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Nitin Desai to chair panel on venture capital
New Delhi: The Planning Commission has constituted a committee on technological innovation and venture capital to suggest, among other things, the policy changes for encouraging the flow of venture capital into start-ups and new ventures.

The committee is to be chaired by noted economist and former finance secretary, Dr Nitin Desai.

Other members of the committee are Nandan Nilekani, Rajiv Lall, Prof N.L. Sarda, and Saurabh Srivastava.

Shravan Nigam, advisor, planning commission, will be the member-secretary of the committee.

The terms of reference for the committee include examination of the innovation and technological dynamism in both the modern and traditional sectors and the relationship between research, entrepreneurship, and financial markets.

The committee, which has been mandated to submit its report by December 31, has been set up at a time when venture capital has not taken off in a big way in the country and there has been a felt need to review the existing policy framework in this area.
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IIT, Roorkee awards doctorate to Rahul Bajaj
Roorkee: Rahul Bajaj, Chairman, Bajaj Auto Ltd, was conferred the degree of Doctor of Arts (Honoris Causa) by the Indian Institute of Technology, Roorkee.

The degree has been conferred in recognition of the progress of Bajaj Auto under his leadership. "The company has grown from a national player, into an international player over the last 45 years and has spread its market to most parts of the world.

On receiving the degree, Mr Bajaj said, "I'm happy that a technical institute of the stature of IIT Roorkee has recognised the achievements of Bajaj Auto. I've always considered my achievements as that of Bajaj Auto's. I am honoured and humbled to receive this degree."
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