Government overdraft comes down
Mumbai: The Reserve Bank of India’s lending to the government as ways and means advances has fallen during the week ended 26 November. According to the Weekly Statistical Supplement published by the RBI, loans and advances to the central government fell to Rs 1,407 crore in the week from Rs 6,043 crore in the previous week. The decline has been mainly on account of the government’s mobilisation of Rs 5,000 crore through an issue of dated securities on 22 November.

The forex reserves of the government have increased from $31 billion to $34.29 billion in the week ended 3 December.
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New civil aviation policy soon
New Delhi: The government will announce its new national aviation policy in early 2000, according to Ravindra Gupta, civil aviation secretary. The policy will open up more areas of the country to air services fed by turbo-prop aircraft, and address the concerns of the aviation industry, Mr Gupta said.

Addressing an international conference on 'Tourism for Sustainable Development', organised by the Associated Chambers of Commerce and Industry, Mr Gupta said the new policy will give greater access to private participation in all segments of the aviation infrastructure and provide a level playing field to both foreign and domestic players. The policy, he said, will address the concerns of the airline industry relating to aviation turbine fuel prices and the modernisation of the air traffic control system.
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Six port plans to be approved
New Delhi: The government is likely to approve six port projects worth Rs 800 crore, it is reported. The projects include the second liquid chemical and captive coal and general cargo berths at Mumbai, two new and one existing multi-purpose berths for captive users at Visakhapatnam, and barge handling facilities, a berth, and truck parking complex at Kandla. The government has already approved 12 other port-related projects worth a total of Rs 3,726 crore.
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