Oil & Natural Gas Corporation, the

Government authorities confirmed the outbreak of the H5N1 strain of bird flu at a local chicken farm on Thursday. Jolly Choi, spokeswoman for Hong Kong's agriculture, fisheries, and conservation department said that earlier tests on Dec 9 were positive for an H5 virus, but further testing showed that three chickens found dead on the farm had the H5N1 subtype.

Choi said that no new measures were required other than those that have been implemented.

The Securities and Exchange Board of India (SEBI) is thinking of further tightening the norms related to Fixed Maturity Plans (FMPs). The Mutual Fund Advisory committee of SEBI discussed the matter on Friday, to amend norms of asset-liability. The board discussed the compulsory alignment of portfolio with scheme tenure, accountability of trustees and segregation of funds for corporate and retail investors. The regulator has the opinion that amendment in norms is necessary in the wake of the ongoing recessionary waves. However, investors can lose interest in case of further tightening of norms. Investors believe that tax advantage can make FMPs more profitable.

Union Home Minister, P Chidambaram said that there is no need to worry about the fiscal deficit. The government is more concerned about the stability of the economy and had taken various measures to mitigate the impact of the slowdown on Indian economy.

He said, while addressing members of parliament, "If fiscal deficit crosses 3 per cent of GDP, it is not a cause for concern. We had brought down the fiscal deficit to 2.5 per cent from 4.5 per cent."

Mr. Chidambaram performed two roles in the parliament and gave answers on security as well as finance issues. PM Dr. Manmohan Singh, who is also holding the finance portfolio, has already sought permission of the Lok Saba Speaker to get Chidambaram's help for finance matters.

The country witnessed negative industrial growth after a gap of 15 years. The situation indicates the impact of global slowdown on the Indian economy. Almost all industrial sectors are facing the heat despite various measures taken by the government to mitigate the impact of the global crisis. The reserve bank can take more monetary steps by cutting key interest rates to stop further worsening of the situation.

State's Environment and Forest Minister, Th Debendra inaugurated a 3 day long International conclave on medicinal plants today at the RIMS Jubilee Hall.  The conclave is being organised by the Department of Forest, Government of Manipur in collaboration with the Ministry of Health, Government of India and AYUSH with the support of World Health Organisation (WHO) India chapter and Ministry of DoNE.