1995
Oct 1
Aditya Birla dies of cancer
Oct 26
Rupee plunges to all-time low of Rs 35.85 for a dollar
Nov 10
SBI hikes PLR to 16.5 per cent
Nov 16
Pension scheme ordinance for 18 million PF subscribers takes effect with aninitial corpus of Rs 8,500 crore
Dec 7
Insat-2C launched. Parliament in uproar, allegations of favouritism againstUnion minister Sukh Ram over award of private telecom licences
1996
Jan 8
Maharashtra govt clears Enron Dabhol power project at a tariff of Rs 1.86per unit
Jan 30
Mob ransacks KFC outlet in Bangalore
Feb 1
Gold price hits all-time record of Rs 5,600
Feb 28
Manmohan Singh presents interim budget for 1996-97, with Rs 5,000 croredeficit
May 23
Monetised deficit for 1995-96 touches new high at Rs 19,855 cr
Jun 1
UF government headed by Deve Gowda sworn in. CMP announced.
Jul 1
RBI cuts CRR to 12%; 25-30% hike in petro product prices
Jul 18
Finance Ministry gives final clearance to the Enron project in terms ofcounter-guarantees
Jul 22
Chidambaram budget slaps MAT
Jul 26
SC asks Harshad Mehta to pay Rs 217 crore to I-T department
Oct 30
$100 million scam in ITC unearthed, biggest ever FERA violation case
Dec 10
SC bans child labour in hazardous industries
1997
Jan 23
GDP growth at 7.1% during ’95-96
Jan 30
SCICI merged with ICICI
Feb 8
In major liberalisation, import of 69 consumer goods shifts from restrictedto SIL, 92 items freed
Feb 13
UTI floats 3 asset management firms to manage its 69 schemes, including Rs15,000 cr US-64
Feb 20
Disinvestment Commission selects Modern Food, GAIL and ITDC fordisinvestment in first report
Feb 28
Chidambaram "dream" budget. Tax rates cut, VDIS announced.
Mar 25
India joins WTO Information Technology Agreement for phased cuts in importtariffs on IT products
Apr 1
India is world’s fifth largest economy (PPP) at $318 trillion
May 14
Bajaj Auto announces 100% dividend
Jun 25
RBI cuts bank rate to 10 per cent
Sep 27
Inflation, 3.78 per cent, at 11-year low
Aug 4
Sensex crosses 4400 points
Oct 30
Ordinance amends Prasar Bharati Act,1990, to make functioning of DD and AIRtruly autonomous
1998
Jan 4
VDIS nets Rs 10,500 cr; Rs 33,000 cr black money disclosed
Feb 4
Growth at 7.5 per cent in 1996-97
Feb 15
HLL-Pond’s India merger
Mar 19
Vajpayee govt sworn in
Apr 2
Bank rate cut to 10 per cent
May 11
India explodes three nuclear devices at Pokhran. Trishul, the short-rangetriple role missile, test-fired.
Jun 1
Yashwant Sinha budget raises I-T exemption limit to Rs 50,000, scraps gifttax, opens up insurance
Jun 7
India is World Bank’s single largest borrower with cumulative loans of $44bn
Aug 24
Resurgent India bonds get over $4 bn
Sep 1
Tatas withdraw Rs 1,475-crore airline proposal, after three years of waitingfor approval
Oct 8
Onion prices around Rs 50 per kg in Delhi.Export banned;13,000 tonnesimported.
Oct 14
Amartya Sen wins the Nobel for contributions to welfare economics. DoTissues Internet licences to 19 pvt companies.
