Birlas reach basic understanding

After the agreement on Century Textiles and Industries Ltd, it is now the turn of Pilani Investment and Industries Corporation Ltd, in which various branches of the Birlas have holdings. According to informed corporate sources, the basis for an agreement on disinvestment and buy-outs of holdings has already been laid by the parties involved in Pilani Investment. But, as the sources point out, it will be quite some time before the understanding is further fine-tuned and implemented.

Cong(I), third front select Sangma for Speaker’s post

Former I&B minister, Mr. P. A. Sangma, has emerged as the joint candidate of the third front and the Congress (I) for the office of Lok Sabha Speaker. Mr. Sangma’s candidature was informally approved at the third front steering committee. Sources said an announcement was expected to be made in a day or two after top front leaders, including their PM candidate, Mr. H. D. Deve Gowda, the Bihar CM, Mr. Laloo Prasad Yadav, the Andhra Pradesh CM, Mr. Chandrababu Naidu, arrived in the capital.

Centre-State fiscal ties to come into sharp focus

The picture may still be hazy as to who will finally emerge victorious in the ongoing tussle for power at the Centre, but what is clear is that issues of fiscal federalism and revamping of Centre-State economic relations would be priority areas for any government that obtains its vote of confidence by early next month. While the BJP’s manifesto has promised to “restore the balance of resources in favour of the States”, for the Third Front — which in many ways is nothing but a holding company or political summation of unfulfilled regional aspirations — these concerns perhaps represent its raison d’etre, the main basis for existence.

Related Topics
comment COMMENT NOW