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Bhubaneswar
Thursday, October 19, 2017

Business

GST: Relief For SMEs, Threshold For Composition Scheme Raised

New Delhi(PTI): In a relief to small and medium enterprises, the GST Council today raised the turnover threshold to Rs 1 crore for businesses to avail of the composition scheme that allows them to pay 1-5 per cent tax without going through tedious formalities. With small businesses and traders complaining about the compliance burden the new Goods and Services Tax...

Sensex Takes First Hit In 5 Days As Fatigue Catches Up

Mumbai(PTI): The slip on Thursday showed up for the market after a four-day winning spell when the Sensex ended with losses and the Nifty settled below the crucial 9,900 as investors jostled to take money off the table. Concerns about foreign capital flying out remained. On the macro front, services sector activity expanded for the first time in three months in...

Rupee Down 13 Paise At 65.14 On Dollar Buoyancy

Mumbai(PTI): After a brief overnight recovery, the rupee once again turned shaky and ended lower by 13 paise at 65.14 on fresh bouts of dollar demand from importers. The rupee came under pressure due to extremely bullish dollar sentiment overseas backed by robust US service sector growth data that hit its fastest pace in 12 years in September, coupled with...

Forbes Survey: Baba Ramdev’s Associate Balkrishna 19th Richest Indian, Mukesh Ambani Retains No 1 Slot

New Delhi(PTI): Reliance Industries chief Mukesh Ambani on Thursday emerged as India's wealthiest for the 10th straight year as his net worth swelled to USD 38 billion (nearly Rs 2.5 lakh crore) while the wealth of 100 richest rose by 26 per cent despite economic hiccups. Wipro's Azim Premji was the distant second with a net worth of USD 19...

Rajnish Kumar Appointed As New SBI Chairman

New Delhi: The Appointments Committee of the Cabinet has approved the name of Rajnish Kumar as the new Chairman of the State Bank Of India(SBI) Chairman. Rajnish Kumar will serve as the Chairman of SBI for a period of three years from October 7, according to a release issued by the Department of Personnel and Training (DoPT). Rajnish Kumar,...

Fuel Prices: Dharmendra Urges States To Reduce VAT On Petrol, Diesel By 5 Per Cent

New Delhi & Bhubaneswar: Barely 24-hours after the Narendra Modi-led BJP government reduced excise duty on petrol and diesel by Rs 2 per litre, the Centre now wants states to cut sales tax or VAT on petrol and diesel by at least 5 per cent. The Union Petroleum and Natural Gas Minister Dharmendra Pradhan today said that Finance Minister...

RBI Ups Inflation Projection To 4.2-4.6% During 2nd Half

Mumbai(PTI): The Reserve Bank today raised its inflation projection to 4.2-4.6 per cent for the second half of the current fiscal due to firming global oil prices and uncertainty on kharif farm output. RBI in its previous monetary policy in August had projected the Consumer Price Index (CPI) based retail to be in the range of 4-4.5 per cent during...

US Dollar Tumbles Against The Rupee

Mumbai(PTI): The US dollar dropped sharply against the rupee at 65.01/02 per dollar and the pound sterling also finished lower at Rs 86.33/35 at the Interbank Foreign Exchange (forex) market here today. Following are the interbank forex and RBI rates: (In Rs Per Unit) Unit Interbank RBI Reference US Dollar 65.01/02 US Dollar Rs 65.2899 Pound Sterling 86.33/35 Euro Rs 76.8266...

Petrol, Diesel To Cost Less As Excise Duty Slashed By Rs 2/Ltr

New Delhi(PTI): Bowing to public pressure, the government today cut excise duty on petrol and diesel by Rs 2 per litre each to moderate the relentless rise in fuel prices witnessed for the last three months. Petrol and diesel will cost Rs 2 a litre less from tomorrow after the first excise duty cut by the Modi government comes into...

RBI Begins 2-Day Policy Review; Industry, Govt Want Rate Cut

Mumbai(PTI): The Monetary Policy Committee headed by RBI governor Urjit Patel started two-day deliberations on Tuesday with industry and the government hoping for interest rate cut to spur growth which fell to 3-year low of 5.7 per cent in the June quarter, while experts expect status quo. The fourth bi-monthly monetary policy statement for 2017 -18, to be released on...

RBI Policy, PMI Data Hold Key To Stock Markets This Week

New Delhi(PTI): Outcome of RBI policy meeting, macroeconomic data points and investment trend of overseas investors will be the prime pointers of direction for the stock market this week, say experts. The markets are closed today for Gandhi Jayanti. "Going ahead, we expect the focus to shift to RBI's policy and upcoming quarterly results and globally, on unwinding of balancesheet by...

2 Mines Of NINL Get Stage-I Forest Clearance

Bhubaneswar: Odisha-based Neelachal Ispat Nigam Limited (NINL) has got the Stage-I Forest clearance for its captive mines from the Forest Advisory Committee of the Ministry of Environment & Forest (MoEF), official sources said. NINL's captive iron ore mines are situated at Koira in the districts of Sundergarh and also in Keonjhar. The mining lease of NINL was earlier executed on...

Sweet Fragrance: Florists Make Brisk Business During Navaratri In Berhampur

Berhampur(PTI): The florists have made a brisk business during the ongoing Navaratri festival when the flower trading reached its pick in Berhampur. Durga Puja committees ordered flowers for puja and to decorate pandals, while shop owners and individuals ordered flowers on occasion of Dussehra. Flowers like marigold, water lily, jasmine, China rose and amaranth (aparajita) are required for rituals in Durga...

Kochhar, Shikha, Nooyi,  On ‘Fortune’ Most Powerful Biz women List

New York(PTI): Two Indians -- Chanda Kochhar and Shikha Sharma -- have made it to the rankings of most powerful women in business outside the United States drawn up by the Fortune magazine while Indra Nooyi featured in the top three on the US edition list. The Most Powerful Women in Business outside the US list, which was topped by...