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The Mint Report for 27 June 2011

The Mint Report for 27 June 2011
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First Published: Mon, Jun 27 2011. 10 34 PM IST
Updated: Mon, Jun 27 2011. 10 34 PM IST
A new rule led to the rejection of many institutions that want to do technical education. Some say the rule promotes quality, but others say its causing problems. The rule in question is a self-disclosure policy that requires information about land records, videos about physical infrastructure, and building plans. The rule has meant that less than 500 further applications will be approved out of 1,062. Meanwhile, 174 other applications have already been approved.
There’s no relief in sight for Tata Motors in West Bengal. On Monday the Calcutta High Court turned down the company’s plea to stay the planned return of land. The court reasoned that since the state government had not made a specific statement about returning Tata Motors’ land to farmers, it could not stay pass an order. It added that passing an interim order would not help the company’s original petition.
In more positive news from the auto industry, Toyota is making a fresh play for India’s passenger car market. On Monday it launched the Liva hatchback vehicle. The Liva is part of the Etios series of cars and comes with a starting price of just Rs4 lakh. Toyota India is hoping to sell 100,000 of the new vehicles in 2012.
Indian shares have started the week with a bang. Both the Sensex and Nifty rallied for a third day in a row on Monday, this time, because of the hike in fuel prices. The Sensex jumped 172 points to 18,412. And the Nifty climbed 55, to 5,527.
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First Published: Mon, Jun 27 2011. 10 34 PM IST