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Even
as exports are up 20 per cent, trade deficit widens for
H1
New
Delhi: The country's foreign trade, for the first
half of the year, has seen an increase in merchandise
exports, which have grown by 20.47 per cent to US$43.20bn
(US$35.86bn). The trade deficit meanwhile has jumped to
US$20.32bn against US$11.88bn in the same period last
year.
The
high oil prices had its impact on the overall imports,
which were valued at US$63.5bn during April-September
2005 against uUS$47.75bn in the same period last year.
Oil imports in the first half of the current fiscal grew
by 42.87 per cent to US$20.83bn (US$14.58bn in same period
last fiscal), according to the provisional data on the
first half trade performance released by the commerce
ministry.
Non-oil
imports too saw strong growth during April-September 2005
at US$42.72bn, reflecting an increase of 28.79 per cent
to the level of US$33.17bn in the same period last year.
For
the month of September 2005, merchandise exports stood
at US$7.3bn. This was lower than the export performance
of US$7.4bn recorded in August 2005. Exports during the
month of September 2004 stood at US$6.79bn.
Imports
during September 2005 stood at US$10.49bn, representing
an increase of 17.33 per cent over the level of US$8.94bn
in the same month last year. In rupee terms, exports during
April-September 2005 increased by 15.48 per cent to Rs
1,88,659 crore. Imports in the first half of the current
fiscal increased by 27.48 per cent.
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IATA
chief: Aviation can be driver for growth
New
Delhi: The India aviation sector may well be a growth
driver for the global aviation industry, according to
International Air Transport Association (IATA) director
general Giovani Bisignani. With the US aviation industry
in crisis, a majority of airlines having filed for bankruptcy,
and European airlines also facing market saturation, it
is Asia that will drive future industry growth, he said.
Speaking
at a CII session, he said that the expansion rate of the
Indian aviation sector is the fastest in the world. But,
he said, for India to compete with countries like China,
it will need to upgrade its infrastructure and make necessary
policy changes.
Stressing
on the importance of the aviation sector, Bisignani said
that globally, airlines are a US$400 billion industry,
generating US$1.3 trillion in economic output, and not
to be taken lightly.
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Indian
Post seeks Rs.625 crore support for computerisation
New Delhi: The Department of Post has sought an
additional financial support of Rs625 crore towards computerization
of all the 26,000 post offices across the country.
Dayanidhi
Maran, Minister for communication and IT, has also announced
a slew of new postal products and services such as corporate
e-post and a new-look letter-box, at a ceremony held today
to mark the 150 years of India Post.
Maran
said he had written to the Prime Minister and the Planning
Commission for the additional financial support. "The
computerised and networked backbone of post offices would
provide opportunities to Central and State governments,
business community, and financial and micro credit institutions
to use the postal infrastructure for e-governance,"
Maran said.
To
revamp the postal structure, the Government has taken
two major initiatives including the Systems Study by KPMG
and setting up of an inter-ministerial group to chart
the path ahead.
The
proposed launch of immediate Money Order (iMO) next month
as an on-line money transmission system will add to the
basket of instant products to cater to the customers at
a faster speed, said a press release.
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India
is 88th most corrupt country in world
New
Delhi: Corruption Perception Index, an annual survey
released by Transparency International, has said corruption
has decreased marginally in India and has ranked the country
88th among 159 nations against 90th last year. In 2005,
India scored 2.9 on a scale of zero to 10, compared with
2.8 last year.
The survey is not just limited to estimating the monetary
value of petty corruption. It also ranks public services
and states. The study looked into systematic aspects of
corruption in public services.
The
report is based on a series of surveys, and included feedback
from businessmen, officials and academics.
India was placed along with Iran, Bosnia and Tanzania.
China and Sri Lanka were ranked 78th, with
a score of 3.2, while Afghanistan and Nepal were jointly
placed at 117 with a score of 2.5. Pakistan was ranked
144th with a score of 2.1 and Myanmar was 155th
with a score of 1.8.
The top-ranked countries, having the lowest levels of
corruption, include Iceland, Finland, New Zealand and
Singapore with scores ranging between 9.8 and 9.7.
The highest level of corruption is reported in Chad, Bangladesh,
Turkmenistan and Haiti. Bangladesh and Chad have jointly
been described as the most corrupt nations in the world,
ranking 158 with a score of 1.7.
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Escorts
Heart Institute in pact with Deccan Aviation to offer
air ambulance
New
Delhi: Escorts Heart Institute and Research Centre
(EHIRC) and Air Deccan have tied up to launch air ambulance
services, called Air Rescue One in the country.
A
back-up fleet of eight helicopters and two Pilatus P12
aircraft will support the initiative.
Talks
are also on with insurance companies to include this service
in their cover.
While Escorts will provide the medical support for a fixed
fee of about Rs 30,000, the cost of flying the patient
will depend on the distance.
However,
an initial 15 per cent discount is being offered. Depending
on the response, Deccan Aviation will consider posting
a dedicated fleet for service.
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