17.10.2006

Tatas set to take over Corus for $9 bn
The new entity will become the sixth largest steel maker in the world with an annual production of 23 mln tonnes.

NSE trades ties with regional stock exchanges
The MOU will give the regional stock exchanges’ members the right to trade on the NSE platform. Members of the RSEs can issue contract notes for trades done on the NSE order book.

NSE will also allow securities listed in the RSEs to be traded on its platform.

NSE has close to 70% of the total turnover in local equities market.

Market cap races past the GDP
For the first time in the history of Indian stock markets, the market capitalization of the BSE has crossed the country’s domestic GDP. It stood at Rs. 33 lakh cr on Friday, as against the country’s GDP of Rs. 32 lakh cr.

Thus India joins an exclusive club of developed markets, including the US, the UK, South Africa, Malaysia and Singapore.

SC questions the basis for 27% quota for OBCs
While the Mandal Commission, which first made out a case for reserving 27% seats in government jobs and educational institutions for the OBCs, relied on the 1931 census, Round 2003 of the National Sample Survey pointed out that non-Muslim OBCs comprised 32% of the total population. The figures obtained by the National Family Health Survey indicate that the non-Muslim OBC population was about 30%.

The NSSO data and in particular, some of the figures were simply unpalatable for the pro-quota lobby in the oversight committee:

The status of OBCs is only slightly different than that of the people belonging to the general category in so far as health indicators are concerned. In some states these indicators are even better than that of the general category people.

The land-holding pattern of the OBCs and the general category people shows only a slight variation.

Unemployment and under-employment among the OBCs is lowest among all social groups in the rural areas, but only slightly higher than the upper castes in urban areas.

The total balm (pain balm) market is pegged at Rs. 250 cr.

POSCO’s investment plans for country have undergone a revision. It is now planning to invest close to $27 bn. Over the next 7 years.

The book industry in India at placed at Rs. 3,000 cr with organized market accounting for Rs. 100 to Rs. 200 cr.

AP pins hopes on SEZs for jobs
Andhra Pradesh is looking at creating 4.7 lk fresh jobs from the new SEZs that are coming up in the state. So far about 48 SEZs are given approval.

Plan panel favours merger of mid-day meal scheme and SSA (Sarva Siksha Abhiyan)
The Ministry of HRD is not favour of clubbing the two schemes fearing that it will create a behemoth that is unable to deliver the goods.

It also appears that the rules of business may not allow a merger of the two schemes. The SSA is administered by the SSA state society and the money given by the Centre goes to the society; not to the state government. In contrast, the mid-day meal funds are given to the state government.

Cross-border M&A deals up 88% in 2005
According to the World Investment Report 2006 prepared by UNCTAD the cross border mergers and acquisition deals have touched $716 bn in 2005 and their number is at 6134.

There has been an overwhelming spur for the total FDI inflow globally, which has risen 29% to $916 bn

Grain output estimates for India are put at 208 mln tonnes.

Oil seed production is estimated to touch 13 mln tonnes.
Acreage under the oil seeds declined by 1 mln hectares to 157.21 lk hectares.

PDS accounts for less than 10% of the food requirements people living in the BIMARU (Bihar, MP, Rajasthan and UP) states.

India is among the top 10 global suppliers of aluminium and steel in the world.

Governments – State and Central – spend more than 20% of their budget on the purchase of goods, works, and services.

More than 90% the human brain develops during the first two years of a child’s birth.
Only about 16% of all babies in the country start breast-feeding within an hour of their birth.

Agriculture, the largest private sector in the country employs approximately 65% of the population.

The Indian express courier industry is worth Rs. 7,100 cr ($1.6 bn) with 2500 players.