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Although the Goa govt had increased the VAT rate on petrol to 22% in its recent budget, but it also promised to reduce the VAT if the petrol price crossed Rs60/litre mark. As the petrol price could have crossed the benchmark of Rs60/litre, Goa gover…
Login to write your newsNow there are 5.4 Cr tax payers.PM asked tax officials to make policies & environment taxpayer friendly& have 10 Cr tax payers.There should be no fear in tax payers' minds. PM said this in a meeting in the "Rajasva Gyan Sangam" or revenue knowledge …
Login to write your newsAlthough September is passing by, but the ecommerce vendors have not shown much interest in taking business loans for their stock. This is an indication that they would not be giving discounts in this festive season.
Login to write your newsGovernment plans to sell about 640 millions of its shares in Hindustan Copper at Rs. 62/ share in 2 days raising Rs. 4.02 billion,to reduce its deficit,in FY 2016-17.India plans to raise more of Rs. 565 billion by making more such sales. &nbs…
Login to write your newsWalmart has decided to invest Rs. 6700 Crores with Flipkart. So that they may compete with Amazon together. Both companies shall gain, If this deal is finalized.Flipkart needs money to remain at No. one position in the country and Walmart may effect…
Login to write your newsOf course September has almost passed. Vendors of e-commerce have not taken business loans for their respective stocks. They would be giving much less discounts in this festive season, it appears.
Login to write your newsDomestic detergents maker Nirma Ltd, agreed to buy cement business of LafargeHolcim for $1.4 billion (i.e. around Rs.9,400 crore) on July 11, 2016. The deal will be financed partly by the largest rupee bond issue worth Rs.4,000-crore. This deal will…
Login to write your newsThe surgical strike by Indian army on Pakistan has caused the rupee value go down (depreciate). The rupee value has gone down by almost 45 paise against dollar. This is the minimum value in the entire week. Now, the value of rupee is Rs66.89 against…
Login to write your newsGovernment has asked the major e retailers like amazon, flipkart, snapdeal to mention the discounts offered on goods by them. They should clearly state and ensure that the discount (rebate) is being offered by the seller and not by them (ie online m…
Login to write your news99.94% equity shares purchased by Kotak Mahindra Bank(KMB) for 139.2 Cr. from shareholders(existing) of BSS Microfinance(money lender from Karnatak) , by a signed binding agreement. KMB will not merge with BSS Microfinance, operate as subs…
Login to write your newsUnited Nations Food And Agricultural Organisation(FAO) said that by modernizing & environmentally sound farming system of sub-Saharan Africa may meet global agro needs & raise economy of rural families. Also said that,by more output of highe…
Login to write your news10 million passengers bought Railway Travel Insurance of Re.1.It covers incidences like death ,disability,terrorism, travelling on diverted routes,etc.Passengers buying tickets of any class or category on IRCTC's website are covered except those tra…
Login to write your newsQualcomm chipset maker is negotiating with NXP Semiconductors to buy it for more than $30 billion. NXP's stock up by 15% to market value of $33 billion. If deal is done it may be historically largest in deal of semiconductors. NXP had completed in December its merger with Freescale Semiconductoes valued at $ 40 billion. M & A is trying for growth as revenue growth has declined & making smaller,faster chips is becoming complex
Anil Ambani's Reliance Group has signed a Joint Venture with Dassault Aviation,France makers of Rafael Jets,to be named as Dassault Reliance Aerospace. It will work under Government & Dassault deal to buy 36 Rafael fighter Jets.Deal makes mandatory for Dassault to give Indian Companies business worth Rs.30,000 Cr.After it share price of Reliance Defence & Engineering was up by 5.3% to Rs. 581.It will support PM's 'Make in India'
On Oct'04,2016,shall present its reviews on Monetary Policy Committe (MPC) recommendations,chaired by RBI,Governor. Experts expect no changes in Equity Money Installments(EMI) & other banking rates etc., as there has not been appreciable reduction in Wholesale Price Index (WPI) which is 3.76% & Retail Price Index (RPI)which is now 5.04%. Targets fixed by Government for RPI for next 5 years is 4% +/- 2%.
As India attracting foreign airlines due FDI(foreign direct investment) relaxation,Singapore's low cost airline,Scoot Airways started its 3rd service in India launching flight to Jaipur on Oct'03.It began flights to Chennai & Amritsar,with good response. Flights from Singapore to Jaipur on Monday,Friday, & Sunday,& from Jaipur to Singapore are on Monday,Tuesday & Saturday.Scoot to fly to Jaipur thrice/week,increase it to 4/week
IT ministry on Oct'03 approved 9000 seats in business process outsourcing(BPO) units for small cities like Patna,Cuttack,Varanasi,Siliguri,Dhule etc. so that people can work in their home towns & not to leave their native places.India has 38% share in global BPO Industry & can grow big & then 3000 more seats be approved.More than 50 Co.s will set up BPO operations at 60 locations. …
Joint Venture Co. Dassault Reliance Aerospace to gain much due to 36 Rafael fighter air crafts deal.Agreement includes 50% offset obligation, contract. JV co. to execute offset obligations. This Co. will promote Research & Development projects under Indigenously Designed & Manufactured(IDDM), initiative of Defence Ministry. Dassault to offer know how & experience in design development & sale of all air crafts.
Current Affairs,Oct. 04, 2016Jet Airways on Oct'04 offered to fly for Rs.939 on selected domestic routes. As per its concessional rate scheme,ticket booking will be done from Oct'04 to 07. Jet Airways stated that passengers shall start travelling from Nov'08,2016.This scheme is only for straight flights in India. Earlier Spicejet offered a special scheme @ Rs.800 for domestic & Rs.3,699 international flights during festivals(for limited period)
Jindal Steel & Power Ltd(JSPL) agreed to sell its 24 MW wind power project at Satara to IDFC Alternatives India Infrastructure FUND II,for an undisclosed value & deal is expected to be closed in 2 months. IDFC Alternatives plans to acquire 250 MW of operating wind,solar & small hydro capacity by 2016 end and about 600 MW in next 18 months.This disinvestment by JSPL is to reduce its debt load,which is Rs.46,816.44 Crores
Hardly spaces in Mumbai & demand of commercial & residential plots,is worry of environmentalists.Even so Mumbai has 753 buildings having power & water conservation methods,good sewage & garbage treatment plants per Indian Green Buildings Congress(IGBC).It says,Mumbai is 1st with 1124,2nd Delhi(497) & 3rd Pune(379) green buildings.Mumbai saves 15,000 MW energy & 50 Million Tonnes of Carbon dioxide /year
RBI cut repo rate by 0.25% from 6.5% to 6.25%, but revised inflation rate target for Mar',2017 & Mar',2018 from 5% & 4% to 5.3% & 4.5% respectively,due to incorporation of 7th pay commission recommendations on house rent allowances(HRA).It also cut interest rates but it signals limited scope for further rate cuts. BSE's sensex closed up by 9% & NSE Nifty up by 0.4%.RBI may reduce rates by 50 basis points in December.
Current Affairs,Oct. 05, 2016Check your phone. I have messaged an OTP. It is a 6 digit number. Feed it in the box below
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