The Financial Express -- Economy

Sunday, May 11 1997

States divided over revenue sharing

Most of the member states of the standing committee of the inter-state council objected unanimously over the proposed move to allocate them a 29% share in the central revenues collected through taxes, by the tenth finance commission.

Infrastructure Bond Issue

Centre fails to redeem IDPL loan guarantee to LIC

The Indian Drugs and Pharmacueticals Ltd failure to repay Rs 5 crore loan to Life Insurance Corporation in 1986 resulted in centre's failure to redeem its sovereign guarantee. This was noted the Comptroller and Auditor General (CAG) in its recent audit report on the union government.

Ministry slaps $1.8m demurrage notice on STC

State Trading Corporation has been slapped with a $1.8 million dummerage notice by the ministry of surface transport for delays in the import of wheat from Canada and Australia. Highly placed sources in the corporation revealed that the lack of foresight on the part of STC cost massive losses to the country.

RBI razes old walls, allows FIs greater access to short-term

Institutions set to take battle to banks' boroughs

Iraq to sign oil deals with China, France

US Exim Bank offers to fund airlines

Powergrid to invite global bids for MVAR capacitors

Hike in petro prices inevitable: Srinivasan

APEC ministers to push on financial services

`Future takeovers will be friendly and arranged'

Inmarsat seeks DoT subsidy for rural phone services

NBFCs feel jittery as shakeout looms large

Crop insurance plan to cover non-loanee farmers

Seafarers body for end to general roster

NEWS POINT -- 800 feared killed in Iran quake

Draft Broadcast Bill favours cross-media ownership, DTH

Readymade garments export target at $5.2bn

Assocham seeks changes in new Companies Bill