Unlisted IT cos told to meet Sebi norms

The government is encouraging the IT companies both for domestic production and exports due to the significant development taking place in the area of information technology worldwide for catalysing economic activity and electronic governance, he said.

GDP: Minister of state for planning and programme implementation Arun Shourie said there was no proposal with the planning commission to scale down the planned growth rate off 6.5 per cent annually as set out in the ninth plan.

He said as per the Central Statistical Organisation, the growth in gross domestic product (GDP) had been six per cent in 1998-99 and five per cent in 1997-98 as against 6.5 per cent during five year period of 1997-2002.

IISCO REVAMP: Minister for state for steel Dilip Ray said that any scheme to be taken up for reviving or modernising the Indian Iron and Steel Company (IISCO) would have to be in accordance with orders of Board for Industrial Finance and Reconstruction.

Replying to a question on modernisation of IISCO, Ray said IISCO was a sick company and had been under reference to BIFR since June 1994 and a revised proposal had been received by the Steel Authority of India (SAIL) which inter alia included writing off of accumulated losses. The SAIL proposal had also envisaged an investment of Rs 798 crore for revival of IISCO, he said.