Infrastructure growth in June slows down to 6.2 pc
New Delhi: The infrastructure growth slowed down to 6.2 per cent in June 2006 compared to 8.3 per cent in the same month last fiscal mainly due to slowdown in electricity generation coupled with lower steel and cement production, according to an official release.

Growth in electricity generation declined to 4.5 per cent during the month from 9.4 per cent in June 2005. Steel production registered a 5.6 per cent growth during the month as against 12.6 per cent in June last year.

Also, cement production recorded a slower growth rate of 11.2 per cent in June 2006 as against 16.6 per cent in the same month previous fiscal.

Crude production and petroleum refining recorded growth of 1.2 per cent and 10.4 per cent respectively, compared to 0.3 per cent and a negative growth of 1.1 per cent in June last year.

Coal production too marked a strong growth rate of 11.9 per cent compared to 3.4 per cent registered a year ago.

For the April-June quarter, the six infrastructure sectors recorded a growth rate of 6.3 per cent compared to 7.5 per cent in the corresponding period of 2005-06.
Back to News Review index page  

Five SEZs to come up in Orissa
New Delhi: Orissa has received the central government's approval for five special economic zones (SEZs) and is poised to attract investments of Rs12,000 crore in manufacturing, IT and ITES sectors.

Among the 45 proposals formally cleared by the Board of Approval on Tuesday for establishing SEZs, Vedanta Alumina proposal to set up an SEZ for aluminium and aluminium products, including downstream industries, got in-principle nod. This SEZ is to come up in Jharsuguda on 347 hectares at an estimated investment of Rs5,742 crore. It will have the potential to create 7,000 jobs.

The second one would be developed by Hindalco Industries on 855 hectares in Sambalpur at an estimated investment of Rs3,909 crore and create 8,000 jobs.

The third one relates to beach sand mineral processing to be developed by Saraf Agencies Pvt Ltd in Chhatrapur (Ganjam) on 230 acres at an estimated investment of Rs1,300 crore and create 2,200 jobs.

The fourth SEZ relates to four million sq ft built-up space primarily for IT and ITES sectors to be developed by DLF Ltd on 54 acres in Bhubaneswar at an estimated investment of Rs736 crore create 4,200 jobs.

The last proposal relates to a BPO SEZ to be developed by Genpact India on 25 acres in Bhubaneswar at an estimated investment of Rs140 crore. It will potential to create 6,000 jobs, according to a statement by the State Government Information Office.
Back to News Review index page  

Diamond industry gets hit in Gujarat floods
Ahmedabad: The Indian diamond export in Gujarat is likely to be hit hard as nearly 90 per cent of Surat city, which cuts and polished nearly 90 pc of diamonds worth Rs64,000 crore exported from India, is almost submerged. Officials said almost 55 per cent of the $1 billion monthly diamond exports, which comes from Surat has been lost completely.
Back to News Review index page  

State governments ban sale of Coke, Pepsi
New Delhi: A number of state governments have banned the sale of Coke and Pepsi either completely or partially. While Kerala, Madhya Pradesh, Rajashthan, and Gujarat have banned the manufacture and sale of cola products from Coca-Cola and Pepsi, Andhra Pradesh has banned the sale of colas in canteens, schools, and government institutions.

The decision to ban the colas by the states is a blow to the retailers and manufacturers here.
Back to News Review index page  

West Bengal CM urged not to shut state PSUs
Kolkata: State government employees have urged West Bengal chief minister Buddhadeb Bhattacharjee him not to close down state public sector undertakings (PSUs) running on a no-profit-no-loss basis.

As is widely known the Left Front government decided to restructure 29 loss-making state PSUs. Important among these are the state transport corporations and West Bengal State Electricity Board (WBSEB). The government, will, however, offer an early retirement scheme to all employees of the PSUs which are going to be closed down.

The employees said the chief minister had agreed to their proposal.
Back to News Review index page  

OBC quota may not be implemented in pvt institutes, phased rollout in IITs, IIMs
New Delhi: OBC reservation in admissions to educational institutes is likely to be restricted to government-aided institutions, and the government may not impose quotas on private institutions running without government aid for now.

The government has decided to roll out quota in aided institutions like IITs, IIMs, AIIMS, Indian Institute of Science, National Institute of Design, School of Planning and Architecture, among others but in a phased manner.
Back to News Review index page