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Sunil Jain: Connecting Bharat
The budget is big on rural India and allocations for the Bharat Nirman project, for instance, have been hiked 45 per cent over those allocated in Budget 2008-09 — within this, allocations for projects like the Pradhan Mantri Gram Sadak Yojana have been hiked 59 per cent. While that’s all very well, it would be a good idea to see what’s happening on the government’s plans for connecting rural India, not by roads but by telephones. As compared to urban areas where around 90 per cent of people have phones, tele-density is just around 15 per cent for rural India.

Plan panel to begin Budget discussions in 2-3 weeks
The Planning Commission today said it would start interacting with Union ministries over the next two-three weeks over their demands for gross budgetary support for 2010-11.

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Indiabulls Power IPO subscribed 5.8 times
Indiabulls Power Ltd, partly owned by billionaire Lakshmi Mittal, got more than Rs 6,480 crore ($1.4 billion) of bids, or 5.8 times the shares being sold in its initial public offering (IPO).
Corporate

Fiat India may consider price hike

Carmaker Fiat India Automobiles today said it will consider raising prices of its products as the margins are under pressure. - Tata Motors plans to launch smaller light commercial vehicle - Govt-industry partnership must for auto sector"s revival: Kant - Two new cars from BMW to meet sales target of 3,000 units - Honda Siel postpones completion of Rajasthan plant by 2 yrs - Mercedes-Benz sales may dip in 2009 - Honda Motorcycle to ramp up production to meet sales target "There are no margins left ... We may look at revising our prices upward," Fiat India Automobiles President Rajeev Kapoor told reporters on the sidelines of the SAIM annual convention here. The company expects sales to cross 27,000 units this year on the back of newly launched small car Grande Punto and sedan Linea. Kapoor also said the company would start exporting Linea to South Africa from September this year. Fiat India Automobiles — the 50:50 joint venture between Italy"s Fiat and Tata Motors, has recently arranged Rs 2,500 crore financing for completing the construction of its manufacturing facility at Chakan. Fiat had announced Rs 4,000 crore investment in India operations.


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