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The Balladeer in reading gaol
Nilanjana S Roy / New Delhi December 1, 2009, 0:39 IST

Finally, banks admit they will miss credit targets
Public sector banks have almost given up on meeting the 20 per cent credit growth target they had set at the start of the current financial year. And, unlike the past, they are now acknowledging about missing the target.

News of the day

Maruti getting its first hires from Detroit
Eight automobile engineers from Detroit, the car capital of the United States, will join Maruti Suzuki’s operations in India in the next two months, as part of the start of the latter’s plan to transform itself as the largest research and development centre for parent Suzuki outside Japan.
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Exports from STP units up 15% to Rs 2,07,358 cr

The government today said exports from Software Technology Parks (STP) increased 15.1 per cent to Rs 2,07,358 crore in 2008-09. - STPI tax benefits to be extended: Raja - Raja for 2-yr extension of tax sops for IT under STPI - LS okays merger of State Bank of Saurashtra with SBI - Commercial activities of banks cannot be monitored by MPs: FM - Oppn urges govt to safeguard sugarcane growers interest - No CBI probe into Jaipur oil depot fire: Govt Exports in 2007-08 were at Rs 1,80,155 crore, Minister of State for Communications and Information Technology Sachin Pilot said in a written reply to the Lok Sabha. He said three STP centres have been set up, taking the total number of units to 51, as part of the Eleventh Five-Year Plan. In response to another question, Pilot said, "As per information provided by the Manufacturers" Association for information Technology (MAIT), the consumption of computers recorded a negative growth of seven per cent in 2008-09 over 2007-08." Sales fell from 7.3 million units to 6.8 million units, he added. He said sales were improving quarter-on-quarter as per data available with MAIT and are expected to grow by 7-10 per cent in 2009-10. "The drop in sales has been a reflection of the global economic downturn which had also impacted the domestic economy and hence the local consumption of IT hardware," he said.


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