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Rs 524-crore FDI proposals cleared
The government has cleared nine proposals that will bring in foreign investment of Rs 524 crore, more than half of which would be contributed by Japan’s Mitsui and Company to set up warehousing and container freight stations in the country.

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Global investors' meet on June 3
A two-day global investors’ meet will be held at Bangalore on June 3 and 4. The state government has appointed a vision group headed by Kris Gopalkrishnan, CEO and MD, Infosys.

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SAIL, ONGC, IOC, NTPC may get Maharatna tag
Four public sector giants — ONGC, Steel Authority of India Ltd (SAIL), Indian Oil Corp (IOC) and National Thermal Power Corp (NTPC) — were likely to get in next ten days the Maharatna status, which would empower these Public Sector Undertakings (PSUs) with greater autonomy, a top government official said today.
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Jute packaging law change would affect 40 lakh farmers: Modi

Bihar Deputy Chief Minister Sushil Kumar Modi today claimed that the Centre"s move to amend the jute packaging law would have an adverse impact on 40 lakh farmers of eastern states, including Bihar. - Prakash Jha arrested, Rs 10 lakh seized - Nitish seeks Rs 23,071 cr from PM to combat drought - Virudhunagar to house handloom cluster - Follow the IIT style admission policy, Maran tells NIFT - TextileMin to infuse Rs 1,600 cr into Cotton Corp - Maran moots higher subsidy, tax sops Modi said the existing Jute Packaging Materials Act, 1987 which stipulated 100 per cent use of jute bags for packaging of sugar and foodgrains, was now being amended to help the plastic industry. "Union Textile ministry under the pressure of plastic industrialists of West (Western India) is toying with the idea of amending the existing law to benefit them which would ultimately result in losses to the jute industry in north eastern states, particularly Bihar," Modi said. Once the law was amended, the percentage of packaging of foodgrains and sugar in jute bags would go down from 100 per cent to 75 per cent and as a result, the rest 25 per cent would be packaged in plastic bags, Modi said. Modi, who also holds the finance portfolio, urged the Centre not to take a decision in haste as it would affect 40 lakh jute farmers, 24 lakh industrial workers associated with the jute industry and 5 lakh traders. Modi also said the Centre"s move would have an adverse impact on the Bihar government"s plan to set up a "Jute Park" under public-private partnership mode at an estimated cost of Rs 150 crore at Maranga in Purnia district. The Bihar Industrial Area Development Authority (BIADA) had earmarked 44.5 acres of land for the multi-purpose jute park, he added.


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