January, 2012

Leather exports will touch the target

Export of Indian Leather and Leather products will touch the targetted figure of $4.72 billion for current fiscal. The first five months of the current year, the exports touched $2.74 billion against $ 2.15 billion for the corresponding period last year, marking an increase of 27.33 per cent both in terms of dollar and rupee. Last year, Indian Leather Exports were $ 3.5 billion.

Power scenario matter of concern

The power scenario continues to be a matter of concern inspite of the State govt`s best efforts, Governor K. Rosaiah told the Assembly. To revive the sinking power utilities from the financial mess, the govt. had provided2,600 crore as share capital support and 955 crore as loan. “This govt is making all-out efforts to improve the energy availability and reduce the power shortage”. Since the assumption of office by the present govt., the capacity addition was 30 megawatt (MW) under the state sector, apart from a share of 113 MW from Central Generating stations. Besides, windmills of 556 MW had been established New Projects with a total capacity of 4,704 MW would be commissioned in two years.

Plan for 1.85 lakh crore announced

Despite the negative impact of the economic slow down that has led to the scaling down of growth projections for the current fiscal at the national level, Tamil Nadu plans to spend massive sums on infrastructure and social security in the 12th plan period (2012-17). Governor announced an ambitious outlay of  1,85,000 crore for plan schemes over the next five years. The figure will be more than double the size of the 11th Plan outlay of  85,000 crore, the Governor said in his address to the Tamil Nadu Assembly” This will put Tamil Nadu back on the path of accelerated growth”.

Housing project for cyclone – his districts

A  1000 crore project of building one lakh concrete houses in cyclone-hit districts such as Cuddalore and Villupuram was the highlight of Governor K. Rosaiah`s address to the Assembly. Mr. Rosaiah, who delivered his first address as Governor since assumption of office in August, said the state would take up the constitution immediately to replace the damaged huts in the districts. A detailed memorandum, spelling out the quantum of damage and seeking a special package of  5,248 crore from the National Disaster Response Fund, had been submitted to the Centre.

Unfairly limiting China`s export – WTO

In a report, the WTO says that China is unfairly limiting its exports of several crucial raw materials, which is giving an undue advantage to Chinese manufacturers.

Finance ministry announces new rating index

The Finance Ministry announces that it has come up with a new rating index. Named Comparative Rating Index of Sovereigns (CRIS), it is compiled on the basis of sovereign ratings of various countries put together through rating adata of Moody`s and GDP data of IMF.

GDP growth

The Central Statistical Organisation (CSO) revises India`s GDP growth estimates for 2010-11 slightly lower to 8.4 percent from 8.5 projected earlier.

India chooses the French fighter Rafale

India chooses the French fighter Rafale over the Eurofighter Typhoon in the high-profile deal for the supply of 126 Medium Multi-Role Combat Aircraft (MMRCA). Estimated at $10.4 billion, it is the country`s largest defence deal to date.

Can buy laptops from constitutency fund

Chief Minister Jayalalithaa for one-time purchase of personnel computers or laptops with internet connection and printers for all MLAs from their constituency dvelopment fund. A state govt. press to release said the MLAs could buy either a personnel computer or a laptop from the “unspeficifed fund`s of  87.50 lakh of the total constitutency development fund of  2 crore for the year 2011-12. Chief Minister Jayalalithaa increased the MLAs constitutency development fund to  2 crore during the debate on the revised budget estimate in 2011-12.

Renovation of Anna, MGR memorials

Chief Minister Jayalalithaa has sanctioned 8.90 crore for renovation of the memorials of former Chief Minister C.N. Annadurai and M.G. Ramachandran on the Marina. Thousands of people visited these memorials every day and the govt. wanted to keep the places and the environment clean. An announce-ment to this effect was made during the debate on the demand for grants for Information Department in 2011-12.