PM for voluntary job quota in private sector
Mumbai: The Prime Minister, Dr Manmohan Singh, has said that he favoured a national policy on job reservation for the weaker sections in the private sector, though not by legislation.

Addressing a press conference here during his maiden visit to Mumbai since he assumed office, Dr Singh said, "The country should ensure that weaker sections like scheduled castes, scheduled tribes, minorities and women get a fair and square deal."
The Prime Minister ruled out the introduction of any legislation to enforce job reservation in the private sector.

Referring to the controversial Dabhol Power Project, the Prime Minister said, that the UPA Government has set up a committee of ministers headed by the Union Defence Minister, Pranab Mukherjee, to look into the ways and means to restart the Dabhol project.

Addressing a gathering of industrialists, Dr Singh said more tax reforms would be announced in the next Union Budget as the UPA Government did not have enough time to work on the last Budget and, therefore, could not bring out several changes that it had wanted to.
Back to News Review index page  
Oil price hike likely by Oct.15
New Delhi: With international crude prices heading for new highs, the Petroleum Minister Mani Shankar Aiyar has hinted at a possible domestic hike in fuel prices by October 15.

However, he assured that the government will continue to protect domestic consumers from the surge in crude prices.

Petrol and diesel prices were last raised on August 1 and government has not allowed the national oil companies to raise prices despite rise in cost.
Back to News Review index page  

Indo-German bilateral trade target set at $10 billion
New Delhi: India and Germany have resolved to enhance their annual bilateral trade to $10 billion in the medium-term from the current level of $5.4 billion achieved in 2003-04.

Stressing the need for further expansion of trade and economic cooperation between India and Germany, Kamal Nath said that the Indian Government would play an enabling and facilitating role to help businesses on both sides take advantage of the liberalised trade and investment regime.

In this context, he also said that India has a unique advantage in services sector in terms of a very large pool of skilled human resources. This combined with Germany's technological skills could give a major push to bilateral ties, Mr Kamal Nath said.

Meanwhile, the German Chancellor, Gerhard Schroeder, addressing the Indian industry in a session organised jointly by the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI), said that India was now at the top of agenda for German companies and assured the Indian industry that Germany would invest in India.

He pointed out the entertainment industry and the infrastructure sector as potential areas, where German companies would be keen to invest.

The Chancellor, who is accompanied by a 22-member business delegation, said a large contingent of Germany's small and medium enterprises, or `Mittelstand,' would visit India early next year to explore investment opportunities, according to a CII statement.

He said the German Mittelstand, a backbone for his country accounting for 70 per cent of the jobs, would be a fair partner to India and not only seek to sell its products, but also bring state-of-the-art technology.

The German Chancellor arrived here on Wednesday, kicking off a tour of India, Pakistan, Vietnam and Afghanistan to explore opportunities for German industry among Asia's fast-growing economies.
Back to News Review index page  
PM: Mumbai to be made a world-class city in five years
Mumbai: The Prime Minister, Dr Manmohan Singh said that his Government has plans to transform Mumbai into a world-class city.

"In the next five years, we want to make Mumbai the number one city people talk about when it comes to development and modernisation," he said.

Addressing the media during his first visit to the metropolis after he took over as Prime Minister, Dr.Singh said it was his dream to see Mumbai transformed into a city like Shanghai. And the Centre, he said, would render all help to the State Government to make this dream a reality. He said the Centre would focus on improving communication and urban transportation, particularly the metro-rail project.

He guaranteed additional assistance for providing adequate social and civic services such as drinking water.

Adressing the media on the eve of the state assembly elections, he said that Maharashtra played a vital role in bringing the Congress to power at the Centre and he appealed to the electorate to repeat the mandate it gave during the Lok Sabha elections. "Bring the Congress back to power and leave the rest to me," he said while emphasising his Government's commitment towards ensuring economic development in Maharahstra.
Back to News Review index page  
Railways to provide telecom services
New Delhi: The Indian railways is all set to become a player in the telecom market by considering laying optical fibres to facilitate the use of internet and broadband services. The proposal has been set into motion after a meeting between the Prime Minister Manmohan Singh and the Railways Minister Lalu Prasad Yadav.

