Friday, November 13, 1998
Perfunctory plan
The reduction in the GDP growth target for the Ninth Plan from the ambitious 7% per year was expected. With the actual growth in the first year of the plan turning out to be 5.1%, the average annual growth target for the plan was pared to 6.7%.
Bright prospects
UNCTAD's World Investment Report for 1998 says that prospects for foreign direct investment continue to be bright, despite the world's financial problems. The annual FDI volume has risen to an astonishing $450 billion, and governments are keen competitors for a slice of that pie.
Follow consistent fertiliser-pricing policy
On July 6, 1996, the centre increased the subsidy for dia ammonium phosphate (DAP) from Rs 1,000 per tonne to Rs 3,000 per tonne. The subsidy for other phosphatic and potassic fertilisers was also increased. Farmers' price of DAP was reduced by Rs 2,000 with immediate effect.
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