India received less than 1 pc of global FDI: UNCTAD
New Delhi: India received less than 1 pc of the overall global foreign direct investment (FDI) inflows in 2005 at $ 6.59 billion out of the global FDI flows of $916 billion.

In 2004, inflows stood at $5.47 billion, a United Nations Centre for Trade and Development (UNCTAD) report said.

Despite the 20.5 pc increase, India's position slipped 7 places to 119 in the inward FDI performance index, down from 112 in 2004.
Outward flows by Indian firms in 2005 also declined to $ 1.36 billion, down 32 pc from $2.02 billion the year before (this may change this year, as the trend of Indian companies acquiring overseas firms has seen an upturn).

The report added that Indian received $120 billion FDI in real estate in 2005 while China attracted $ 5.4 billion in its real estate sector during the same period. Only one Indian state owned firm - Oil and Natural Gas Corporation - is in the list of top 100 non-financial transnational corporations from developing countries (ranked 26 on the basis of its foreign assets in the list).

The UNCTAD report said the United Kingdom was the largest recipient of FDI flows in 2005, receiving $164.53 billion, followed by the US with $99.44 billion, China $72.406 billion, France $63.57 billion and the Netherlands $43.63 billion.

In terms of outward FDI flows, the Netherlands emerged on top of the list with $119.45 billion of investments made overseas. France comes next with $115.66 billion, followed by UK with $101.09 billion, Japan $45.78 billion, Germany $45.6 billion and Switzerland $42.9 billion.
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Government to amend Telegraph Act
New Delhi: The government plans to issue an ordinance to amend the Indian Telegraph Act and bring mobile telephone services in rural areas under the Universal Services Obligation (USO) Fund.

With this mobile operators can share the infrastructure to roll out their services.

Telecom operators pay around 5 per cent of their revenue towards the fund, which was set up in 2002 and has around Rs7,000 crore corpus at present.
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SC questions basis of arriving at 27 per cent quotas for OBCs
New Delhi: The Supreme Court has questioned the rationale and basis behind the decision to set aside 27 pc seats for the OBCs in higher educational institutions giving a shock to the Manmohan Singh government. A division bench comprising Justice Arijit Pasayat and Justice LS Panta, while questioning the basis of the reservation policy, directed the government to submit before it the report of the parliamentary standing committee engaged in vetting the bill reserving 27 per cent seats for OBCs in all centrally-aided higher and technical institutes, barring those offering specialised courses.

The Supreme Court ruling may land the UPA government in a soup, as it would be pressed hard to obtain the data to justify its case. Figures about the exact OBC population and their socio-economic status remain hazy, with different agencies arriving at different numbers. It is this issue which is now under the apex court's gaze in response to petitions filed by AK Thakur, a lawyer, and motivational guru Shiv Khera who have cited the lack of adequate data to question the government's decision to reserve 27 pc seats for OBCs.
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Panel set up on pvt sector quota
New Delhi: The central government has taken a step forward to ensure affirmative action in the private sector. Prime Minister Manmohan Singh has constituted a co-ordination committee for 'time-bound examination' of suggestions and action-points the government has received from various stake holders on the ongoing efforts to ensure a SC/ST quota in the private sector. The committee has been asked to submit an interim report within six months, followed by a final report within one year.

The co-ordination committee, under the chairmanship of the principal secretary to the prime minister, will also "identify and evolve the concrete steps arising out of the implementation of these suggestions and will also suggest ways and means of government assistance and support to the implementation process," according to a PMO release.
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