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Business Briefs

CII sees growth at 6.8%

New Delhi, Aug. 17: On the back of a good monsoon, the Confederation of Indian Industry (CII) has revised the growth forecast for gross domestic product to 6.5-6.8 per cent from an earlier 6.4 per cent for 2003-04. “We expect growth in GDP to continue. Quarterly numbers are likely to rise steadily and peak in the third quarter when GDP will rise sharply due to the low base of the previous year,” says CII.

Inflation dips

New Delhi, Aug. 17: The rate of inflation plunged to 3.96 per cent for the week ended August 2, shedding another 0.13 per cent from the previous week’s level of 4.09 per cent, even as primary articles became costlier, with prices of vegetables skyrocketing.

Trai order

New Delhi, Aug. 17: Trai has asked the government to restrict the multiple registrations provided by basic operators to offer better coverage area to their customers. The regulator has asked DoT to restrict the mobility on WiLL phones within a SDCA. This happened even as basic operators said there was an attempt to distort the TDSAT judgement on limited mobility.

Hyundai sales

New Delhi, Aug. 17: Hyundai Motor India expects to boost sales by over three-fold to half-a-million units as part of a plan of its parent company to become one of the top five automakers by 2010.

Port plans

New Delhi, Aug. 17: The Centre is considering taking up an equity participation of 10 to 15 per cent for building shipping and ports in the country and 20 to 25 per cent for the port-rail connectivity.


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