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Experts raise growth predictions for India
With a year of downturn behind us, all major economic think tanks and forecasters who earlier expected the growth rate to dive below 6 per cent, are hopeful of above 6 per cent growth in 2009-10 (it was 6.7 per cent last year) and a growth of around 7 per cent in 2010-11. Such a rate of growth would be one of the highest in the world.

Food inflation rises again; RBI may hike rates
After easing for three weeks in a row, food inflation inched up to 17.40 per cent for the week ended January 16, a development that may prompt the Reserve Bank to hike key policy rates to tame the rising prices.

News of the day

News on Royalty payment brings cheer in new year
Contrary to my pessimistic mood at the year end, 2010 has been ushered in with good cheer by the announcement that all royalty payments-sectors, quantum, caps notwithstanding, will henceforth be covered by the automatic route, subject to the FEMA Current Account Transaction Rules, 2000.
Public Company

Govt for 20% stake sale in SAIL

The government today said it is considering a 20 per cent stake sale in steel major SAIL, proceeds of which would partly fund the company"s Rs 70,000-crore expansion projects. - Sail rises on new project plans - Jharkhand govt gives major ore lease to SAIL - NMDC-SAIL join hands for Himachal project - Jharkhand agrees to renew Chiria leases to SAIL - Sensex gains 189 points, led by Maruti Suzuki, SAIL - Cab Secy asks ministries not to interfere in CPSEs Steel Minister Virbhadra Singh informed Lok Sabha in a written statement that the proposed disinvestment would be carried out in two tranches of 10 per cent each and would be a mix of diluting government stake was well as issuance of additional shares by the company. "A proposal for raising additional equity by SAIL to the extent of 10 per cent of the paid up capital and disinvestment of a portion of the government of India"s holding in SAIL up to 10 per cent of the paid-up capital in two equal tranches is under consideration of the government," he said. However, he maintained that a final decision on the proposal is yet to be taken. It is learnt that the Cabinet may take up the proposal for 10 per cent stake sale next month, which would include sale of 5 per cent government holding and issuing additional equity in the same proportion by the company. "The funds raised from the proposed issue of fresh equities is primarily intended to be utilised for meeting a part of the capital expenditure for modernisation and expansion plans of SAIL," the minister added. SAIL is expanding its annual production capacity from about 14 MT at present to around 23 MT by 2012.


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