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  01 MAIN
   
   
  02 NEWSMAKERS
   
   
  03 INVESTMENT UPDATE
   
   
  04 TRADE & ECONOMY
   
   
  05 SCIENCE & INFOTECH
   
   
 

06 TREND

   
   
  07 TRAVEL
   
   
  08 CALENDAR
   

   
  HIGHLIGHTS
   
 

India’s space missions plan drawn up
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  Indian Investments Abroad: An Overview
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  Holiday in Kashmir Valley
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 02. NEWSMAKERS

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Union Budget 2008-09 : Highlights

  • Maize production to be 16.78 million tonnes
  • Rice production to be 94.08 million tonnes
  • Total agri production to be 219.32 million tonnes at all time high
  • Agri credit doubled in first two years
  • Focus on achievement of self-sufficiency in food grain
  • Agriculture credit to touch US$ 60.17 billion in 2008
  • Gross Budgetary support to be US$ 61.01 billion about US$ 9.59 billion more than 2007-08
  • Education & health to get 20 per cent more from US$ 7.18 billion to US$ 86.12 billion
  • Bharat Nirman allocation to go up to US$ 7.83 billion from US$ 6.16 billion
  • About 6,000 high quality schools to be built by 2009
  • 3 IITs to be set up in Bihar, AP, Rajasthan
  • 16 new Central universities to be built
  • Bhopal and Tripura to get one IIScR each and 2 colleges of art
  • 410 additional Kasturba Gandhi Vidyalaya to be set up in backward blocks.
  • Navodaya Vidyalayas to be opened in 20 districts with special focus on regions having SC/ST concentration. Allocation of US$ 32.54 million for this purpose.
  • Healthcare allocation to be raised by 15 per cent
  • US$ 21.28 million sanctioned for scholarships to students pursuing science education.
  • NRHM to get US$ 312.93 million budgetary allocation
  • Allocation for ICDS increased to US$ 1.58 billion
  • A national programme for the elderly to be started at a cost of US$ 100.14 million

continued from page 01

Other highlights of the Economic Survey:

  • Foreign reserves at US$ 290.8, up by US$ 91.6 billion from a year ago
  • Total foodgrains production marginally high at 219.3 million tons in 2007-08 from 217.3 million tons
    last year
  • The agriculture, forestry and fishing sector is estimated to grow at 2.6 per cent during 2007-08, as against the previous year's growth of
    3.8 per cent
  • Talent shortage leading to high attrition and rising wages, contributing to cost-push inflation
  • The Economic Survey favours liberalising debt and currency markets; removal of constraints on agriculture and urban land supply
  • Export growth at 20.3 per cent in 2007
  • Number of telephone connections at 272.88 million as on December 31, 2007; tele-density at
    23.9 per cent
  • The government has set an ambitious target of providing 200 million telephone connections in the rural areas by the end of 2012
  • The rate of growth of per capita income has sharply climbed to 7.2 per cent p.a. - implying that average income can virtually double in a decade
  • India April-Nov '07 FDI at US$ 11.14 billion; Raise FDI in insurance, retail
  • Food procurement, distribution spend up in
    FY07-08
  • Greater debt and equity issues in primary market
N R Naryana Murthy receives highest civilian honour of France

Infosys mentor receives twin honour - Officer of the Legion of Honour by the government of France and the Padma Vibhushan by the government of India
Infosys mentor N R Naryanamurthy was conferred with the Officer of the Legion of Honour, the highest civilian distinction of the Government of France.

The French honour for Narayanamurthy comes on a day when he was chosen for Padma Vibhushan, the second highest civilian award of the country.
French minister of higher education and research, Valerie Pecresse bestowed the honour to the "most admired business leader" of India at a glittering function here this evening. Created in 1802 by Napoleon Bonaparte, the Legion of

Honour is the highest civilian distinction that can be conferred in France regardless of the social status or the nationality of the recipients. Pecresse acknowledged the humble beginnings of Infosys, which was co-founded by Narayanamurthy in 1981 along with six friends and $215 in the pocket.

"Infosys, which employs over 82,000 staff, is a shining example of development in India," she said. Accepting the distinction, Narayanamurthy said he was extremely greateful to the government of France for honouring him and that he would try and work hard to be worthy of the confidence and trust that had been bestowed on him. Narayanamurthy, who pursued higher studies in France, said it was a country he loved most after India.

Indian to head eBay's core auction business

In a top-order rejig at eBay Inc, Meg Whitman has resigned as its CEO, while the world's largest internet auction firm has brought in India-origin former finance head Rajiv Dutta to the board. In a late night announcement on Wednesday, eBay said that Whitman would step down as its President and CEO on March 31 and would be replaced by John Donahoe, currently head of its core auction business. The company also announced that Rajiv Dutta, currently President of its PayPal unit, has been named Executive Vice President of eBay Inc and would replace Donahoe as President of auction business unit - eBay Marketplaces. Dutta, who will report to Donahoe, has also been elected to eBay's Board of Directors. Whitman, the outgoing CEO who had joined eBay in 1998, would continue to remain on the board.



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