Approach paper on airport privatisation under way

Close on the heels of a domestic aviation policy, the Ministry of Civil Aviation is preparing the first-ever approach paper on privatisation of airports. It is likely to be put up for Cabinet approval soon after being finalised by the Airports Authority of India (AAI). The approach paper, among other things, will sketch a legal framework for private investment and also list incentives to accelerate the exercise. The proposed airport privatisation policy — in lay terms — is being followed with interest especially in view of the decision which has to be taken next week on the subject of the first private international airport to come up in Bangalore.

Windfall for importers as rupee gains on yen

The rupee’s sharp appreciation against the yen in recent months has yielded windfall gains for Indian corporates dependent on import of components and machinery from Japan. The Indian currency in the last six months or so has appreciated by close to 12 per cent against the Japanese currency. While on July 26, 1996, the exchange rate stood at Rs. 32.82 for 100 yen, the same stood at Rs. 28.99 as on February 12, 1997. Earlier, on February 7, 1996, the exchange rate had dipped to a four-year low of Rs. 28.80 to 100 yen.

International co.s keen to set up nuclear reactors

India has received several proposals from international companies for setting up nuclear reactors through joint ventures. These companies have even offered to fully finance the projects, the Minister of State for Science and Technology, Prof. Y.K. Alagh, said here on Thursday. “While being enthusiastic about the proposals, India would not accept extra legal restriction nor relax its safety laws related to atomic plants,” Prof. Alagh told Business Line.