Trade gap widens

New Delhi, Aug. 17: India’s exports during April-July 2004 went up by 25.6 per cent to touch the $21.9-billion mark but failed to keep pace with the higher growth rate in imports, which jumped by a whopping 33.5 per cent to $30.5 billion leading to an increased trade deficit of $8.6 billion. The hardening of international oil prices has played a major role in widening the trade deficit as the country’s oil import bill during this period is reported to have shot up by over 50 per cent.

Steel prices

New Delhi, Aug. 17: Concerned over the rise in prices, particularly of commodities and metals, the finance ministry has held a review meeting with leading steel producers, including Steel Authority of India Ltd and Tata Steel. Union finance minister P. Chidambaram is likely to meet the captains of the steel industry shortly on this issue.

Rural phones

New Delhi, Aug. 17: The department of telecommunications today invited fresh bids for the Universal Service Obligation Fund. Money from this kitty is used to connect villages without public phones. This will be done on the basis of the 1991 Census.

Sebi missive

Mumbai, Aug. 17: Sebi said corporate bodies, their promoters, directors and sub-brokers should obtain the unique identification number before December.