• Tue, Oct 24, 2017
  • 3.2% fiscal deficit is possible: SBI Report

    Updated: Oct, 24, 201702:45 AM

    The government is likely to achieve the fiscal deficit target of 3.2 per cent of GDP for the first time in about seven years, but may cut its capital expenses by Rs 70,000 crore to meet the goal, said...
    3.2% fiscal deficit is possible: SBI Report
    “There are doomsday predictions currently that government is going to have a big revenue slippage in 2017-18 which may impact the headline fiscal deficit numbers. However, such projections flunk the test of logical reasoning and are grossly misconstrued,” the report said. According to estimates by SBI’s economic research department, while there could be a shortfall of Rs 1.1 lakh crore in the revenue receipts, disinvestments receipts worth Rs 72,500 crore and expenditure cuts are likely to offset the impact. “We estimate that the government may cut about Rs 70,000 crore from the capital expenditure,” the report said. However, it noted that budgeted disinvestment receipts are on track to realising Rs 72,500 crore. “At current trends, it is likely that for the first time after fiscal 2009-10 that disinvestment target is likely to be...
  • DoT approves RCOM-MTS merger DoT approves RCOM-MTS merger
    Updated: Oct, 24, 201702:41 AM

    Reliance Communication (RCOM) has received the Department of Telecommunications (DoT) approval for the merger of the wireless business with Sistema Shyam Teleservices Limited (SSTL), which operates...

  • Matrimony.com expands in South Matrimony.com expands in South
    Updated: Oct, 24, 201702:37 AM

    Matrimony.com, a pure play Consumer Internet Company announced that its marriage service ‘MatrimonyMandaps’, a wedding venue booking platform in India to find best Mandaps and Banquet halls, recently...

  • Public Sector Bank, Escorts enter into tractor financing pact Public Sector Bank, Escorts enter into tractor financing pact
    Updated: Oct, 24, 201702:34 AM

    The State Bank of India (SBI), the country’s largest public sector lender, has signed an agreement with Escorts Ltd to finance farmers for purchase of Escorts tractors.

  • Hinduja Global forays into GST support services space Hinduja Global forays into GST support services space
    Updated: Oct, 24, 201702:28 AM

    The $555 million Hinduja Global Solutions Ltd (HGS) has launched a new solution providing GST compliance services to support the needs of corporate clients and business houses across India.

  • ‘Abu Dhabi Week’ will debut in Mumbai and Delhi to promote tourism ‘Abu Dhabi Week’ will debut in Mumbai and Delhi to promote tourism
    Updated: Oct, 24, 201702:25 AM

    In a bid to promote trade and tourism to the United Arab Emirates, the Abu Dhabi government’s Department of Culture and Tourism has organised the first-ever ‘Abu Dhabi Week’ in India.

  • DeMon may hit wedding biz by 10% DeMon may hit wedding biz by 10%
    Updated: Oct, 24, 201702:22 AM

    Demonetisation, along with recently introduced GST, may impact the business of upcoming wedding season, staring November, by 10-15 per cent, industry chamber Assocham said here.

  • EEPC signs pact with PNB for export finance EEPC signs pact with PNB for export finance
    Updated: Oct, 23, 201709:31 PM

    Engineering Export Promotion Council (EEPC) India, the premier body for merchant and SME exporters, today signed a Memorandum of Understanding with Punjab National Bank (PNB) to provide easy access to...

  • Bentley to open showroom, service centre in Hyderabad Bentley to open showroom, service centre in Hyderabad
    Updated: Oct, 23, 201709:21 PM

    Bentley India-a high-end luxury car manufacturer today said it is set to launch a showroom and service centre here, through its exclusive dealer for India, Exclusive Motors Pvt Ltd, on October 27.

  • Indian companies lead the world on disclosing CSR spends: Study Indian companies lead the world on disclosing CSR spends: Study
    Updated: Oct, 23, 201709:18 PM

    India has witnessed a marginal dip in corporate responsibility-related reporting by the top-100 companies, but continues to be among the best in the world in this aspect, a 49-country study has found.