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IIFCL to raise Rs 5,000 cr from taxable bonds in FY10
State-owned infrastructure finance company India Infrastructure Finance Company (IIFCL) today said it is planning to raise up to Rs 5,000 crore to fund various projects.

Governance and the fisc
How best can the Union government use the window of political opportunity that has been opened up by the verdict of the recent assembly elections? Since the ruling Congress party has been strengthened by the poll result and there are no important elections due for the next year, the opportunity to push for better governance should not be missed. To begin with, the prime minister should consider a minor reshuffle of portfolios that empower performers and sideline non-performers, and also improve bureaucratic standards. The argument that in some ministries the ruling party needed fund collectors rather than good administrators has appeal before an election, but is less convincing when the priority should be to get things going. The ruling party should take a holiday on rent-seeking for a year and push for reforms and improved public sector productivity in the infrastructure sector, especially power. The recent raids by the Central Bureau of Investigation in the Department of Telecommunications are hopefully not part of some political bargaining between coalition partners but the beginning of a phase of crackdown on “corruption in high places” that the prime minister sought. Given the DMK government’s dependence in Tamil Nadu on the Congress for its survival in office, the latter can afford to crack the whip in Delhi and not appear as subservient as it does when dealing with this junior ally. Exemplary action here would send an important message to other junior partners and to ministers within the ruling party who have not exactly been symbols of good governance.

News of the day

UP mills to pay 5% MORE for cane
This is the third price hike in less than a month; mills will pay Rs 200-205 a quintal.
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Telangana issue: We have full confidence in UPA, says TRS

TRS today said it is confident that the UPA leadership will fulfill the announcement it made for the formation of a separate Telangana state despite vehement opposition from other regions of Andhra Pradesh over the issue. - Upto Centre to resolve Telangana issue: TRS chief - TRS chief discharged from hospital - What about Hyderabad? - "TRS chief calls Delhi for next step on Telangana" - Chidambaram invites KCR to Delhi for Telangana talks - Telangana to become the 29th state "We have full confidence in the UPA leadership that they will keep up the announcement they have made. We are thankful to them," TRS MLA K T Rama Rao, son of the party president K Chandrasekhar Rao, told reporters here. He said there is no need to give too much importance to the en masse resignation of legislators and widespread protest in non-Telagana regions over the Centre"s move to split the state. "We are not worried about the developments after the Centre"s announcement. The UPA leadership must have thought about the repercussions before taking the decision. We leave it to them," Rama Rao said. Asked whether the TRS would like to put a time frame to see the formation of Telangana to take place, he said the party and the people of Telangana have waited for long and would not mind waiting a bit more. The TRS would like to leave the matter to the UPA leadership about the process of formation of the separate state, he said. Replying to a query, he said Hyderabad should be a part of Telangana and there can not be a second thought about it.


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