Industry growth at 5.8%
New Delhi, May 12:The country’s industrial growth rate went up to 5.8 per cent during the financial year ended March 31, 2003 compared with a mere 2.7 per cent recorded during the economic slowdown of the previous fiscal. However, the vital electricity sector continues to be an area of concern. The manufacturing sector grew 6 per cent during 2002-03 compared with 2.9 per cent in the previous year.
Mumbai, May 12:Grasim Industries has suspended operations at its viscose staple fibre and rayon grade wood pulp plants in Karnataka due to scarcity of water. It will also curtail production at its Madhya Pradesh VSF unit for the same reason.
EID Parry arm
Mumbai, May 12:EID Parry Ltd (EID) will demerge its farm inputs division, comprising fertilisers and pesticides, into Coromandel Fertilisers Ltd (CFL). Shareholders will get one share of CFL for every three shares held in EID.
New Delhi, May 12:Labour minister Sahib Singh Verma today said he will try to maintain the present interest rate of 9.5 per cent on employees provident fund (EPF) for 2003-04.
New Delhi, May 12:The government has cleared de-reservation of 75 more items from the small-scale sector, including many chemicals and reagents and products in the leather, paper and plastics category.