Fasttrack

Written by fe Bureaus | Updated: Aug 31 2009, 06:51am hrs
PICK OF THE WEEK

* Economy

An eGoM on August 27 approved a plan to allow what is known in industry circles as 4+1 slots. That is, four private operators in each circle, besides state-owned BSNL or MTNL, who have already been allotted spectrum and are only required to later match the highest bids. Since the matter has been approved by an eGoM headed by finance minister Pranab Mukherjee, it does not need Cabinet ratification. The auctions will be held within 90 days. From the date of spectrum allocation, operators will take around six months to commence operations.

* Politics

Expressing its clear disapproval of the ongoing turmoil in the BJP, the RSS on Friday called for an end to the present happenings but rejected any intervention by the Sangh, saying the BJP would have to themselves put corrective measures in place.

* Markets

After a hiatus of more than a year, companies are hitting the capital market withIPOs. The stock market crash of January 2008 had its ripple effect in the primary market, leading to a period of lull. During the bull phase of 2007, as many as 99 companies went for IPOs. In 2008, this number declined to less than half at 37.

* International

US unemployment will surge to 10% this year and the Budget deficit will be $1.5 trillion next year, both higher than previous Obama administration forecasts because of a recession that was deeper and longer than expected, White House Budget chief Peter Orszag said. The Office of Management and Budget forecasts a weaker economic recovery than it saw in May as the gross domestic product shrinks 2.8%this year, according to the administrations mid-year economic review.