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Just in:   • Pranab to take austerity measures for economic growth  • Sensex tanks 298 pts, metal, auto stocks fall  • Rupee hits record low of 54.42 against dollar  • Pilots grievances will be heard: Ajit Singh  • Second Ghana SME Expo launched   Last updated: 16 May, 2012    India Economy Sensex tanks 298 pts, metal, auto stocks fall SME Times News Bureau | 16 May, 2012 A benchmark index of Indian equities fell 298 points Wednesday as concern over eurozone and a depreciating rupee weighed on sentiments. Metals, auto and consumer durable stocks came under intense selling on heavy funds outflow.  More Headlines » India mulling free trade pacts with African countries » 2G Scam: Raja gets bail after 15 months in jail » Sensex closes 112 points higher » Govt says no wrongdoing in clearing Aircel-Maxis deal » Rs.14,000 crore annual plan for Punjab approved   Read more....       Headlines Ethiopia seeks more Indian investments in pharma, agro, textiles SME Times News Bureau | 16 May, 2012 Ethiopia has liberalised norms and is keen to attract more Indian investments in the sectors like pharmaceuticals, agriculture, textiles and food processing, Ethiopian ambassador to India Gennet Zewide said Tuesday.     Read more.... Antrix-Devas deal: CAG slams Department of Space SME Times News Bureau | 16 May, 2012 The government auditor has slammed the Department of Space for sealing the Antrix-Devas deal saying it was "a classic case of public investment for private profit".    Read more.... Railways should rationalise tariffs: CAG SME Times News Bureau | 16 May, 2012 Noting that the Indian Railways are in the red financially and have not been able to meet the cost of operating passenger and other services, the Comptroller and Auditor General Tuesday said the national transporter should rationalise both passenger and freight tariffs and explore alternate sources of financing.    Read more.... Rajya Sabha disrupted over problems of weavers SME Times News Bureau | 16 May, 2012 The Rajya Sabha had to be adjourned twice Wednesday as agitated opposition MPs took up the problems faced by weavers in various parts of the country.    Read more....         Customs Exchange Rates Currency Import Export US Dollar 53.10 52.25 UK Pound 86.00 84.15 Euro 70.35 68.70 Japanese Yen 65.50 63.85 As on 16 May, 2012   Daily Poll Do you think RBI's deregulation of export credit interest rate in foreign currency will affect exporters?  Yes  No  Can't say

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