National Economic Events in June 2000

Trading in index-based derivatives begins.

Private sector allowed to export sugar up to 10 lakh tonnes in aggregate and granted exemption from the levy obligation on the exported quantity.

FDI policy liberalised; dividend balancing requirements abolished for 22 industries, FDI allowed in petroleum refining and B2B e-commerce up to 100 per cent.

RBI announces transparent and non-discriminatory guidelines for banks for one time settlement of dues.

Interest rate on Employees Provident Fund reduced by one percentage point.

Union Government makes it mandatory for manufacturers of packed food items to specify the `best before' label as distinct from expiry date with effect from September 1.

Good manufacturing practices rules for Ayurveda, Unani and Siddha systems of medicine notified by Government of India.