The all-India consumer price index numbers for agricultural and rural labourers base (1986-87) increased by three points each to stand at 301 for agricultural labourers and 302 for rural labourers during June, against the previous month of May this year, according to the Labour Bureau in Shimla. The point-to-point rate of inflation based on index for agriculture labour and rural labour decreased from eight per cent and 7.9 per cent respectively in May this year against the respective rates of inflation during June 1998 at 8.9 per cent and 8.8 per cent.

Gold deposits find in Rajasthan

Gold deposits have been discovered in Banswara and Dungarpur district in Rajasthan, state minister for mining corporations Hiralal Indora disclosed in Jaipur. Addressing a conference ``Doing business with South Africa '' organised by CII he said huge deposits of natural gas and lignite have been confirmed in Barmer district. Inviting Indian visitors, South Africandeputy high commissioner DK Pillay said tourism is a major industry in his country where tourist inflows increased by 123 per cent last year. Besides, the gem and jewellery trade between the two countries can grow at better pace. Pillay stressed on opening a gem cutting and polishing training institute in South Africa. Chairman of CII council Golcha said that bilateral trade between India and South Africa which resumed in 1992 is expected to cross two billion dollars mark by the turn of the century. Golcha said that India and South Africa have tremendous scope in forming joint ventures in agro-processing, textiles, leather and components for heavy and light industries, including electrical and automotive industries.

Silk yarn imports

The government on Wednesday said import of raw silk of grade 2a and above will not be subject to any import licence or special import licence (SIL). An official press release in New Delhi also clarified that the imported consignments of raw silk should havecertification regarding the grade of the commodity from nominated certifying agencies as notified by the directorate-general of foreign trade. Government on July 8 announced canalisation of import of silk yarn of grade-2a and above through select trading corporations including the National Handicrafts Development Corporation (NHDC) and Handicrafts and Handlooms Export Corporation (HHEC). State handloom development corporations and other corporations dealing in handlooms, powerloom and silk have also been allowed to import silk yarn.

Petition on rubber price

The union government has approached the Kerala High Court, seeking review of its earlier judgment directing the centre to fix the minimum or maximum price of rubber as envisaged under section 13 of the Rubber Act, 1947. In its review petition, the government submitted that the court was not apprised of the correct legal position under section 13 and the difference in fixing a benchmark price, resulting in a `patent error of law' as the benchappeared to have thought that the fixing of benchmark price was also under section 13. A division bench had, on May 19 last year, in a petition moved by the Rubber Producers' Society, Edamaruku, directed the centre to fix the rubber price as per section 13. Pointing out that the bench had failed to notice that the fixation of a benchmark price and the fixation of price under section 13 were completely different, the centre submitted that there was no concession on its part to revise the price under section 13, but only to fix a benchmark price. The review petition stated that the direction to revise the price under section 13 was made without examining the scope and purport of section 13. What was urged before the bench was for a benchmark price which was far different from fixing the price under section 13. The judgment, if implemented, would have far- reaching consequences and if not reviewed, would result in injustice to the government, it was submitted.

Pak cotton prices flat

Pakistan cottonprices were flat on Wednesday as spinners were on the sidelines, dealers said. ``Trading was affected because the large delivery of recent cotton commitments,'' said one dealer. He said trade is likely to remain slow on Thursday as ginners would also remain away. Ginners still have 300,000 bales (of 375 lb) from old stocks and were scrambling to find buyers to sell them quickly to compete with imported cotton and new-crop arrivals. Official figures show imports totalled 399,462 bales of 480-lb each by June 23 since the start of the season in September.