Poor show by core sector
New Delhi, July 22: The six key infrastructure industries, except electricity, have performed poorly in the first quarter of this year with a mere 4.1 per cent growth as compared with a 6.2 per cent growth in the corresponding previous period. The growth in crude petroleum, petroleum refinery products, coal, electricity, cement and finished steel in the month of June plummeted to 4.7 per cent against 7.0 per cent in June 2002.
New Delhi, July 22: Buoyed by growing sales and a good monsoon, India’s biggest motorcycle maker Hero Honda Motors is considering setting up a third plant. “We are looking at the feasibility of our third plant,” Hero Honda Motors chairman Brijmohan Lall Munjal said here today.
Bad loan alert
New Delhi, July 22: World Bank has sounded the warning bells for Indian banks and financial institutions on high non-performing assets and the risks of suffering losses if interest rate starts rising in the economy. The problems assumes importance in the wake of rising public sector debt at 90 per cent of GDP, the World Bank said.
New Delhi, July 22: Power minister Anant Geete today said the finance ministry is considering a proposal to restart the Dabhol power plant, now lying idle for nearly two years. “Centre has no direct role to play in the matter as the project is a joint venture between the Maharashtra government and the US-based Enron Corporation,” Geete said.