1999
Jan 1
Government cuts small savings rates to 9 per cent
Feb 24
Survey says industrial growth is a poor 3.5% in ’98
Feb 27
Sinha budget: new taxes of Rs 9,334 cr
Mar 1
RBI cuts bank rate to 8 per cent, PLR to 12 per cent
Mar 26
New telecom policy permits DoT/MTNL to operate cellular services
Mar 31
Exim Policy launches PIO card
Jun 21
Wipro Chairman Azim Premji is richest Indian at $2.8 bn
Jul 1
Lowest ever IA fare for Delhi-Mumbai: Rs 3,800 (earlier Rs 5,110)
Jun 30
GDP growth in ’98-99 at 6 per cent
Jul 2
UTI to pay 13.5 per cent dividend on US-64, lowest in 16 years
Jul 5
Ranbaxy’s Parvinder Singh dies
Jul 16
Market value of Bill Gates hits $507 bn, first time a firm (MS) passes halftrillion level. India’s GDP is less.
Sep 6
NSE introduces 3-day settlement cycle
Oct 8
Sensex hits 5000 for first time
Oct 19
Satyam Infoway becomes second Indian firm to trade on Nasdaq
Nov 19
SBI launches gold deposit scheme
Dec 17
US lifts economic sanctions against India
2000
Jan 19
Firms allowed to access ADRs/GDRs market freely
Feb 8
Narayana Murthy gets first national award for Excellence in CorporateGovernance
Feb 15
Rs 8,454 revival package for SAIL
Feb 28
Sinha’s Y2K budget
Apr 1
Savings rate cut to 4 per cent
May 11
Population crosses one billion
June 12
Automatic 10 per cent FDI in power, refining and e-commerce
Sept 13
Bill Gates arrives, promises $50 million investment
Oct 18
Entertainment sector, including films, notified as industry
Oct 23
Six licences issued to insurance joint ventures with 26 per cent foreignequity
Nov 2
Cabinet okays direct-to-home (DTH) service with 49 per cent foreign stakeceiling
Nov 16
Government holding in nationalised banks to go down to 33 per cent
2001
Feb 21
51 per cent Balco equity to be sold to Sterlite for Rs 551.5 crore
Feb 28
Sinha budget to tax foreign TV channels, cut 10 per cent govt jobs
Mar 1
Bank rate cut to 7 per cent
Apr 29
India becomes fourth largest economy (PPP) after the US, China and Japan
Jun 28
Birla-Tata-AT&T and BPL Communications announce joint venture, largestmerger in mobile sector
Jul 2
UTI suspends sale, purchase of US-64 for six months; Rs 500 crore bailoutpackage
Aug 10
Stock broker Ketan Parekh arrested
Aug 17
Bill hiking salaries of MPs by nearly three times, raises other perks andallowances
Aug 27
Communication Convergence Bill 2001 approved
Oct 5
Tata Sons to buy 51 per cent in CMC
Oct 16
Share buyback up to 10 per cent allowed
Dec 31
Harshad Mehta dead
2002
Jan 17
Infosys Technologies to open an office in Shanghai
Jan 19
ICICI merges with ICICI Bank
Jan 27
Inflation plunges to two-decade low of 1.57 per cent
Feb 5
Tatas get VSNL for Rs 1,439 cr, IOC gets IBP for Rs 1153. 68 cr. VRS forpermanent central govt
staff approved.
Feb 15
Online trading in gilts begins
Feb 28
Budget slaps Rs 12,700 cr extra taxes, Sensex plunges 143 points
Mar 26
Govt allows commercial cultivation of Bt Cotton—the first GM crop.
