Three new IITs to be set up
New Delhi: The Government is proposing to set up three new Indian Institutes of Technology (IITs) with one each coming up in Bihar, Rajasthan and Andhra Pradesh, the Rajya Sabha was informed on Monday.

Apart from this it was proposed that two new Indian Institutes of Science Education and Research (IISERs) would come up in Bhopal and Thiruvananthapuram and two new Schools of Planning and Architecture would be set up in Vijayawada and Bhopal during the XIth Plan period, Minister o f state for HRD D Purandeswari informed the Rajya Sabha in a written reply. The Government also proposed to set up 20 new Indian Institutes of Information Technology (IIITs) in various States during the period under Public Private Partnership mode the minister said.

Apart from this the government also proposes to upgrade the infrastructure facilities in one polytechnic in each of the 177 Specially Identified Districts in the country.
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Business confidence declines in Q4: FICCI survey
New Delhi: Business confidence received a drubbing in the fourth quarter of 2006-07 mainly due to RBI's continued efforts to mop-up liquidity from the system.

A FICCI survey for the fourth quarter of 2006-07, conducted in April revealed that when RBI raised key rates and the rupee appreciated against the dollar, business confidence took a beating compared with that in the third quarter of 2006-07.

In the survey 68 per cent respondents expected to realize higher to much higher sales as against 78 per cent in the third quarter of 2006-07. Fifty per cent expected to realize higher to much higher profits as against 52 per cent in the third quarter. Fifty two per cent expected to realize higher to much higher exports as against 46 per cent in the third quarter. 37 per cent expected to achieve higher to much higher employment against 32 per cent in the third quarter.

A large number of respondents at 42 per cent of the companies in the survey complained of the rising cost of credit as an impediment for business, and a significantly large proportion (80 per cent) of these companies belong to the small and medium sector.

Large Indian companies have beaten the high cost of credit by tapping resources from outside at cheaper rates a benefit that SMEs cannot avail themselves of.

The survey drew responses from 418 companies from cement, pharmaceuticals, textiles, food and beverages, financial services, paper, metal, chemicals, FMCG, IT, infrastructure, auto, real estate, steel and petrochemicals sectors among others.
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