cent.
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