`Clouds' over economic growth prospects -- Survey sees identifiable gaps in reform process, moots drastic solutions
THE pre-Budget Economic Survey concedes ``identifiable gaps'' in the reform process that continue to cloud the long-term growth prospects of the economy and calls for ``crucial action'' in a number of key areas to obtain the full benefits of the reforms carried out so far.

Glaxo, SmithKline fix swap ratio at 1:2
The boards of Glaxo India Ltd and SmithKline Beecham Pharmaceuticals India Ltd on Friday approved a swap ratio of one Glaxo share for every two SmithKline Beecham Pharmaceutical shares held.

Sensex takes a beating, sheds 140 pts
BEARS painted with red the gloomy picture of the Indian economy and stock prices across the board fell like nine pins on the Dalal Street today as the Government put out the Economic Survey for 2000-01.

`Unjustifiable' tax sops may go
WHILE income and corporate tax rates are unlikely to be tinkered, the Finance Minister, Mr Yashwant Sinha, is set to withdraw a plethora of direct tax exemptions and deductions. He may extend the one-by-six criteria of filing tax returns to more cities t o widen the tax base and shore up revenues for the ensuing fiscal.

S&P may hike stake in Crisil
THE international rating agency, Standard & Poor's, is likely to hike its stake in the equity capital of its Indian associate, Credit Rating and Information Services of India Ltd (Crisil). S&P is likely to more than double its stake to around 26 per cent in Crisil from the current 9.68 per cent, reliable sources said.

Cricket: Tatas, HLL likely to open new innings
THE Tatas and Hindustan Lever are among the companies willing to step in and sponsor the Indian cricket team once ITC withdraws its sponsorship of the team.

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