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Govt clears FDI for non-priority sector
In a clear departure from the Bharatiya Janata Party's (BJP) policy, Finance Minister Yashwant Sinha has said he will welcome Foreign Direct Investment (FDI) in non-priority food processing and export-based consumer industry. He also asserted that the BJP government's swadeshi approach would not have any "negative impact" on the FDI flow.
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Cong to open door to small parties
Sonia Gandhi yesterday took an important step in giving the Congress' future strategy a direction by dropping negative references to the era of coalition politics, especially smaller parties, in the draft political resolution in a CWC meeting. The draft was cleared for today's AICC session scheduled to ratify Sonia's election as party president.
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ADB, French co plans stake in Petronet
The Asian Development Bank (ADB) and Gas de France will pick up equity stakes in the Rs 1,200-crore Petronet LNG Consortium promoted by the public sector oil majors GAIL, ONGC, IOC and BPCL. The Petronet LNG structured on a debt equity ratio of 2:1 is promoting three LNG terminals in Kochi, Dahej and Ennore.
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Not on home turf: Ministers scramble for a roof above
With a new Government firmly in the saddle, a scramble has begun among newly-appointed ministers for government accommodation of their choice. The pressure on the Urban Development Ministry began immediately after the new Council of Ministers was sworn in. With a majority of ministers needing accommodation, the pressure on government accommodation is immense.
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