Page 1133 - Business Finance
Budget 2019: Fiscal deficit brought down to 3.4 pc, says Finance Minister Goyal
Finance Minister Piyush Goyal, while presenting the interim Budget 2019 in the Lok Sabha on Friday, said that fiscal deficit has been brought down to 3.4 per cent in the revised estimates for 2018-19.The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government.The revised fiscal deficit estimated for 2017-18 had been put at Rs 5.95 lakh crore at 3.5 per cent of GDP.Continuing the government's path of fiscal reduction and consolidation, then Finance Minister Arun Jaitley had projected a fiscal deficit of 3.3 per cent of GDP for the year 2018-19.Jaitley had also proposed the acceptance of key recommendations of the Fiscal Reform and Budget Management Committee to bring down the Central government's debt to GDP ratio to 40 per cent."The current account deficit is expected to be 2.5 per cent this year," added Finance Minister Goyal. The current account deficit is a ...
Budget 2019: Rs 1 crore loan can be obtained under 59 minutes: Finance Minister
Rs 1 crore loan can be obtained under 59 minutes, said Finance Minister Piyush Goyal on Friday while presenting the interim Budget for 2019-20 in the Lok Sabha."Rs 1 crore loan can now be obtained under 59 minutes," said Goyal, while stating that his government has implemented several measures to ensure clean banking and instituted a resolution friendly mechanism for recovery of non-performing loans."Nearly Rs 3 lakh crore has been recovered in favour of banks and creditors," he said, adding that "big defaulters too have not been spared by our government."Finance Minister Goyal said that he remained confident that given the pace of reforms in the banking sector, other banks too will recover. "At the same time, recapitalisation of banks amounting to Rs 2.6 lakh crore has been done," said the Finance Minister."The 4R approach and a number of measures have been implemented to ensure clean banking-recognition, resolution, recapitalisation, and reforms," he said.
Drill, China, drill: State majors step on the gas after Xi calls for energy security
SINGAPORE/BEIJING (Reuters) - China's state energy giants are set to raise spending on domestic drilling this year to the highest levels since 2016, focusing on adding natural gas reserves in a concerted drive to boost local supplies.
Focus: Budweiser spends big on Super Bowl, targets small markets
BRUSSELS/PHILADELPHIA (Reuters) - This Bud's for you.
Deutsche Bank swings to full-year profit after tepid fourth quarter
FRANKFURT (Reuters) - Deutsche Bank returned to profit in 2018, its first in four years, despite a greater-than-expected loss in the fourth quarter, the German lender said on Friday.
Govt laid foundation for sustained growth, better quality of life in last 5 years: Piyush Goyal
The government has laid the foundation for sustained growth and better quality of life in the last five years in its endeavour to make 'New India' by 2022, Finance Minister Piyush Goyal said on Friday as he presented interim Budget in the Lok Sabha.He spoke about various initiatives to push growth and said India has become the 6th largest economy, jumping from 11th position five years back.The Narendra Modi-led government has provided stable and clean government over the last five years and "transformational reforms" have been undertaken, Goyal said amid thumping of desks by the ruling benches, led by the Prime Minister."We have prepared the foundation for sustained growth and better quality of life," said Goyal, who was pitching in for indisposed Arun Jaitley.He said the government's endeavour was to realise the 'New India' by 2022, when the country celebrates 75th year of Independence.Talking about the 'New India', he said it would mean clean country, housing for all, access to ...
Hisar Metal Industries Ltd leads gainers in 'B' group
Ducon Infratechnologies Ltd, AYM Syntex Ltd, Nagreeka Exports Ltd and Majesco Ltd are among the other gainers in the BSE's 'B' group today, 01 February 2019.
British currency exchange WorldFirst shuts U.S. operations - FT
(Reuters) - British currency exchange startup WorldFirst is shutting its U.S. operations to ward off a potential regulatory hurdle for its planned takeover by China's Ant Financial Services Group, the Financial Times reported on Friday.
Mobile data usage in India up 50%: Goyal
Finance Minister Piyush Goyal on Friday said mobile data usage in India has increased by a phenomenal 50 per cent within no time and the cost of data and voice calls in the country are now possibly the lowest in the world.
