The government has awarded almost zero projects under the National Highway Development Programme between July and December this year, according to senior government officials.
The country’s largest domestic carrier, Jet Airways, has announced a staggering 50-per cent cut in its basic fares across all domestic routes following a dip in the passenger load factor and fuel prices.
RBI Governor D Subbarao on Thursday promised to maintain a comfortable liquidity position and adequate credit flow to productive sectors, indicating that more steps to keep the growth momentum could be on the anvil.
In a significant move aimed at disciplining investor behaviour, the Sebi decided that no early exit will be allowed in any close-ended schemes and asked fund houses to list them on stock exchanges.
Amidst cost cutting and freezing of new recruitments at his company, Infosys Technologies CEO S Gopalakrishnan projected a growth of 15 per cent of the technology sector in 2008-09.
Federal Reserve Chairman Ben Bernanke called on the government to ramp up efforts to stem soaring home foreclosures, which are feeding into the country’s deep economic troubles.
In a bid to offer much-needed succour to the domestic steel producers from shooting raw material prices, state-run mineral giant NMDC decided to reduce the long-term prices of iron ore by a flat 25 per cent, but the move has failed to enthuse producers who said they had expected a better deal.
After the Prime Minister taking to task the road transport and highways ministry for delay in projects, it has come to light that the finance ministry too had criticised its functioning.
