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Trade
deficit widens in April
New Delhi: India's exports have grown 17.2 per cent
in April 2005-06, but with imports surging by 51.05 per
cent, the trade deficit has widened to $3.85 billion.
Exports
rose to $6.56 billion during the first month of the current
fiscal compared to $5.60 billion in April 2004-05 while
imports jumped to $10.42 billion against $6.90 billion
during the same month a year ago. The trade deficit has
accordingly jumped three-fold to $3.85 billion during
April 2005 from $1.29 billion in April 2004, as per the
latest data released by government.
Oil
imports during the month rose 41.37 per cent to $3.29
billion compared to $2.33 billion in the corresponding
month last year. Non-oil imports have grown faster by
56 per cent to $7.12 billion as against $4.56 billion
in April 2004.
Exports
had surpassed the $75 billion target set last year to
touch $80 billion. Commerce Minister Kamal Nath has revised
upwards the export target for this fiscal to $92 billion
from $88 billion.
In
rupee terms, exports rose 16.7 per cent to Rs28,729 crore
in April 2005 from Rs24,618 crore in April 2004. Imports
grew 50.4 per cent to Rs45,589.46 crore as against Rs30,313
crore during the first month of last fiscal. Trade deficit
in rupee terms during the month under review stood at
Rs16,860 crore as against Rs5,694 crore in April 2004.
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Defence
ministry issues procurement manual
New Delhi: The Defence Ministry has announced the
issue of a new Defence Procurement Manual, which pertains
to recurring purchases for the armed forces, like ammunition,
but not to capital procurements, which would include items
like aircrafts, submarines etc.
To make acquisition process time bound, transparent and
free from slippages that hurt the services and leads to
controversies, the manual has incorporated the guidelines
issued by the CVC for defence procurements.
But this manual is only for replacement or recurring needs
which usually accounts for Rs26,000 crore of the defence
budget. The ministry plans to come out with another manual
for capital acquisitions like fighter aircraft and tanks,
which currently account for more than Rs34,000 crore.
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Maran
not in favour of entry fee for 3G services
New Delhi:
The Communication and IT Minister, Dayanidhi Maran, has
indicated that existing operators would not be asked to
pay an entry fee for offering third generation (3G) services,
as the Government would not like to take any step that
would drive up the cost of telecom services.
Speaking on the sidelines of a function to commemorate
150 years of telecommunication services, Maran said: "I
believe that the revolution in Indian telecom has taken
place because of low tariffs. Any decision the Government
would take will keep in mind the low tariffs. We do not
want to bring the next licence raj, as any such move will
only increase the tariffs and put the consumers at a disadvantage."
Maran's views assume significance in the light of a letter
written by the Tata group Chairman, Ratan Tata, who proposed
an entry fee of Rs1,500 crore for 3G spectrum, on the
grounds that spectrum was a scarce national resource.
Earlier, the TRAI had also recommended zero entry fee
for offering 3G services. The TRAI's views have found
support with all the telecom service providers including
Tata Teleservices.
Maran also said that some of the recommendations made
by the telecom regulator were outside the given specific
terms of reference. Maran also said that the Wireless
Planning Co-ordination (WPC) wing of the DoT was fully
equipped to handle the spectrum issue efficiently.
"WPC can handle it because it has experience of 50
years of without being controversial and has remained
unbiased. It will engage in a dialogue with the industry
before taking a decision."
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