Rs 64,587 cr budgetary support for railways in 2019-20: Goyal
Finance Minister Piyush Goyal on Friday said the government has allocated Rs 64,587 crore for railways in the Interim Budget for 2019-20.
2% interest subvention for MSMEs on loan up to Rs 1 cr
The government on Friday announced 2 per cent interest subvention for micro, small and medium enterprises (MSMEs) for loans up to Rs 1 crore.
Budgetary announcements keep equity indices in the green
Increased spending for the farm sector and revised fiscal deficit target of 3.4 per cent in the Interim Budget for 2019-20 on Friday buoyed the Indian equity market during the pre-noon trade session on Friday.
Jet Airways (India) Ltd leads gainers in 'A' group
Jaiprakash Associates Ltd, Navkar Corporation Ltd, HEG Ltd and Aegis Logistics Ltd are among the other gainers in the BSE's 'A' group today, 01 February 2019.
Budget 2019: Government steps up rural funding in last budget before election, deficit rises
NEW DELHI (Reuters) - India's Hindu nationalist-led government poured extra money into support for farmers and a rural jobs programme, delivering on Friday its last budget before a general election due by May with the clear aim of winning over votes.
Highlights: India unveils Budget 2019 aimed at tackling rural distress ahead of election
NEW DELHI (Reuters) - India on Friday unveiled an interim budget with giveaways for rural citizens, in what is being seen as a critical test for Prime Minister Narendra Modi, who is facing anger over depressed farm incomes and unemployment with a general election just months away.
Fed policy turn not good news for Trump as risks mount
WASHINGTON (Reuters) - The Federal Reserve's policy twist on Wednesday might seem just what the White House ordered, with a hold put on what President Donald Trump termed "loco" interest rate hikes, and an openness to ending the monthly runoff of up to $50 billion from the U.S. central bank's balance sheet.
Gold futures weaken by Rs 41/10 gm
Gold prices fell by Rs 41 to Rs 33,055 per 10 gram in futures trade Friday as speculators reduced their exposure in line with a muted trend in the precious metal overseas. At the Multi Commodity Exchange, gold for delivery in April traded lower by Rs 41, or 0.12 per cent, to Rs 33,055 per 10 gram in a business turnover of 18,087 lots. The gold for delivery in June fell by Rs 4, or 0.01 per cent, to Rs 33,215 per 10 gram in 2,388 lots. Marketmen said the fall in gold prices in the domestic market was mostly due to trimming of positions by participants. Globally, the yellow metal was trading lower 0.14 per cent at USD 1,317.89 an ounce in Singapore.
LafargeHolcim completes sale of $1.75 billion Indonesian unit
ZURICH (Reuters) - LafargeHolcim has completed the sale of its Indonesia business in a deal which valued the unit at $1.75 billion, the cement maker said on Friday.
Highlights: India unveils Budget 2019 aimed at tackling rural distress
NEW DELHI (Reuters) - India on Friday unveiled an interim budget with giveaways for rural citizens, in what is being seen as a critical test for Prime Minister Narendra Modi, who is facing anger over depressed farm incomes and unemployment with a general election just months away.
Budget 2019: Sensex, Nifty hold on to gains
Benchmark equity indices held on to gains Friday morning even as the Budget overshot the fiscal deficit target for the current financial year. The 30-share BSE Sensex was trading 157.10 points, or 0.43 per cent, higher at 36,413.79. Similarly, the 50-share NSE Nifty rose 43.25, or 0.40 per cent, to 10,874.20. Presenting the budget for 2019-20, Finance Minister Piyush Goyal said the fiscal deficit for the current financial year is expected to be 3.4 per cent of GDP. As per the Budget estimate, the fiscal deficit for 2018-19 was pegged at 3.3 per cent. As widely expected, the finance minister announced the Pradhan Mantri Kisan Samman Nidhi for small and marginal farmers, providing Rs 6,000 per year to be transferred directly to farmers' bank accounts. Top gainers in the Sensex pack included Maruti, Hero MotoCorp, M&M, HUL, HCL Tech, Bajaj Finance, HDFC and L&T, rising up to 3.78 per cent. Vedanta was the biggest loser on Sensex, cracking over 18 per cent after the metals and ...