The Telegraph
Since 1st March, 1999
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Business Briefs

Meet on petro hubs

New Delhi, Jan. 7: Tax sops, including a 10-year income tax holiday, for the proposed petroleum, chemicals and petrochemicals investment regions (PCPIR), will be on the agenda of the task force on PCPIR when it meets on January 9. The task force will also deliberate on allowing tax sops to PCPIRs as envisaged in the draft policy on the regions.

Inflation woes

New Delhi, Jan. 7: The Institute of Economic Growth has forecast inflation will breach the upper range of RBI’s projection by March-end. This may force the apex bank to harden interest rates further in its next credit policy.

Oil prices

London, Jan. 7: Oil prices have plunged sharply in the first days of the New Year, falling 10 per cent to drop below $55 a barrel for the first time since 2005, largely in response to an unusually mild winter in parts of the US.

Licence raj

New Delhi, Jan. 7: India’s economic liberalisation has remained unsuccessful in removing ‘inspector raj’ system and is still restricted to central level, according to Assocham.


New Delhi, Jan. 7: ONGC-Mittal Energy Services said the export tenders of Mangalore Refinery led to lower market realisation, and offered its services for export of naphtha, fuel oil and gas oil.

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