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Steel Minister Virbhadra Singh said the government is not opposed to the Korean steel major holding a majority stake in the Rs 12,000-crore joint venture.

 
 
The Indian currency traded at 45.73 against the US dollar in the foreign exchange market, in tune with equities which were trading higher at on sustained capital inflows.
Steady capital infusion by foreign funds, coupled with rise in key rates by the Reserve Bank if India, helped the Indian currency gain against the US dollar.
The decision to provide higher DA to employees will cost the exchequer an additional Rs 9,303 crore per annum, an official spokesperson said.
The figure is compiled under the new series with 2004-05 as the base year. Inflation for previous week settled at 11.47 per cent under the old series.
The meeting will discuss the constitutional amendments needed to roll out the proposed Goods and Services Tax from April next year.
 
 
Production in India, the world's second-largest producer and the biggest consumer, is estimated at 18.8 mt in the current season, ending Spetember 30.
Textiles and apparel firm S Kumars on Thursday said it has raised Rs 235 crore by issuing fresh shares to Qualified Institutional Buyers.
The finance minister, sticking to his conservative estimates from the Budget, said he expects the economy to grow at 9 per cent in 2011-12.
The currency rose to 46.25 against the US dollar on mild selling of the US currency by banks and corporates in view of continued capital flows.
Cairn India Chairman Bill Gammell told company shareholders that the field could produce 20 per cent more from the current 1,25,00 barrels per day.
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