India News: September 2006

Economy posts impressive Q1 growth at 8.9%
Saturday, September 30, 2006 | MP

The country's economy posted an impressive Q1 economic growth of 8.9%. This has been recorded the highest first quarter growth since 2000-01, said Finance Minister.The robust GDP growth mainly owes to the manufacturing and service sectors.Manufacturing sector grew by 11.3% while services sector stood at 10.6% in the first quarter of the current fiscal.While the agriculture remained at 3.4%, electricity and construction sectors slowed down in Q1 of the current fiscal.

Sealing drive in Delhi suspended till Oct 31
Friday, September 29, 2006 | MP

The Supreme Court has given a temperory relaxation to the ongoing Delhi sealing drive with traders being exempted from sealing of illegal structures in the city till Oct 31st.The move comes in view of the Dussera and Diwali festival season.Meanwhile the court has also asked the Delhi Government not to issue no new notifications on this without prior consent from the court. The traders who are getting relief through the two govt notifications, would need to give an affidavit.

India's Chandrayaan-I mission in 2008
Wednesday, September 27, 2006 | MP

India's first moon mission, Chandrayaan-I is preparing for take off in March 2008, says space scientists on the sidelines of a talk held at the National Institute of Oceonography in Panaji.The mission that can search for the oxygen-rich mineral 'ilmenite' is likely to stay in the orbit for over 2 years inorder to recover and map the mineral composition in the moon. The project is done jointly by ISRO-NASA collaboration and is estimated at a cost of Rs 400crore.

Ganguly included in Challenger Series
Tuesday, September 26, 2006 | MP

Former Indian Captain Saurav Ganguly has been listed in the Challenger series that will be held in Chennai from oct 1st-4th.The tournament, will have India seniors taking on India A and India B. India seniors led by Indian captain Rahul Dravid will have the complete Indian team to its full strength. Ganguly has been listed in the India B team which will be captained by Mohammad Kaif and has a mix of senior as well as junior players including VVS Laxman, Ashish Nehra, L Balaji etc.

Hyundai launches Verna
Monday, September 25, 2006 | MP

Hyundai Motor India Ltd (HMIL) has launched today its high-end sedan, Verna,in both petrol and diesel variants. The mid sized car is offered at an introductory price between Rs 6.21 lakh and Rs 6.36 lakh for the petrol variant while the diesel variant would cost Rs 7.35 lakh. Verna has 3 petrol variants powered by a 1.6 litre engine, and one diesel variant with a 1.5 litre engine."Verna is important for Hyundai's India plans as the mid-sized segment has been witnessing exciting times in the last few years," said MD of HMIL.

Punjab to get Luxury train
Sunday, September 24, 2006 | MP

The Punjab Tourism is hoping to get a luxury train in the lines of the popular Palace of Wheels. And the Union railways is said to have approved to the proposal that would provide a great oppurtunity for tourists to experience the grandeour of the State at the comforts of luxury on wheels. The train trip would connect Delhi- Punjab covering destination cities like Amritsar, Jalandhar, Kapurthala and Nangal and the project likely to kickoff by next year. The travel package would cost US$3000 per head for six nights and seven days.

PNB with festive offer for home,car loans
Saturday, September 23, 2006 | MP

Punjab National Bank has announced a special discount offer on its floating home and car loan rates for this festival season. The bank has decided a 0.25 % cut in its loan rates with effect from Saturday. Housing loan is now available at 8.5% under the Housing loan Scheme (for tenure upto 5 years). This is 8.75% for above 5 years-10yrs and 9% for 10-20 yrs. Similarly the car loan rates are cut by 0.25% to 8.5% for maturities upto 5-7 yrs.

India bowled out of DLF Cup
Friday, September 22, 2006 | MP

Indians who had a fair chance of securing a berth in the final by restricting the Australian innings to 213 went short of 19 runs to be bowled out of the DLF tri series.Indians who batted second once again had a poor batting performance with its key batsmen having an early collapse.It was Dinesh Mongia who made a fightback with an unbeaten 63 runs but the Indian innings came to an end at 43.5 overs for 195 runs. With the Australian win, India is out of the tri series with the final now be played on Sunday between Australia and West Indies. The Aussie bowler Brett Lee who took a 5 wicket haul was awarded the man of the Match.

Delhi sealing drive: Govt to call special session
Thursday, September 21, 2006 | MP

Traders protest against sealing of shops in NewDelhi turned violent killing 4 people and injuring many.At the turn of the situations the Union Urban Development Ministry is making efforts to convene a special session of Parliament to resolve the crisis. A large number of establishments are being affected by the court order on the issue of illegal structures in the Capital city and the Municipal Corporation of Delhi continued with its sealing drive across the city.

