Fallen: By 23.4 per cent, India’s gold imports, to 592 tonnes in 2007-08, following the sharp rise in gold prices, reports the Bombay Bullion Association. It says that imports in March 2007 halved to 27 tonnes compared to the figure for March 2007. India, the world’s largest gold consumer, usually imports 700-800 tonnes of gold annually.
Ranked: At #50 among 127 countries, India on network readiness in 2007-08, by the World Economic Forum (WEF). WEF conducts an annual survey of countries and publishes a Network Readiness Index. The country has fallen six places from its 44th position out of 122 countries last year.
Announced: By the government, a one-year extension of the income tax holiday for export-oriented units (EOUs) under Section 10B of the Income Tax Act. It will move an amendment in the Parliament on this. Reliance Industries is expected to be one of the biggest beneficiaries of this move as it converted its refinery at Jamnagar into an EOU in 2007-08.Identified: