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Business Briefs

Spectrum auction debate

New Delhi, July 31: The panel of ministers formed to look into the 3G auction policy and spectrum pricing debated on the base price and the number of players allowed to bid in its first meeting today. “The DoT presented three reserve price options — Rs 1,010 crore as proposed by Trai, Rs 2,020 crore recommended by the telecom ministry and Rs 4,040 crore suggested by the finance ministry,” telecom minister A. Raja said.

Export sop

Mumbai, July 31: The Reserve Bank of India has extended the interest subsidy of two per cent to exporters, battling demand recession in western economies, by six months till March 2010.

RBI worry

New Delhi, July 31: RBI governor Duvvuri Subbarao has made a strong case for withdrawal of the expansionary monetary policy being pursued to offset the impact of the global financial meltdown, saying it could result in another bout of inflationary pressure.

McNally order

Calcutta, July 31: McNally Bharat Engineering Company Ltd has received an order worth Rs 414 crore from Ideal Energy Projects Ltd. McNally will commission the coal-based power plant on engineering, procurement and construction basis near Bela at Nagpur in Maharashtra.

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