Centre: Additional generation of 100,000 mw power by 2012
Gwalior: Union Power Minister P M Sayeed has said that the centre was targeting the generation of an additional one lakh MW power by 2012, and said that a sum of Rs13,000 crore would be spent in the western region in order to boost electricity generation.

Apart from meeting the demand of domestic and industrial consumers, the Centre also aims at providing power to 1.25 lakh new villages, he added.
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ADB projects lower GDP growth for next fiscal
New Delhi: The Asian Development Bank has forecast a lower 6.1 per cent economic growth for India next fiscal as compared to the estimated 6.9 per cent in 2004-05.

"In 2005-06, GDP growth is likely to decline to 6.1 per cent mainly on account of an expected cyclical decline in the growth of industry and services to 5.2 per cent and 7.3 per cent respectively," ADB said in its latest Economic Bulletin.

The lower growth projection from ADB contrasts with the Finance Ministry's projection of 7-8 per cent growth in the coming years. For 2004-05, the Central Statistical Organisation has projected 6.9 per cent growth as compared to the 8.5 per cent growth in 2003-04.

While projecting a lower growth, ADB has forecast a lower inflation rate of three per cent during the next fiscal compared to 4.2 per cent in 2004-05 and 6 per cent in 2003-04.
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DoT, BSNL and MTNL to meet over integration proposals
New Delhi: The Department of Telecom is scheduled to meet the CMDs of BSNL and MTNL and the consultant I-Sec today to discuss the possibilities of either making MTNL a subsidiary of BSNL or merging it with the other state-owned entity.

ICICI-Securities has suggested that MTNL be made the subsidiary of BSNL as the first option with both the PSU boards remaining independent.

ICICI-Securities is the consultant appointed by Government to look into the possibilities of synergies of BSNL and MTNL. MTNL is listed in India and the NYSE while BSNL is a wholly owned entity of the Government of India.
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IMF: Infrastructure SPV is a positive step
New Delhi: The IMF has praised the Indian government for its initiative towards funding infrastructure. It said the proposed Rs10,000 crore special purpose vehicle (SPV) will not impact fiscal deficit.

IMF Managing Director Rodrigo de Rato said that the SPV was a positive step forward, and within the limits of the budgetary provisions of the government. Setting up a SPV for infrastructure funding was a "good proposal" as it would not only fund public sector but also commercially viable private sector projects.

Finance Minister P Chidambaram in his budget provided a counter-guarantee to the proposed SPV for raising Rs10,000 crore from the market through long term bonds.

The Planning Commission has welcomed the move, but feels it may have an indirect effect on fiscal deficit.

The plan panel had earlier suggested that a small portion of the burgeoning forex reserves, now at over $137 billion, could be utilised for infrastructure development.
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