UID for 600 mn people in four years, says Nilekani

The Centre has set a target of enrolling 600 million persons in the next four years for the unique identification (UID) numbers, Nandan Nilekani Chairman of the Unique Identification Authority of India (UIDAI) said on Friday.

"It is a very challenging task to cover 1.2 billion people. In the next four years, our target is to enroll 600 million people," he said on the sidelines of a function at the Doon School in Dehradun.

He said so far only 3 million people have been covered in the country since the project was launched by the Centre.

For providing the logistics, the Centre is setting up a management service provider for preparing a data bank of the entire project, he said.

He also said the work for the UID project has already started in Himalayan states like Himachal Pradesh [ Images ]. However, he said there is no deadline to complete the project since it will be covering a whopping population of more than 1.2 billion. "It will be a big challenge for us to cover the entire population of India," he said.

The total expenditure on the project was Rs 100 per head.

'Ashwamedh' buses on Pune-Dadar route

PUNE: The Maharashtra State Road Transport Corporation (MSRTC) recently introduced two 'Ashwamedh' buses on the Pune-Dadar route. The jumbo multi-axle Volvo buses will provide business class travel to passengers with more comfortable seats and legroom, say state transport officials. The buses have electronically controlled air-suspension, an electronic braking system and an integral hydraulic power-assisted steering system.

The buses, which were flagged off recently by minister of state for transport Gulabrao Deokar and MSRTC chairman Sudhakar Paricharak, have a seating capacity of 53, which is eight more than the Shivneri buses. The fare for travelling by the Ashwamedh buses will be Rs 270, the same as the fare for Shivneri buses, the officials said.

According to MSRTC officials, the buses, which cost Rs 1 crore each, will be introduced on the Mumbai-Pune-Bangalore route in the near future. MSRTC has also recently added various types of buses like the 31-seater midi buses, Parivartan buses, and air-conditioned Sheetal semi-luxury buses. tnn


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February inflation at 8.31% y-o-y: Govt

NEW DELHI: India's wholesale price index (WPI) rose an annual 8.31 per cent in February on higher fuel and manufactured product prices, government data showed on Monday.

The figure was well above the median forecast for a 7.79-per cent rise in a Reuters poll and was higher than the annual rise of 8.23 per cent in January.

The annual reading for December was upwardly revised to 9.41 per cent from 8.43 per cent.

The WPI is more closely watched than the consumer price index (CPI) in India as it covers a higher number of products.

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Sensex snaps 2-day fall, gains 265 points

MUMBAI: The BSE Sensex snapped two days of losing trend on Monday and gained 265 points as easing crude oil prices globally and a marginal rise in inflation reduced concerns about a possible sharp hike in interest rates, with funds buying blue-chips like RIL and Infosys.

The Bombay Stock Exchange benchmark index Sensex shot up 265.39 points or 1.46 per cent to finish at 18,439.48. It had lost 295 points in the last two sessions.

Similarly, the NSE 50-share Nifty moved up 86.05 points or 1.58 per cent to end at 5,531.50.

Oil prices fell below USD 100 a barrel in the US on reports that the earthquake in Japan would slow down demand for the time being and stem inflationary pressures globally.

Oil & gas, metal, it, banking and power sectors were the major gainers.

Sensex heavyweight Reliance Industries Ltd (RIL) was the major contributer to the gain by rising 2.63 per cent, Rs 26.05 at Rs 1,017.65, on reports that its gas production is expected to rise 23 per cent to 65 million metric standard cubic meters (mmscmd) daily from April at its blocks in the Krishna Godavari basin.

Infosys, the largest software exporter, also rose Rs 44.80 to Rs 3,099.25. The two stocks carry nearly 23 per cent weightage on the 30-stock barometer Sensex.

Besides, shares of Anil Dhirubhai Ambani (ADA) group companies were in demand on reports that Nippon Life Insurance will acquire 26 per cent stake in Reliance Life Insurance for USD 680 million. Reliance Comm was up 4.36 per cent, Reliance Mediaworks (2.85 pc), Reliance Broadcast Network (1.85 pc), and Reliance Power (3.58 pc).

"Markets gained over 1 per cent amid easing crude oil prices. Among the leaders was the heavy weight Reliance on the back of multiple positive developments, while other oil PSUs also rejoiced the softening crude oil price," said Motilal Oswal securities manager & analyst (derivatives) Bhavin Desai.

IIFL's head of research ( India Private Clients) Amar Ambani said, "Market players seemed to ignore a marginal rise in inflation for February. It rose to 8.31 per cent in February as against 8.23 per cent in the previous month."

He said, however, that some investors expected it to fall to 7.8 per cent and RBI may hike key policy rates by 25 basis points at its monetary review on March 17.

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Sensex opens 76 points higher

MUMBAI: The Bombay Stock Exchange benchmark Sensex open 76 points higher in opening trade today on emergence of buying in fundamentally strong shares at lower levels.

The 30-share barometer, which lost 295 points in the past two sessions, rose by 76.06 points, or 0.41 per cent, to 18,250.15 in the first few minutes of trade.

In a similar fashion, the wide-based National Stock Exchange Nifty index rose by 22.85 points, or 0.41 per cent, to 5,468.30.

Brokers said investors indulged in buying select stocks available at cheaper rates after the market closed lower last week.

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Rupee gains 5 paise against US dollar in early trade

MUMBAI: The Indian rupee strengthened by 5 paise to Rs 45.19 per dollar at the Interbank Foreign Exchange today, supported by a higher opening in the stock market and dollar weakness against other currency rivals.

The rupee had depreciated by 6 paise to close at Rs 45.24/25 per dollar in the previous session due to sustained dollar demand from importers and sluggish equities.

Forex dealers said a higher opening in the stock market and dollar weakness against other currencies helped the rupee to strengthen.

Meanwhile, the Bombay Stock Exchange Sensex was up by 76.06 points, or 0.41 per cent, at 18,250.15 in opening trade today.

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