Food inflation

Bhubaneswar, Feb. 26: Food inflation in India is largely driven by supply-side pressures and the central bank is not responsible for it, RBI governor D. Subbarao has said. India’s food inflation is among the highest in Asia despite good harvests.

Harshad case

Mumbai, Feb. 26: The Bombay High Court has directed the custodian of assets of the late stock broker Harshad Mehta to release Rs 1995.66 crore to the income tax department to clear their dues.

Jindal plan

Bhubaneswar, Feb. 26: Jindal Steel and Power plans to set up the world’s biggest steel plant in Orissa. The company is also optimistic of commissioning the first phase of its proposed 6 mtpa steel project in the state by March 2012.