Mumbai: Bike maker Yamaha Motor Co. (YMC) is restructuring its operations in India. The company has applied to the foreign investment promotion board (FIPB) to register a new firm that will focus on recreational vehicles such as golf carts. Yamaha Motor India Pvt. Ltd, the existing Indian subsidiary, will continue to focus on manufacturing motorcycles.

- Ammar Master

11th Plan will be India’s education plan: PM

Panaji: Prime Minister Manmohan Singh on Friday termed the 11th Plan as “India’s educational plan” and said over 19% of the total Central gross budgetary support would be spent on the sector during the Plan period. “We have increased the outlay on education from 7.7% of the total Central gross budgetary support in 10th Five-Year Plan to over 19% in the 11th Plan,” he said.

- PTI

Cheaper fruits, textiles help ease inflation

New Delhi: Inflation held below the Reserve Bank of India’s (RBI) year-end target for the sixth month as the government capped retail petrol and diesel prices to protect the poor. Wholesale prices rose 3.45% in the week ended 15 December from a year earlier, slower than the previous week’s 3.65% gain, the ministry of commerce and industry said on Friday.

- Bloomberg

IIFC gets nod for UK investment vehicle

Mumbai: The government has given approval to state-run India Infrastructure Finance Co. (IIFC) to set up an offshore investment vehicle in the UK, S.S. Kohli, chairman and managing director, said on Friday. IIFC will also get $250 million (Rs985 crore) in the first round of funding from the Reserve Bank of India’s currency reserves to spend on local infrastructure projects.

- Reuters