The Telegraph
Since 1st March, 1999
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Business Briefs

Mini-ratna status for NRL

New Delhi, Oct. 31: The government has accorded mini-ratna status to Numaligarh Refineries (NRL) and Balmer Lawrie. NRL has been declared a category I mini-ratna which empowers the company to incur capital expenditure on new projects and purchase of equipment up to Rs 300 crore. Balmer Lawrie has been conferred category-II status and will now be allowed to incur investment expenditure up to Rs 150 crore.

Inflation up

New Delhi, Oct. 31: Costly wheat, fruit, vegetable and other food items pushed up the inflation rate to 5.01 per cent during the week ended October 18, although prices of fuel and manufactured products came down. The rate, which once again breached the 5.0 per cent mark from 4.95 per cent in the previous week, was higher than the 3.01 per cent a year ago.

Export credit

Mumbai, Oct. 31: The Reserve Bank has extended the facility of reduction in ceiling of interest rates charged by banks on preshipment and postshipment rupee export credit by six months till April 30, 2004.

LIC policy

Mumbai, Oct. 31: Life Insurance Corporation will withdraw its ‘Anmol Jeevan’ policy from tomorrow and instead launch a modified version — Anmol Jeevan-I — having a longer term assurance tenure.

Fiscal deficit

New Delhi, Oct. 31: The Union government’s fiscal deficit climbed to Rs 81,014 crore for the first six months of 2003-04. The deficit is 52.7 per cent of Rs 153,637 crore, the budgeted estimate for the current year, according to figures released by Comptroller-General of Accounts.

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