The entry of the Railway in the telecom sector is spurred by the Prime Minister's initiative to make the Railways more viable and generate additional revenue.

The Indian Railways has one of the longest networks in the world. According to some estimates, 7000 km of optic fiber cable could be laid along the tracks to provide telephone and internet access and opening up a host of services for passengers as well.
Back to News Review index page  
Pitroda for greater autonomy of MTNL and BSNL
New Delhi: Telecom icon and member of National Advisory Council, Sam Pitroda, has said that he favours greater autonomy for state-owned telecom firms MTNL and BSNL either "individually or collectively" and said the ultimate goal should be to reduce Government holding to below 51 per cent.

He said in case of a merger, BSNL would become a public entity overnight as MTNL was already listed. The reduction in holding should be done by offering equity to the public, and not to strategic investors.

Pitroda's comments come in the wake of Government's proposal to find synergies between the two state-owned telecom companies, including the possibility of a merger.

Department of Telecom has already invited expressions of interest from leading merchant bankers and consultants to advise on the best option for synergising the operations.

On the contentious issue of hike in foreign direct investment limit in the telecom sector from 49 per cent to 74 per cent, Pitroda said the debate on concerns relating to security was "unnecessary". "Security is no longer an issue. Security matters when there is a monopoly but now we have multiple networks," he said.
Back to News Review index page  
ERMP for more accuracy in weather forecast system
Kochi: The Department of Science and Technology has proposed a national programme of Extended Range of Monsoon Prediction (ERMP) for more accuracy in long-term monsoon prediction as well as to fine-tune the weather forecasting system and has formed four working groups to look into various components in revamping the long-term monsoon prediction system.

The working groups have been asked to come up with suggestions to work out the observational system requirements for monsoon forecast extending from long-range to short-range. In long-term monsoon prediction, the possibility and nature of the monsoon showers could be predicted at least two to three months ahead. In medium range forecast, the announcements would be made 5 to 10 days ahead of the arrival of monsoon. In short-range predictions, the nature and arrival time of monsoon would be predicted within a timeframe of 24 hours to 48 hours.

Once the ERMP is set up, it is hoped that the meteorologists would be able to predict the arrival and possible variations of the southwest monsoon next year more precisely. Any attempt to perfect the monsoon prediction system in the country is of great relevance as the rains have a major role in deciding the national economic growth. It also plays a role in setting the political and development agenda of the country.

Researchers and scientists from all major weather research institutions under the Indian Meteorological Department, the Indian Space Research Organisation, the National Institute of Oceanography, Indian Institutes of Technology, the Indian Institute of Science, the Monsoon Studies Centre of the Cochin University of Science and Technology and the Andhra Pradesh University are involved in the project.
Back to News Review index page  
Chidambaram: FDI flows at highest levels in last seven-eight years
Washington D.C., USA: The Union Finance Minister, P. Chidambaram, has said that the confidence of the American investors has been "more or less completely restored."

Addressing media persons at the Embassy of India here, wrapping up his visit to Washington, the minister said that, "When you look at foreign institutional investor (FII) fund flows, May and June were negative, but July was positive, August was more positive and September has been even more positive. The largest number of FII registrations has taken place after the new Government has taken office - now the number is over 600. The largest number of sub-accounts have been opened up, since the new Government took office."

"Foreign direct investment (FDI) flows have been quite impressive. In fact, in calendar 2004, FDI flows are among the highest in the last seven or eight years," he added.
Back to News Review index page  
Technology Upgradation Fund enhanced to Rs.60,000 crore
Chennai: Shankarsinh Vaghela, Union Minister for Textiles, has said that the Government has increased the Technology Upgradation Fund (TUF) for investment in the garment and textile sector from the earlier Rs25,000 crore to Rs60,000 crore, keeping in mind the post quota regime.

The Government is committed to developing the Made in India brand, especially for handlooms, which already has a premium niche in world markets, he said, adding that India had more credibility than China.
Back to News Review index page