Mar 30
Small savings rate reduced to 9 per cent
Apr 1
Petrol and diesel prices to become market-determined
May 3
ICICI Bank becomes largest private bank with balance-sheet of Rs 1,04,000 cr
May 30
Maruti privatised, Suzuki buys majority stake for Rs 1,000 cr; VSNL told torevoke investment decision in Tata Teleservices; FEMA replaces FERA
Jun 7
RBI raises promoters’ stake in private banks to 49 per cent
Jun 25
26 per cent FDI in news and current affairs publications
Jun 30
Current account in surplus for the first time in 23 years
Jul 6
Reliance patriarch Dhirubhai Ambani dies
Jul 19
VSNL cuts international long-distance tariffs up to 40 per cent
Jul 24
Worst drought in 10-12 years
Oct 16
Punjab government stops supply of free power to farmers
Nov 1
Resident Indians allowed to open, hold and maintain a foreign currencyaccount in India
Dec 3
First mid-year review of economy presented
2003
Jan 15
UTI to split into two from February 1
Feb 4
Government approves a diluted Fiscal Responsibility and Budget ManagementBill, aimed at better financial management
Feb 24
Govt prepays $1.3 billion ADB loan
Feb 28
Jaswant Singh budget raises standard deduction; IT relief on education ofchildren, 5 per cent surcharge off for income less than Rs 6.8 lakh
Apr 15
Air India, Indian Airlines put off disinvestment
Apr 29
RBI cuts bank rate to 6 per cent, lowest since 1971
May 5
Electricity Bill approved
June 10
K.J. Udeshi, first ever woman RBI deputy governor
Aug 5
CSE finds high pesticide residues in Pepsico and Coca-Cola products
Oct 31
Unified telecom licence approved. Fixed-line operators free to chargetariff.
Dec 20
Forex reserves cross $100 bn
2004
Jan 2
Sensex crosses 6000 for first time since inception in 1986
Jan 15
All FDI caps in petroleum sector activities goes; in private banks FDI capshiked to
74 per cent
Jan 16
Wipro, with Rs 24,471 cr, is biggest wealth creator between 1998 and 2003
Jan 21
Fitch Ratings upgrades India’s long term foreign currency rating to BB+from BB, Moody’s follows (Baa3)
Mar 5
India’s biggest public offer opens as ONGC begins selling 14 crore shares(Rs 10,000 cr).Offer snapped up in minutes.
Mar 25
PC sales for year projected to exceed 30 lakh units, PC penetration up to 11per 10,000 population
Mar 29
Tata Motors takes over Daewoo’s commercial vehicle division
Apr 13
Infosys Technologies is a billion-dollar company; Wipro follows
Apr 29
Reliance Industries becomes first Indian private company to cross $1 bn netprofit
May 10
Auto exports cross $1 bn in value
May 19
Sonia Gandhi to be chairperson of CPP, Manmohan is PM.
May 24
Disinvestment ministry scrapped; new ministry for NRIs
Jun 21
NSDL is appointed by IT department as a service provider for PAN
Jun 29
Government withdraws IIM fee cut order
Jun 30
GDP surges 8.2 per cent in ’03-04
Jul 8
UPA budget scraps capital gains tax: 2 per cent education cess; 10% service tax;
share transaction tax.
Jul 15
India No. 127 in human development among 177 countries
July 20
R.S. Lodha chairs Birla Corporation meeting, first public appearance sincePriyamvada ‘will’ was made public.
July 26
GTB to be merged with Oriental Bank of Commerce
July 28
Rs 5,000-cr Tata Consultancy IPO is largest offer by a private company
Aug 1
Azim Premji, Mukesh Ambani, Nandan Nilekani among Fortune’s 25 most powerfulpeople.
Aug 25
Deccan Airlines flies Bangalore-Delhi for Rs 500 per passenger
Sep 9
Mahindra Industrial Park, Chennai, is India’s first Special Economic Zone
Sep 30
Planning Commission dismantles 19 consultative groups, after controversy overforeign experts
Oct 17
IIM, Ahmedabad is ranked 64 among world’s top 100 management schools by TheEconomist
Oct 20
FDI cap in aviation hiked to 49 per cent
Nov 18
Mukesh Ambani admits there are "ownership issues" in Reliance
Dec 11
Industry records 10% growth—an 8-year high
2005
Jan 25
Excise rules set to get Rs 800-cr dues
Feb 2
FDI in telecom raised to 74.7%
Feb 28
FM raises IT limits, cuts depreciation, taxes fringe benefit
Mar 12
Steelmaker L.N. Mittal is third richest in world with $25 bn
Mar 20
Mallya buys Shaw Wallace
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