IMF lowers growth forecast
Washington, April 9: The International Monetary Fund (IMF) today lowered the growth projection for India to 5.1 per cent for 2003 and 5.9 per cent for 2004 against the earlier projections of 5.2 and 6.5 per cent respectively, while urging the country to carry out several key reforms faster. In its semi-annual World Economic Outlook released here, the IMF expressed concern that the large fiscal deficit, which has touched 10 per cent of the GDP, remains unchecked and establishing a credible fiscal consolidation strategy is imperative.
New Delhi, April 9: The Lok Sabha today passed the Electricity Bill 2001, seeking consolidation of laws on generation, transmission and distribution of power. It also seeks rationalisation of tariff even as the government proposed change in the definition of rural electrification.
New Delhi, April 9: The World Trade Organization (WTO) today reversed a dispute settlement panelís findings, which had gone against India, regarding the method of calculation of anti-dumping duty by the European Union on import of bed linen.
Calcutta, April 9: The Calcutta High Court order on Jessop and Company will come into effect two weeks later than originally scheduled.
Mumbai, April 9: To bring some uniformity in the stock exchange listing process for companies, Sebi has set up a 10-member Central Listing Authority with former Chief Justice M. N. Venkatachelliah as its president.