Executive Briefing

Inflation rises to 6.51%: The annual inflation rate continued its sharp upward march and touched 6.51 per cent for the week ended May 23, compared to 6.35 per cent a week ago. A year ago, prices stood at 5.67 per cent. Inflation ruled over the 6 per cent-mark for the fourth successive week as the wholesale-price index rose owing to a spurt in prices of soyabean, urad and milk, cotton-seed oil, kardi oil, rape and mustard-seed oil, gur, cigarettes and industrial alcohol.

Rs 500cr shortfall in VDIS receipts: Revenue receipts from VDIS fell short by about Rs 500 crore, official sources said on Sunday. The sources said the amount collected was Rs 9,583 crore, against an earlier estimate of Rs 10,050 crore. They also said Rs 7,594 crore, amounting to 77.5 per cent of the revenue receipts, was paid to state governments last year.

PHDCCI calls for more investment in farm sector: The new agriculture policy should give thrust to public investments in the agriculture sector, the PHD Chamber ofCommerce & Industry has said. The chamber also stressed upon the need to give attention to public investment in soil and ground-water conservation in the new policy.

Rs 1,482cr provision in budget for non-plan loans to PSUs: A provision of Rs 1,482 crore has been made in the 1998-99 union budget for non-plan loans to public-sector enterprises, against Rs 1,106 crore last year. The increase has been made mainly for payment of salaries and wages to employees of sick and convalescent PSUs, ministry sources said.