The Week That Was:-29th June - 5th July
Sunday, July 5, 2009 , Posted by Silent Observer at Sunday, July 05, 2009
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Railway Budget 09-10
Railways Minister Mamata Banerjee on Friday unveiled a massive plan to revamp railway stations in the country, saying that 50 stations in large cities would get world class facilities, while 50 more would have multi-functional complexes.
Presenting her ministry's budget for the current fiscal in the Lok Sabha, Banerjee said: "The world class facilities in the 50 stations will be developed through innovative financing and under public private partnership mode."
RNRL moves SC to restrain RIL from supplying gas
Reliance Natural Resources Ltd of the Anil Ambani group has filed a Special Leave Petition in the Supreme Court. It has sought the court's direction to Reliance Industries Ltd to execute a bankable agreement in line with the Bombay High Court judgment in the Krishna-Godavari basin gas sharing case. Meanwhile, RIL also filed a caveat in the Supreme Court on Friday to ensure that it is given a chance to explain itself in the case. On June 15, the Bombay High Court asked Reliance Industries to supply 28 million standard cubic metres a day of gas from the Krishna-Godavari basin to RNRL for $2.34 million British thermal unit.
WPI seen down 1.35 pc yr/yr
The annual Wholesale Price Index-based inflation stayed in the negative territory for the third week in a row, falling 1.3 per cent for the week ended June 20 after tumbling 1.14 per cent the previous week. The dip in the year-on-year inflation rate was recorded even as prices of food items such as fruits and vegetables rose compared with the same period last year.
Merchandise exports decline for eighth consecutive month
Exports in May continued the declining trend and plummeted 29.2 per cent compared with May 2008. Provisional figures for May put exports at $11 billion, down by 29 per cent from $15.5 billion in the same month of 2008. For the first two months of the current fiscal they were down 31.2 per cent at $21.7 billion compared with $31.6 billion in the corresponding previous period. Imports in May at $16.2 billion were down 39 per cent from $26.7 billion in May 2008. While for April-May they were down 38 per cent, at $31.9 billion over the 2008 period.
