Amid liquidity and inflation concerns, government's market borowings have come down by 21 per cent to Rs 85,000 crore (Rs 850 billion) till November 25 this fiscal.
A Rediff.com journalist reveals what it's like to live in a building sealed by the authorities because one of the residents is COVID-19 positive.
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Fiscal deficit has come down by over 34 per cent to Rs 53,235 crore (Rs 532.35 billion) in the first half of 2004-05 mainly due to government's expenditure control measures and higher tax mop up.
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The finance ministry on Tuesday said it expects up to Rs 4,000 crore (Rs 40 billion) mop-up from the initial public offer of National Thermal Power Corporation.
The Reserve Bank of India is closely monitoring liquidity to decide whether it needs to take fresh measures to absorb excess funds from the banking system, the central bank's deputy governor said on Saturday.
Unfazed by competition from private players, state-owned Life Insurance Corporation of India on Tuesday said it has attained yet another landmark by bringing in 2.05 crore (20.5 million) lives under insurance cover till March 15.
The increases, which follow similar hikes in mid-November, seek to take advantage of a slump in world oil prices to shore up government revenues without stoking inflation.
The government has fixed a target of 1 lakh (100,000) subscribers under the pension scheme for senior citizens through the Life Insurance Corporation, the Lok Sabha was informed on Friday.\n\n
In the current fiscal, as per the revised estimate, these two companies raised Rs 14,942 crore (Rs 149.42 billion) from markets.
Finance Minister P Chidambaram has directed Income-Tax officials to monitor advance tax mop-up, tax deducted at source, and hasten the recovery of tax arrears to attain direct tax target of Rs 1,39,510 crore (Rs 1395.1 billion) in 2004-05.
ING Vysya Mutual Fund on Tuesday said it has plans to acquire other funds as part of efforts to take its assets to Rs 3,000 crore (Rs 30 billion) this year, six times higher than that in the previous fiscal.
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The finance ministry may succeed in collecting over Rs 2,52,900 crore (Rs 2,529 billion) in taxes to meet the revised estimate for 2003-04 despite hefty refunds.
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The government on Monday announced a selling price of Rs 750 per share for the public offer of 14.26 crore shares in Oil and Natural Gas Corporation.
Barcelona capitalised on two disastrous own goals by A S Roma to thrash the Italian side 4-1 at the Nou Camp on Wednesday and take a huge step towards reaching the Champions League semi-finals for the first time in three years.
The Centre will contain its fiscal deficit to 4.8 per cent of GDP as it expects to mop up Rs 13,500 crore (Rs 135 billion) from the ongoing public offering of government equity in six companies, a senior finance ministry official said on Monday.
Buoyed by an overwhelming 11.3 times over-subscription for the public offer to sell its 39.7 lakh (3.97 million) shares in CMC, the government on Monday fixed a selling price of Rs 485 per share to mop up Rs 190 crore.
Power Trading Corporation's initial public offering of 5.85 crore (58.5 million) shares was oversubscribed by about two times on day one, sources associated with the process said in New Delhi.
The price for a share of Emami was fixed at Rs 70 on Saturday. The public issue of the company had been oversubscribed by 35 times.
The government is simplifying the procedure for filing tax deducted at source returns to assist taxpayers and mop up higher revenues.\n\n\n\n
