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Formula One to focus on India, track foundation in October

Brushing aside government’s stand that Formula One is not a sport, F1 supremo Bernie Ecclestone on Wednesday said the foundation stone of the race track in India would be laid in October for the showpiece event next year. Ecclestone said it’s been long time that they have signed the contract with the promoters in India and there was no question of the event being shelved despite the Indian government’s refusal to give concessions. generic levitra

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State to test RBI's new formula for financial inclusion

Encouraged by the success of a pilot to implement the smart card-based electronic benefit transfer (EBT) system on “one district, many banks” model in three districts of the state, Karnataka has shown interest in implementing the scheme in another three districts on a “one district, one bank” model.

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Composite silk unit in near Guwahati

Assam, which produces three types of indigenous wild silks – Muga, Pat and Eri, today got a composite silk unit at Chaygaon Industrial Growth Centre, near Guwahati. The composite unit, or Eri Spun Silk Mill, came up with an investment of Rs. 5.5 crore, which includes infrastructure for spun silk mill, machineries, looms etc. The unit is expected to go a long way in adding value to the silk industry of Assam. The unit was inaugurated by union minister of textiles, Dayanidhi Maran. For the establishment of the unit, along with additional facilities like weaving processing and dyeing etc., the Central Silk Board (CSB), under the ministry of textiles, and the state government of Assam had provided a subsidy of Rs. 155.30 lakh and Rs. 48.10 lakh respectively to the promoter of the unit, Fabric Plus Pvt. Ltd., for installation of machineries, equipments etc. The promoter also contributed an amount of Rs. 22.60 lakh.

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Letters: Pay farmers their due

The Allahabad High Court’s judgment quashing the land acquisition for the ADAG group power plant is more than just the issue of the UP government not following proper procedure. At the heart of this is the reluctance of Indian industry to pay farmers the correct price for their land. - Volume gains - Seeking new funds - Impediment hits Eden Channel opening - Pending coal blocks to be allocated by new Act, says centre - Godrej to launch Ahmedabad township in January - Two consultants bid for tourist beach development in Gujarat The UP government did not notify what purpose the land was being acquired for, but even if it had, what are the chances the price would have been any closer to the market price? Very small. This is important since most major land acquisitions are proving to be difficult and a large number of projects, like the Tata Nano one at Singur, have had to be shelved due to this. Until Indian industry realises that it has to make farmers their partners, this will remain a big bottleneck. Sanjiv Ahuja, New Delhi