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RBI says time not ripe for PSB consolidation
Barely a week after the finance ministry officials met leading state-owned banks to push mergers through buyouts of smaller banks, the Reserve Bank of India (RBI) today said the banking system is not yet ready for consolidation.

'Nuclear programmes to gain momentum with UPA back in power'
The Indo-US nuclear deal and India"s subsequent entry into the Nuclear Suppliers Group (NSG), ending 34 years of nuclear isolation, has thrown open business opportunities worth an estimated $100 billion by the year 2032. The country is planning to increase its nuclear power generation by about 60,000 mega watts (Mw) within the next 25 years. This planned capacity addition is being executed by the state-owned Nuclear Power Corporation of India Ltd (NPCIL). Its head, Chairman and Managing Director SK JAIN, tells P B JAYAKUMAR about his plans and expectations. Excerpts:

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Tractors exporters to get 4% duty refund
To encourage sales of tractors abroad, the government has announced a four per cent duty incentive on export of the vehicle.
Small Business

Rs 110,000 cr highway projects to be executed in 3 yrs

Highway projects worth about Rs 110,000 crore will be executed in the country over the next three years, Minister of State for Road Transport and Highways R P N Singh informed the Rajya Sabha today. - Govt to invite bids for 10 mega highway projects soon - Govt admits to delays in 145 highway projects - NHAI identifies 10 mega projects worth Rs 45,000 cr - Govt okays Rs 10k cr highway projects in three states - New highway bidding scheme to save time - Govt to invite bids for three mega road projects "The Government has formulated work plans for National Highway sector for 2009-10 for projects aggregating to 15,911 km," he said replying to supplementaries during Question Hour. Out of this, 11,947 kms are under various phases of National Highway Development Project (NHDP) that are being implemented through National Highways Authority of India at an approximate cost of more than Rs 100,000 crore. The remaining 3,964 km under NHDP Phase-VI-A and other projects are to be implemented through NHAI and the state governments at an approximate cost of Rs 9,892 crore, he said. "These projects are to be implemented mainly on public-private partnership (PPP) basis in next three years," he added.


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