AAI employees to go on indefinite strike
New Delhi: Air travel services around the country are likely to be affected on Wednesday as the Airports Authority of India Joint Workers Forum has decided to launch an indefinite nationwide strike to protest against the Government decision to award the contract for modernisation of Delhi and Mumbai airports to GVR and GVK Reddy groups.

Addressing a press conference, the minister for civil aviation, Praful Patel, said that the Government had made alternate arrangements to ensure that air services functioned normally. Sources said the government may invoke the Essential Services Maintenance Act (ESMA) to ensure that air services function normally. They said that the personnel of the Indian Air Force have also been put on "short notice stand-by" to ensure that the air services functioned normally.
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Govt invites EoIs for mega power project in M.P.
New Delhi: The Government has asked for expressions of interest (EoIs) to build a 4,000-MW power project in Madhya Pradesh expected to cost around Rs15,000 crore.

The Government has said foreign and domestic parties would have to submit their bids by February 28. The pithead coal-based plant in Sasan will be built in five phases, each having a capacity of 800 MW.

According to the conditions laid down by the government, the companies interested in the bidding should have net assets totalling US$200mn and an average annual turnover of US$500mn. Sasan Power Ltd, which Power Finance Corporation will set up shortly, will be acting on behalf of the Government in allocating coal blocks and land and granting environment-related licences.

The Madhya Pradesh project will be located on one of five sites where the Government intends to develop mega 4,000-MW power plants.
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Govt. seeks EoIs from merchant, investment bankers on NMDC divestment
New Delhi: The Government is going ahead with divestment of a minority stake in the National Mineral Development Corporation (NMDC) and has sought Expression of Interest (EoI) from merchant and investment bankers to act as book runners-cum-lead managers.

The Government holds 98.38 per cent equity in the company. It plans to divest equity shares to the extent of 15 per cent through the book building process in the domestic market. The balance is with the employees, institutions and the public. The paid-up capital of the company as on March 31 last year was Rs132.16 crore.

NMDC is engaged in exploration of a wide range of minerals including iron ore, limestone and diamonds and is the single largest iron ore producer. It is currently operating in three large mechanised iron ore mines in addition to operating the only mechanised diamond mine in the country.

NMDC was incorporated in 1958 as a fully owned public Government enterprise and is under the administrative control of the Ministry of Steel and Mines. It has been a consistently profit making and dividend paying company reporting a profit before tax of Rs1,190 crore for the year ended March 31, 2005.
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GDP growth estimated at 7.5 pc for 2004-05
New Delhi: The economic growth for 2004-05 was revised upwards to 7.5 per cent as against the earlier estimate of 6.90 per cent. The Central Statistical Organisation (CSO) said the revision was necessary due to the change in base year to 1999-2000 from 1993-94.

The GDP growth rate of 7.5 per cent during 2004-05 was, however, lower than 8.5 per cent growth registered in 2003-04, the quick estimates said.

The GDP at factor cost at constant prices with base year 1999-2000 is estimated at Rs23,93,671 crore during 2004-05 compared to Rs22,26,041 crore a year ago, registering a growth of 7.5 per cent.
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Gold prices hit Rs.8,200/10 gm; all time high
Mumbai: Gold prices hit a new high of Rs8,200 per 10 grams on Tuesday. Market analysts said the price could touch Rs8500 in a fortnight.

Despite being the world's biggest consumer of the yellow metal, India does not directly influence prices as the gold market is dominated by international sellers and funds.
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