Economy & News
Manufacturing growth loses momentum in February with PMI at 51.1, same as January
Manufacturing
business conditions in India continued to improve, with new orders,
exports, output and purchasing activity all rising in February. However,
a faster expansion in new business inflows failed to lift growth of
output. At 51.1 in February, unchanged from January's reading, the
seasonally adjusted Nikkei India Manufacturing Purchasing Managers'
Index (PMI), pointed to a second consecutive monthly improvement in
business conditions across the sector. A reading [….] Read more at:
India a haven of stability amid weak economic conditions globally: FM Arun Jaitley
Finance
Minister Arun Jaitley on Tuesday said the India stands out as a haven
of stability amid a weak economic environment globally and promised
steps to sustain growth. "The prevailing economic scenario across the
world is challenging to say the least. This year's budget was proposed
and presented at a time of unusual volatility in the international
economic environment, markets are fearful, the global recovery may be
faltering. Against this background, India stands out as a [….] Read
more at:
Rating agencies doubt Arun Jaitley's revenue growth optimism
Domestic
rating agencies have said while some of the revenue growth expectations
expressed by Finance Minister Arun Jaitley in the Union Budget are
optimistic, the government will have to deliver on the fiscal targets
before the central bank can cut rates. "A closer look at the Budget
math indicates that the revenue expectation is highly optimistic and for
the government to stay on the fiscal consolidation path, it will have
to cut capital expenditure," India Ratings said in a statement today.
[….] Read more at:
India engaging with EU to sort out pharma issues: Government
India
is engaging with EU to sort out regulatory issues and strengthen
manufacturing practices following the 28-nation block's ban on around
700 pharma products which were clinically tested by GVK Biosciences,
government said today. "Currently India and EU are constructively
engaged to sort out regulatory issues between the two countries and
expand and strengthen technical co-operation on good manufacturing
practices (GMP)," Minister of State for Fertilisers Hansraj Gangaram
Ahir [….] Read more at:
Bill Gates richest man in world, Mukesh Ambani at 36th: Forbes
Microsoft's
co-founder Bill Gates continued his reign as the world's richest person
with a net worth of $75 billion, according to Forbes' annual ranking of
billionaires, with Reliance Industries Chairman Mukesh Ambani leading
the pack of 84 Indian billionaires in 2016. Forbes' 2016 list of the
World's Billionaires includes 1,810 billionaires, down from a record
1,826 a year ago. Their aggregate net worth is $6.48 trillion, $570
billion less than last year. Gates remains the richest [….] Read more
at:
460 companies spent Rs 6,337 crore for CSR in FY'15: FM Arun Jaitley
As
many as 460 companies spent a little over Rs 6,337 crore for corporate
social responsibility (CSR) activities last fiscal, Parliament was
informed today. In a written reply to Rajya Sabha, Corporate Affairs
Minister Arun Jaitley said a total of 460 listed firms have so far
disclosed spending Rs 6,337.36 crore in 2014-15. This included 51 PSUs
that spent Rs 2,386.60 crore. The new Companies Act mandates every
company with a networth of Rs 100 crore to set aside minimum 2 per cent
of [….] Read more at:
Thanks & Regards,
Meetesh Shiroya
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