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The week in review

The week in review
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First Published: Fri, Mar 27 2009. 07 27 PM IST
Updated: Fri, Mar 27 2009. 07 27 PM IST
New Delhi: Tata Motor’s Rs 1 lakh car is finally here. Motor enthusiasts are pleasantly surprised that Ratan Tata actually managed to deliver what he promised: an efficient, practical, compact car. The car, which is considered a game changer, might energize the consumer base. But the big question being asked is, can the small car bring the much-needed profits for the company?
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The second season of the Indian Premier League has moved out ….the blockbuster will now be played in South Africa. The Board of Cricket Control for India or BCCI took the decision after many futile meetings with the Union Home ministry and its counterparts in the states. IPL discovered that despite many changes the dates were still clashing with the election schedule. Home minister P Chidambaram blamed the states and IPL managers in-turn obliquely blamed the home minister.
Pantaloon Retail (India) Ltd, which runs the Big Bazaar chain of hypermarkets, has approached India’s trademark office asking it to cancel registrations given to the Reliance Anil Ambani Group for the ‘Reliance Big Bazar’ trademark for some of its businesses.
With the elections closing in fast, it was a week of realignments across the country.
In the north, Congress allies Lalu Prasad, Ramvilas Paswan and Mulayam Singh joined hands for the fight in Bihar and UP, days after the Congress declared it would go alone in the two states. In the south, another Congress ally PMK turned away to go with archrival AIADMK in Tamil Nadu. Everyone now seems to be waiting to see how the post poll scenario shapes up and for yet another round of realignments.
For those present at the unveiling of the Congress’s election manifesto, it was a first to see the PM in a no holds barred speech against the opposition. The Congress election manifesto meanwhile renewed its commitment to the aam aadmi with a range of populist promises, and promise of strengthening internal security. Every family below the poverty line would be guaranteed 25 kg of rice or wheat per month priced as low as Rs 3 a kg.
Inflation fell to its lowest level in 33 years on Thursday, close to zero at 0.27 percent for the week ended March 14. Both the Prime Minister and the RBI governor said there was no fear of a deflationary trend.
Sensex, the benchmark 30-share index rose 45.39 points to 10,048.49, on its fifth straight day of gains. The market has now climbed 20 percent in three weeks. Earlier the Sensex crossed the 10,000 mark on Thursday, the highest since the first week of January.
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First Published: Fri, Mar 27 2009. 07 27 PM IST