Steps to reduce SSI ceiling underway, says Bakht

He said industry representatives had been pressing for lowering the investment limit for SSIs from Rs 3 crore to Rs 1 crore with the apprehension that a major portion of institutional credit would be cornered by bigger small units.

Sick PSUs: As many as 62 sick central public sector undertakings (PSUs) have been registered with the Board for Industrial and Financial Reconstruction (BIFR), Bakht said. He said out of the 62, two PSUs have already been revived and BIFR has approved a revival package for 19 another PSUs.

Cost Overrun: Bakht said as on December 1997, 454 central sector projects had a total cost overrun of Rs 21,063 crore, including cost overrun onaccount of rise in input cost of oil, coal and freight traffic.

Growth: The minister said the decelaration in industrial growth was percieved to be the cumulative effect of many macro factors, which include, subdued export growth, slowdown in investment and sluggishness in demand.

Patents: The industry minister said the government has taken no final decision on amending the Patents Act, 1970. He said the government has set up an expert group under chairmanship of Raja Ramanna, Member of Parliament, to advise the Industry Minister on matters pertaining to intellectual property rights and related issues.

Trade Deficit: Commerce Minister, Ramakrishna Hegde said trade deficit for the year 1997-98 in dollar terms stood at $ 6,799 million. He said the increase in trade deficit was primarily due to increased import of fertilisers besides capital goods, raw material and intermediate goods.

Hegde said exports registered a growth rate of 2.64 per cent in dollar terms in 1997-98 compared to20.8 and 4.01 per cent (provisional) during 1995-96 and 1996-97 respectively.