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Economy grows by 8.1 pc in H1
New Delhi: The Indian economy has registered a strong 8.1 per cent growth in the second half of the current fiscal, compared to 7.1 per cent in the first half of the last fiscal, mainly due to growth in manufacturing (9.2 per cent) and sevices.

The 8.0 per cent GDP growth during April -September 2005 is higher than the 6.7 per cent growth in the corresponding period last fiscal.

The strong performance exceeds the projections of economic think tanks and even the Prime Minister, who had yesterday predicted a 7.5 per cent growth for this fiscal.

During the second quarter, GDP growth was again at 8 per cent with the farm sector witnessing a 2.0 per cent growth, as compared to zero growth during the year-ago period, according to the figures released by Central Statistical Organisation today.
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Put more funds in irrigation: PM
New Delhi: The Prime Minister, Dr Manmohan Singh has said that irrigation has suffered neglect in the last decade and he favoured a 'credible' law on groundwater to improve water management practices.

He said that there had been a sharp fall in investment in irrigation from 23 per cent of the outlay in the first plan to a mere five per cent now.

He said states must commit a greater proportion of resources to this sector," while inaugurating the Conference of Irrigation Ministers here.
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LPG shortage to be over by December end: Aiyar
New Delhi: Union minister for petroleum Mani Shanker Aiyar assured the Lok Sabha that the shortage of LPG cylinders in the country would ease by the end of December which would enable consumers to get the required supply of cooking gas.

Aiyar said it was true to a large extent that ever since he took over as minister for petroleum there had been a shortage of LPG in the country. He said this was due to a situation beyond the government's control.

He said the shortage of LPG supply was compounded by the reduction in production by the oil marketing companies and shut down of refineries in the public sector and private sector, including the RIL, the largest supplier of cooking gas, he explained.
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Kannur Airport project approved by state cabinet
Thiruvananthapuram: The Kerala cabinet has cleared the proposed Kannur airport project, according to the state chief minister, Oommen Chandy.

Chandy said the project cost of the airport, planned in the joint venture sector, was estimated at Rs930 crore. The project would be completed in three phases. An amount of Rs456 crore and Rs75.5 crore is estimated to be invested in the first and second stages of the airport construction, he said.

Debt-equity ratio has been fixed at 70:30 and the government and its institutions jointly would have a total stake of 26 per cent in the venture. The private partners would be selected in a transparent manner and through competitive bidding adhering to the guidelines of the foreign equity participation, he said.
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