Asian Development Bank on Tuesday said it would raise one billion dollar through bonds in India to provide Rupee denominated loans to public sector undertakings or state government projects."We have sought permission from the government to raise one billion dollar. We expect the permission to be granted early this year," ADB Principal Economist (Indian Resident Mission) Narhari Rao told reporters in New Delhi.
He said the proposal is for a blanket loan and there is no time-frame for disbursing it.
The loans, mostly meant for infrastructure projects, would be disbursed as and when the demand arise, he added.
Courtesy : Express India
ADB to raise $1bn via bonds
January 17, 2007, 9:31 amIndia may not sustain 9% growth rate: Moody's
January 17, 2007, 9:30 am
International rating agency Moody's Investors Service said on Tuesday that India may not sustain a 9 pc growth rate momentum due to capacity constraints, and there are a lot of signs of overheating in the economy.
"India cannot continue at 9 per cent-plus growth momentum as capacity bottlenecks may prove a constraining factor," Moody's Vice-President Kristin Lindow said.
She said there were a lot of signs of overheating, such as consumer credit, and added inflation would stay above the RBI's comfort zone due to the tendency to accommodate current growth momentum in the economy.
Courtesy : Express India
"India cannot continue at 9 per cent-plus growth momentum as capacity bottlenecks may prove a constraining factor," Moody's Vice-President Kristin Lindow said.
She said there were a lot of signs of overheating, such as consumer credit, and added inflation would stay above the RBI's comfort zone due to the tendency to accommodate current growth momentum in the economy.
Courtesy : Express India
For India's sake, Murthy takes on politicos
January 17, 2007, 9:26 am
Squarely blaming the bureaucracy for India's slow progress, Infosys Chief Narayana Murthy said in order to bring accountability, the government needs to start performance-linked incentives."There is no linkage between performance and reward in our governments. Hence, most projects get delayed inordinately," Murthy said while delivering the fourth Nani Palkhiwala lecture on 'Making Globalisation Work for India'.
However, he added that most of the delays in execution had very little to do with our political system, rather it was the lack of attention to speed and excellence.
Maintaining that the administrative mindset has to be changed with the managerial one, he said that a large part of the bureaucrats' salary must depend on the progress of projects handled by them.
Courtesy : Express India
However, he added that most of the delays in execution had very little to do with our political system, rather it was the lack of attention to speed and excellence.
Maintaining that the administrative mindset has to be changed with the managerial one, he said that a large part of the bureaucrats' salary must depend on the progress of projects handled by them.
Courtesy : Express India
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