Maharashtra to purchase power from Dabhol at Rs5.01 per unit
New Delhi: The Maharashtra Government has agreed to purchase electricity from the Dabhol power project at Rs5.01 a unit to make up for the massive shortfall in power, it is facing. Dabhol Power Project, which has been taken over by Ratnagiri Gas and Power Pvt. Ltd. (RGPPL), is thus expected to resume operations by the middle of November this year. The State would buy up to 700 MW to be generated by the plant based on imported naphtha as the fuel feedstock.

On account of costly fuel, the total cost of power works out to Rs5.01 a kWh (unit). Of this, while the capacity charges account for Rs4.71, the incidental charges total 30 paise.

The agreement for power purchase will include a clause for fuel price escalation in that if the naphtha prices go up in the global markets, the additional cost will be a pass-through and the State will continue to purchase electricity even if the tariff crosses Rs5.50 a unit.
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Seven crore jobs in five years envisaged
New Delhi: To reduce poverty and give an impetus to inclusive growth the Planning Commission has envisaged creating seven crore new jobs in the next five years and doubling per capita income in 10 years. To reduce the number of people living in poverty, the Commission has suggested doubling the per capita income in the next ten years, which would require achieving 10 per cent economic growth by the end of the 11th plan and sustaining it through the 12th Plan. India's GDP is presently $785 billion.

If these targets are achieved, the Planning Commission said it would result in reducing the number of people living in poverty by 10 percentage points by the end of 11th Plan.
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Vibrant growth of software and services export seen
Coimbatore: India's vibrant IT software and services industry is projected to reach an export potential of $57 to $65 billion by 2008, according to the Union IT and Communications Minister, Dayanidhi Maran.

The software industry in India is currently worth $29.5 billion of which $23.4 billion comprises exports-- about 20 per cent of the nation's total exports. India is expected to sustain its leadership position in future also, as export revenue from ITES-BPO sector grew from $2.5 billion in 2002-03 to $6.3 billion in 2005-06, he said. The IT and ITES-BPO sector has become the biggest employment generator amongst young college graduates, with the number of jobs almost doubling each year, he said.

The number of professionals employed in India by IT and ITES sectors has grown from 2.84 lakh in 1999-2000 to 13 lakh in 2005-06, growing by over 2.84 lakh in the last year alone, he claimed.
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