An increase in small savings collections is likely to reduce pressure of government borrowing via dated securities and treasury bills in the current fiscal, economic affairs secretary R Gopalan said on Monday. Earlier this month, the government raised interest rates on small savings investment schemes through post offices by up to 0.5%. ?I am sure that pressure on the markets for dated securities as well as T-bills will go down,? Gopalan said, adding the government would try to find ways and means to bring down the market borrowings close to the level of last fiscal year. The government aims to borrow R5.7 lakh crore from the market in FY13 through dated securities, compared with R5.1 lakh crore in the previous fiscal.
Chemical from EU likely to see anti-dumping duty
India is likely to impose anti-dumping duty of up to $490 per metric tonne (MT) on imports of a chemical, mainly used in pharmaceutical and plastic industry, from European Union to protect domestic players from cheap shipments. In final findings, the Directorate General of Anti-dumping and Allied Duties (DGAD) has concluded that the domestic industry has ?suffered material injury? due to the ?dumped imports? of Pentaerythritol from European Union (excluding Sweden). The restrictive duty recommended by the DGAD will vary from $379-490 per MT, the commerce ministry said in a notification.
?Shipbuilding industry to reach R9,200 cr by 2015?
India?s shipbuilding and repairs industry is likely to touch R9,200 crore by 2015 because of the robust demand in the domestic market and adequate availability of skilled workforce, an Assocham report said. Currently, the industry size is about R7,310 crore. The chamber said the country accounts for just about 1% of the global shipbuilding industry, which is about R7.3 lakh crore.
?The Indian shipbuilding and ship-repair industry is likely to reach R9,200 crore from the current level of just over R7,310 crore,? it said. The report added: ?Lower costs of labour, availability of skilled workforce together with robust demand in the domestic market and a growing steel industry are certain factors that build up a strong case for the sector in India.?
