PM suggests 'specific financing window' for Bharat Nirman
New Delhi: The prime minister, Dr Manmohan Singh has suggested the idea of setting up a "specific financing window" for the ambitious Rs1,74,000 crore Bharat Nirman Programme aimed at giving a new deal to rural India and bridging divides to balance growth.

The resources would come from the government's development outlays, the PM told the CII-organised conference on Bharat Nirman.

To bridge the rural-urban divide, Dr Singh said he has in mind efforts like e-chaupal, Sagar Hatt and Shakti - efforts of Self Help Groups where corporate world is connected with the growth potential in rural India.

"The Planning Commission is working on ways to enhance the management of rural infrastructure programmes by panchayats," he said adding that state governments and local bodies were critical to effective programme delivery.
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China to enter into FTA deals with trading partners from next year
Beijing: China will enter into FTA deals with its trading partners from next year. According to the finance minister of China, Jin Renqing, the country will honour its free trade area (FTA) agreements with its trading partners, levy negotiated tariffs on some Indian goods and will also offer special preferential tariff rates to about 30 least developing countries next year.

Zero import tariff rates will be applied to 'early harvest' products made by the 10 members of the Association of Southeast Asian Nations (ASEAN) as of 2006 as per the China-ASEAN free trade area agreement, said Jin, who is also the chairman of Customs Tariff Commission of the State Council, Chinese cabinet.
China will impose negotiated tariff rates on 928 products manufactured in India, South Korea, Pakistan, Bangladesh and Laos as per its commitment under the Bangkok agreement.

China will also impose agreed tariff rates on 2,244 categories of products originating from Pakistan according to its 'early harvest' arrangement for the Sino-Pakistan free trade area deal.

Products from Hong Kong and Macao, both Special Administrative Regions of China, will enjoy zero import tariff rates as from 2006 according to the arrangement between the mainland and the two special administrative regions for closer economic relations.
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Onscreen smoking ban postponed yet again
New Delhi: The Centre has deferred its decision to implement the onscreen smoking ban from January 1 due to differences between the ministries of health and information & broadcasting.

This is the second time that the Centre has deferred the decision to impose an onscreen smoking ban, which was originally notified to come into effect from October 2 this year.

The courts which are hearing a petition filed by noted Bollywood producer-director Mahesh Bhatt against the onscreen smoking ban, has asked the two ministries to sort out the differences and fixed January 13 for further hearing.

The information & broadcasting ministry has filed an affidavit saying that while it shares the health ministry's concerns and supports its anti-smoking campaign, it however maintains that "the curbs on smoking visuals etc. have to be within the confines of Articles 19 of the Constitution keeping in view the tenets of artistic freedom and creative expressions being not unduely curbed."

The information and broadcasting ministry also says that "the film and Television industry themselves have agreed to assist in propogation of Health Ministry's anti-smoking campaign through alternative action."
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Nasscom-McKinsey: India to face skilled workers' shortage by next decade
Bangalore: A Nasscom-McKinsey report has said that the Indian IT and BPO industry will face a shortage of skilled workers in the next decade or so.

The study says that currently about 25 per cent of the technical graduates and 10-15 per cent of general college students were suitable for employment in the offshore IT and BPO industries respectively.

"As countries from around the world enter the market and competition for off-shoring contracts intensify, India must improve the quality and skills of its workforce," the report said.

The study cited that India lacked workers who were fluent in French, German, Japanese and Spanish, making China and Eastern Europe more attractive off-shoring destinations for Japanese and West European companies, respectively.

It also said that urban infrastructure was an equally major challenge, noting that Indian off-shoring industries were dealing with bottlenecks ranging from power to cafeteria services.
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CCEA allows CSIR scheme on intellectual property
New Delhi: The government has allowed the Council of Scientific and Industrial Research (CSIR) to implement a scheme on Intellectual Property and Technology Management (IPTM) at a total cost of Rs145.15 crore over the tenth five-year plan period.

The finance minister, P Chidambaram said out of the total cost, Rs100 crore would be met through the plan budgetary support to CSIR and the rest from earnings of CSIR Laboratories (LRF).
The total foreign exchange component of the expenditure is Rs115.45 crore.

Chidambaram said the CCEA also gave post-facto approval for the expenditure of Rs70.75 crore incurred during the first three years of the Tenth Five-Year Plan.
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Cabinet gives nod for HEC revival
New Delhi: The union cabinet has approved a comprehensive package worth over Rs200 crore to revive the sick Heavy Engineering Corporation (HEC) in Jharkhand, according to the information and broadcasting minister Priyaranjan Dasmunshi.

Briefing reporters the minister said that this dream unit of late prime minsiter Jawaharlal Nehru, which was accruing losses year-after-year, was likely to come around with the help of the package.

He said the package included conversion of Rs15.27 crore loan into equity, waiver of interest on plan and non-plan loans to the tune of Rs111 crore and non-plan bridge loan of Rs102 crore.

Dasmunshi said that disposal of vacant land of the HEC and residential quarters of its employees would fetch a sizeable amount.

The company, which had about 25,000 employees, was left with less than 10,000 workers now, he said.
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Trai suggests resale of international bandwidth
New Delhi: Trai has suggested that the Government allow resale of international bandwidth in February 2007 to increase competition in the segment.

Keeping in view the need to augment investment in infrastructure, Trai has recommended that introduction of resale would be beneficial to the market.

The retail-minus wholesale price - and terms and conditions for resellers should be fixed by the regulator through a consultative process, Trai has said in its recommendations on Promotion of Competition in International Private Lease Circuits (IPLC) segment.
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Forex reserves up by US$845mn
Mumbai: India's forex reserves have risen by US$845mn and stand at US$143.943bn during the week ended December 9 against US$143.098bn during the preceding week.

The reserves increased by US$921mn during the preceding week ended December 2 compared to the week ago period.

Foreign currency assets increased by US$839mn at US$137.774bn during the 7-day period ended December nine, according to figures released by the Reserve Bank.

Foreign currency assets in dollars include the effect of revaluation of non-US currencies such as Euro, Sterling, Yen held in reserves.
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