TATA BACK ON TRACK May 31, 2010
Posted by admin in : Indian Economy , add a commentLast year was a bit nightmare for Mr. Ratan Tata, the major car maker in the country. I say the last year to be a nightmare for him as he had to face a lot of problems with the politicians in order to set up his dream project. By dream project, I mean to say Nano project, the one lakh car project. Due to political pressure, he had to shift his project location completely bearing huge loss of time, labour and money of course. This project is not only the dream project of MR. Ratan Tata, but also for the millions of people in India who dream of owning a car. Now they have come over their setbacks, as the car will be ready to roll out soon.
RAILWAYS MOVING ON LIKE A CHEETAH May 23, 2010
Posted by admin in : Indian Economy , add a commentThe rail fares have been cut by two per cent in Mr. Lalu Prasad Yadav’s interim budget. The main feature of this budget is the introduction of about forty three new trains. In addition to this, plans have been proposed for the extension of fourteen train services. The annual plan for 2009 – 2010 amounts to Rs.37, 905 crore. Though there is no change in the freight rates, the work on eastern dedicated freight corridor has already started and that on western dedicated freight corridor is ready to commence this month. In addition to all these, two new railway divisions at Bhagalpur and Thawe have been proposed. Pre-feasibility studies for running high speed bullet trains are under process too.
WORLD BANK BANS MEGASOFT May 16, 2010
Posted by admin in : Indian Economy , add a commentAfter World Bank banned Satyam computer services from doing business with it for eight years, it is now the turn for Megasoft consultants, a mid tier company based in Hyderabad to face the ban for four years from 2007. Just few days ago, Wipro had disclosed that it has been banned by the World Bank for four years which is also from 2007. Though the company has accepted it, the company’s chairperson Mr. Azim Premji has told the media that they are not at the wrong side and that what they did was right. He affirmed it by saying that Wipro was right from both legal as well as ethical stand point. This shows the spirit of the IT major. Following this, the World Bank is all set to disclose the names of companies with which it won’t be having any direct dealings.
SATYAM (TRUTH) LIED TO THE WORLD May 9, 2010
Posted by admin in : Indian Economy , add a commentThe recent hot topic around is the cooking up of the revenues in Satyam’s report by Mr. Ramalinga Raju. Though he has confessed that does not make him right. There were many views from all around the world. The corporate world sees it as a black mark on the Indian IT industry. In order to avoid it from further damaging the nation’s name in the field, the government is taking all possible steps. The big shots in the field are very disappointed by this act from Mr. Ramalinga Raju. Investigations are going on a full throttle after Mr. Ramalinga Raju surrendered. He had no other options than surrendering to the police. This was never expected from a man of his stature. Few believed him to be their role model too. What has he got in reply for those people?
LEATHER AND TEXTILE SECTOR DISAPPOINTED May 3, 2010
Posted by admin in : Indian Economy , add a commentThe textile and leather exporters, who are the major earners of foreign exchange, are not very much attracted or enthused by the second stimulus package announced last week. India had earlier set the target of reaching 4 million dollar mark in the leather sector, but with no practical help for the leather and textile industry in the stimulus package two, India may fall well short of the fixed target. There is huge competition between India and China in this sector. But with the present stimulus package providing no support to it, this may even lead to a loss in exports and in employment as well.