FM pitches for hike in FDI

IN PARLIAMENT TODAY

"Investments is the way to go," Finance Minister P Chidambaram told the Lok Sabha today, replying to a debate on the supplementary demand for grants.

"I had breakfast with Bill Gates the other day and he promised $1.7 billion in investment, and not just because of the breakfast," he said with a laugh.

The finance minister told the House that global corporate giants Nokia, Motorola, Toyota and the Japan consortium had also promised investments of $5 billion. He urged Opposition leaders to be pragmatic when it came to foreign investment.

New Delhi railway station upgrade plan

The Railways plans to make New Delhi railway station world-class through the proposed rail land development authority (RLDA), Minister of State for Railways R Velu told the Rajya Sabha today.

In a written reply, he said as announced in its budget for 2005-06, the Railways plans to develop important stations in metros into world-class facilities through the proposed RLDA.

Disaster management support system

The department of space and ministry of home affairs are implementing a space-based disaster management support system which among other things would comprise creation of digital database for disaster-prone areas and monitoring of major natural disasters using satellite and aerial data, Minister of State in the Prime Minister's Office Prithviraj Chavan informed the Rajya Sabha today.

Oil PSUs borrowed Rs 9,300 cr

Public sector oil firms borrowed over Rs 9,300 crore in short-term loans during the first half of the current fiscal to meet the cash crunch they faced due to a freeze on raising fuel prices despite increasing costs.

"There is an increase in the short-term credit demand of some oil companies, owing to a temporary cash mismatch brought about by high international oil prices and lower internal accrual because of under-recoveries on the sale of certain petroleum products," Petroleum Minister Mani Shankar Aiyar said in a written reply to a question in the Lok Sabha.

Wage board for journalist

The government today said it was "premature" at this stage to constitute another wage board for newspaper workers as recommendations of the last one were yet to be fully implemented. "The recommendations of the Manisana wage board, which were accepted by the Centre in December, 2000, are yet to be fully implemented."

J&K integral part of India

There have been no discussions with Pakistan on changing, in any form whatsoever, the status of Jammu and Kashmir, Minister of State for External Affairs e ahamed told the Rajya Sabha today.

Ahamed said there is no question of India accepting any change in the status of Jammu and Kashmir, which is and will remain an integral part of India.