India and Nepal are on course to set up a 400Kv double-circuit link between the two nations connecting Muzaffarpur in Bihar and Dhalkebar in Nepal. The Rs 240-crore link is likely to be commissioned by December 2010.
Outgoing finance minister and newly appointed home minister P Chidambaram expressed confidence that the Indian economy would register a satisfactory growth this year, even though there may be a temporary slowdown.
The top brass at the Finance Ministry went well prepared to present the fiscal stimulus plan to rev up the economy in its first meeting with PM Manmohan Singh since he took over the finance minister’s portfolio.
Indian Hotels, owners of the terror-ravaged Taj Mahal Palace and Tower, began the risk assessment of their property in Mumbai after taking over its control from security agencies on Monday.
PM Manmohan Singh decided to keep the finance minister’s portfolio himself, but will certainly bank heavily on his confidante Montek Singh Ahluwalia, deputy chairman, planning commission, to address the demands of the $1-trillion domestic economy.
To enhance disclosure norms and present investors with quality information on solvency of firms, the finance ministry and the Sebi are considering a proposal to make it mandatory for companies to declare their balance sheets every quarter.
Chinese president Hu Jintao warned that his country’s competitiveness and trade strength are being threatened by sustained global economic downturn, testing the grip of the ruling Communist Party.
Getting a much-needed boost with appointment of P Chidambaram as home minister, Indian industry hailed prime minister Manmohan Singh taking charge of the finance portfolio at a time when a bold policy response is required to deal with global downturn.
