Economic survey to be presented on Friday
The Economic Survey 2000-01 will focus on general economic slowdown, poor performance of the manufacturing and agriculture sectors, hardening of inflation rate and growing internal indebtedness. The Survey will also make a case for increasing investment in the agriculture and manufacturing sectors, in addition to removing bottlenecks for accelerated development of infrastructure network. The Survey, to be tabled in Parliament on Friday, will highlight achievements on the external front.RBI cuts repos rate by 50 bps
The Reserve Bank of India (RBI) on Tuesday cut its repos rate by 50 basis points to 7.5 per cent. At its two-day repos auction held on Tuesday, the central bank accepted a single bid for 6,000 crore at 7.5 per cent. The RBI received no bids at the reverse-repos. The last repos-rate cut was executed on October 25 - to eight per cent from 8.25 per cent.
Indrajit Gupta passes away
Veteran CPI leader and former Union home minister Indrajit Gupta passed away in Calcutta early Tuesday morning after protracted illness. He was 83. He will be cremated on Thursday. Both houses of Parliament were adjourned on Tuesday as a mark of respect to Mr Gupta.
Tata Chem may sell cement division to GACL
Tata Chemicals is understood to be in talks with Gujarat Ambuja Cement Ltd (GACL) for selling off its cement unit at Mithapur, Gujarat. Sources say that the deal, which is being handled by Infrasturcture and Lease Financing Services (ILFS), is in the final stages of negotiation.
Wockhardt to license out anti-cancer drugs
Wockhardt is open to licensing out a range of indigenously developed biotechnology-based anti-cancer products and peptides to international companies, as part of its growth strategy. The products being considered for supply include peptides - leuprolide, goserelin and octreotide - besides biotech products like erythropoietin and r-Interferon.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
