Chidambaram says India can now be compared with China
New Delhi: Enthused by a booming economy growing at nine per cent per annum, the finance minister, P Chidambaram said it would not be wrong now to compare India with China even though India can learn a lot from its neighbour, especially on the infrastructure front.

Speaking at an international conference on meeting India's infrastructure needs with public-private partnerships, the FM said said there was enough room in the world for both China and India to grow.

He added that though China and India complemented each other in many areas they were also competitors. He said India's savings and investment rate as percentage of GDP had gone up by 2 per cent each. However to sustain the revised growth rate of 9 per cent in 11th plan, the savings and investment as proportion of GDP had to be raised further.

He said, "There is much to be learnt from China. We believe that we can learn from China about execution of projects within time, strict discipline and reward-punishment system for those who are in-charge of the project execution," he said.
Back to News Review index page  

FDI limit to be raised for aviation sector
New Delhi: The Civil Aviation Ministry has moved a proposal to hike FDI cap in helicopter and sea-plane operations, MRO facilities, charters, air-cargo and non-scheduled air operations for the Union Cabinet's consideration. The ministry has mooted a 100 per cent FDI in helicopter and sea plane operations along with Maintenance, Repair and Overhaul (MRO) facilities.

For non-scheduled and cargo operations, the ministry has proposed raising the FDI cap to 74 per cent and is considering allowing foreign airlines participation in the air cargo sector. The current FDI limit in the entire civil aviation sector is 49 per cent.
Back to News Review index page  

TN benefits from Cauvery Tribunal ruling
New Delhi: The Cauvery Water Disputes Tribunal has allocated 419 TMC ft of water annually to Tamil Nadu and 270 TMC ft to Karnataka, which however will actually release only 192 TMC ft of water to Tamil Nadu in a year.

Set up in 1990 after more than 16 years of hearings, the final verdict of the Tribunal also awarded 30 TMC ft of Cauvery river water to Kerala and 7 TMC ft to Puducherry, the other parties to the dispute.

The Tribunal in its interim order had given 205 TMC ft of water to Tamil Nadu.

The actual release of 192 TMC ft will take place as measured at the Biligundlu reservoir on Karnataka-Tamil Nadu border.

The monthly release by Karnataka has been scheduled as 10 TMC ft in June, 34 in July, 50 in August, 40 in September, 22 in October, 15 in November, 8 in December, 3 in January and 2.5 each in February, March, April and May.

The verdict can be challenged by any of the parties in court.
Back to News Review index page  

India and Russia to set up JV for MTA aircraft
Bangalore: India and Russia are planning to set up a joint venture for research and development and production of MTA transport aircraft, which is expected to be delivered after 2015. MTA aircraft used in transportation of military and civil cargo and aerial delivery operations would replace the AN-12, AN-32 and C-130.
Back to News Review index page  

US keen to increase presence in defence manufacturing in India
New Delhi: The US is keen to increase its presence in India's aerospace industry and improve bilateral partnership in this area by setting up of manufacturing bases in the country according to former US Secretary of Defence and chairman and CEO Cohen Group William S Cohen.

Cohen is leading the 24-member US-India Business Council Executive Mission (USIBC) to India for the Aero India 2007 starting in Bangalore from February 7.

Cohen said America had the best equipment available for the defence forces across the world at fair prices, adding that the mission led by him seeks to consolidate the momentum of the recent US-India strategic partnership to showcase American excellence in technology superiority, reliability and long-term partnership.

Encouraged by the US-India nuclear partnership, companies like Boeing Co, The Cohen Group, emergent bio-solutions, Fremont Group, Honeywell International, General Electric Aviation, Pratt and Whitney among others would display their technology at the show.

The Boeing company would showcase the F/A-18F, C-17 Transport Aircraft and Chinook heavy-lift chopper, while Lockheed Martin, which manufactures the F-16, will display the C-130J and P-3C.
Back to News Review index page  

Government may impose cess for airport development
New Delhi: Just days to go before the unveiling of the Union Budget, the government is said to be considering imposing a cess on air travel in order to fund development of non-viable airports and air routes according to Civil Aviation Minister Praful Patel.

He clarified that the proposal was at a very nascent stage and the government was trying to either redefine the existing passenger service fee (PSF) or have an additional levy and there could be a change in the nomenclature.

The minister said the Airport Economic Regulatory Authority (AERA) Bill was likely to be tabled in the coming Budget session of Parliament.
Back to News Review index page  

I&B considering banning more TV channels
New Delhi: The Information and Broadcasting ministry is now considering banning some more channels after taking English channel AXN off the air.

Priya Ranjan Dasmunsi, Minister of Information and Broadcasting said that several channels were indulging in showing content that was unsuitable for prime time viewing which would not be tolerated.

Last month the government had banned the telecast of AXN channel till March 15 for showing a programme called 'World's Sexiest Commercials' as it violated the programme code for cable television.
Back to News Review index page  

Private broadcasters to lose license on denying content
New Delhi: Under a new ordinance notified by the government, that comes into force from today the license of a private broadcaster can be revoked if it refuses to share live feed of sports of national interest with Prasar Bharati.

The Sports Broadcasting Signals (Mandatory Sharing With Prasar Bharati) Ordinance 2007 also provides for a penalty of Rs 1 crore, for denying live feed to the public broadcaster.

On the revenue sharing part between private broadcasters and Prasar Bharati, the new law lays down the ratio of 75:25 in case of television coverage and 50:50 in case of radio broadcast.

Specifying penalties for failing to adhere to new law, the ordinance said government "may specify penalties to be imposed, including suspension or revocation of license, permission or registration, for violation of various terms and conditions."
Back to News Review index page  

Gratuity payable for all days worked till superannuation: Madras HC
Chennai: Madras High Court has ruled that non-payment of gratuity to a worker for all days worked till date of superannuation was against the provisions of Payment of Gratuity Act, 1972. The Court has directed a Chennai-based company to pay dues to a worker for nine days in July 1998 also.

An earlier a single judge's order had said that the worker's claim for payment of interest on delayed payment could not be accepted as the issue had come up before Court for first time.

Appellant P Selvaraj joined services in Shardlow India, Chennai, and reached superannuation on 9 July, 1998. He was paid gratuity for the period ended June 1998. Aggrieved, he filed a writ petition praying for payment of gratuity for period ended July 9.

The company claimed that since cost of living index figures were not available when gratuity was paid and the worker had accepted payment after signing receipt his claim for July could not be accepted.

The single judge, who heard petition, accepted the contention of company and said the worker had no justification to claim the amount.

The two judge bench comprising Chief Justice A P Shah and Justice K Chandru said that Gratuity Act was a beneficial piece of legislation and should receive interpretation consistent with principles of equity and fair play.
Back to News Review index page