The Mint Report for 28 September 2010

The Mint Report for 28 September 2010

On Tuesday the Supreme Court passed a simple order that threw out the petition asking for the Ayodhya judgment to be delayed. The special bench of the Allahabad high court will now announce its judgment on the 30th. Tuesday’s order has been welcomed by all the major parties to the Ayodhya dispute. These include organizations like the Muslim Personal Law Board and the Akhil Bharat Hindu Mahasabha.

The Asian Development Bank expects growth across the continent to remain high next year. It’s projecting India will grow at 8.7% for 2011. That’s slightly higher than its projection for this year, which is 8.5%. China’s story reverses that trend. ADB thinks it will grow at 9.1% in 2011, compared to 9.6% in 2010.

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And the government could rope in a major new investor for its proposed debt fund. The World Bank says it’s looking at investing in the $11 billion fund that the government plans to set up next year. India wants to use the fund to finance local infrastructure projects. The World Bank is expected lend between $15-20 billion to India’s infrastructure sector over the next five years.

Reliance Communications has resumed its efforts to sell off a stake in Infratel. On Tuesday, chairman Anil Ambani said his company was talking to investors about a potential deal. RCom plans to sell a 26% stake in its Infratel telecom towers business. It had earlier tried to make a deal with GTL Infrastructure, but the two companies failed to come to an agreement.