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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: k.ramesh who wrote (1192)	6/1/1998 8:19:00 AM
From: Mohan Marette	Respond to of 12475

Indian budget highlights. Ramesh and every one: y'all have any opinion,it looks pretty good to me but I haven't read the details yet. Forget the G-8, set the CEO's of America's top 20 businesses and exporters and see where their interest lie is what this is telling me. This I like.<gg> +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ BUDGET '98 HIGHLIGHTS Banks's non-performing assets to be brought down from 9 per cent to 5 per cent 50 per cent increase in allocation for education, up to Rs 70.47 billion. NABARD asked to formulate a scheme for Kisan Credit cards. The Budget aims at being growth-oriented, with special thrust on agriculture, rural development. Plan allocation for agriculture to be increased by 58 per cent Rs 16.27 billion for rural water supply to benefit 100,000 houses. Persons of Indian origin cards to be issued to NRIs holding foreign passports Disinvestment in IOC, GAIL, VSNL and CONCOR Government shareholding in public sector undertakings to be brought down to 26 per cent All FDI clearance in 90 days New system for foreign investment Furtures trading allowed in oil seeds, oil cakes, edibile oils Defence allocation for 1998-99 pegged at Rs 412 billion Watershed development allocation increased to Rs 6.77 billion from Rs 5.17 billion