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Infrastructure plays dampener in India's tourism growth: PATA

Kolkata, Feb 26 (UNI) Even as inbound international arrivals peaked at 4.4 million in 2006, India's tourism growth was hampered by poor airport infrastructure and inadequate hotel rooms, according to a report of Visa and the Pacific Asia Travel Association (PATA).

Recommending a seven-point plan to boost the sector, the report entitled "Total Tourism India" mentioned that the other areas needed to be reformed were the country's aviation policy, taxation regime, bureaucratic set-up, human resource development in the hospitality sector and the Visa, credit card major, regime.

According to a PATA release today, the domestic travel " has been booming over the past 15 years, as various states increasingly woke to home-grown tourism's potential to stimulate economic growth and boost employment." Domestic trips reached an all-time high of 430 million in 2006, up by 13 per cent from 2005. The average annual growth rate has been more than 10 per cent since 2000, with the boom in low cost carriers bringing travel within the price range of millions of more households across the subcontinent, the report mentioned.

The report also showed that the international outbound trips by resident Indians peaked at around 8.3 million in 2006.

Of the total, three million were to Asia Pacific destinations, making India the region's fourth largest source market behind China, Japan and Korea.

This is expected to rise to over 3.6 million in 2007 and then increase by more than 10 per cent each year to 2009, the report added.

''India needs to accelerate efforts to improve and expand its infrastructure, particularly airports and roads, broaden its product range, especially in accommodation, and increase competitiveness,'' PATA sources said.

UNI

Domestic oil sales rise 7.3 per cent

New Delhi, Feb 26 (UNI) The country's domestic oil sales led by naphtha and diesel rose 7.3 per cent in January compared to last year. Sale of domestic refined products also rose 10.46 million tonnes, official data today said. Diesel sales, rose 8.2 per cent in January from a year earlier to 3.71 million tonnes (9,00,000 barrels per day) while domestic naphtha sales surged 28 per cent. Data also showed a three fold increase in naphtha exports to 1.3 million tonnes.....

Nagarjuna Constt to raise $180mln

New Delhi, Feb 26 (UNI) Nagarjuna Construction Company Ltd today said it will raise 180 million dollars by issue of equity-linked instruments. The company has recieved its members approval for raising of the funds by issue of equity shares to Qualified Institutional Buyers, Global Depository Reciepts (GDRs), Foreign Currency Convertible Securities (FCCBs) and other permitted Securities. The members have also accorded their approval to increase the investment limit by FIIs in the shares of the company to 74 per cent from.....

India Inc lauds Lalu's Budget

New Delhi, Feb 26 (UNI) Industry and business today lauded the Railway Budget 2007-08 describing it as exciting and the one which has spared the freight and passengers from rate hikes, and will promote partnerships with the private sector. The chambers said the railways are today operating like a private enterprise registering a cash surplus of Rs 20,000 crore, despite lowering of passenger fares on all categories of trains and not announcing an across-the-board hike in fares. The public-private-partnership (PPP).....
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