Panel clears Rs27,000-crore plans in Karnataka
Bangalore: Proposals worth Rs27,000 crore have been approved by the High Level Committee chaired by the chief minister, H D Kumaraswamy.

The proposals involved eight SEZs, that would be exclusively developed for the IT and biotechnology sector. The investment on this infrastructure would be Rs20,000 crore while another Rs7,000-crore-worth of investment proposals belonged to the non-IT sector, sources said.

The committee at its meeting held recently, gave its approval for only eight proposals. Six of these would be located in Bangalore, with two going to Mysore. The SEZs cleared for Bangalore include Adarsh IT and ITeS SEZ; Prestige Group's Cessna Gardens; as well as SEZs by developers such as Dynasty, Sapphire and Tanglin. Biotech firm Jubilant Organosys has been cleared to set up a biotech SEZ in Mysore. Wipro has also been allotted 100-acre land in Mysore for setting up an R&D centre.
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Mumbai urban projects to get Rs1,100 crore
Mumbai: Mumbai urban renewal projects will see Rs1,100 crore being infused in 2006-07, according to Jayantrao Patil, minister for finance and planning, Maharashtra.

Addressing the Indian Merchants' Chamber, he said the next phase of the metro railway project connecting Colaba to Charkop has been approved estimated to cost Rs9,000 crore. Also in the pipeline are metro rails connecting Versova to Ghatkopar and other projects.

The Mumbai Metropolitan Region Development Authority has taken up Mumbai Urban Infrastructure Project worth Rs2,600 crore; the Mumbai Housing And Development Authority also has undertaken several housing projects, he said.
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Sugar mills can export, but after fulfilling levy quota: Pawar
New Delhi: The government has said that sugar mills can freely export sugar to fulfil their re-export obligation on last year's raw sugar import, but it will not allow diversion of levy quota for this purpose.

Sharad Pawar, agriculture and food minister said, "Millers can export from marketable surplus." He said mills have to fulfil mandatory 10 per cent levy quota obligation.

He projected domestic sugar production at 182-183 lakh tonne in 2005-06 as against 121-122 lakh tonne in 2004-05. Sugar year runs from October to September in India.
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Liquidity not a concern, says FM
Bangalore: The Finance Minister, P Chidambaram assured bankers that availability of lendable money is not a cause of concern. "Liquidity is not a concern. But liquidity has to be maintained so that interest rates remain attractive to investors," he said on the sidelines of a function here.
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