1. Sharp cut in funding for India’s N-plan. Is the UPA government buckling under US pressure? Total budget (2008-09) allocation for the Department of Atomic Energy is over 20% less as compared to the allocation in 2007-08 budget. The cut in the funds may affect thorium plans.
2. Mittal sets sights on old coal mines of Coal India Limited, with new technology for redevelopment.
3. Poor off-take of credit by commercial banks during the current financial year signals slowing down of the economy. The main reason for this poor credit growth is reported to be the rise in the interest rate.
4. Pepsi is ahead of Coke in India.
5. The market players in the Bombay Stock Exchange expect a pull-back rally in the BSC sensex this week after it closed below 15,000 mark last week.
6. Real estate boom and soaring prices erode the cost advantage of BPOs in India. Many of the BPO companies are trying to establish their offices in smaller cities to cut costs.
7. There is good scope for firms / cooperatives which extend loans to small time truck operators and traders, to realize “inclusive growth” in the country. Generally, big banks do not give loan to support such small business in the absence of any assets to offer for mortgage. This relation-based concept of lending money should be promoted for the overall growth of the poor in the country.
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