Inflation growth at 4.68 pc
New Delhi: Inflation grew at 4.68 per cent, as per latest estimates for the week ended July 8.

According to the Finance Minister, P. Chidambaram, the overall inflationary situation is "under control" and "there is no need to assume that prices will rise or there will be rise in interest rates."
He said there was ample liquidity in the system and pointed out that the Reserve Bank of India (RBI) was absorbing large amounts of money through market stabilisation scheme (MSS) and Liquidity Adjustment Facility (LAF). While admitting that there was some "uncertainty" on the inflation front, he expressed hope that it would be resolved in the coming days and weeks. "We have taken a number of fiscal steps. We have taken steps on the supply side. The RBI Governor has taken steps from the monetary side," Chidambaram added.
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IIT-B satellite campus to come up in Gujarat
Ahmedabad: Institute of Technology-Bombay (IIT-B) would soon begin setting up a satellite campus in Gujarat. Recently the director of IIT-B, Ashok Misra, met government officials in Gandhinagar to discuss its plans of setting up a satellite campus in Gujarat. The institute has requested for 300 acres of land near the Ahmedabad International Airport for a Rs600-crore project.

Misra said, "We plan to start our campus by July '07. Initially, we may begin with a temporary set-up at a local college. Full-fledged operations will begin after the new campus is constructed," he said. The institute will pump in close to Rs600 crore in setting up the Ahmedabad campus. This does not include the investment in land. The government of Gujarat may allot the land at a highly-nominal cost.

IIT-Bombay's Powai campus is spread over 500 acres of land and does not have enough space to expand, as the allowable space for buildings on the existing campus has mostly been used up.

With IIT's new campus coming up in Ahmedabad, the total intake of the institute including that of under-graduate and post graduate courses will come somewhere close to 1,000 students.
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