RBI may cut growth target
New Delhi, Aug. 26: The Reserve Bank of India (RBI) today said it will review the 6-6.5 per cent growth projections for this financial year in the face of drought situation in the country. “We will review the growth projections given by the RBI in April during the credit policy to be unveiled in October,” governor Bimal Jalan said. RBI had projected a 6-6.5 per cent GDP growth this year against 5.4 per cent last year following an industrial recovery and good agriculture output.
New Delhi, Aug. 26: The government has dropped the proposal to ask LIC and GIC to buy the Unit Trust of India’s (UTI) blue chips as part of the bailout package that is likely to be worked out soon. The proposal was to ask these institutions to buy out the blue-chip stocks held by UTI at negotiated prices, which was to be worked out by the mutual fund and financial institutions.
New Delhi, Aug. 26: Economist Vijay Kelkar today took over as the adviser to the finance minister Jaswant Singh, an official statement said.
New Delhi, Aug. 26: Bharti Cellular today claimed to have a subscriber base of over twenty lakh cellular users across the country with a market share of nearly 25 per cent.
BSNL tariff plan
New Delhi, Aug. 26: Bharat Sanchar Nigam Ltd (BSNL) has decided to launch new tariff packages for limited mobility services. It includes an alternate tariff plan where it will offer 500 free calls for Rs 200 rental, Rs 50 caller line identification charges and Rs 450 plan charges.