India eliminates yaws disease
Wednesday, September 20, 2006 | MP

Union health Minister has said that India was completely free of yaws disease, a crippling disease that mostly affects people living under unhygenic conditions in tropical regions. India has finally eliminated yaws and is set to eradicate the disease by 2008. The Yaws Eradication Programme (YEP) launched in India aimed at eliminating this contagious disease has found 3,571 reported cases during 1996-97 and 'zero' incidence of the disease in 2004, said Health Ministry.

Goldman Sachs for $1bn India investments
Tuesday, September 19, 2006 | MP

World's major investment banking firm Goldman Sachs has announced its investment plans of US $1bn for its India operations. The company already has its offices in India at Bangalore and Mumbai and is planning to expand its operations in the Indian market including sectors like real estate, infrastructure."The company will make capital investment of one billion dollar over the next two years as Goldman Sachs has long term view on the Indian market,"said Goldman Sachs-India CEO.

PM makes a rare gesture with Fidel Castro
Monday, September 18, 2006 | MP

Prime Minister Manmohan Singh on the sidelines of the NAM Summit has met the ailing Cuban President Fidel Castro.During the meeting, the Cuban leader exchanged old memories and recalled his long association with India and his friendship with Indian leaders like Jawaharlal Nehru and Indira Gandhi. Castro also enquired on Indian economy and India's growth in areas of IT and non conventional energy sources.The PM's Media adviser has termed the PM's visit to the cuban leader as a historic, warm and cordial meeting.

India, Pak to resume talks
Sunday, September 17, 2006 | MP

India and Pakistan has agreed to resume the foreign secretary level talks which was stalled. Both countries also agreed to jointlyfight terrorism and resolved to find mutually acceptable terms for paeceful and negotioble settlements of all bilateral issues including the Kashmir issues. This came in the sidelines of the NAM Summit during which Prime Minister Manmohan Singh and Pak President Parvez Musharaff met and came up with a joint statement. On the occasion Mr Singh also accepted Pakistan President's offer to visit Islamambad.

Sunfeast Open: Sania seeded 5th
Saturday, September 16, 2006 | MP

Indian tennis star Sania Mirza has been seeded only 5th at the WTA Tier III Sunfeast Open that is begigning on Kolkatta on Sept 18th. Sania was seeded third last year at the Sunfeast series but with her recent WTA ranking slipping to 70 had put her way behind this time.Former world No 1 Martina Hingis will top the seeding in the 32 player USD 175,000 tennis tournament.Sania would pair with S African partner Leizel Huber in the doubles event.

NAM: India focus on bilateral meet with Pak
Friday, September 15, 2006 | MP

The two day NAM summit at Havana in Cuba would deal on issues on Iran's nuclear programme and West Asia. However for India the focus would be on the bilateral meeting with Pakistan President Musharaff. The leaders from over 100 countries would also strive to work together against terrorism and voice against unilaterism. The Indian Prime Minister is also likely to meet Iran President.

Jharkand CM, Arjun Munda resigns
Thursday, September 14, 2006 | MP

Jharkand Chief Minister Arjun Munda has resigned from the post even without seeking any trust vote. The Munda govt was asked to prove its majority after several of its ministers withdrew support to the NDA led govt.The Jharkhand assembly has a strength of 81 MLAs. And the UPA claims to have the support 43 MLA's and is set to form the next government in the state. However the CM candidature is yet to be finalised.

Delhi govt take measures to fight Dengue
Wednesday, September 13, 2006 | MP

Delhi govt is taking strict measures to fight Dengue disease after many a cases reported in the capital.Dengue is spread through mosquitoes and the govt has given strict instructions to take action against those who leave their living areas and premises filthy leading to breeding of mosquitoes. The Health Ministry is also keeping a check on all public places, especially schools, for stagnation of water. 6 people are said to have lost their lives to Dengue and over 60 cases have been reported in Delhi during the past weeks.

Videocon to buy Daewoo Electronics
Tuesday, September 12, 2006 | MP

India's leading consumer electronics, Videocon Industries is all set to acquire South Korea's Daewoo Electronics Corp. Videocon is making the bid estimated at $700 million though the deal is not yet finalised. However Videocon is being projected as a preferred bidder and if the deal makes through this would be Videocon's third acquisition over the last one year and one of the biggest Indian overseas acquisition.

Paes win 4th Grand Slam men's doubles title
Monday, September 11, 2006 | MP

Indian tennis ace Leander Paes has won his fourth Grand Slam men's doubles title as he along with Martin Damm(Czez) lifted this year's men's doubles title at the US Open on Saturday.The pair beated Jonas
Bjorkman and Max Mirnyi 6-7(5-7), 6-4, 6-3. This is Paes seventh Grand Slam title.His last win at the Grand Slam was at Wimbledon in 2003 at the mixed doubles along with Martina Navatilova.His earlier Grand Slam Men's Doubles wins were with partner Mahesh Bupati in 1999 and in 2001.

