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Paddy farmers get bonus boost

New Delhi, Oct. 16: The government today announced a bonus of Rs 50 per quintal over and above the minimum support price of paddy to boost the procurement of the foodgrain during the kharif marketing season.

At present, the support price for paddy stands at Rs 850 per quintal for common variety and Rs 880 per quintal for grade A variety. Kapil Sibal, minister for science and technology said, “The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for an incentive bonus of Rs 50 per quintal on paddy over and above the support price for the entire kharif marketing season 2008-09.”

Permission to Aditya Birla Telecom

The CCEA has approved Aditya Birla Telecom’s proposal to infuse foreign equity worth Rs 2,704. 21 crore by issuing compulsorily convertible preference shares. Aditya Birla Telecom has a licence to offer mobile services in the Bihar circle. The approval is subject to certain conditions of the Foreign Investment Promotion Board. Compulsorily convertible preference shares pay a fixed dividend to the investor. The preference shares are either converted into ordinary shares or are redeemed for cash, usually at specified dates.

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