The Mint Report for 8 March 2010

The Mint Report for 8 March 2010
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First Published: Mon, Mar 08 2010. 11 37 PM IST
Updated: Mon, Mar 08 2010. 11 37 PM IST
New Delhi: The UPA government was hoping to introduce the Women’s Reservation Bill in Parliament on Monday, but things didn’t go as planned. Instead, there was chaos in the Rajya Sabha, with MP’s shouting protests and even tearing up a copy of the bill. Leading the charge were the RJD and the Samajwadi Party, which say the bill must provide sub-reservations for Muslim women and for women from other backward classes. The two parties also withdrew their support to the government. Prime Minister Manmohan Singh has called for an all-party meet on Tuesday to discuss the bill.
The government has asked parliament to approve a reduction in its stake in State Bank of India from 55% to 51%. It expects to raise $1.2 billion through the move. Currently, the government owns a 59.41% stake in SBI and already has parliamentary approval to cut that number down to 55%.
Bangalore’s airport could get could get an expensive makeover. Infrastructure company GVK says it plans to invest Rs4,000-4,500 crore modernizing and expanding the airport.
GVK is also planning to acquire a majority stake in Bangalore airport’s holding company BIAL. It’s says it will buy the 40% stake in BIAL that Siemens Project Ventures owns. But GVK will have to wait because Siemens Project Ventures is obliged to hold on to its stake for a specified time. At present, GVK already holds a 29% stake in BIAL.
Auto industry body SIAM says car sales have accelerated by about one third in February. Sales went up for the 13th straight month to 153,845 units in February from just 115,505 in February last year. In January, the sales figure was 145,905 vehicles. The increased sales were driven by customers who wanted to buy their cars before prices go up next month. Vehicles prices are expected to rise in April when an increase in duty on cars and new emissions norms come into effect.
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First Published: Mon, Mar 08 2010. 11 37 PM IST