Volkswagen plan small cars for Indian roads
Sunday, September 10, 2006 | MP

German automobile manufacturer Volkswagen group has said that it would first release small cars for the Indian roads on its entry to the Indian markets.We have done a research of the Indian market and we would be rolling out small cars first here though we have a complete range of vehicles available," said Volkswagen Group Research Director. The firm which has its units in North America and Europe has plans to set up its manuacturing unit in India. A decision on this would be taken in weeks time and the firm is already in talks with the various state governements like maharastra, Tamil nadu, Punjab etc.

New Income Tax Act likely from April 2008
Saturday, September 9, 2006 | MP

The Goverment has said that it is likely to bring in the new simplified Income Tax Act from April 1, 2008. A report to simplify and rationalise the law relating to income tax, was presented to the Union Finance Minister by the Central Board of Direct Taxes on this regard. The new IT Act will replace the exisiting IT Tax Act (1961) and is expected to make filing tax returns easier."This report is about a brand new income tax act, which if all goes well, will come into force from Apr 1, 2008, that is assessments made for 2009-10," said Finance Minister.

Munda govt to seek trust vote
Friday, September 8, 2006 | MP

Jharkand's Arjun Munda Government is asked to prove its majority on the floor of the Assembly. This comes in the wake of 4 ministers withdrewing their support which has left the NDA led govt to a minority and the Governor has directed to prove the ministry's majority by Sept 15th. As per the cabinet decision the trust vote would be taken up most likey on Sept 14th.

Dravid nominated for ICC Awards
Thursday, September 7, 2006 | MP

Indian Cricket captain Rahul Dravid has been nominated in as many as four categories for this year's International Cricket Council Awards.Dravid's nomination include Cricketer of the Year, Captain of the Year, Test Player of the Year and ODI Player of the Year.Other Indians shortlisted are Yuvraj Singh and Irfan Pathan under the the ODI Player category. Also India's women cricketers Anjum Chopra and Neetu David are nominated for the Women's Cricketer of the Year award. The awards will be later announced by the ICC in October during the ICC Champions Trophy.

Jharkand govt in crisis as 4 ministers quit
Wednesday, September 6, 2006 | MP

The Arjun Munda led Jharkhand government is in trouble with 4 of its ministers resigned from the ministry. With the fall of the NDA govt, the UPA is already making preparations for forming an alternative government in the state.The UPA is claiming the support of 43 MLAs, including the four Ministers who resigned from the Munda Government. Also independent MLA Madhu Koda, is being projected as the next Chief Minister of Jharkand.

Oil firms staff defer strike
Tuesday, September 5, 2006 | MP

In view of the Prime Minister's appeal to the oil firms officers to call off the strike, officers of these firms has decided to defer the proposed strike."We have been given categorical assurance by the Petroleum Ministry that the issues would be resolved within three weeks and hence the decision to defer the strike," said the Oil Sector Officers Association. The employees demands included periodic pay revisions every five years,other allowances and 50 per cent DA merger.Earlier the Ministry also gave assurance that the request for setting up a pay revision committee would be considered positively.

Diabetics controllable wheat crop developed
Monday, September 4, 2006 | MP

Indian scientists at the Indian Council of Agricultural Research (ICAR) has come up with a special variety of wheat crop that could be useful for diabetic patients.This high yeilding variety of wheat will involve slow breaking down of lipids into sugar when consumed.Thereby the sugar level could be considerably controlled.This variety of DDK 1029 wheat strain known as 'Dicoccum' wheat was developed by researchers at the Dharwad centre of University of Agricultural Sciences in Karnataka.

Rs 900cr earmarked for Indo-China border roads
Sunday, September 3, 2006 | MP

Center government has earmarked Rs 900 crore fund towards development of roads along the international boundary connecting India and China.This would include constructing 27 new roads extending over 860 kms in the Indo- China border region over the next four years under the Border Area Development Programme (BADP). Besides this govt is also considering on new project plans for roads connecting India to Nepal and Butan region.

Shiv Shankar Menon is new foreign secretary
Friday, September 1, 2006 | MP

India’s current high commissioner to Pakistan, Shiv Shankar Menon has been appointed as the next India's foreign secretary. Mr Menon will be taking the new post in place of Shyam Saran who is retiring from the post on Sept 30th. However Mr Syam Saran will continue as India's special envoy for the Indo-US nuclear deal.Mr Menon who is 1972 batch IFS officer will take charge from Oct 1st and will have a three year term as the forign secretary.